New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-09-07
ON CARONDELET STREET,

Little was done upon the street yester-
day beyond the usual borrowing and lend
ing of money. But for this pleasing time
killer, the beautiful September weather
would drag very heavily with the brokers'
AS it is, they appear to comfortably en-
dure existence, and, while taking matters
easily, contrive to keep their faculties
from rusting and their tempers from sour
ing. 1t might surprise person unused
to the humors of the street to note the
easy affability, the cheerful good nature,
with which broker will exact two, or
three, or four per cent month from
temporarily needy borrower but, after
all, as it is not the broker who is to blame
for the price Of money, and as he has to
do with the lenders money alone, and
not with the lenders conscience, there is
nothing very terrible in his own share in
the business. Money is always worth
what it will bring, like everything else,
and the capitalist has the same right to
the highest market figure for his money
that the merchant has to sell his cotton,
tobacco and sugar for the best possible
price, and Tits as unfair to stigmatize money
brokers for getting high rates of interest
on the orders of their principals as it
would be to blame merchandise broker
for selling his principals commodities at
the best rate he can get. The popular
prejudice in this regard is like most popu-
lar prejudices, an unreasoning one.
Some city seven per cent certificates
fiscal agency were sold at the following
rates: $500 at S4l ; $500 and $1,000 at IS.
Lots of $1,000 and $4,000 city seven per
cent bonds (new) were disposed of on
private terms. $1,000 Metropolitan war
rants, not heretofore reported, sold Mon
day at SO. The conversion of the float
ing debt progresses steadily, to the pleas
ure of the public and the city authorities.
1t is almost universally acknowledged that
Governor Warmoth's appointees have
succeeded in efsecting r:ost satisfactory
reform in the city finances, and if their
successors in Office will continue to use
like zeal, energy and discretion in these
matters, the credit of New Orleans will be
raised to and maintained at the highest
pitch. The new city charter has worked
well, and there is no reason why it should
not continue so to do, provided only that
fit men be selected to hold office under it.
Taxpayers and city creditors are alike
interested in this thing, and our citizens
themselves will be to blame if the good
work commenced by the present city adj
ministration, be allowed to be interrupted.
The care Of the city finances should not
be abandoned by the people at party be-
hests. Mere politicians and partisanship
ought to be ignored in municipal affairs.
Ship Island has put in an appearance
again, and at an improved figure. Sixty
shares sold yesterday al thirty cents on
hundred dollars, and that price is now
offered for round amounts. The canal is
not yet open Tor naWGalon, ana there IS
plenty of room for the display of energy
on the part Of the directors, if it IS ever to
be dug.
Three hundred and fifty shares of Navi-
CATION changed hands yesterday. The
price was too good or too bad to be en-
trusted to the confidence of the public,
and we report it as sold upon "private
terms.
Ten shares Sanitary and Fertilizing
(paid up stock were sacrificed at $50 so.
One hundred shares Of Slaughternouse
were offered at SIT 37a.
Our dealers bought gold one point un-
der New York rates, and sold at half
under The Wall street kilograms gave
us the following prices: At ten, 114gg; at
half-past, 114a; at noon, 114ss, at three,
114I.