New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-07-03
ON CARONDELET STREET.

The market yesterday was very much
unsettled. An unusual amount of bust
ness was done, particularly in Ship Island
Canal. but prices fuctuated all day. and at
the same moment transactions were made
on opposite sides of the street at widely
different figures. A session of the board
was never more needed. The brokers do
not often get SO completely at sea, but a
regulator, such as would have been
afforded by call of the leading stocks,
would have gone far toward definitely fix
ing prices. Quite number of sales were
undoubtedly for persons WHO had urgent
need of money, and were bound to sell for
what their stocks would bring, and they
and the stocks suffered together in conse-
quence. The street was lively, notwith-
standing the excessive heat, and the ex-
element over the steamboat race did not
interfere with ordinary operations so much
as upon Thursday and Friday. By Mon
day that topic will be thing of the past,
except as to settlements; and, although
the squaring of betting accounts may COM
pei some parties to force stocks on the
market, it is not likely that the street will
be much bothered hereafter by the
Natchez and Lee. The race episode has
developed mania, but it can not last
long, aud the unfortunates will not be
much mourned over. Those who take
risks in such adventures 60 in with their
eyes open, and have to stand to their
trades. A good many entries will have to
be made on some books with experience
as the "mdse." purchased.
Ship Island is the leading fancy" just
now. The change in the direction and
management of the company has awakened
interest in the stock. 1t is reported that
the new men are in earnest to push for
ward actual work under the really valuable
franchises under which the corporation is
organized; and that they have the capital
behind them with which to practically
test the scheme originated by Mr.. Brott.
Money has been the great want of the
company heretofore. With enough of it,
there can be no doubt that the canal can
be dug, and large number of our best
civil engineers say that it can be SO dug as
to carry out the great objects of the
founder of the enterprise. The new d.
rection can not bring more courage and
determination to bear upon their task
than have been displayed by ex-President
Brott, but if they bring energy equal to
his, and the ''sinews of war" besides,
the public may expect steady progress
and ultimate success as the result of their
Efforts. In losing Mr.. Brott as President,
the stockholders lose the services of an
honest man Of business, and a most |
amiable gentleman.
It is impossible to say what Ship Island |
was really worth yesterday. 1t is equally |
out of the question to assert what was the |
value Of Slaughterhouse. Ship Island sold |
at from 80 cents to 81 10. There were re.
ported sales during the day of 1850 !
shares, several transactions being resales.
The last sale was made at 80 cents, which |
was the price obtained early in the day
Late Friday evening 97a cents and 81
we're paid for round lots. But three sales
Of Slaughterhouse were reported, although
there were other transactions in the stock,
The figures Of which were withheld. The
highest price realized was S22 SO.
Some sales of Germania National Bank
stock showed the high financial standing
If that we'll managed corporation.
The following list exhibits transactions
'eported yesterday:
Is Crescent City Slauehterhouse Co. at. s21 so
lrosc ant itrS In, h. rhc1ro a. -, L