New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-10-12
ON CARONDELET STREET.

Among al classes OF business men the
present tightness of money is the subject OF
remark and the object of much appreheu-
sion. Taking at his word broker whose
foresight has hitherto been rewarded, "the
whole arch" said he, SIS shaky when the
keystone is touched" and hence the pan.
icky feeling already prevalent in New York
on account OF tie influence created by the
fire losses MUS: affect our own transact tons
by sympathy. An apprehension is already
| gaining ground that money will grow still
harder to get, and the interest for call loans,
which are just now in demand. still higher.
On good authority il is stated that one bank
refused to loan twenty-five per cen, on the
low value OF good collateral, and that fire.
quent inquiries made like the above for
money to move cotton NE: with the same
| result. or else were answered by terms that
were simply impossible This s.ringency
will affect the street in various ways. Money
for business must be had. Purchasers of
stock who, under ordinary circumstances.
would have held them for a year without
cavil will soon push them on the market to
realize cash. We DO not anticipate any.
thing like crisis. Only temporary en-
barrassment is to be met. and then all will
be smooth. The losses to be met bv insur.
ance in New York are not all to be paid at
once, but will be settled on the homeopathic
principle. Such views as are here expressed
reflect the opinions generally current upon
the street. and together form reason why
the offer to sell stocks or other securities is
met by a bear answer. inasmuch as the offer
is attributed to the desire for money. Rents
are falling at every inquiry, another sign OF
scarce money. Cotton does not command
the price it Should, We're the shortest Of the
short crop estimates true, for factors can
not hold out ard must sell. and producers
are in the same prelicament.
Of all the stocks on the market Levee
is now the only one worthy of consideration
or attention. No allusion is made to the
Red River Raft Company's paper, for we
can not do justice to the subject. nor is i:
worth while 20 say much about the South
eastern railway that is being laid and the
stock Of which is in spasm Of doubtful
quotation. Still less is it necessary to in
innate anything about Watecwo.ks. sold,
as i: is. by the five thousand shares. when |
there should be but twenty thousand in the
whole corporation. Nor would we a!,ude to
or Fertilizer, or other stocks
among the "high ups" Of all these stocks
Levee is the main medium Of speculation
and ''option sales" For this alone ali bear
movements are organized and combinations
;ormed Yesterday showed so much var;a-
ion in the sales that the horoscope became
l;mmed, ard whether one does or
lot believe that Mr.. McComb will
,e here in few days, that other
ontracts will he commenced speedily. that
dividend will be paid on the stock, yet
he forthcoming events are the great diai-
ultv. Rumors are set aaoat every hour to
yeaken faith in this stock, and though the
ell known big bears have exhausted the
hole batch of p,fjudicial reports, yet now
nd then fresh canard is set loose to
luse but commotion. According to I
roker Of experience. the only way to bear
ock is with stock, and not with the