New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-08-29
ON CARONDELET STREET,

D
There has not been rise or leap int
: and beyond fifteen which it was predicte
| Levee stock would take. As usual, stoc
! is always higher in anticipation of fav
orable event than when there is no longe
: doubt about it. Things SO subject to in
hation. and consequently the play of
great deal Of imagination, improve unde
a few doubts. So, when the news of tn
recent contract was yet whisper on tn,
street, up rose the stock to SIS; wher
announced by telegraph, down it went tc
$40. Between the last figure and s12 il
has been considerably troubled to remain
firm; likewise when the directors meet
and arrangements are to be made for
actual operations, when all the proceed
ings are known. Yesterday the stock
could not get over 50 rs, though sales
are reported at SO so and even SO, the
last being the constructive par value OF
the paper. 1t remains to be seen what
developments the stock will undergo
when all proceedings will be promulgated
in due form.
The demand for accommodations on the
banks show slight increase, and this
feeling being common at this season of
the year, when mercantile men desire set
Elements for the usual fall supplies of
| goods, the demand has grown to a good
size from small beginnings. Though not
sufficient in strength to produce change
in the rates, yet it BODIES more prosperous
| times when he'heaviness Of summer shall
have entirely melted away.
The New York rate for gold is from to
in advance of the quotations here, which
are 1112 and 112, sale of SO, 900 in all
being made at 1114, and various amounts
selling at 112. The gold market as yet
shows no traces of "cornerizing" those
who burned their fingers last year having
served as warning to others. True, such
a movement was anticipated here, but as
the time when, by the calculations ofthese
prophets, such speculation should occur
has passed it may be announced as ''dead.
The agents of Messrs. Scott and Me-
Comb, who "bought in to the Louisiana
Levee Company, arrived on Saturday, and
have been closeted with the committee
who represent the stockholders of the
company, SO that plan for levee work
manship may be agreed upon.
There are but twenty thousand bales of
cotton to be sold, and then the old crop
will have gone.
Sugar receipts are dropping off to mere
driblets, and before long the last hogs
head of the old crop will be "filed."
Continued reports of worms in the
South tend to advance prices of cotton in
New York, though only by way of the
fractions. On Wednesday last the market
advanced &c, which it held.
Bonds under the "new loan" are
quoted in London at q premium of s per
cent. 1t is anticipated at least 500, 900, 900
of the fve-twenties will be redeemed by
the Secretary of the Treasury before the
first of December.
A sudden and marked advance has
taken place in Crescent City Waterworks
stock. This, from what we understand,
has been based upon the promulga-
ton of the law passed by the last Leg
islature in the Louisiana Register. 1t was
stated that the PRONUNCIATION was due to
the advice of the Attorney General follow
ing decision of the court affirming the
constitutionality of the Bayou Bartholo-
new bill-the Waterworks law being
passed in the same manner. But few |
days ago the stock was worth but twenty |
five cents. We heard of sales yesterday |
at 60 cents and from thence as high as 81 a |
share. This sudden change in the value |
of the stock was all the talk for several |
hours, and the change, as far as we under
stand it, is attributable only to the pub
ication above referred, and the opinion |
of the Attorney General that the law was
among the statutes of the land. In these
of sudden rush there were few
offerings, holders prefer ring to await the |
progress of events. A sale of 100 shares |
is authenticated for 7Sa. made early in
The day.
The improvement in cotton at New
York and Liverpool produced better con-
1ition here. Holders were better satisfied
% keep the staple at the same prices, and
with view to rise. The sales made were
'ew, as Monday is usually duh in the mat
er Of cotton buying, dealers generally
,ot being able to make up their minds
What the coming week may bring forth.
There is such large stock of -four in
he market, and SO little disposition to buy
more than the ordinary lots for home use,
hat the market is in state of stagnation,
lot even ripple to break the monotony
# the plain and even surface.
A good demand has been growing up for /
aeon within the past few days under the