The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-05-20
MONETARY.
OFFICE NEW ORLEANS BULLETIN, |
Wednesday Evening, May 10, 1876.
NEW ORLEANS CLEARINGHOUSE.

The increased demand for money noticed
yesterday has somewhat subsidized, and the
market to-day was more quiet. The offerings
on the street of good commercial paper were
| limited, and found ready takers at unchanged
rates. Bankers, however, appear to anticipate
more general activity at an early day, and
predict that there will be sufficient yolums
of business to employ large proportion OF
the surplus capital now on hand.
The demand from the country for money
and supplies appears to be increasing, but is
responded to with much caution, as 1t is yet
too early in the season to base calculations
upon crop prospects. The sales of Gold were
light, showing again slight advance. The
movement in Foreign Exchange was limited
and without change in rates, except for COM
mercial sterling, which ruled shade higher.
Domestic Exchange is scarce and high, which
accounts for the shipment of currency by the
banks to the North. The Stock market con-
tinues quiet and uninteresting
Few transactions are reported, and there is
little demand except for leading stock. The lat
ter, however, appear to hold we'll up to previous
quotations. City Bonds were steadier. New
State Consols exhibited some animation. and
were variously quoted, as will appear below,
from 56b@579.
Slate Warrants and Metropolitan Police
Wa rants both show an advance Of to f9
cent. We learn that parties liable for back
taxes to the city are coming forward freely,
urged by rhe announcement that City Scrip
will not be received in payment of these dues
later than the LIST prox., in consequence OF
which there is better inquiry for this securi-
ty.
At the session of the Funding Board to-day
a large amount of Old State Bonds received
in exchange for consols was burned The
amount thus destroyed is now set down at
SIS, OOO, coo, showing reduction of the debt
to the extent of $4,000, 900, or 40 per cent.
We continue to quote first-class sixty days
paper and collateral loans at 500 p cent per
15M18. First-class mortgages still rule at
96lO ID cent per annum, while second grade
are entirely nominal.
Gold opened at 116@11 against 116f
at New York, and after moderate business
closed at the opening rates in both markets,
touching 116a during the interim at New
York. The sales summed up $4,000, en-
bracing $4,000 at 115s. SIC, 900 at ZIG, and
$4,000, $4,000 and S12, 1000 at 116B, $40. 1000 at
1l6l, and $4,000 at 116a.
No sales of Silver were reported. American
half dollars were still quoted at loS(9loSa'
and Mexican dollars at 96@969, gold.
Under the influence of the slight improve
ment in bills at New York, Sterling was about
ITO 19 cent higher. The movement was linn
tied, the sales being confined to El3. 700,
embracing $1,000 bill of lading at 5.62, 9l2OO
and 1880 do at 5.63, and el0, 600 bank at -.
Francs were unchanged. The only transac-
ton reported was e3O0,00 commercial at
4 All.
At the close Sterling bills were quoted at
5.62@563 for bill Of lading and Al clear,
and -@5 65b for bank, and francs 4.474 for
commercial, and 4 43a for bank.
Nour VorL c;pbk oopf;puoc in ohk ur1pp1v
and moderate demand, while rate are un-
changed. The sales comprised $4,000, en-
bracing $4,000, $4,000 and 500. 900 COM
mercial and $40, 600 and $50, 900 private bank
ers' at SIG 19 cent premium.
The banks continue to check on New York
at s - cent premium, and commercial sight
is still quoted at SIG.
Stocks were dull The only sales reported
were and 40 shares Old Gas Light Company,
ex surplus dividend, at $780,
City Bonds were steadier, but no sales
were reported. New City Currency Seven
Per Gents were quoted at 31@31a and City
Gold Bearing Seven Per Cents at 34(G34l.
We noticed more activity in New State Con-
solidated Seven Per Cents, which opened at
about 565656a and sold as high as 57a, but
were offered at the close at 81, without meet
ing purchaser. go
The sales and re-sales summed up $4,000,
SIS, 600 at 565, $4,000 at $50, $50, 600 at 81,
$4,000 at 57i, $4,000 at 57s, and slO,ooO at
578
No transactions were reported in City Scrip;
1874 is held at about 4l@42.
No sales of Metropolitan Police Warrants
were reported. They were quoted at 7O972,
against -@70 yesterday.
We noticed more animation IN State
Warrants, particularly in Warrants OF 1874,
whichwere y cent higher, the sales OF
which included 5000 at All, $4,000 at
"A, and $1,000 small at All; they closed
at about 42@A. Warrants Of 1873 and
previous years, fundable, we're quoted about
37@3S, do, not fundable, at 500, and