The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-02-03
MONETARY:
OFFICE NEW ORLEANS BULLETIN,
Tuesday Evening, Feb. 2, 1875.

OFFICE NEW ORLEANS BULLETIN, I
Tuesday Evening. Feb. 2 1875.
We have been reliably informed that
through the efforts Of Charles Case, Esq, re-
.ceiver, the debts of the late First National
Bank OF this city have been discharged to
such an extent that there now remains due to
4iepositors only about one-fourth Of the de-
posts at the time the bank suspended pay
ment.
We learn, moreover, 'that there are uncol-
Iected and good assets remaining more than
sufficient to discharge this liability, to-wit,
The claim now in prosecution against the
New Orleans and Carrollton Rail Road Com
pany, for about 1921, 900 and interest," nearly
S100,0 900 in the hands Of the United States,
improperly withheld from distribution to
creditors on the plea that the Government
has priority over other claimants, when in
this case, such priority clearly does not exist,
and about $50, 200 due the bank by sundry
solvent debtors
When these various amounts are collected
by the receiver he will have on hand more
than sufficient funds to discharge the balance
due to depostors, leaving some surplus for
stock holders.
If this is SO, and we are assured it is, we
can hardly understand why the Controller Of
Currency should have sought prematurely to
have enforced the liability Of the stock hold
ing in our United States Circuit Court
Under the banking law great discretion is
left with the Controller tor enforcing pro-
ceeding5. In times like the present. we think
great lenity should be shown, and that all the
assets of the bank should be exhausted before
calling on the stockholders
We refer to the report in another column
Cor some important proceedings of the City
Council in relation to the bonded debt.
fa11 49,
tors Of the Orleans Railroad Company: Messrs.
James DeEban, Emile Camel Henry Gardez,
J. Plaisent, j. Newhauser, S. Hernsheim and
VIM. =. Vincent; and at the meeting of the
board to-day Mr.. j. Plaisent was unanimously
.re-elected President.
EEw oRLEAEs CLEARINGHOUSE.
Clearings. Balsnces.
January 80. 81, 1913, 702 10 slS7,9S5 %
February l..........-.. 1,68G,so3 q 175,s5s IS
February 2............. ,S44, 1913 70 100, Of5 80
Thus far this week .. IS, $50 l6 500, $50 Il
Same time last week. -. 1868, l1S % 654, POP SO
Total last week 10 Sl9, O62 OF 1876 1888 GA
Total week before. TO- l42, 149 53 $50, 127 O3
The Money market continques quiet and
easy, with moderate demand for discounts
at the banks and limited offerings on the
street, and without any quotable variation i'll
the rates of commercial paper. -
We continue TO quote tirst-class paper and
collateral loans for 80 days at SG19 = cent
per annum; AL do at 10@12, and second grade
at 1591sc. First-class mortgages are in
~quired Tor at 9G110 u cent per annum, but it
is extremely difficult to negotiate any others.
Gold opened at 1135G1l13s, against 49, at
New York, and after fair business closed at
ll3a@114, against IA in that market. The
sales summed up SCI, 600, embracing $4,000
at 113a, $4,000 at 49,, $4,000 at l135, |
$4,000 at 1135G3113f, $1,000 at 1133, $1,000 |
at 11355 and $4,000 at ia.
Nothing was reported in Silver. American
half dollars are now quoted at 1O5a@ lOG4, |
while Mexican dollars continue to rule at !
g97@97I for gold.
Under the influence of the advance in gold |
OF New York, Sterling closed $40 IL cent
higher for commercial and 40 for bank |
The movement was of liberal extent, amount
ing to f6S, 800, comprising 1880 bill of
lading at 5.47, $1,000 and E250O do at 5.4S, |
1880 do and $4,000 Al clear at 5.48J, $4,000 |
bill of lading at 5.4Si. ESQ., 900 do and AL |
clear at 48@5.495, $4,000 bill Of lading at
5.49I, e23,OOO do at 5.4S!@5.50, and $4,000
do at 5.505
Francs we're also materially higher. The
sales comprised 5000 commercial, embrace
ing 10000 and 800, 900 at 4. 5S4@457a and
1870, 0o0 at 4.57l.
At the close Sterling bills were quoted at
5.49@55O for bill Of lading and Al clear,
and -(G5. 52J for bank, and francs at 457I
Cor commercial and 4 52B for bank.
The offerings Of Domestic Exchange were
of fair extent, and although meeting with
very moderate demand, commercial was
shade stronger. The sales of New York sight
covered S342,5 embracing $500, SD, 900,
$50 600, $40, 900 and $50, 900 commercial and
S2S, 600 private bankers at ! II cent discount;
$4,000 commercial and 200 private
bankers at 1872 $4,000 commercial, and
$4,000, S25, 900, $4,000 and $50 900 private
bankers at 3-16, and s25, 900 private bankers
at /.
The banks continued to check on New York
1T | p cent discount, and commercial sight
was quoted at l@3 Is, against 10 yester-
lay.
In Stocks we noticed sales of $50 shares
Louisiana Levee, preferred, at 50 SO.
The sales of Bonds included $1,000 City
Gold Bearing Seven Per Cents at 80, and
$4,000 New State Consolidated Seven Per ;
Cents at Al.
City Appropriation Certificates continue
Entirely nominal.
No sales of Metropolitan Police Warrants
we're reported. They were quoted nominal
It IS.
Nothing transpired in State Warrants. Old 9
we're still quoted at about 26 and new at 81.