New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-11-09
ON CARONDELET STREET.

| ON CAR0NDELET STREET.
| For many reasons, business of all kinds
was stupidity dull yesterday. One cause
may be mentioned as operating with a
few of the cheerful and jocund brokers:
being forced against their will, by the
orders from Council, to obey that Scrip
tural injunction to "touch not, taste not,
handle not" during the whole of Mon
day, they yesterday We're too ready to
listen to that other persuasion from the
same book, to "drink no longer water,
but use a little wine for thy stomach's
sake" Let it not be inferred from this
that any ''saw through glass darkly."
I Other brokers, slightly inclining to poll
ties and having penchoA for the party
that seemed yesterday to be other than
| the winning, were mourning for their
friends, who fully now understand the
phrase, "many are called, but few are
| chosen" Possibly some may have at
length determined to be no longer greedy
of filthy lucre;" but this is hardly sup
possible case on Carondelet. And yet it
is certain that some there have been suffi-
GENTLY successful to be prepared to adopt
any such holy admonition. One respecta-
BILE broker, for example, is known to have
| cleared over $500 by the rise in Bar
BARN Gas Light stock, and he did not
hold very many shares either. For, less
than month ago, SS5 was fair quota
ton for this stock, and few wanted to
| buy it at that. Yesterday it brought from
s1s5 to S195 per share, and everybody is
anxious to buy it.
But the rule here in speculation seems
to be, to speculate in high prices; that is
to buy when things are high, in the ex-
pectation of their rising still higher
There may be much gain in it, but there
is great risk. To be safe in buying
stock that has already greatly advanced,
i. must be got rid of Immediately. The
| last holder is generally dupe.
No sales of real estate are being made
now by Carondelet dealers; but SO soon
as election excitement is over, active
trade in this line may be looked for.
| There was meeting of the directors of
the Mississippi Valley Navigation Com
pany at their rooms, lis Carondelet, yes
teriay. but nothing of Importance to the
public was transacted. On the third
Monday of next month the stockholders
hold their annual meeting for the election
of directors. What is being done by this
company to carry out the plans which so
many prominent commercial men and
boards of trade in cities of the West and
South have SO strongly Endorsed during
the past three years, is not at present APP
parent to the public. But there are too
many of the better men in our midst con-
nected with this corporate body which
has its domicil ION Carondelet in the
Crescent City to permit doubt as to its
ultimate success. Its originator, Captain
DeHaven, now in the city, is a power in
| himself-a Westerner who is wide awake,
and like all other intelligent Westerners,
| he knows and declares New Orleans to be
| the natural basin or rendezvous of the
West and South, and the depot for hand
! ling and transportation of freight. His
plans have had the Endorsement of our
most prominent New Orleans commercial
men. The movements of this company
will be noted hereafter. Monday night
one hundred and four shares of its stock
sold at three dollars, while two hundred
shares yesterday brought three dollars and
twenty-five cents.
Eighty shares of Mechanics and Traders
Bank was reported sold at $40.
Of Barbarin Gas Light, six, eight and
ten shares sold at S1S5, and the ten were
resold at $50. At the evening board, ten
shares brought S195.
Little is doing in city securities. Yes
terday $4,000 of old seven per cents sold
at 73J, while at the evening board $1,000
of new do sold for IS, the holding rate at
the close being 75s.
For gold, at the close in the evening,
11OI was freely offered, but only $500
could be had at this.
At the Board last evening, there were
sales of ten shares Barbarin Gas Light
Company at $3.50, $1,000 new city seven
per cent bonds at IS, and $500 gold at
11O5. The offerings and bids during the
session were as follows: