New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-11-29
ON CARONDELET STREET,


ON CARONDELET STREET.
Perhaps the indications of stringen
money market were never more conspic
uously~ manifested than yesterday, il
Carondelet street. For some time specu
lation has been almost concluded in con
sequence Of the scarcity of money, ant
the difficulty of getting anything carried
and hence, fancy Stocks or those which
have not recognized and solid basis
have been almost driven from the street
It was with reluctance, Of course, that
holders of dividend paying stocks, which
had been purchased for investment. or te
be held as collaterals, would put them or
the market for sale but even this was
better than to suffer the losses which
would be incurred in Offering the purely
speculative stocks, for which there is now
no demand. But money must be raised,
and to raise money something must be sold
for which purchasers can be found. The
effect is now seen in the offerings which are
now made in Carondelet street of first
class class securities. Stocks like Naviga-
ton, and others of that class, which are
active enough when money is easy, are
now scarcely heard of that money is
scarce; but dividend-paying stocks are
continually offered and this has occa-
stoned fall along the whole line. City
ten per cents, which, some months ago,
commanded premium, have been re-
Gently sold at 81. City seven-thirties
have fallen of, and almost all the bank
stocks are fat, only Bank Of America and
a few others of that class holding their
own. Even these are sustained only by
the near prospect of large dividends,
holders being naturally anxious to keep
possession Of them as long as possible.
Lottery stock, which from the regularity
with which it has paid handsome divi-
dends, ought now to be far above
par, has shared in the general
decline, and has fallen as low as IS.
On Saturday one hundred shares, and
yesterday one hundred shares of this
stock were purchased at the figure named
by the managers of the company, and
they are anxious to obtain some more at
the same price. There are causes which
prevent Lottery stock from commanding
as higha price as others which do not pay
near so good an interest; but those causes
are based upon unfounded prejudices and
ideas, and will probably cease to operate
when the sagacity and fidelity with which
the affairs Of the company are conducted
shall be more generally recognized and
appreciated. In the meantime the man
ayers, who have come into the market as
purchasers, reap the solid advantage of
acquiring at fifteen per cent below par a
property which pays from twenty to thirty
per cent per annum on its face value
and from twenty-three to thirty-fve per
cent on the price now paid by them.
Sugar Shed shared in the general de-
preston yesterday. 1t sold on Saturday at
81, and last night it was offered at the
Board at 30, without takers.
Slaughterhouse was little weaker yes
terday, and it was talked of at III, but we
did not hear Of transactions at that or any
other figure. Everybody is awaiting to
hear the result of the case now pending
at Washington, but opinions seem to be
more and more confused in relation to it
as the time for decision approaches.
Gold yesterday was very weak, und sold,
after the Board, $4,000 at Ill and S1O,-
900 at 11Os. We understand that, after
this month, the Assistant Treasurer, Mr..
Clinton, will publish a monthly pro-
gramme of sales of treasury gold, which
will be offered once week.
The following were the offerings and