The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-07-21
MONETARY.
OFFICE NEW ORLEANS BULLETIN, ,
Tuesday Evening, July 20, 1875.


Money market. The demand for discounts
continues good at several Of the banks, and
limited at others. On the street collateral
loans and first class commercial paper are in
request but the offerings are moderate We
hear of occasional transactions In mortgages,
but nothing that indicates any change in
quotations.
In sympathy with the decline in Gold at
New York, the quotations for Foreign Ex-
change show material falling off to-day,
but the offerings are so limited, from the sus-
pension of the foreign demand for cotton,
that operations were of trih ng extent. The
counter demand for New York sight is re-
duced to almost nothing. the banks finding
it to their interest to remit by express rather
than pay the quoted rates.
We hear of only few unimportant transac-
tons in Stocks. City Bonds are dull and
nominal, both buyers and sellers seeming in
disposed to invite transactions.
New State Consols continue in fair request,
and are quoted higher.
Nothing is doing in City Scrip or in Metro
politan Police Warrants
State Warrants are unchanged. We hear
some complaint Of the recent action of the
Funding Board in refusing to proceed with
the funding of State Warrants.
We continue to quote frst-class CONNER
cial paper and collateral loans at 899 79 cent
per annum discount, AL do at 10@12, and
second grade at 15@18. Frst-class mortgages
still rule at 9@10 7e cent per annum, while
second grade are entirely nominal.
Gold opened at 114@l144, against ia at
New York, and after limited business
closed at 1139@114 &c lower than yes
terday), against 1872 in that market. The
sales summed up $4,000, comprising $4,000
at 113a, $4,000 at 113ss, $1,000 at 114a, $1,000
at 1l45, and $4,000, $4,000 and $4,000 at 1l4aa.
No sales of Silver were reported. American
against 1074@1084 yesterday, while Mexican
dollars continue to rule at 1908! gold.
Foreign Exchange opened at previous rates,
but under the subsequent decline in Gold at
New York fell eff fully $40 u cent for ster-
ling and about the same for francs. The
only sales of sterling reported were at the
opening and embraced $500 private bankers
at SIS and $500 bank at 5 So. No transac-
tions in francs were reported
At the close sterling bills were quoted nomi-
nal at s. so for bill of lading and AL clear and
-@5 IS for bank, and francs nominal at 4. GIL
for commercial and 4 573 for bank.
The offerings of New York sight continue
very light, the demand moderate and rates
unchanged. The sales were confined to S45,-
0OO emil racing SIS, 900 private bankers at /
~ cent premium, $4,000 commercial at
9.32, and So 900 bank at SIG.
The banks continue to check on New
York at 3 ~ cent premium, and commercial
sight is sllll quoted at sic.
In Stocks we noticed a sale of - shares
New Orleans Gas Light Company, OF which
the particulars were withheld, and at auction,
by the Sheriff, by order of the Third Judicial
District Court, in the case of A. Petot versus
A. Supener, 10 shares New Orleans Mutual
Insurance Association at $40 IS.
City Bonds are dull and weak. No sales
are reported and quotations are nominal
New Currency Seven Per Cents are quoted at
-@33, City Gold Bearing Seven Per Cents
drainage series) at 334933i, and do admin
istration series) at 344@342.
New S ate Consolidated Seven Per Cents
continued in request, and were 4@3 u cent
higher being quoted at 532@54 at the close
The only sale reported was $4,000 at 81
Nothing was reported in City Scrip. 1t is
still quoted at 3S939.
No transactions were reported in Metropoli-
tan Police Warrants. They continue to rule
at 65@6S.
No sales were reported in State Warrants.
Issues of 1874 were still quoted at 43@45 for
large, and -G147 forsmall; 1873 and previous
years, fundable, at 35G36, and do, not fund
able, at -G29.