The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-11-24
OFFICE NEW ORLEANS BULLETIN,
Tuesday Evening, Nov. %, 1875.
NEW OkLEANs CLEARINGHOUSE.


The market was more than usually quiet. At
most of the banks the demand was not so strong
and on the street the offerings of commercial
paper were limited, with no change In rates.
The scarcity in cash Gold CO tnues, and the
difference over the New York quotations
NOR. marked to-day than for some time. The
movement in Foreign and Domestic Exchange
was moderate. with a slight decline In the
former.
Nothing was reported in Stocks. City Bonds
we're dull while New State Consols were active,
and liberal movement was reported at ad-
vancing rates.
In conversation with leading bankers and finan-
ciers whose position and experience enable them
to form reliable opinion OF the business sltua-
ton, we are assured that there is no cause for
uneasiness IN the commercial community. The
embarrassments which have resulted IN the few
susp 4nsions which have lately occurred, mostly
antedate the present season. IL would
be unreasonable TO expect that the long con-
tinued business depression OF last year would
not result in some mlsfortunes OF this character.
The failure to collect outstanding assets and the
restricted demand for many articles, the stocks
OF which have proved to be excessive, have, per-
haps been the chief causes for their occurrence.
Eastern cities have suffered more seriously, as Is
conclusvely sho WI in the last quarterly report or
the Mercantile Agency. But i'll view of all the
facts, it was hardly to be expected that we would
4pe unscsthed. With reference to our own
community it is gratifying to be assured by those
having an opportunity to be we'll info rmed, that
the general condition Of business is now regarded
as healthy and that with a few comparatively
unimportant exceptions, all departments OF trade
are free from any suspicion OF unsoundness.
We continue to quote exceptional paper at
-0l10 - cent per annum discount; Al do at
-Ut2, and second grade at l5@1s.
First-cas mortgages rule at 90l0 II cent per
annum second grade are entirely nominal
Gold opened at l15l+0l15H, against 1l4$4
at New York and after limited hu mess closed
at 1l50tl15la against 1875 IN that market. Cash
Gold continued very scarce. The sales. were con
fined to S2l 900. comprising $1,000 at 1914, Sl2,
900 at l1514Dll51a, and $1,000, $1,000 and soooo at
1857.
No sales of Silver we're reported. American
half dollars we're still quoted at 1890, and
Mexican collars at 41a@l = gold.
Under the decline in gold at New York sterling
gave way nearly &c or about Ito " cent, and
francs nearly Il Il cent. The movement III both
| was moderate. The sales of the former comprised
! &35, 500, embracing $500 Al clear at 54S. $1,000
flO0O $4,000 and f3uO0 bill of lading at $40 fi00C
do and AL clear at 5.4SI aa1549Ha, and tSuOO and
| fl6 900 do at 5.49@5 1879.
The only sales of francs reported were 12O, zoo
commercial at ~, and l25, 900 at 400
At the close sterl ng bills were quoted at 8 AZ
65.49 for bill of lading and AL clear, and --4555
for bank, and francs at 60S sQg4 60 for CONNER
| cial and nominal tor bank.
| The offerings of Domestic Exchange were OF
| fair extent, aud met moderate demand at
rather easier rates iOr commercial. The sales
comprised SZU3,OUU, embracing SZ0,UUU colllllleT'
cial and $4,000 and SIS 900 private bankers at q
| q cent discount, 800 600 and $4,000 commercial
and $4,000 $4,000, 600 and $4,000 private
bankers at SIG, and 5000 private bankers at
| 9-32.
| The banks continued to check on New York al
| u ~ cent discount, and commercial sight is sti
| quoted at SIG.
| No sales of Stocks were reported.
| City Bonds were quiet and weaker. New State
Conso were in active demand, and advanced
fully q u cent, being quoted at the close at
| 57a.M58. The sales Of the latter comprised
s134, 500, embracing $4,000 at 5714, $4,000 and
$4,000 at SIX, $4,000, $4,000 aud $40, 900 at
| SIS, and $50, 600 at So; also, at the stock Ex
change, 5000 at 57la and $4,000 at 575s.
The only sale OF City bonds rep ,rted was
$4,000 New City Currency Seven Per Cents al
2714.
| Nothing transpired in Metropolitan Police
Warrants They are still held firmly at 75@oO
in anticipation that they will be taken for city
| licenses in January.
| No sales Of State Warrants are being reported
! Issue of 1874 continue entirely nominal, anl
1878 and previous year., fundabie, are still
quoted at 35@36, and do, not fundable, at =
| arg.