New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-07-02
ON cARoNpELEr STREET.

huge sensation. There has been no dis
count in, around, upon or under it, not
outstanding it has affected the brokers.
The great steamboat race-if we can be
permitted to call tia race, after the liberal
advertising which has denied all intention
Of such sport-has absorbed universal
attention. Slaughterhouse has been per-
mitted to 60 down, and Ship Island to rise
without diverting attention from the i'm
portant question at issue between the Lee
and the Natchez. They are not racing,
however. simultaneously the respective
captains have determined to see what
speed they can make between this and
Cairo, and because they happened to leave
town the same evening, is no reason for
supposing that any rivalry exists between
them. It's simply an experiment to ascer-
tain how much shaking the boats will
stand with a given amount Of rosin,
spoiled hams and bacon, petroleum and
pine knots aboard, consigned to up river
houses. ,''Shiver my timbers," is the
motto of Leathers and of Cannon. One
half of the brokers have adopted as a
watchword the ancient proverb, "there's
nothing like Leather-s." The other half
relies on the reports of the Lees Cannon
to cover the losses resulting from the gen.
eral depreciation of fancy stocks during the
last thirty days. Betting has progressed
fearfuily, and the interest excited by the
dual contest against time has driven away
all thought of ordinary business. In fact,
the oldest frequenter of the curbstones can
recall no excitement to compare with that
now raging about the Lee and Natchez.
Wagers from $1,000 to $4,000, with all
kinds of odds, are frequent enough to pass
without particular comment. Cabmen,
policemen, newsboys and millionaires are
investing, and waiting for telegraphic bull
letins with mutual anxiety.
Under such circumstances it is almost
useless to say anything about stocks; still
there was some movement yesterday de-
serving chronicling and comment. The
business of the day in Slaughterhouse was
small but significant. Notwithstanding
the numerous decisions in its favor during
the last ten days, the stock has not ad-
vanced from Thursday week until yester-
day, when there was little change in its
market value, although it weakened per-
ceptibly; there was, however, no decided
fall. From day to day closing prices
were about the same. Yesterday the
stock sold at s23, got down to
s22 rs; dwindled from that until it was
freely offered at S22; when a sale
took place of 200 shares deliverable to-day
at $40 so. This transaction took the
street by surprise. Three hundred shares
more were offered at the same figure, but
were subsequently Withdrawn, and bid
at that rate was made with no takers. The
stock had no settled price at the close of
business hours, and 40 one can safely pre-.
dict what it will be worth to-day. The
new regulations about charges and per-
quisites at the Algiers abattou, and the
great increase Of business there, ought to
send the stock kiting, but they don't.
Ship Island went up again. 1t is said
that President Brott has some good news,
but if so he is very reticent about it. The
stock sold yesterday all the way from
80 cents to 81, closing at, say from 95 to
SO cents. New State warrants have fallen
decidedly.
The following list covers the transac-