New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-11-12
on CAR0NDELET STREET.

rich, but also wish that desire to be soon
accomplished, have only to step on to
| Carondelet street and invest in a certain
class of stocks, and their desire is accom-
plished. Reference has already been
made to the great advance within the past
month of Barbarin Gas Light stock
from $50 to S215 per share on Thursday
by which hundreds of thousands Of dol
lars were made by the fortunate holders.
Yesterday the same stock advanced to
s235, S24O, and finally to $3.50 per share.
1t has always been found safe to speculate
in gas companies, and indeed in the stock
of many kinds of companies temporarily
or unnaturally depressed, up to the level
of par; that is, give price for it from
lower up to the par price. Many in
stances might be given when it was proved
safe and profitable to pay very much
| above par, as in this case, for gas COM
panies stock. Some such stock has adj
vanced to $500 to $500 per share. But
the same rule holds with the
stock of other kinds, as of rail-
roads, canals, banks, navigation COM
panies, etc. 1t may be observed that the
stock of joint stock company, of bank
for instance, and more particularly of a
railroad or navigation company, generally
falls much below par Immediately after
the formation of the company, and before
it has had time properly to come into
play. Instances of stock so depressed are
to be found in this Barbarin gas for the past
two years, and in the Mississippi Valley
Navigation Company, both of which
are now moving up. The great advance
in the stock of the latter company was the
greatest feature on Carondelet street yes
terday. A day or two ago its stock was
purchased for dollar or two per share
yesterday it advanced to 81 IS, 81 so,
and at the close could not be had at IS per
share. BY tonight it is not improbable
it may again double in value. Of the
cause or causes Of the advance in Missis-
sippi Valley Navigation this writer is not
informed, and he can only surmise that it
is because not only that the enterprise ofthe
company is feasible and legitimat cone,
in which some of the best minds and
true commercial men of this city and
valley are interested as stockholders and
hackers, but because but few months
more will show the completion of the first
steamer under contract, constructing ac-
cording to the plans of that genius in
water-craft construction, Captain David
De Haven, the originator of the company,
who has for so many years made the study
of the navigation Of our rivers spe-
cialty. If, as seems apparent to some Of
our most knowing men who own much of
the stock, this company shall prove sue
cess, certainly its stock may be wisely
and advantageously purchased at the
present unnaturally depressed rate. This
is true, if the principle heretofore given
be true, that to do the best in buying
stock, the price must touch rise, as this
has To do the best in selling it must
touch fall. Therefore, doing the best
in either case is very close on or near to
doing ILL., And this is a maxim which
holds not only in trade, but through all
human affairs, the greatest good always
bordering upon evil, and the virtues in
extreme running into and taking the
names of the vices.
The sales of stock yesterday were as
follows 9 shares Barbarin Gas Light
Company at s235 f; 3, and II shares do
at s24O: share and 90 shares do at
S245, and shares and shares do at
$3.50.
In Mississippi Valley Navigation, 200
shares sold at 81; 200, and 2 lots of so
shares each do at 81 IS; and 100 and 200
shares do at 81 so.
Of bank stock, 10 shares Hibernia
brought SIT so; SO shares Canal Bank at
$40, and 100 shares Crescent City Bank
sold on private terms.
Of State warrants, S17OO sold at TAI.
City new per cents were bought at 74a
for $500, and IS for 5000; while $4,000 OF
old do sold at 49,. $500 of fiscal agen-
cies sold at 81 dated July 16).
Twenty shares jackson Railroad sold at
Sc %.
At the Board of Brokers last evening,
so shares Crescent City Slaughterhouse
sold at SIT so; 10 Calcasieu Sulphur
Mine (preferred) at s24; 2 Barbarin Gas
Light Company at $3.50; $4,000 city seven
thirty wharf certificates at S2I, and $4,000
gold at liz. The offerings and bids
were as follows:
ASKED. BID.
Slaughterhouse ,........... II 50 IL
Calcasieu sulphur Mining Com
pany (preferredl. ............ "a 90 y oo
Barbarn Gas Light Company. go 90 241 50
Louisiana Lottery C0mpany..... 100 90 9o 90
Sugar Shed COmpany......... " 50 -
New Orleans Wreeking Company los 90
jackson Railroad. ................ 10 70
CarrOtOn Railroad. ............ III so ITO 50
New Orleans City Railroad. ...... - 167 90
Crescent City Railroad. - 68 10
St. Charles Street Railroad = 10 90
Orleans Railroad .....,, II 90 70 90
Cnrn,.Dia National Rank l4O 2J