The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-12-15

Total last week ID, 1925, 374 56 1,233.Ooo 70
Tetalweek before. .1O,277,S7S 80 o9l,243 10
The market to-day was without material
change At the banks the demand was moder-
ate aud generally readily met, while on the
street offerings Of commercial paper were limited,
and rates easy. There was far movement IN
Gold at lower rates Foreign Exchange, was
stronger. while New Yerk sight was in liberal
suppIy and lower There was some inquiry III
Stocks, but we heard Of very little movement.
New State CoEsols were again active and little
higher than yesterday.
City Bonds remain nominal and without move
ment. pending the trialsof the issues now under
argument in the United States Circuit Court In
the case of the MaenhAut heirs vs. the city ct
ais, we understand that the defendants as q
part of their defense, claim that the act OF Iooz
was unconstitutional on the ground that the tax
to which it subjected city property, for the pur-
oose of paving interest on the bonds, was not
equal ana uniform. The plaintiffs, we learn,
claim that the constitutional requirement touch
ing the equality and uniformity OF taxation ap-
niles to State and not municipal taxes, and that
the act of consolidation justly charged each mu-
inequality or district with tax In proportion
to it's Indebtedness that the tax has since been
M ade uniform, and that there ID no present
ground for such an objection. The argument in
the case will be continued tomorrow. 1t 10 ex-
citing much interest, as the issues involved are
of great importance both to bondholders and
taxpayers. Should the compliments succeed IN
establishing the priority of their bonds. and in
expunging the obligations which they claim to
he in Violation of the act Of 1852 the result may
make difference of some s15 00O 900 in the legal
indebtedness OF the city,
We continue to quote exceptional paper at go
| 10 10 cent per annum discount, Al do at l2@-,
| and second grade at 15@13. Firstclass mort
cages rule at 9GDl0 b cent per annum second
| grade are entirely nominal.
Gold opened at l13349l141S. against 1l4I at
| New York, and after fair business, closed at
| 1885, 0ll13H &c lower than yesterday. against
the opening rate in that market, where 1t touched
1l41. during the interim. The sales summed up
$4,000, embracing 5000 at llS5s, 'ooo w. a.
$1,000 $4,000 and 800 OOO at ia, $1,000 at 1141 and
$4,000 at 114L.
The only sale of Silver reported was $500 Amen
lean half dollars at 1094. American half dollars
were still quoted at 1O9gllO, and Mexican oollars
at 9411a@- for gold.
| better bill market at New York strengthened
| Foreign Exchange, without Its showing any
quotable improvement until towards the close,
| when both sterling and francs ruled shade
higher The movement was OF fair extent The
sales of the former comprised f46,5Oo EN-,
bracpg f120OO Al clear at 5.47@5.4S, 1880
bill of 1ading and $4,000 do and AL clear at 54o2,
sl4,O0o bill Of lading at 5.4S95 4S24, $4,000 bank
at 5.51h, $1,000 do, for gold, at 4-S41a' ana
The sales of francs comprised $4,000 COM
mercal embracing $50, 900 at 4.6OssG46O Tor
commercial, $1,000 at AGO, $4,000 at 4.595s and
80, 600 and 150, 600 at -. We also noticed sale
At the close sterling bills were quoted al
5.47I%G15 4s11aa for bill Of lading and Al clear,
and -95.5I1a for bank (bank counter rate at
l-@5.52), and francs at 4603s@46O for com,
mercial aud nominal for bank.
The offerings of New York sight were OF liberal
extent, and commercial ruled little lower.
The sales comprised 1896, 900, embracing s25,
900 commercial, $4,000, aud $1,000, private
bankers, and $50, 900 bank at "a y cent discount
5000 commercial and s25, 900 and 900 bank
at Is 49, SIS 900 commercial, $15000 and $50 00t
private bankers, $4,000 do and bank, and $4,000
and $50 600 bank at 7.16 and s25, 900 bank at %
} The banks continued to check on New York al
i "a u cent discount, while commercial sight was
quoted at 1slD7-16, against ZIG yesterday.
The only sale of Stocks reported was Is shares
Sun Insurance Company at $50 so. We noticed
, some inquiry for bank shares.
CITY Bonds continued quiet and with scarcel.
; any variation in rates. New State Consols were
I; in request and stronger, being quoted at abou
60, against 5954 1850 yesterday. The only sale
of the former comprised $1,000 Old City RAILROAD
issues at 43, and $4,000 at 431l. The sales OF thu
latter included $4,000 at 592, $4,000. $40 0O0 ant
500, 900 at 597., and 0000 aud $4,000 at 6014;
No sales OF City Scrip were reported: At th'
close it was still quoted at 1000 for August :.
December 1873 and for July to December, 1914
1 Time, and 5O@52 for June and part OF May, 1874
Metropolitan Police Warrants continue to rui
4 at 63R66 for 1928 issues, and 74@76 for 1878
. issues, while 1869 and lS7l-2 are quoted en-
l tirelv nominal. Nothing TRANSFERRED.
O. Old State Warrants, fundable, are still quote
t at 42l43; do, not fuHdable, at %. and lo7
t ssues at 42@45