The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-05-08
MONETARY.
OFFICE NEW ORLEANS BULLETIN.
Friday Evening, May 7, 1875.
'EW ORLEANS CLEARINa-HOUsE.

OFFICE NEW ORLEANS BULLETIN.
Friday Evening, May 7, 1875.
NEW ORLEANS CLEARINGHOUSE.
Cleanngs. Balances.
May 1............... $1,514,797 IS $282,18S
May 3.............. 1,597,h97 81 167,SS9 g
May 4.......... 1857 1919 SO ls0,O57 O
May 5............... ia, Alb So 157, 98l 4
May 6............... 1,612,259 80 217,212 9,
May 7................ L239,024 SO 195,686 81
Thus far thus week.. $500, 523 Al 1,14s,Ol5 s.
Total last week. $3.50. 7,103, 1913 81 976, 100 8:
Total week before 7.453, 743 so 1854, 843 9!
The market presents no material change
from last week. The financial situation has
been substantially without any change for ar
unusual period. The timidity and sense Of
insecurity which caused the accumulation Of
a large surplus of unemployed capital on de.
posit at the banks, has been followed by 6
general hesitation as to any movement, and
this indisposition has not as yet yielded, in
any sensible degree, to the attractions of such
investments as are offered on the market.
Money continues in light demand. Prime
commercial paper is in fair request, but the
supply is scanty, and the offerings both at the
| banks and on the street are limited and with
| out quotable variation. On the street we
note some good paper on long time taken at
| 10 59 cent 79 annum. The. offerings of fac
| tors notes and acceptances are limited, and
the usual sum ner business with the interior
has not as yet developed.
In, Stocks there is no improvement upon
the quotations Of last week, with perhaps less
activity. and fewer transactions reported.
The offerings are light with little demand
except for few favorite shares.
City Bonds have exhibited some improve
ment, and new City Sevens show q decided
advance. predicated upon the prospective
payment Of the December coupons on the
18th inst State Bonds have been somewhat
dull and declining, but exhibited more
strength to-day. and closed with an upward
tendency. The feature of the week has been
the sudden rise on Monday of Metropolitan
Police Warrants, which ensued upon the de-
cision of the State Supreme Court that these
securities, issued prior to 1874, were receiv-
able in payment of licenses due the city.
The immediate effect of this decision was a
sudden advance of 20 to 25 points in these
warrants, which was subsequently checked by
the apprehension that the matter might be
delayed by an application for a re-hearing of
the cause
A resolution introduced into the City Coun-
Gil on Tuesday, but laid over until next week,
favoring the receiving of city scrip Of 1874,
also in payment Of licenses, which had the
effect of advancing the scrip operated to de-
press the warrants proportionately, under the
apprehension of a reduced demand. As will
appear from the Stock list below. the Metro
politan Police Warrants maintain an advance
of 10 to - points, and City Scrip of points
upon last weeks quotations.
The improved tone exhibited by old State
Warrants under the influence Of the "bill to
relieve taxpayers" etc., has fallen off from
the impression that the bill will not receive
Executive sanction.
We continue to quote frst-class sixty days
paper and collateral loans at S09 - cent per
annum; AL do at 10@la, and second grade at
1908. First-class mortgages still rule at
9@lO % cent per annum, while second grade
are entirely nominal.
Gold opened as 1l5s@1153. against 115a at
New York, and after moderate business
closed at the opening rates in both markets,
touching 115s and l15t during the interim at
New York. The sales summed up $500 |
embracing $4,000 at 115s; $4,000. $4,000 and |
$1,000 at 115a, and $50, coo at 115@115S.
No sales OF Silver were reported. Ameri- |
can half-dollars were still quoted at 1O891O9, |
and Mexican dollars 96@965 gold.
The only sale reported in City Scrip was |
$4,000 Of 1874, at 439.
The following are the quotations of
TINE CERTIFICATES OF 1873:
August to December ......-.......... Al @43 |
TINE CERTIFICATES OF 1874:
May. ..................... 7o@9o |
June NEUTRALITY-SUSPICIOUS.. 60970 |
July to December. Observation-Disclosures. 1904 |
OF SCHOOL CERTIFICATES OF 1873:
December. 4s@5o
OF SCHOOL CERTIFICATES OF 1874:
August s5@ss
september. Observation-Disclosures. 6506S |
october Observation-Disclosures. 40@45
November. ACKNOWLEDGEMENTS. 25@30 |
December Observation-Disclosures. 1920
AND OF SCHOOL CERTIFICATES OF 1875.
Iarch. y. Observation-Disclosures. 95@96
ApIu. ...s.s..ss..... ............. ooCDJO
Valued according to amount and date Of Or
linanca.