The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-09-09
MONETARY.
OFFICE NEW ORLEANS BULLE Tin, I
Wednesday Evening, Sept. 8, 1876. !
NEW ORYHANs .,YrApTNa.uourr

In consequence of the scant supply of cash
Gold, our market continues to rule higher
than New York, where the recent advance is
attributed to the suspension of receipts from
the California mint. In our market silver
also is in light supply. and continues firm
under the demand for Texas.
The banks report fair applications for dis
count. distributed among the various
branches of trade. The receipts of cotton,
however, have been much lighter than was
expected, aud are not yet sufficient to give
any material impulse to business.
In consequence OF short business notes
being mostly taken by the banks, the offer
| ings on the street are chiefly confined to long
paper, which was offered rather more freely.
Foreign Exchange continues scarce. At
| this period Of the year the general tendency
of Exchange on New York is to lower rates,
the supply being increased by the proceeds of
of cotton sterling sold in that market, and by
drafts for shipments on spinners' account.
This downward tendency has been checked in
| the present season by limited movement in
| cotton, but was accelerated to-day by offer
ings OF considerable sums of Galv weston, and
also of Mobile bills sent here for negotiation.
The transactions were consequently at easier
rates, and quotations are reduced accordingly.
Only one transaction is reported in Stocks.
New State Consols are weak and lower.
We learn that the funding of over six hun
bred thousand of Old State Bonds was post
poned to-day on account of the lack of
quorum at the meeting of the Funding
Board.
There is no market for City Bonds at pres
ent rates. None are offering, and quotations
are nominal.
We continue to quote frst-class CONNER
cial paper and collateral loans at 8@9 ~
cent per aunum discount. Al do at 10@12, and
second grade at (15@l8. First-class mort
cages rule at 9@lO p cent per annum;
second grade are entirely nominal
Gold opened at 114s@l15s, against 1145 at
New York, and after limited business,
closed at 115@115s, against Isl in that
prising $4,000 at 1124, $1,000 at lis, $4,000
and $1,000 at 1154, $4,000 at 115l@1l5s, and
$4,000 at 115s.
No sales or Silver were reported. American
half dollars are still quoted at 10S@109, and
Mexican dollars at 943@95 gold.
Foreign Exchange opened at previous rates,
but under the subsequent advance in gold
at New York, ruled at one time ITO 70 cent
higher for sterling and ! for francs, after
which, under the decline in bills in that mar
ket, receded to its previous position, while
sterling francs retained the improvement
The sales of sterling comprised e150O bill of
lading at S 53t, a450O do at 5 "a, and $1,000
bank, at the counter, at 5 57t.
No sales of francs were reported.
At the close sterling bills were quoted at |
5. 52l @5.534 for bill of lading and AL clear |
and nominal for bank, and francs at 4.56 for |
and 514 for bank.
Under liberal offerings of Galveston and |
Mobile bills. New York Sight fell off p |
sent for commercial. The sales comprised |
$40, 900 bank ait q cent premium, $4,000 |
10 at 9,32, and S25, 200 bank at 5 IT,
The banks continue to check on New York
It / p cent premium. while commercial
light was quoted at 3-15, against -@5-16
The only sale of Stocks reported was SO
shares Old New Orleans Gas Light Company
It 1924 so.
Nothing TRANSFERRED in Bonds. City continue
teady and firm \ at about previous rates,
md New State Cdnsols quiet and weak and
Without quotable variation.
No sales of Metropolitan Police Warrants
sere reported. They are still quoted at 65@
Q.
Nothing was reported in State War
ants. Issues of 1874 were still quoted at
5@6O for large, and N60@65 for small; 1873
nd previous years, funSable, at 35936, and
%. not fundable, at -GS29.