The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-07-28
MONETARY.
OFFICE NEW ORLEANS BULLETIN,
Tuesday Evening, July n, 1875. I
NEW ORLEANs NEUTRALITY-SUSPICIOUS.

we near OF no new orleans interests being
affected by the failure of Duncan, Sherman 1
Co., reported BY telegraph from New York
this morning. We are informed that the
branch of the house here (Which was closed
last month for the summer season) is not in
volved. Some conjectures concerning the
cause of the suspension of this well known
house attributes the cause to cotton specula-
tions. The general opinion, however, seems
TO point to their connection with the embar-
easements Of two important railroads of which
they have lasely been appointed to the re-
ownership. At this writing we have no in
formation as to the liabilities.
The news was received with general aston
ishment here, as probably few houses in
America have heretofore stood higher in the
confidence of business men. It is confident
ly anticipated by their friends that the sus-
pension will be only temporary.
At the banks to-day the demand for dis
counts was moderate and the movement per-
hsps lighter than usual. On the street little
or nothing was done in commercial paper, of
which the offerings we're limited. Gold was
fuctuatiDg and unsettled, in correspondence
with the excl ement in New York, which also
affected the rates for Foreign Exchange
As will appear from our report of transac-
tions below, Stocks were comparatively 49,
tive, while City Bonds were dull and nomi-
mel, and New State Consols were stagnant.
The payment Of half interest upon City
Bonds under what is known as the SO u
cent ordinance, seems to be generally accept
ed by the holders, so far. The coupons pre-
sented represent all classes and denominations
named in the ordinance, and the greater part
Of the payments contemplated have already
been made.
We continue to quote first-class CONNER
cial no mar and cO1lataro1 loans Of 2IAQ 10 oop<
per annum discount, AL do at 1O@12, and
second grade at 15@l8 First class mortgages
still rule at 9010 y cent per annum, while
second grade are entirely nominal
Gold opened at 112a@1134, against 112a at
New York, and, after limited business.
closed nominal and unsettled at 113@114,
against 114t in that market, where the mar
ket was excited during the interim, and
touched ia at the Gold Room, and 116 on the
street The sales we're confined to SIC, 000
$1,000 at 1l2ss !. $1,000 at 113, $4,000
at 113a, $4,000 at la, $1,000 at 11444 and $1,000
at 11la.
No sales Of Silver we're reported. Owing to
the unsettled Gold market at New York,
lars being quoted at 105@l06, against 104@
los yesterday. and Mexican dollars at -@93t,
against 939934 yesterday. Most of the re-
ceipts are transshipped to New York.
Under the fluctuations in Gold at New
York, Foreign Exchange was very unsettled,
and was quoted at the close nominal at nearly
| p cent higher for Sterling and for francs.
The only sales reported were el0O0 bank Ster-
ling, at the counter, at 5.56, and 225, 900 COM
mercial francs at -.
At the close Sterling bills were quoted
nominal at s. so for bill Of lading and Al clear,
and nominal for bank, and francs nominal at
i.63a for commercial and 60 for bank.
We noticed quite a liberal movement in
Stocks to-day, the sales and resales Of Mutual
Insurance Association, Crescent, Commercial
md Factors and Traders Insurance compa-
MES, new New Orleans Gas Light Company |
md New Orleans City Railroad Company ae-
nearly 200 shares, but as usual the |
PARTICULARS were withheld.
City Bonds continue dull, weak and nomi-
nal. The only sale reported was $1,000 |
Jity Gold Bearing Seven Per Cents, with |
coupons, at 34f. City Currency Seven Per |
Cents are now quoted, ex half coupon, at
'21; Gold Bearing Seven Per Cents, Drainage
series, with coupons at SO; do Administra-
ion Series, ex half coupon, 331; Water |
Works at a. Ten Per Cents at $50, and
Did Consolidated Six Per Cents at A.
No sales of New State Consolidated Seven
Per Cents were reported. At the close SO!
vas bid for them, and 53a asked.
Nothing was reported in City Scrip 1t is
till quoted nominal at 3SGG39.
Metropolitan Police Warrants are quiet.
10 sales are reported. They are still quoted
t 65@68.
State Warrants are apparently without any
movement. Issues of 1o74 were still quoted at
O@45, 1873 and previous years, fundable, at
5@36, and do, not fundable, at ops