New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-08-14
ON OARONDELET STREET.


Ship Island does not revive under the
influence of the action of the stockhold-
ers' meeting. 1t has sunk so far now,
that were it not for its possible chances in
the future, it would be waste of time to
quote its figure. The city fathers have
frightened holders out Of all propriety
and reason. The Supreme Courts alter
native mandamus, requiring the Eighth
District Court to show cause in November
why an appeal should not be allowed
from the decision sustaining the Jefferson
City contract, has scared the crowd, and
the transmogrifcation Of stock, agreed
on by the company the other day, don't
appear to go down with holders. AS
consequence, We have to quote sale Of
two hundred shares of Ship Island Satur-
day at thirty cents, and subsequent offer
to sell with no takers, at rs. If the COM
pany has resources or credit, it ought to
begin work right away, out of pity to par
ties who have bought the stock as a per-
manent investment, and who have held it
through the decadence Of its fortunes,
hoping against hope for better times.
Just now the most wild, thing the man
ayers can do is to take the shares at 81 so
upon the subscription list for the new
stock. They can buy it at about sixth
of that price if they have the money to put
out; but if they have enough of it now to
control the concern, so that the fate of
the balance has no interest to them, except
SO far as it effects the standing of the cor
poration, their. wisest course is to COM
mence by hook or by crook, to dig their
canal. There are acres upon
acres of mud within the limits of the city
that they ought to be reclaiming-square
after square that, at this season, could be
sucked up by decent draining machine,
and after straining and solidifying, used
for their much talked of protection levee.
If the company does nothing more than
perform its work from Carrollton to Bayou
st. John, it will be of enormous benefit to
New Orleans, but the people desire to see
that task begun with will. If few
dredging machines were at work there
would be no trouble about the stock, and,
we opine, no trouble with the city author
tiles. 1t won't do to give It up SO, Mr..
Brown p
What Slaughterhouse is worth, no man
can swear On one side of the street it
was offered at SIG, against bids
of SIS U.s. On the opposite banquette it
was offered at SIT, and was held at SIT SO.
No sales We're made, and opinions as to
the value Of the shares were refreshingly
varied. Perhaps ST was about the fair
thing, but any definite idea on the sub
ject is absolutely impossible. There will
probably be something like crystalliza-
ton Of these discordant views by Mon
day. and We venture to predict fall.
The market is as weak as possible, and if
certain shares we wot of come upon the
street, the bottom will fall out of Slaugh-
terhouse for day or two. If these shares
are carried on, we can see nothing inlme-
diately ahead to affect the price.
Lottery stock is held at SS5, and hold
ers appear to be confident that it will go
to par before the declaration of the next
semi annual dividend.
A small lot Of Carrollton Railroad sold
yesterday at slO5!. $4,000 old State war-
rants brought 80 cents, and 5000 new
were sold at 70 cents.
The gold business of Saturday was light.
Dealers bought at three-fourths under the
New York rates, and sold at half under.
Wall street prices were-at ten o'clock,
liz; at half-past ten, 117s; at noon, 117E,
and at three 117a.