The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-09-11
MONETARY.
OFFICE NEW ORLEANS BULLETIN,
Friday Evening, Sept. 10, 1876.

The past week has developed q slight i'm
provement in the demand for Money, and, as
will appear from the Clearing House reports,
the volume of business transacted daily by
the banks shows an increase over last week.
There are evidences Of revivipg activity in
some departments of trade particularly
among wholesale dealers, and it is hoped that
with more liberal receipts of cotton the gen.
eral movement will be sufficiently extensive to
give employment to the available funds in the
banks.
The offerings for discount are reported
moderate TO- day, the banks readily taking all
the approved short paper presented, while
limited amount of commercial paper on long
time was negotiated on the street. Operations
on the latter appear to have been somewhat
restricted by the unsettled and fuctuating
condition of the New York gold market,
where the squeeze which has been appre-
hended for a few days past, has now become
fully apparent.
With the exception of few necessary pur-
chases to meet Gold notes falling due; there
was little or no movement of cash Gold in
this market, importers preferring in some
cases to allow their goods to remain at the
auction house for few days. in the hopes of
q decline from the present high rates.
The market is pretty we'll drained Of Silver.
Stocks have been generally dull and inactive
during the week, with some inquiry for few
favorite shares. New State Consols, which
have been languishing for some time, were re-
ported little more animated to-day.
Not sale of City Bonds has been reported
since Saturday, and none appear to be offer
ing on the market.
We continue to quote frst-class CONNER
cial paper and collateral loans at S99 p
cent per annum discount. AL do at 10@12, and
of
cages rule at 991O p cent per annum;
second grade are entirely nominal.
Gold opened at 115s@115s, against 1155 at
New York. and after limited business,
closed at 1161@1164, 1s@1l higher than yes
terday's close against ll64 in that market
The sales summed up $4,000, embracing
$4,000 at 116, $4,000 and $1,000 at 1164, $4,000
at 116l@l16s, $1,000 at 116S. and $4,000 at
1164.
Owing to the advance 10 Gold at New York,
American half dollars were quoted at lOSa(9
1904, &c higher than yesterday, while under
the decline in foreign bills in that market,
Mexican dollars ruled at 93%@94, l T. cent
lower than yesterday. No sales were reported.
The advance in Gold at New York COM
pletely unsettled the market, in sympathy
with which our own market was also unsettled
and no quotations were given until nearly the
close, when sterling was quoted as below,
showing an advance of 2-10 5p cent. The
sales of sterling were confined to $500, COM
prising e15OO bill of lading at =, glOOO bank,
for gold at 4.S3, el000 do at S3A, and $4,000
do at 81.
The only sale of francs reported were 25,-
900 commercial at 455, and %, 900 bank at
4S4 =,
At the close sterling bills were quoted
nominal at s. 5305. 81 for bill Of lading and
AL clear, and entirely nominal for bank, and
francs nominal
The moderate offerings of New York sight
meeting with scarcely any demand, CONNER
cial was a shade lower. No sales were re-
ported. -
The banks continue to check on New York
at y cent premium, and commercial sight
was quoted at -@5 z cent premium,
AGAINST La yesterday.
The only sales of Stocks reported were
shares Crescent Insurance Company at S6S.
Nothing transpired in City Bonds. which
G ontinue steady and firm. The applications
for funding in premium bonds were quite
liberal
New State Bonds were stronger and more
in request. The sales included $1,000 at %
early.
No sales of Metropolitan Police Warrants
were reported. They closed at 65@70
The only sale Of State Warrants reported