New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-10-21
ON CARONDELET STREET.

ON CARONDELET STREET.
The stock market yesterday was dull al
no mart at all. Levee looked for time "a.
if it would go down to the place where "olG
Ship Island lief. of; going, and leaped thence
into the bourne whence no stock ever dOef
come back alive. Nevertheless, there were
many parties who bought to hold, and who
raked the marke. with fine tooth comb
The report is repeated with some degree OF
credibility that Mr.. McComb is coming, and
VIII certainly be here to do some fixing up
for some as yet inscrutable purpose. 1t is
also said that new arrangements will he
made to put the company on a secure and
uncian gable footing. as there is too much
money and too many interests at stake to
let SO soft thing 60 by default. One
broker would not touch the stock yesterday,
as he was afraid it would 'go down to one
on him. willie another made all his trans
actions spot on the ground that lit will 90
up to ten, and, as competition is the life of
trade, the operations may be spoken of as
animated. But no one was found willing to
pay too much for it. We hear that a re.
fusal to transfer stock until the president
! Is there to sign is quite frequent
and is by no means tantamount to
repudiation of any obligations. The
fatal rumor of 'wa.ered stock" is sprung
again, probably with the design Of buying.
OF else to let every one know the true state
of the case. 1t was also said a combination
had been formed 20 break it by Saturday"
and II this is true. it certainly met with
some success. The following sales. many
Of them resales, are reported: 100. 300 and
100 shares at So 100 at - ~; 50. 80, 100
and 100 at So: 100 at - -: 800 at So; eco at
s. %; l0J at 81 s. g. and loo at 3 -. Tie
close Of quotations was located somewhere
between 81 s.42 and 8 %. the last being
the price asked. If not obtained
1t appears as il the work Of giving out
steady stream. Contractors show no lack
of intention TO avail themselves of speciti-
cations and compete for bids: bat why. in
the face Of al! these circumstances, The
stock emitting holders to a division OF
emolumen;s is not worth more than quota
tions ascribe il. IS another question which
the events of the rext few days may solve
on enc side or on tie other.
The money market is dull. Gold is under |
ii3. but sales are made only TO satisfy the |
ordinary cravings Of business. The ma
terial classed with gold, such as sterling |
and foreign exchange, are merely nominal. |
and not the faintes: ripple Can be seen in
mol
ork IS at par. with an oscillation toward |
discount OF quarter. 1t is with money as
with the ordinary scales-the dead point
only shows an inclination toward some
great change. some dip not far Off Hence IT
IS Is right to conclude that some big change |
will soon occur in money. as the trade in il |
S so quiet.
City appropriation certificates are worth
10 mere, and although there is no other
combination among brokers than tie
natural instinct TO make all they can get,
he certificates 90 constantly down, and
FOLDERS must unfortunately lose. State
warrants Go not appear. Their price is So
ow holders button them up, and no one can
lame them. Be the money market dull or
ctive, it is all tie same on these securities.
cid by large numbers in small amounts
icy always 90 down. Yesterday showed
o change. except FOR the worse.
Latest accounts show cotton to be quiet r
long the whole line. 1t is evidently ION {
lrn,' either up Or down. The salient O
azure Of cotton yesterday consisted in the
amorous demand Of buyers for back
own on the part Of factors, who, notwith- =
anding the complexion both Of Liverpool
Id New York, where dullness reigned,
I'D on to their position, undefenGed by tt
trenchment. There is little change in the OF
n OF prices though the same offers made ~
G previous day and refused, were rendered :"
sterday and accepted. On the other hand,
ese are many who insist upon it that no 10
ange has taken place, and that cotton is 70
St as much pound to-day as Monday. Sup m
es are still sparse. offerings light, receipts ~
w From day to day the change is SO ba
hit as to be scarcely appreciate. The CHI
neral idea among cotton men shapes ci.
uce animated market ard good season, ev
,ugh late one. The great stress lately al al
lding money il iron grasp, has loosened, he
der less pressure than 3 per cent
nth, which fact is beneficial