The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-01-30

The offerings Of Foreign Exchange were mod.
crate and rates unchanged, while New York sight
under good demand was quoted at an advance.
The stock market continued active. The invest
ment demand heretofore noticed is on the increase
and is attended by better feeling in most secu.
rites, and in some cases by marked advance.
City Bonds were in fair request, and, as indi-
Gated BY the auction sales. fully maintained yes
terday's quotations. New state Consols were in
somewhat better demand and quoted stronger.
We continue to quote exceptional paper
at -Go " cent per annum discount, AL do at
9@10, and second grade nominal. First class
mortgages rule at 9(G10 q cent per annum,
while second grade continues entirely nominal.
Gold opened at 1127s9l13h. against ll3 at
New York, and after moderate business, except
in speculative way, closed at the opening rates
in both markets. The sales summed W. S54 coo,
at 1l3; $4,000 at il3@1l51s; s50O0 $4,000 and $50,
600 at 1885, and $1,000 at 1l314.
The sales on speculation were not reported.
No sales of Silver were reporter. American
half dollars were still quoted at 1041aGl105Is
and Mexican dollars at 9l111z, gold, for new and
92I, gold, for old.
Tbs movement in Foreign Exchange was of
moderate extent, and the market was firm
prised f67 500, embracing $4,000 and $4,000 bill
| of lading at S.43 and EGO 900 do, 100000 DO and
AL clear at 5.431544, 100000 bill of lading at
5.431a15 A, aud f35OO bank at 546L.
|
| commercial at 4.46l..
At the close sterling bills were quoted at 5.421a
@5.43la for bill OF lading and AL clear, and bank
At m@5.46 Il lbs s counter rate .554O, and
bank
The offerings of New York sight ware of mod
craze extent, but meeting with good demand the
market closed q q cent higher for commercial
and the bank checking rate on New York. The
sales amounted to 1888 900, comprising $40, 600
private bankers at SIG y cent discount, s2S, 900
commercial and $4,000 private bankers at 9-32,
s25 900 and $4,000 private bankers and bank at
3-l6, and $4,000 commercial and $4,000 bank
at Il.
The banks checked on New York at "a U cent
discount, against a yesterday, and Commercial
sight was quoted a, s. 1904, against SIG yester-
day.
The sales of Stocks, outside Of the Stock Ex-
change, included shares Merchant Insurance
Go. at $50 so, so do at $50 So 20 Crescent Insur-
ance Co. at SIS, Is and % do at SIS so, "a St.
Charles Street Railroad Co. at s73 so, 25 Carroll
ton Railroad Co. at sS5 so, and Canal Bank at
s94. Also, at the stock Exchange, S shares New
Orleans Insurance Co. at $21 Is.
Also, at auction, by Messrs. Hoey Il O'Conner,
10 shares New Orleans Insurance Association at
$40 50 by Mr.. G. +. Grardey, 100 shares Louis
Nessrs. Macon, Ellieon g. Co.. Q Louisiana Mu-
tual Insurance Company at Sc, 2 Delta Insurance
Company at So, 20 Home Insurance Company at
s22, 100 State National Bank at 500 81, 100 Cres-
ance Company at s87 Is, 63 Factors and Traders
Insurance Company at $50 50, do. q: s9l 5 Ca
nal Bank at $93 so, Bienvlle Oil Works at
500 so, so New Orleans City Railroad at sl25, 8
new New New Orleans Gas Light Company at sl26
and 80 old do. at $3.50 so.
City Bonds exhibited better feeling, but
were without quotable variation from yesterday
!, closing Of the Stock Exchange. The lies in
} cluded s15 600 Premium Issues, at 49, $4,000 do
at 31l4; $4,000 past due Railroad Issues at i
$1,000 New currency Seven Per Cents at 3214
$500 Gold Bearing Seven Per Cents drainage
series), at 33 $1,000 and $4,000 do at 351aa Z, also
at Auction by Messrs. Macon, Elieson q Co
$1,000 New Currency Seven Per Gents, with the
June and December Coupons on. at So, and by
Mr.. G. E. Girardey, $1,000 Old Currency Seven
Per Genus at 3lh, $4,000 new do at 81, and u
Water Works at 32sI.
On November 10, the Stock Exchanges officially
quoted old City Currency Bonds at 81, against q
tor new; on Dece mber 81, old at 27l1012SL.
against 2702S for new; on January Z, old Az ~
against q for new; the 14th, old at 2Si 3
against % for new and on the 21st, old at II =
against 81 for new.
Prominent members Of the Exchange attributed
the preference indicated by the above to more in
tere being due on the one than on the other
which we mentioned in our report, but feeling
some doubt on he subject, on Friday We appliec
for an explanat Oh to the President OF the Stock
Exchange, who wrote for us the following:
"The ruling of the stock Exchange is that
where any coupon is partially paid, offerings and
stance, City Bonds, where any coupon is hall
paid, the bid or Uffsr is upon the basis of that
coupon being off entirely. Therefore Gold
Bonds, Administration series, sell with January
1875, coupon Oh, Drainage series with 1t on.
} "ren Per Cents sell with October 1875
; coupon off Old City Seven Currency, since
the city commenced paying half September
coupons, now sell ex that coupon, having
only March, 1876 attached. while New
!, City sevens Currency sell with December
1875, on. Under this ruling the new Sevens Car
ry three months more interest than the old, ano
} in funding, for Premium Bonds, holders Of the
new Sevens will receive one months interest IL
cash, while holders of the old Sevens, bought
unuer Exchange rules, will have to pay the city
| two months interest.
''If the Old City Sevens, therefore, are selling
for more than the New, 1t is through some pre-
ference on the part VI buyers and not for any ad
want &c in interest," that ad, antase being on tie
other SIDE"
| This was written for us at our special request
but, being properly reluctant to give the informa
ton to one reporter, the President furnished q
copy OF it to a contemporary. That which wa:
intended for us failed to reach us this morning
and We now give it verbatim, the copy published
by our contem. orary slightly differing from the
original before us. Yesterday evenings quota
tions put the old bonds at 81 against 3l11aa9321z
for the new.
The offerings OF New State Consols being more
moderate, and the demand better, the market
sales sale included SO, at 6 $4,000 and $40 ooi
at 661la, and at auction, by MIR. q. E. Girardey,
$4,000 661a; also, at the same auction, $1O,O0C
} Louisiana Levee Company issues at 3O%
No sales Of City rcrip were reported. Time is
now quoted at 1904 for August to December
1873, and July to December. 1874, and 49GD5l fol
June aud part of May, 1874.
Nothing transpired in Metropolitan Police War
rants. They now rule at 9O99l for 1872 70 and
1874 issues, but continue entirely nominal
f)r 1S6S-69 and 1S7I-72.
No sales OF State Warrants we're reported
Fundable are now quoted at 4G(04S, do not funda'
BILE at %, and 1874 issues at 3594O.