New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-06-01
ON CARONDELET STREET,


The news by telegraph of the failure Of
the engineers employed to discover a
practicable route for the Darien Ship
Canal is disheartening. The narrow strip
of land connecting the two American con-
tnents, and dividing the waters of the
Gulf and caribbean Sea from those Ct the
Pacific, have been often explored with a
view to securing a means of communica-
ton by water between the two great
oceans of the world, from the time OF the
early Spanish conquerors down to the
present day. The United States govern
ment has interested itself in the enterprise
from time to time and SO have the Eng
lish and French. Elaborate reports have
been presented to our Congress upon the
subject, ard they have excited apparently
well founded hopes of the ultimate SUCCESS
of the scheme. To New Orleans the ad-
vantages resulting from this projected
improvement in the means of commercial
intercourse would be incalculable. In
fact, next to the river and the proposed
Southern Pacific Railway, the Darien
canal would prove the greatest possible
gift to the commerce of New Orleans; but
just now the prospect of success seems
decidedly gloomy.
In another column will be found the
full text of the levee bill introduced into
Congress on the twentieth ultimo by Sem
ator Kellogg. We have already COM
mented upon the main points of this
measure. How much the success Of the
plan will depend upon the action Of our
State Executive will be readily seen by a
reference to the bill published.
Notwithstanding the doubts entertained
relative to the intentions of Governor
Warmoth, the stock sustains its position
before the public with good deal of firm
ness. Forty shares yesterday were
bought at $40, and were resold at SO 25.
We heard of no other sales. A pretty
heavy bet on the prospect of the Gov
ernor signing the bill has been won, we
understand. The bet was made some
thirty days ago, and the time has lapsed
within which it was wager the bill would
be signed.
We can report no change in Slaughter
house. Yesterday, the matter Of the
amount of bond given to carry two of the
Siaughterhouse cases to the Supreme
Court of the United States, came under
the notice of Mr. Justice Bradley. of the
Supreme bench, sitting in the United
States Circuit Court. The defendants in
error-the Slaughterhouse Company-are
attempting to get the bonds increased.
The question will be discussed to morrow
morning in chambers, and the result will,
beyond peradventure, have an instanta-
neous and noticeable effect on the value Of
the stock. The following sales were re-
ported 10 US yesterday: Three lots of 100
shares each, aud one Of so, at $50; 100 at
$50 %, and 900 at $50 so.
In other stocks we can report 600 shares
OF snip lSldUu dt D1 Az, ~ oudIcS OItS-
cent City Railroad at S73 IS; 10 shares
Union Bank at s;333 IS, and 200 shares New
Orleans, jackson and Great Northern
Railroad at SIS Is. (The last mentioned
sale is an improvement on late prices).
A meeting of the Germania Insurance
Company is called for the seventh instant.
We learn that project to modify the
charter so as 10 change the company from
| a stock to mutual basis, will be laid be-
! fore the stockholders, and with good
chance Of adoption. 1t is. proposed to
issue scrip to be exchanged far the stock,
500 in scrip for 500 of the stock (face
value, SIS, having been paid in), and the
friends of the measure predict that the
new scrip, will be at par as soon as issued.
The managers of this institution will not
act hastily, but if they undertake the
movement suggested, the public will an
ticipate immediate favorable results.
The Brokers Board will meet again to-
night, probably for the last time for the
season. The meeting last evening was