The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-12-02

The demand for discounts at the banks was
moderate. ana all approved offerings were readily
accepted. On the street little or nothing was
done in commercial paper. Cash Gold receded
quoted above selling rates in that market. For
eign Exchange was lower and in fair supply.
New York sight gave way under more liberal sup.
plies and limited demand.
The Stock market continued dull and uninte-
resting, only few sales being reported.
City Bonds were stagnant, with no change in
quotations. New State Consols were reported in
demand and active, but were quoted a shade
lower at the close
The determination of the Board OF Directors of
the Bank OF America to go into liquidation hardly
took our financial circles by surprise. 1t was
well known that there had been such shrink
age in the deposits, and that much of its
capital locked up in real estate, that there
little nothing available left for business, and
that under the circumstances it might at an early
day be thought expedient to suspend active ope-
rations and wind up for the benefit of all con-
cerned, rather than defer the period until the
means Of the institution should be still more re-
duced
1t was hoped, however, by some of the old
friends of the bank that ere the measure became
inevitable, capitalists might come forward and
add enough to its capital to enable it to go on
with advantage to all parties interested. We re-
greet that the hope was not realized. Unlike SIM
liar results to some banking institutions in other
cities, there cannot be charged in this case any
official malfeasance The reputation of the Pres.
dent and Cashier stands as high at the moment
for integrity any bank officers in the country,
and no one will aver that both they and their
associates have not devoted untiring industry and
energy to the discharge OF their official duties.
We earnestly hope that both Will soon find an
other field for their talents, in which they will
prove m re fortunate.
We continue to quote exceptional paper at go
10 y cent per annum discount AL do at 129-,
and second grade at 15@1S. First-class mort
cages rule at 9GGl0 u cent per annum second
grade are entirely nominal.
Gold opened at 115$4 9l153s, against 1855 at
New York, and after a llmited business closed
The sales were confined to $4,000, embracing
$4,000 at 115I, $4,000, $4,000 and $1,000 at 1163S
and $1,000 and $4,000 at 1857.
No sales of Silver were reported. American
half dollars were still quoted at 1090gll0, and
Mexican dollars at 9411a@-- for gold.
Under the decline in Gold at New York and the
falling off in New York sight ip this market,
sterling was quoted &c lower, equal to about 40
Il cent, and francs u e cent: The movement
was of ia extent. Tue sales of the former COM
prlsed f61, OOO embracing f2O0O bill of ladlng at
5.4S, $4,000 do and Al clear at 54S5.4S1a, fl2 900
bill of lading at 54S1, f1500 do at 5.4S$4, $4,000
do at 5 499549, eli 900 do and Al clear at 1917
@5.49, and Els. 00U do and 5000 bill of lading
$40.
The sales of francs comprised 100000 com.
mercial, embracing 100000 al 4.6114, and 250,-
900 at 4.6O@4 599}s
At the close sterling bills were quoted at 5.47H
@5.4S1a for bill Of lading and Al clear, and noml
nal for bank Counter rate -Gg55211a), and francs
at 4.61149 30 for commercial, and nominal for
bank.
The offerings of New York sight were Of fair ex-
tent, but meeting with moderate demand COM
mercial fell off fully q u cent. The sales COM
prised $235,0O0, embracing $4,000 commercial,
80 900 and SIS 900 private bankers and s125, 900
do and bank at - U cent discount, $4,000 COM
mercial at TIC, and $4,000 commercial and $780,:
900 private bankers at Is. We also noticed
sale of $4,000 commercial on Providence at %
u cent discount.
The banks continued to check on New York at
a p cent discount while commercial sight was
quoted at % against 5sQ SIG yesterday.
The sales OF Stocks included 10 shares Car
rollton Railroad Company at $40, 20 Sun Insur-
ance Company at SIS 80, and 20 Factors and
Traders Insurance Company at $S7.
City Bonds were quiet and unchanged, and
New State Consuls ruled at yesterdays quota
tons nearly up to the close, when they were
offered at 584, against So 4 lg58H yesterday. No
sales Of the former were reported. The sales OF
the latter comprised 100000, embracing $4,000
at So, $4,000 and $4,000 at $50, $4,000 and
&c. 900 at 581Ia, $4,000 and $4,000 at So 5, and
$4,000 at 58344.
Metropolis an Police Warrants are still held at
75gS0. No transactions are reported.
Nothing transpired in State Warrants. Issues
Of 1874 continue nominal, and 1873 and previous
years, fundable, are sill quoted at 400-, and
do not fundable, at -I130.