New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-05-18
ON CARONDELET STREET.

Very little of general interest happened
on the street yesterday. Slaughterhous'
, stock continues to be the main subject fol
, discussion, but operations are by no meant
heavy. The fortune of the bulls in thi
stock continues in the ascendant, and they
: deserve it for the courage aud adroitness
with which they encountered adversely or
Monday morning. They have, however
to all appearances, toerably tough piece
of work to accomplish to get the shares up
to high water market very soon. Yester.
day Slaughterhouse advanced slightly, and
kept the ground gained with good deal
offrmness until the meeting of the board,
when, without any transaction to afftc!
prices, it became evident that it was
slightly weaker. We heard Of sales at
S24, and quote that figure as the price for
Tuesday.
Ship Island is gently descending. At
the board last evening the following lots
of this stock were SOLE: 100 and 800 at
81 So; 200 at 81 37a and 1000 at 81 so,
sellers option, fat, one week. People will
soon begin to ask Mr.. Brott for the first
section of his canal, long since put up in
New York. Its appearance has been
anxiously awaited.
Among other sales indicative of the con-
dtion of the market, we can report the fol-
lowing: Is shares Carrollton Railroad at
81 l6; 800 New Orleans, jackson and
Great Northern Railroad at SIS so; 25
levee at $40 so, and IL petroleum at
| $67 so.
| If the new internal revenue bill now
| before Congress becomes law. financial
operators, as we'll as nearly all other
classes of dealers, will have abundant
reason to rejoice. The repeal of the tax
on sales, one of the most vexatious sys-
TENS of raising revenues ever invented
and a sad burden upon trade, will be re-
ceived by the whole country with satsfac-
ton. Among the many bad features of
this part of the present law, not the least
Objectionable is the constant surveillance
which the revenue officers are compelled
to have over the daily transactions of bust
ness men. and the sooner we are relieved
therefrom the better. The new bill, as
far as we are informed to date, retains too
much that is Objectionable in policy, but
it will be great gain to our business
men to have the tax on sales removed.
The whole system needs reformation, and
an adjustment making it conform more
nearly to the recognized rules of political |
economy.
The Chicago Tribune's Washington cor
respondent has favored that paper with a
long letter upon the Mississippi Valley
Levee scheme now being urged in Wash
ington. The letter is unfriendly and
hardly just, but the following extract will
be read with interest:
TAX GATHERING MONOPOLY.
This company is chartered for twenty-one
years, and given sole charge of all levees in
Louisiana pertaining to the> Mississippi and
its tributaries. The levees are to be located
by mixed commission of engineers, one
appointed by the United States. one by the
Governor of Louisiana, and one - the COM
pany. ANY municipal corporation or police
Jury can coerce the company TO come to the
rescue at any place Of creva8se. An annual
report must be made to the State Governor.
Whenever the line of leveS runs through
portion of Cultivable land. leaving it on the |
outside, the owner must dyke such excepted
piece at his own cost.
The company is liable in damages to any, l
body whose land shall be overlooked
through their negligence, and any land |
aiken from the inside Of the leFee shall be |
toned for by the company through arbI.
rators. The company must keep one MIL !
ion dollars in bonds of the United States or
louisiana, on deposit with the State au-
horities, and apparently equitable means
re provided of making the company keep
aith with the State. .
All alIuvial lands in Louisiana, protected
" the company's levee, except such as are
ituated in Incorporated towns, and all the q
otton, sugar, rice, and tobacco produce 10 a
UGH lands shall pay the following tolls, G
Oliectable by the tax gatherer of the State. n
First. Five cents year on every acre. =
Second. Half a cent pound on all lint
otton.
Third. A quarter of a cent a pound on
lgar.
Fourth. One cent gallon on molasses.
Fifth. Halfa cent pound on tobacco. Y
Sixth. An eighth Of cent a pound On
ce.
All tolls must be paid before the first day
March in each year. State and school 81
.nds are exempted from taxation by the c
)mpany. No staples raised in taxable G.
nds can be shipped out Of their parish IN
the tolls have been paid. o.
Thorough civil rights and equality are en- W
ined among the races, under this charter, | p
hen Mississippi, Arkansas. Tennessee, and
issouri, or either of them, shall join with
ouisiana in chartering this company. they
all be represented in its Board Of Directors
follows: Mississippi, seven: Arkansas, =,
III; Tennessee two, and Missouri, two. ID
THE CoRPoIAToEs. az
Here are some names OF people promi-
INT in securing the charter from the State
Louisiana
John G. Gaines, president of the Citizens
inks of New Orleans which has CAPT
of So 900 900. mr.
J. II. Oglesby. president of the Louis -
ma National Bank, which has capital of
900 900.
Samuel Smith, private banker of New
leans, whoae alleged capital is s., O00, D,
0. -
Ex- Governor P. 0. Hebert, Chief Engi
er of Ouisiana. who was class mate of an
neral Tecumseh Sherman, and gradua-
d first in the class.
Other corporators are s. NJ. Westmore,
A. Brisson, and D. Banks, formerly staff 1
icer with General Joe Johnston, and ed ,
" Of various Southern newspapers; Jo- ~.
nrall, FL. s. Yerger, Milo Smith, and G. sP
johnson; all more or less prominently
own in the lower Mississippi region. ,
The following table shows how little III,
3 Brokers Board did last evening: fin