New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-03-27
ON CAONDHLET STREET.

ON CAkoNDELEr STREET.
Gold yesterday was decidedly fat For
the first time in many days it ranged
throughout the day, in New York, below
112 and closed, apparently weak, at l1ls.
As we have already remarked, the appar-
ent rise was due to special causes, and not
to any cessation of the general influences
which have produced the depression. The
New York Herald, of the twenty.tirst in
stant, gives the following explanation of
the situation of the gold market in that
city:
The irmness in gold during the week was
due to quiet buying movement on the part
OF those who think gold cheap at such
prices, no resistance being offered for the
reason that the "bears are afraid to sell at
the figures which now prevail. The exports
having fallen off from the previous average
encouraged the "bulls," but on Sunday the
imports for the week showed diminution
over two millions as compared with the pre-
vlous week. The effect on gold remains to
be seen. Meantime the prospective failure
OF the Funding bill in the House give the
pulls temporary support in their views of
During the decline in gold the effect upon
the government list Was to considerable
extent counterbalanced by the advancing
quotations in London and the demand for
bonds on European account. Both these
latter influences were lost to the market
during the past week, fve-twenties in Lon.
don being weaker, and declining on .Satur-
day to as low as 800. The effect was q slow
decline OF fraction each day, untifon Sat-
urday the lowest prices were made in the
second downward turn which governments
have taken since their original break"
when gold went to ll04 and the funding
bill passed the Senate.
We notice that Jackson Railroad stock
is gradually recovering from the blow in
fcted on it by the suspicion that the
schemes 10 obtain possession of the city
interest, by the parties who have under
taken the project, might possibly succeed.
Since the new city government has been
appointment the raid on the outgoing
Council will necessarily fail, but we pre-
sumo that the effort will be renewed be-
fore the Administrators. If we are not
mistaken in the character of the gentle
men who have been appointed to these
responsible positions, they will not permit
themselves to sacrifice the interests of the
public for the benefit of any set of railway
spectators. If reasonable price were
offered for the stock, it might be well
for the city to sell its interest, but
it is not the intention to offer a reasonable |
price. The design is to get possession of |
the stock for sum absurdly low in COM
parison with its original cost. The pub
lie are not prepared to look with ac-
quiescence upon any such scheme, while |
they are saddled with debt of two
contracted for the purchase of
this very stock, and with large annual
interest on the bonds issued In favor of
he company.
Ship Island stock still has tendency to
Use. Large amounts were sold at l75(@
1870, q few days ago, without breaking the
n arket, and, as soon as these sales were
over, the stock commenced to rise again,
md now promises to fulfill the hopes of
many who have been long and YEARLY
vaiting for two dollar market. The
eturn of the President from his success
III Northern trip, will, doubtless lend
resh animation to the market.
The past few days have been marked by
considerable movement in Slaughter
louise, at least 1900 shares having
hanged hands at 22@223.
For the last week we have heard nothing
l the street of Pneumatic and Petroleum.
hicb, not long since, was rising trium-
hantly to the top of the market, has
most completely subsided. We under
and that new company has been formed,
it'll ninety-nine years lease, to take =
p the work Of exploitation at the expira-
on of the lease held by the existing COM I
any.
Lottery stock has risen greatly within {
e last week. Two days ago it sold as :
Oh as 27aa, and yesterday it was held at j,
The following were the transactions at I
4