The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-07-23
MONETARY.
OFFICE NEW ORLEANS BULLETIN,
Thursday Evening, July %, 1875.


OFFICE NEW ORLEANS BULLETIN, !
Thursday Evening, July %, 1875.
NEW ORLEANS CLEARINGHOUSE.
Cleanngs. Balances.
July H.. ............ s520,949 80 s72.75 SO
July 49, ............. 665 821 IS 126, lis GA
July ~ ......... 1o40f6 w vt, 403 "a
July 2l.............. 5O3,7s6 80 1882. S.
| July 22............. 602,t64 So 96,228 so
Thus far this week. 3 O27,6 II 497, 1923 81
q anne time last week. $780, 4S4 25 $50, 1888 So
Total last week. 354, 243 Is 69U,21 10
Total week before. 4,925, 692 81 SIS, 065 81
At the City Hall to-day number of holders
| of City Bonds presented coupons for the fifty
per cent payment as proposed in the ordi-
nance passed last week. The coupons were
stamped "halt paid" and returned to the
holders who were paid in checks of the Ad-
| ministrator of Finance upon the Louisiana
National Bank. The amount drawn was esti-
mated at about $780, 1t will be remem-
| bered that the ordnance proposed this pay
ment, provided the holders of the coupons
should signify their acceptance of the arrange
| ment by their signatures at the time of receiv-
| ing payment.
| As considerable interest has been mani
tested concerning the character of the paper
| to be signed, we give the text, which is as
| follows:
"We, the undersigned, holders of City
Bonds, hereby acquiesce in and approve Or
dinance $3.50 of the City Council, providing
| for the payment of so f9 cent of the interest
| collected, and to be collected, up to the LIST
of January, 1876, the balance to be used for
the general relief of the city government, re-
serving our right to be hereafter paid by the
city the balance due on said coupons"
We also learn that no definite advices have
yet been received from holders of City Bonds
a in IN Ha6
fund plan. The amount already subscribed,
however, is considered sufficient to ensure the
success of the scheme. At the drawing to
take place in September the city will repre-
sent the new bonds not exchanged for the old
ones. To illustrate, if four millions are ex-
changed by that time, the remaining sixteen
millions will be represented by the city in the
drawing for bonds to be redeemed.
The bonds thus drawn by the city payable
in full at three months, and participating in
the distribution of premiums at the time of
paymenD will be advertised and exchanged
for old bonds upon the best terms offered by
holders Of the latter. In this way it is e1-
pected the scheme will operate as kind of
sinking fund, until all tho bonds shall be ex-
changed.
The Money market presents no new feature
of special interest, The demand for dis
counts is reported good at some of the banks
and limited at others. On the street collat-
eral loans and commercial paper are in good
demand and very light supply, particularly
as to those descriptions of paper usually Of
fered at this season.
The market in Foreign Exchange is unset
tied and nominal, owing to the fluctuations
in Gold.
No transactions are reported in Stocks or
in City Bonds, which are dull and nominal.
New State Consols are quoted firm at pre-
vious rates.
We continue to quote first-class CONNER
cial paper and collateral loans at 8(99 79 cent
discount per annum, AL do at 10@12, and
second grade at 15@l8. First-class mortgages
still rule at 9@10 p cent per annum, while
second grade are entirely nominal
Gold opened at 113G 113a, against 113 at
New York, and, after a moderate business,
closed at 112i@112a, against 1922 in that
market, where 1t touched 1928 during the in
term. The sales summed up $4,000,
embracing $4,000 at 1l23, $4,000 at 1921,
$4,000 at 113, $4,000 at 113s, $4,000 and
$4,000 at 1l3a, $1,000 at 113s, and $4,000 and
$4,000 at 1873.
No sales OF Silver were reported American
half dollars were still quoted at 104@l05,
and Mexican dollars at 93@93l gold.
Foreign Exchange opened at previous rates,
but under the sudden decline in gold at New
quoted nominal at decline of 40 % cent
for sterling and ] for francs, but under the
subsequent rally IN that market it recovered
the falling off and closed about the same as
yesterday.
No sales of sterling were reported.
The sales of francs included 10000 private
bankers at 4.57I, and 10000 commercial at
62A.
AT the close sterling bills we're quoted nomi-
nal at 5.47@5 4S for bill of lading and AL
clear and -@5.52 for bank, and francs at
4 65 for commercial and 4 60 for bank
The offerings of New York sight continue
very limited, and with a moderate demand
rates are unchanged. The sales comprised
$1,000, embracing 500 commercial at
9-32 b cent premium, and $40, 900 and S25 900
bank at SIG.
The banks continue to check on New
York at p cent premium, and commercial
sight is sull quoted at -@5-l6.
No transactions were reported in Stocks.
City Bonds continue dull and nominal
The sales included $4,000 New Currency
Seven Per Cents at 80. and S74OO at -; they
closed at about 32I @33, and Gold Bearing
series, and at -@344 for Administration
series
New State Consolidated Seven Per Cents
were firm at yesterdays closing rates of 54!@ |
SIS. The sales included $4,000 at 541, and |
$1,000 at So. The offerings are light
City Scrip is without any apparent move
ment, and is still quoted at 3S939.
No transactions were reported in Metropoli- |
tan Police Warrants, which continue to rule |
at 6566S.
No sales of State Warrants were reported !
Issues of "a were quoted at 40(945 for large, |
against 43945 yesterday, and $50 fer small, |
against -G47 yesterday, while 1873 and pre-
vicus wears. fnndable, continued tn rule at |
35@36, and do, not fundable, at-@29.