New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-06-05
ON CARONDELET STREET,

/ ON CARONDELET STREET.
There is popular belief that firing
cannon over the water, within which
drowned man lies, will bring his corpus t.
the surface. The shot fred Friday even
ing, by Mr.. Counsellor Horror, brough
up the sinking Slaughterhouse Company
and though the stock is not as bright al
before the immersion, it looks as we'll a!
could be expected, and its friends say tina
sicker children have been reared to profit
The coup detot OF the Slaughterhouse
Company of Friday afternoon has sue
ceeded to admiration. Sudden and bold
it was just what the crisis demanded al
far as the street was concerned. In thi;
column we no not pretend to discuss the
legal weight of the various measures taker
by the combatants in the great contest
| between the butchers and the Slaughter
house Company. The effect of the move
ments of the parties concerned upon the
money value of the stock, is all we have tc
do with, AID, in all conscience, it is enough
during the heated term to report results
without probing too deeply for ultimate
causes. If the parties who hold large
amounts of Slaughterhouse stocks had
desired to save them from the sudden
depreciation forced by the recent ruling
of the United States Circuit Court, no
more ingenious method could have been
devised than the grand coup to which we
have just referred. The only thing SUR
prising about the matter is, that the
Slaughterhouse people didn't take
advantage Of their information on
Friday, and speculate on the
coming rise; for that rise was to come
no one could doubt after understanding
the terms of the new injunction. Perhaps
the parties possessed Of the requisite in
formation were too tender. hearted to in
veigle their friends by betting on a GER
tainty, and perhaps they were not in posi-
ton, financially, to avail themselves of
their advantages. More stock added to
that in their hands might have been "a
sum Of more to that which was too much"
However, a good deal was done in
Slaughterhouse, and we can report the
following as Yesterdays transactions:
Early in the day, 100 shares at
s25 IS, and 100 at $40; later,
three lots of 100 shares were sold at
s27; two lots of same amount each
at s27 SO; 200 at s27 Is, and two lots, of
same amount each, at s2S; 400 shares were
sold Friday mot reported) at s25; buyers
option four days, fat. Toward after
noon the price weakened decidedly, and
at night the stock was not very strong at
S27. How the stock will stand Monday
it is impossible to say under the present
aspect Of affairs. 1t offers as good an op-
portuuity for "going it blind as is often
presented.
In another column will be found card
from Mr.. Brott, president of the Ship
Island Canal Company, which will well
bear perusal. 1t sets forth in clear and
succint manner the objects Of the COM
pany, and deserves careful attention. Mr..
Brott does not set forth any statement of
the means at his disposal to carry out the
objects fer which his company has been
created, but there are very satisfactory
rumors adoat on that head. Just now the
stock is horribly down; 400 shares were
sold yesterday at 81, two lots of 500 and
one Of 1900 at ninety cents. The stock
closed at ninety cents bid to 81 asked.
The holders of Valley Levee talk quite
confidently about their prospects. Early
yesterday, so shares were taken at 50 so,
but the impression late in the day seemed
to be that the stock was worth more than
the price We have quoted.
Two hundred shares of Loan and Fund
were offered yesterday at $34. So admir-
ably has this institution been managed,
and the standing of its managers is SO high
for business capacity and integrity, that
with the extensive franchises of the asso-
citation, it is difficult to understand why |
the stock should not go nearer to par
$500. We are satisfied that the offer |
quoted was bona fae. .
The weeks work has been far from sat-
isfactory. A few parties have made very
handsomely from the fluctuations in |
Slaughterhouse, but outside of gold and
exchange, there has been little of legiti-
mate and profitable business upon the
street. From day to day the brokers have
given themselves up to frantic efforts to
understand the various aspects of the
Slaughterhouse cases, to the exclusion of
almost everything else. If the street sue
ceeds in mastering the numerous legal
problems suggested by these suits. it will
do more than great many of our lawyers
are able to accomplish. One thing is Ger
tain, a big pile of damages and costs is
for somebody, and it may
be couple CT years before the unfortu-
hate victim is judicially designated. |