New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-09-10
ON CARONDELET STREET,

rate is still Sc p, and Sc 125 is freely
bid. That the stock should not go up is
a matter Of great surprise, though it is
easily accou nted for, as there are great
number of shares on the market that can
not be sod at rates to repay investment.
We heard Of no sales yesterday at a
higher price than Sc %, though there is
considerable movement to sell out. In
formation is uncertain. The look of COM
mencing the levees is delayed. The en-
gineer, whose arrival was so eagerly an
ticipated, has not even cast a shadow
here The work on the levees is so long
delayed. the operations of the company
are for such length OF time held in
allegiance, it is not matter Of wonder
that the stock will not appreciate in value.
1t is even doubtful if Sc % cash could be
had although such bids were offered.
Pneumatic stock can be had at any
price from SIS to Sc %. The new tanks
are still here, but the power to withstand
compressed air is yet an undecided ques-
ton.
The time for the arrival Of imports is
now at hand and hence gold rises, being
quoted at 113 to 49,, figure to whichit
has not approximated for three months.
Imports are on the way here and have al
ready arrived, and are even in store, for
which duties must be paid up. Yesterday
the following rates were heard of: S10,O 900,
$1,000, $500, S2500 at 49, $4,000, $1,000
$1,000 at 1871. We hear of no attempts
made at gold speculation called corner
ing" and are of those who believe this
market is not the proper place for such
transactions.
Though the money market is easy,
there were no operations or loans yester-
day, the sole business of the street being
confined to stocks.
The fact is patent that we have fewer
cliques on the street than in other cities
of money and trade. There is less con-
trariety Of tastes The street is either all
bulls or all bears, either side caving in to
the other, bulls changing into bears and
buying when down or going to the bull
side under like conditions and selling.
One man finding out the state of things
can fight the whole street, and by little
science he can whistle and the street will
dance, take snuff and it will sneeze.
Where there is such few diverse interests
Il l. IL / Ill
probabilities, when outsiders become in
terested III these operations, different
character will prevail.
1t has been suggested We should have
brokers syndicate where a series of uni
form daily quotations could be had and
reported.
The tirmness in the cotton market still
continues. AS usual, little doubt is
great help for high prices, for as long as
it is unknown how much of a crop there
will be, sensitive capital undertakes it.
We have no cotton syndicate, no agency
where one may see at a glance the tabula-
| ton of reports and calculate for himself.
We go upon conjecture, travel on the
shape of misgivings, sometimes idle as an
old woman's drivel. At no time can an
estimate be made, either of the cotton
planted or that destroyed. The only data
to be had are receipts and sales; the only
conclusion one Of common satisfaction
if so many bales get here and so many are
shipped off, so many remain to be shipped
Can the Cotton Exchange not have
an agent in all the districts tribu-
tary to New Orleans, whose information
could be relied upon.