The south-western. [volume] (Shreveport, La.) 1852-1870, 1867-04-24
New York News.

The New Orleans Picayune's special correspondent
''Anteope" writes as follows to that paper on the
9th inst
The gold market was in high fever of excitement
yesterday, and for a long whe-an hour at least-the
majority of operators all in the dark as to the
cause of the sudden and important advance The
market opened rather firmly at 335, to $780, then
to A. A, s. and finally touched So, at which moment
it transpired i'll the Room" generally, that bonds
in London were down to TAI, a fall of Il per cent as
compared with the closing quotation OF Saturday.
This news was first communicated to parties here in
special dispatches from London, which arrived about
1O4 An, and beat the press dispatch an hour.
Those who thus received the important intelligence in
advance, were enabled to make of it, and though
the dispatches did cost fifty dollars in gold apiece,
they richly WORTH to their pos5essors, fifty times
that sum--the advance in gold being per cent, and
the fall in bonds here per cent. Heavy purchases
of the former therefore, and short sales Of the latter,
Cat their top figure before the news was publicly
KNOWN must have resulted most handsomely to those
who we're in possession Of the news.
The first symptom Of the "war panic" (so-called)
abroad was visible to a keen eye in our papers Mon
day morning, which contained telegram from Frank
fort in these words "Bonds H." This
Sunday and was the first Sunday quotations we had
had since the laying of the cable.
On Saturday, the market at Frankfort closed up
with apparent frmness, at ISL. What could mean
this fall and II on Sunday?
The telegram set bankers to thinking, and it was
not long before 1t was further Verned by the appear
ance of German houses here, in the market, with
bonds to sell on foreign account. Still, explanation
of the mystery gwen. All that Wall street knew
was the decline at Frankfort and the offering OF bonds
for sale by foreign agents here Wherefore this sud
den change? Last week the Germans were ready
BUYERS; what had induced them to become as anxious
sellers?
At 1890, as have said, the London market came
over to private parties at 744 and this was made
splendid Of for their benefit; but there continued
lack Of the reason for all this upsettng Of values.
About r. it came: "A war panic prevails" Fol
lowing this were private advces Of "threatened wal
between France and Prussia; decline in the French
rentes of 2 per cent; pressure of bonds in the
London market, for sale on continental account; d
tumble of per cent in consos, and general sym
pathetic tumble in railways and everything else, nclu
ding cotton of course which, it seems, had not tum
bled enough!
Wall street was ali taken aback with the news which
came like clap Of thunder in clear sky. Could il
be possible that Louis Napoleon was going to fight
Prussia for the purpose of making sure his hold upon
the Duchy of Luxembourg? Careful caculatoTs could
not believe it. What, fight, when the worlds exhibi
ton of the arts of peace in full blast in the beau
tiful capital Of France! Nonsense! The Emperor
Napoleon would do nothing of the kind. lie was moi
prepared for russell with Prussia, aud it would take
him a year, at least, to get ready even were he de
termined upon fight.
The idea was generally secuted and the French Sec
retary of State has to-day delivered speech which
shows tie "panic" TO have been "oue very great
scare"
1t did serious mischief, however, panics generally
/ do and our money, gold and stock markets are ye
suffering from its effects.