The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-08-18
MONETARY,
OFFICE NEW ORLEANS BULLETIN,
Tuesday Evening, August II, 1876.
ORLEANS CLEARINGHOUSE.

The market to-day was more than usually
dull. At the banks the demand for Money
was less active. On the street offerings were
mostly of commercial paper for small amounts,
the inquiry being chiefyf or agricultural pur-
poses.
There was scarcely any movement in Ex-
change. Foreign bills are scarce
Securities were fiat, only one or two trifiing
transactions being reported.
We understand that for some time past
Mr.. Fourchy has contemplated resigning the
Presidency of the Mutual National Bank,
but was unwilling to do so until he could be
assured of the election of successor under
whose administration the interests of the
stockholders would be promoted, and that
at meeting of the Board today Mr.. John
I. Hardie, the Vice-President having con-
scented to serve, Mr. Fourchy rendered his
resignation, which was accepted, and Mr..
Hardie elected to fill the vacancy. At the
same time MIR. A. w. Bosworth was elected
Vice-President to fill the vacancy occasioned
by the election of Mr.. Hardie to the Presi-
dency.
The stockholders of the bank are under
obligations to Mr.. Fourchy for his disinte-
rested services, but may be congratulated on
the election of a successor so well fitted to as
sure the prosperity of the institution.
We continue to quote frst-class CONNER
cial paper and collateral loans at 500 p
cent per annum discount. AL do at 10@12, and
second grade at 15@1S. First class mort
cages rule at 9@lO p cent per annum,
while second grade are entirely nominal.
Gold opened at l12S@l13B against l13b at
New York, and after limited business, closed
at 112s@l13, against 1135 in that market.
The sales were confined to $4,000 comprising
$1,000 at 1125, $1,000 at 1125@l13, $1,000 and
S3O0O Of ia and $1,000 at 113l
Under the decline in gold at New York
sterling fell off 2-10 II cent, while francs, be-
ing in some demand and scarce, were I'M
changed. The only sale Of sterling re ported
was $4,000 at the counter at s. 55.
In francs we noticed sale of 900 bank
at the counter at 4.54.
At the close sterling bills were quoted at
5. 1895. 40 for bill of lading and AL clear, and
nominal for bank, and francs at 4614 for
commercial, and A. 74 for bank.
New York sight continues in limited supply,
and met moderate demand at unchanged
rates. The only sale reported was SIS, 900
private bankers sight at 9-32 q cent premium
and $1,000 commercial three days sight
at
The banks continue to check on New York
at T9 cent premium, and commercial sight
is still quoted at -@5-16.
RNo sales of Stocks were reported.
!. City Bonds continue dull and weak. Quo
tations are nominal.
MNew State Consols were less in demand,
and quoted at 49i 7a cent lower. The only
sale reported was $1,000 at "a.
Nothing transpired in Metropolitan Police
Warrants; they are still quoted at 65@6S.
State Warrants continued in good demand
for 1874 issues, which were quoted at 45(950
for large, and 50@55 for small. Warrants of
1873 and previous years, fundable, continued
to rule at 55036; and do, not fandable, at
-M29. No sales were reported.