New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-03-05

have finally been obliged to surrender,
and we begin to hear murmurs of discon-
tent in consequence. 1t is lucky, how
ever, that they were able to maintain them
selves during the trying period of the tight
money market, otherwise very serious con-
sequences might have ensued. Since there
is no immediate prospect of any large in
crease in gold exports, there is no reason
to look for a speedy reaction; but,
on the contrary, the fall may con-
tinue until the premium on gold
is approximately neutralized. When
this takes place we shall have nominally
reached specie basis but whether or
not we can maintain ourselves in that
position depends on causes which can not,
at present, be estimated. It will be re-
membered that few days ago there was
slight reaction in gold, attributable to
speculative movements. The New York
World, OF the twenty-sixth ultimo, gives
the following interesting account of the
days proceedings in the gold room.
A truce seemed to have been declared be-
tween the two great factions OF Wall street
yesterday, and there was lull after the
great battle of Thursday, the operators
evidently taking time to study the situation
preparatory to another and more exciting
contest. Sharp skirmishes were, however,
frequent, and, when the Gold Room opened
in the morning, the prospects of a renewal
of the confess of the day before were threat
ening. Every foot Of available standing
room was occupied, and the bids and offers
were flung at each other with incOnceivable
rapidity, producing roar and rush of sound
that could be heard for blocks around. An
element that was almost entirely wanting in
the room on Thursday was at once OBJ
served, every effort to force the price below
ll6 meeting with stubborn resistance and
purchases were freely made of enormous
amounts, as the premium slowly advanced.
heavy short interest operated strongly
against those inclined to lower rates, while
many, satisfied with their profits on sales 1T
higher prices bought in and realized.
Opening at 1l6s, the premium slowly adj
vanced, although contested stoutly, until it
reached 1l74, which proved to be the highest
price of the day. At this point the operators
for rise were timid about investing largely,
evidently bearing in mind their sad ex-
perence on Thursday, and dreading another
sudden turn IN JQe market.
Carondelet street yesterday was char
acterized by notable shakiness in fancy
stocks of almost all varieties. Ship D.
land, especially, was weak and, sickly.
The day before it was worth 40, and
holders were joyous over presumed fore
knowledge of the passage of the Ship Is
Lon f,,f ha RJ,ft hnc Ao{k
ing anticipations were doomed to disap-
pointment. The bill met with unexpect-
ed opposition, and. instead of passing, it
was laid on the table subject to call. This
morning the purchasers for rise looked
blue. They kept up their courage for
time, however, and maintained that it
was only question of few days. The
bill would certainly pass as soon as the
Legislature re-assembles. But the stock
fell off in spite of them, and toward eve
ming could not find purchasers at $50. In
the board it was offered as low as 1921 and
no bid.
Something strange and mysterious
seems to be the matter with Slaughter
house. In spite of the expectation of
speedy decision by the Supreme Court
in favor of the company, it gets weaker,
instead Of stronger. presumed fore
knowledge" doesn't seem to help it bit.
Pneumatic shows slight signs of i'm
provement. Is the company on the eve
of another of those brilliant experiments,
Dy which the midnight has been startled
two or three times already? Are We in
deed to behold the aerial car flying down
Tchoupitoulas street at the rate of several