The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-04-16

49, L.. ra.L g. 1913 OG9 81 196, l29 1T
Tntsi week before .... 9,960,549 10 LIZ o9f Of
W. have no material change to note IN the
Money market which continues quiet. Inc
large volume of bank deposits seems rs yet &c
and no increased outlet, either n business
naper or in legitimate investment: lransac
fions in commercial! paper, and also IN Ex'
change were limited to-day, and at generally
unchanged rates. Stocks continued inactive,
While in bonds noticeable feature was pre-.
aanted bv the new State Consolidated Seven
Per Cents which opened strong and advanc-
ing. but after transactions to considerable
amount, holders Offering more freely, they
subsequently, receded, and closed at net i'm.
nroyamnt of per cent on yesterdays quota.
tons. ..
We learn that the committees Of the three
commercial bodies had an interview with the
CITY Council last night in reference to city
finances, and that the conference has resulted
in the adoption Of the general features of q
bill to be submitted for the consideration oil
the Legislature within few days. We be-
lieve that the plan Is not yet entirely matured
in all its details, but we understand that ii
PROPOSES the passage of an act authorizing
an arrangement between the city and its cred
itors, upon the basis of a lower rate OF inter
est upon the debt for the present, with an an
nual increase say 2 r. cent for the first y ear,
:, p cent for the second, for the third, and
so ON, until the rate stipulated by the several
contracts is reached.
Some anxiety continues to be manifested as
to the probable action of the holders OF Old
Consolidated CITY Bonds at the meeting called
the future however, any further remarks in
reference to it would perhaps be premature.
We continue to quote first-class sixty days
paper and collateral loans at SCL9 fp cent per
annum; Al do at 1OG0l2 and second grade at
15nlS. First-class mortgages still rule at
9MIO p cent per annum, while second grade
are entirely nominal.
Gold opened at 115C1 ll5,, against 115s at
New York, and after a lair business closed ut
the opening rates, touching Isl during the
interim at New York. The sales summed up
$4,000, embracing sl2, 900 at 115, $4,000
at l15(1115l, $5O 0 and $1O,O at 1l5s and
$1,000, $1,000 and $1,000 at 1l5i
No sales Of silver were reported. American
half dollars are still quoted at 1850 1OSl,
while Mexican dollars continue to rule ut
964M97 gold.
Inc movement in Foreign Exchange was
rather limited. Sterling was without quot
able variation, while francs were about ! u
cent higher The sales Of the former were
confined to e2l, 700, comprising f2OOO bill OF
lading and AL clear at 5.57a. el2OO bill Of
lading at j. So eli. 900 do and AL clear at 5.5S
(a)5 5Sa, $1,000 bill of lading at 5.5Sa. and
Ei5O0 bank at $50. The only sales OF the
latter reported were $4,000 commercial at
4.53a and SO, 600 and 10000 at 4.52s.
At the close Sterling bills were quoted at
5.57s@55S for bill Of lading and AL clear.
and 5 6OM- for bank, and francs at 4. So
for commercial and 4.4Sa tor bank.
The offerings Of Domestic Exchange were
Of fair extent, but meeting with only mod
crate demand for commercial at the rates
asked, the market fell off shade. The sales
Of New York sight covered S3l7,O 900. en-
bracing $4,000, $40 900, $4,000 and $50, 600
commercial and $4,000, $4,000 and $780,
600 private bankers at y cent premium,
and $4,000 and $4,000 private bankers at
9-32
The banks checked on New York at { II
cent premium, while commercial sight was
quoted at !, against -CG9-32 yesterday.
The sales Of Stocks included Is shares
Mutual National Bank at S53 30, about 81
higher than last weeks quotations), and 10
New Orleans City Railroad Company at Sal.
We also noticed some inquiry for Factors and
Traders Insurance Company, Crescent Mu-
tual Insurance Company, and Sun Mutual
Insurance Company, but no transactions were
reported.
The only sales reported in Gold Bearing
seven Ter lOuLS were pOUVU IL DOS, pOOUU ~
1867, and SIS 100 at 81; they closed at about
3o(g37, against 81 yesterday.
New State Consolidated Seven Per Cents
opened at about previous rates, and, meeting
with good demand. rose to Sd! u cent
higher than yesterdays quotations-but on
large offerings being subsequently pressed on
the market, rates closed at 5S-1 y cent lower
than the opening. The sales Were Of liberal
extent. summing mp Sl4l,OOO, embracing
$4,000 at SO; $1,000. 5000 and $1,000 at So;
$4,000 at 5Si; $4,000 at $50; $4,000 at 58a;
100000 at 30, and $4,000, sellers option.
thirty days, at So.
No sales Of City Scrip were reported. It
is still quoted At 5000.
Metropolitan Police Warrants are without
any apparent movement, but may be quoted
nominal at -Cl52.
Nothing transpired in State Warrants, which
continue to rale at about 30 for old fundable,
and SO for new.