New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-10-27
ON CARONDELET STREET.

business circles yest ". A marked de-
mand was noted To- several kinds of
stocks, particularly in new city seven per
cents, which could not be supplied.
Money, though still tight enough, in all
conscience, as it has been for two months
past, begins to ease up as the receipts OF
sugar and molasses commence arriving.
The receipt of the cane product relieves
the market more than receipts from cotton,
becauce such remain in the city, while
cotton payments go at once back to the
interior. Would that the suguar crop
promised to- be larger than it does; but
the drowth has greatly shortened it, and
where one hundred and twenty thousand
hogsheads were expected, not over one
hundred thousand can be counted upon,
against eighty-seven thousand last season.
The price opens about the same as last
season, but it should, and doubtless Will
be higher; for with the beet-sucar
crops Of Germany and France reduced
one-half by the war; and the reduction
of the cane crop in Cuba by the rebellion
and other causes, the Louisiana sugar
planter has everything to hope for better
prices.
Yes, money is still tight, and most men
have to lean largely on their bankers,
these days. The difference between the
sums drawn out and the sums paid in
during these days, to some banks, is in
favor Of the drawer and not of the banker.
Some of these bankers, indeed, it is said,
have had to illustrate the theory OF bank
ing to some of their customers as did
Mr.. Leyre one day, whose account was
almost always over-drawn. The banker,
finding him at the counter one day, said
to him: ''lIr -, you and must under
stand one another something better than
We seem to do. I am afraid you don't
know what banking is; give me leave
to tell you. It's my business to
take care of your money; but, I find, you
are always taking care OF mine. Now,
that is not banking, Mr.. -; it must
be the other way. I'm the banker, not
you; you understand me now, Mr.. -;
I'm sure you do " And, consequently,
banking being a simple operation, &C
cording to this definition, and easily sus-
ceptible of good and profitable manage
ment, the stock of our banks is more and
,,,oro c,,,obt ,ftar oo1 &c o-DraciafiDp II,
value daily. The stock of the Teutonia
National Bank was sought after yesterday,
and none found. A small amount of the
stock of the New Orleans Bank was sold
at $40 So and ten shares do at $40.
Nineteen shares Citizens brought S143.
There was greater demand for city new
seven per cents than supply. The
following sales were noted: $4,000 in
small lots at 49,: $500 at same; $500 at
1873; two lots of 5000 each, and 800,
$4,000, $1,000, S1l00 and $1,000 at 49,,
while $1,000 was reported at 13,, though
it was offered at the evening board at 49,.
Of old seven per cents, $1,000 was repor
ted at y; $3.50 of city seven-thirtie5 sold
at ~, and $1,000 OF ten per cents at 80.
Two sales of fiscal agency certificates We're
made, Of July 16, $500 at o7ss, and S1l0o
at 81.
4 sale OF 100 shares Slaughterhouse
was made at ST %.
In new State warrants two sales were
reported, $500 at 724I, and $500 at 7255.
A share of the Pneumatic Propelling
Company's old stock brought $40, while
two shares of the Barbarin Gas Light
Company sold at the high figure Of s11O,
an advance of twenty per cent in two
weeks. There are but $500 shares of this
stock, and of course it can be kept il few
hands, and easily manipulated 1t is GER
tainly rising sort of gas.
No sales were made at last evenings
Board of Brokers. The following is a
list of the offerings and bids: