The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-05-18

A slightly increased demand for money
| from mercantile sources was observed at one
| or two Of the principal banks. We also heard
of better inquiry on the street. The move
ment, however, was not sufficiently important
to make any change in the general aspect OF
the Money market The offerings included
mere commercial paper. There were also
some applications from factors.
The demand for money and advances from
| the country is increasing. but, as yet, is re-
sponded to with much caution, as it is toe
early in the season to base calculations upon
the crop prospects.
limited movement in Gold and Foreign
and Domestic Exchange to-day show ed a
slight advance in Gold and a falling off in
commercial sterling and francs, while the rates
of Domestic Exchange we're without quotable
variation. Stocks were quiet, the few transac-
tons reported showing no material change
from Saturdays quotations.
A few State Bonds were sold at trifing
decline, while in City Bonds we heard OF
no transactions. Other securities show no
marked change in quotations. The New Or
leans Gas Company made an additional dis
tfibution of old and new stock among its
holders in accordance with the notice previ-
ously given.
We learn that prominent New York Lankers,
have lately applied for official information
concerning the status of Louisiana New Seven
Per Cent Consolidated Bonds with q view of
placing them on the New York Stock Ex-
change, and that the information is now in
course of preparation for transmission.
In relation to city finances, the Premium
Bonded Fund plan, submitted in Mr.. Pills.
burys pamphlet, excites considerable interest
and discussion. In brief. the plan is to con-
vert the present bonded debt into new issue
of twenty dollar five per cent bonds, having
fifty years to run. The interest is not paid
annually, but certain number of the bonds
is to be redeemed every year, principal and
interest. The bonds to be redeemed are as
certained by semi-annual drawings. In addi-
ton to the payment of principal and interest,
q bonus Of $1,000 is to be distributed in
premiums among the holders of the bonds
redeemed each year. It is thought that the
plan will be popular when it becomes gener.
ally known, at the same time it is not received
with favor by certain holders of the older
issues. The explanatory pamphlet, which
gives full details of this project, was freely
distributed in our financial circles to-day, and
will, no doubt, attract general attention.
The following were to-day elected directors
of the Louisiana Sugar Shed Company:
Messrs. Jules A. Blanc, T. S. Senill, P. Mas
peru, Z. hAVCu, o. W. DuIOIluSc, ". y.
Nicholson, A. Levi, R. Y. Charmbury, ~.
Warren, D. A. Chafraix. E. F. Stockmeyer
and q. Bidwell.
We continue to quote first-class sixty days
paper and collateral loans at 500 y cent per
annum; AL do at 10@12, and second grade at
l5@1S. First-class mortgages still rule at
9@lO ~ cent per annum, while second grade
are entirely nominal
Gold ruled all day at 115l@116, against 116
at New York. The business done was mode
rate, the sales comprising only $4,000, en-
bracing $4,000 at 114a. $1,000 at 115E. $40, 200
at 115s@1l6. and $4,000, 5000 and $1,000 at
116.
No sales of Silver were reported. American
half dollars were still quoted at 1850 1881,
and Mexican dollars at 96@964, gold.
Sterling Exchange was dull and LILO y
cent lower for commercial, while bank was
LILO p cent higher. The sales were confined
to els. 600. embracing $4,000 A 1clear at 5.614,
92OOO bill Of iading, and G1500 and E250O Al
clear ct 5. 81. $4,000 bill of lading at 5.62},
and 1000 bank at s. IS.
Francs were also shade lower. The sales