The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-04-25


In the early part Of the day we noticed gen
eral iul in financial circles, operators awaiting
the Developments Of the last days session Of the
Legislature, and When finally the adjournment
sine die was announced, there WAS a general cls-
appointment that little had been accomplished
and SO many bill defeated or not acted on which
were expected to have beneficial influence. At
one tine, in fact, there was r semi-panic in New
City Seven Per Gents and Gold Bonds, which was
followed, however, by a renewal OF confidence
and rally in prices.
The actual course of the market is shown By
the details below. Nothing transpired in COM
mercial paper of much interest. Gold slightly
improved and both Foreign ard Domestic Ex
change, though showing fair degree Of ANNA.
ton, exhibited scarcely any variation. Owing to
the high pretenslons OF sellers, stocks were
almost at stand still, and new State Consol-
idated Seven Per Cents were dull and weaker.
Among the measures which finally passed the
Legislature to-day was an act to relieve tax pay
ers, to reduce the outstanding Indebtedness OF
the State, and to provide for the remission Of in
terest and penalties on certain unpaid taxes and
for redemption Of property sold for taxes. The
first section, which D, DIVIDES that call valid war
shall, during the year 1875, be receivable in pay
ment Of all taxes due the state which have be-
come payable and exisibe in the year 1878, and
in all preceding years. and IN payment OF all taxes
falling due and exiglb!e in 1874, except such
taxes for 1874 as are by constitutional provision
required to be paid in U. s. currency
The act to regulate the Park tax, and for the
| reduction of the general fund tax, requires the
| Commissioners of the Park to make an estimate
Of the sum required to meet the annual notes
due and secured by mortgage on the property
| by the board, and such expenses not to exceed
s5O0O as are unavoidable, and provides that, after
this sum shall have been deposited according to
fund.- the tax for the latter to be diminished pro-
portonately. 1t is estimated that this will effect
| consider able saving to the city.
| It is also estimated that the measure which
| limits the expenses If the Metropolitan police
will probably resu. in an annual saving Of about
| 100000.
We continue to quote fi,st-cass sixty days
paper and collateral loans ct 500 per cent per
AMIN, AL do at 1OWl2, and second grade at $50
49, First-class mortgages still rule at 30lO per
cent per annum, while second grade are entirely
Gold opened at 1151s@l1597s, against 115l4 at
New York and, after a fair business, closed at
l15a4 Mll5ss, against llo5s at New YORK, showing
slight advance in both ma kets. The sales
SUNNI. up $4,000, embracing $4,000 at 1151s.
$4,000 at 1l5l4, s6o, 900 at 1151ll55 and s5OOO
and s. 600 at 1865.
Silver continues without any apparent movs
ouote: American half dollars 10,MlOSlaa. while
Mexican dollars continue to iule at 961 aa0y gold
| Foreign Exchange exhibited fair degree OF
| animation, but scarcely any variation, except In
francs, which closed barely an 4 I. cent higher.
The Gales Of the former amounted to 100000
comprising s1SOf0 bill Of lading and AL clear at
559ii sGl5.6,, 5000 bill of lading at $3.50, and
1900, $500, 5000 and $500 do at $50, and OF
the latter 2t0.000 CONNIE cial, embracing lOo,-
GEO at 4.5l ;, $1,000 and 30, 900 at Adj and 20
| 900 at 4.50.
At the close Sterling bills were quoted at $50
N15.60 for bill of lading and AL clear, and 5Gl
0l5.621laa for bank, and francs at 4.5lW4.5O for
commercial, and i.471l 90 for bank.
New York sight was fair demand and mode
rate supply, ruling at about previous rates. The
sales comprised 100000 embracing SO, 600 COM
mercial at 4 = cent premium, $4,000 do, aud
1000, $4,000 and $4,000 private bankers at
| 90 and $50. O00 commercial at 9-32065-16.
| The banks continue to check on New York at
! % y cent premium, and commercial sight was
| still quoted at J-3l.
We heard Of a few transactions in Stocks,
| tho proceedings of which were withheld. There
appeared to be a lull the market, which may be
partly attributed to buyers being unwilling to
meet the high pretensions OF sellers.
CITY Bonds opened with manifest disposition
| on the part CT buyers to await u'ther develop
ments in the Legislature, but when it became
known that it had adjourned sine die without
passing the measures expected, somewhat or a
panic seized few holders who parted with their
New CITY Currency Seven Per Cents at AZ +
cent less than yesterdays quotations, ana 'helf
both, however, subsequently rallied FULLY q
y cent at which they closed with rather an up
ward tendency. The sales OF the former amount,
ed to $4,000, comprising 5000 at 32la, soooo ana
s' o. emsracn ana 5000 and N p It Sic
$1,000, $4,000 and $4,000 at 30. The closing rates
yesterday were respectively 81 and 81
New State Consolidated Seven Per Gents were
dull. and were quoted about 5sNG5o shade
lower thsn Yesterday. The only sale reported
was 200 at IS.
~ Transactions were reported in City Scrip,
which WAS still quoted at 39l al.
No sales we're reported i'll Met opoltan PoNce
Warrants, which were quoted at about 50, against
55056 Yesterday.
! Nothing was reported in State Warrants. CID,
not fnndable. We're still quoted at .. old, fund
able, at 35@36, and new at 80.