New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-10-09
ON CARONDELET STREET.

Carondelet street for long while. Visit
full eyes greeted every well dressed
stranger who made his appearance upon
Gold Room" corner, but there was no.
where chance offered for good opera
ton in anything Money stands as it has
for good while. Some parties can get
what they want at eight per cent per an
mum; others are forced to pay i to FIVE
per cent month for brief accommo-
dations
The market is not only sick, but it is
horribly uncertain. No one can calculate
upon its variations an hour ahead The
correct figure for given stock may be a
widely different thing at one hour from
what it is at the next, and the brokers
customers find continual cause for crit
| cism ON the examination OF the REPUBLI-
CANS daily statements.
Their brokers sell for them at all the
market will yield at twelve o'clock, and
by two O'Clock, prices may be altered for
| the better, while at three o'clock. rates
will have declined below those prevailing
at noon. The newspaper reports don't
| state the variations per hour and the con-
sequence is that the specializing capitalist
believes that he should have had the
highest figure of the day for his securi-
ties, and pitches into his broker for not get
ting it, when the broker at the time of the
| sale got all that the securities were worth
on the market. This thing of course
works itself right after while, but al
interim the newspaper men get al sorts Of
genteel objurgations from the interested
parties. With steadier market, all par
ties would have chance to be better sat
istied, but as things now stand, the brokers
and reporters have splendid chance to
be gloliously abused.
City securities keep up to TIE late QUO
tations very creditably, considering the
weak condition of the market Friday
$1,000 seven-thirties sold for 49,. Yester-
day $1,000 and $4,000 seven per cent old
city bonds went at ". That price was
asked at the beard but no one responded
Five hundred dollars new seven per cents
brought "A IA very good price, and
above the market as indicated by the talk
at the Brokers Board, where 49, was the
asking price, against 70 bid. Five hun
dred dollars seven per cent fiscal agency
certificates. miscellaneous dates, brought
ST. and $780, dated sixteenth July, sold
at $50. One thousand dollars Metropoli-
tan warrants sold at IS; $500 at 9S,;
$1,000 at 9s!; 500 at 9s5, ard $1,000 at
9s$. The city is now cashing these war
rants at par-at least, those of last month,
where they are in the hands Of the origi-
nal recipients. This course on the
part of the municipal authorities
will keep new Metropolitans out
Of the hands Of the brokers, FOR the
simple reason that they are worth more
in the hands of the policemen than they
are anywhere else. The city is not bound
to cash them, but must take them for
taxes, and it is six of one and half dozen
of the other whether they pay cash for
the warrants or receive them as cash from
taxpayers, as long as the city treasury re-
mains full but by taking the course now
decided and acted on, the police are re-
lieved from the necessity Of shaving their
warrants, and so get full pay for their
services. The brokers who have bought
the old warrants have bought them upon
speculation. They must bide their time.
Meanwhile, the policemen can get their
pay to the last cent without standing a
heavy discount, and they may thank some
of the city fathers for looking sharply
after their interests, as soon as the city
treasury could stand the change in the
n,O1us Operdndi.
Twenty-Five thousand dollars new State
warrants sold at 72Jc; $1,000 of the
same, small warrants, brought 73}c, and
another small amount of small warrants
changed hands at the figure last named.
Slaughterhouse is undoubtedly looking
up. Two lots of one hundred shares |
each sold at SIT so; seven and one hun
dred and nine shares went at SIT %. |
The advent of few men will send this |
stock kiting but just now it advances
without their powerful assistance.
Three dollars per share was yesterday |
refused for Valley Levee. Thirty shares
Bank stock sold for S6G so.
Fifty shares Bank of New Orleans
changed hands at the low price of $50 so,
and thirty more at $37. Two shares of
Mexican Gulf Canal were disposed of at
he advanced rate of 50 90 One hundred
shares Ship Island sold ut tie notifying
ate of twenty cents per the hundred
dollars.
The following is the list. of offerings
md bids at the Brokers Board last
evening:
tew Orleans Gas Company. $l53 80
.evee Steam Cotton Press .... $50
................ II 80 II %
ship island Canal .... 20 70
lew Orleans CITY Railroad . l67 50
Sank of New Orleans. ........... Sc 50 IS IS
Mechanics aud Traders Bank. 80 50
mon bann ....:-............ ~ 70 |