The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-12-21

Gl6a;1ugb. EalAf cSs.
December S.. 50, 133,39t 10 1899, 7S8 60
December 20. ...... 1852, l22 Il l63,397 II
Thus far this week. 4,765, SIG 81 503,385 II
Same time last week. 4,301 $40 " 34S, 500 81
Total last wee H.. ID 300 us % 1,353,325 81
T0tai week before ID 325314 56 ,233, UoS 20
The opinion of Judge Woods, delivered to-day
in the United States Circuit Court, i'll the Of
the hlaenbaut heirs against the city ct ala, upon
a motion by the compartments for preliminary
injunction, and for receiver, will be found In
another column, and will be read with general
interest 1t will be seen that the cOur5 decides
that so much OF the %: section of the act of
1852 provides for the manner in WI lch the tax to
pay the consolidated bonds is 10 be collected,
and the safeguards for its levy and collection, Is
a contract with the bondholders, who are entitled
to exact its substantial performance. The money
specially collected to pay this III crest Is declared
to be the fruits of a contract between the city
and the state and the bondholders, held by the
city in tduciary capacity, and subject to the
trust to apply the funds to the object Tor which
they were collected.
The Judge considers the funds in danger of be-
ing applied to other purposes, ana orders that the
injunction Issue to restrain the defendants from
such diversion, permitting the complal nants to
renew their motion for receiver Ill case OF FUR
Their default. This decision however, does not
apply to those holders Of the old consolidated
bones, who consented to the terms OF the " half
pay ordinance. The opinion Is confined mainly
to the dscussi Of the above points. as the only
issues presented in the motion.
The following were to-day elected directors Of
the Peoples Bank r. NJ. Davis. Joseph David,
Geo. W. Dunbar, J. J. Reiss. A. Socola, NJ. d r
The New Orleans City Railroad Company
elected the following Board Of Directors: B..
| Biscoe, J. W. Burbrdge, j. NJ: Demsrest, Fl.
| CALI, G. II. Heck, Z. irwin, James Jackson,
Charles Manson. Il. VI. U'Brlen Thomas blmns,
| J. Fl. stsutfer, L. Wintz.
The market was quiet and without any ma
| teral change. The demand at the banks was
| moderate, and on the street offerings were lin
| tied and Money easy. Gold and Foreign Ex-
char &c were lower, while New York sight was in
| better demand at higher rates.
| We continue to quote exceptional paper at -
| a9 ID cent per annum discount, AL do at l0l3l1,
and second grade at 150l5. First class mortgages
still rule at 9GGl0 y cent per annum,
and second grade continue entirely nominal.
| Gold opened at 49, 4Wl1312. against 1885 at
| New York, and after moderate business, closed
at 113b91132s &c lower than on Saturday,
| against 1885, in that market where it touch ed
| 1889 during the INTERIM The sales summed
up s43 900, EN- oracing $4,000 at 1885, $4,000
$4,000 and $4,000 at 1872. $4,000 at ll35 s. $le,0Ot
at 1135s0g1133+, and $1,000 at 1874.
No sales Of Silver were reported. American
half dollars were still quoted at 109G1lO, and
| Mexican dollars at 50 gold
| Under the decline in gold at New York, Foreign
Exchange ruled at much lower rates, and showed
falling off at the close Of fully &c for sterling
/ 4
| francs. The movement was moderate in both
| The sales of the former comprised f45, 1900, en-
bracng f2e00 Al clear and 100000 bill of ladine
at $751; 921 900 bill Of lafIng at 5.44GG5 4G
| $4,000 do at 5.451a015 4G, fl500 do and fl5OO A.
| clear at SAG, and $1,000 bank at $50.
The sales of francs comprised $1,000 CONNER
cisl, embracing 10000 al -. 900 at 1920
1915, and 2 5000 at 4.6l7s@l6o@s.
| At the close sterling oils were quoted al
| 5440l5 As for bill Of ladng and Al clear
and 055.49 for bank counter rate at -lG5.49Ra
and francs at G3&4 G94G2la for commercial anG
nominal for bank.
The offerings of New York sight were of fai
extent, but meeting with a good demand, closet
nearly "a per cent higher for commercial
The sales comprised 1892 900, embrs cling $685.
600 commercial and S15, 600, $4,000, $685. 90 am
$4,000 private bankers at "a Il cent discount
$4,000 and $4,000 private bankers at 1532 ant
$4,000 and SIS, 900 commercial, ana $4,000 anC
100000 private bankers at TIC.
The banks continued to check on New York al
| Il u cent discount. while commercial sight wa'
still quoted at 7-l6G52s against "a on Saturday
| The only sales OF Stocks reported were % share
Peoples Bank at $50 80 and so Factors and Ira
ders' Insurance Company at $50 30
Under the prevailing uncertainty with regar(
to the decision mentioned above and conflicting
views Of it. TENOR City Bonds were unsettled and
nominal. The only sale reportt d was $4,000 CIT.
Gold Bearing Seven Per Cents at 27@4.
New State Consols were dull and lower, bein!
quoted at the close at "a +@5514, against = ass
on Saturday. The sales comprised $1,000 at %
$4,000 at 551L Sl200Gat 50 4 and $1,000 at 50 !
owing to t. better demand City Scrip wa
higher. being quoted at 47tGfS for August t
December, 1878, Time, and July TO December
1874, while June and part of May 1874, contin
ued to rule at 5G@52 40 sales were reported.
Metropolitan Police Warrants continued t.
rule at G31l65 for 1872 3 issues. and at 75078 10
1894, while 1912 and 1868 9 were still quotet
entirely nominal.
Old State Warrants, fundable, were still quote
T,,l