New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-08-04
ON nARoNnELET STREET.

embraced no more than the usual sales oil
gold at an advance of one to three.
Fights beyond New York, which stood
firm at twelve and one-eighth, seeming
disinclined to change from this any more
than fraction.
The rule for domestic exchange is still
invariable. Quoted at three-eighths, still
there is no disposition in it to alter,
though fifty thousand dollars was sent on
yesterday at a quarter. The business all
consists ia the mere routine, and in MOTH
ing is there any change either for the bet
ter or worse We hear of a sale of thirty
thousand dollars by the Sub-Treasurer at
twelve and three-eighths, showing the
apparent permanency of all transactions
in gold, and as other merchantable ar
ticles usually follow suit, they too are SO
little changed as to be the subjects of
calculation-what and where they will be
in the fature-like the rotation of the
planets.
Something like a change came over
cotton, but it was only squall and soon
passed, holders standing firm on the news
from Liverpool, notwithstanding the dis
couraging advices from New York. All
sales yesterday were at full prices, and
the tail of the cotton season threatens, as
it drags its length along, like the fire fly,
to have all its brilliancy in its end. The
unfavorable crop prospects form the
standard of conversation, and as it is in
the interest Of many people to shorten
the crop all they can before it begins to
come in, the chances are this will not die
out.
In flour, prices are still firm as rock;
it continues scarce and the demand is
good, with fair prospect of improving.
though receipts will control that in
great degree.
The late rise in river freights is authori-
ty for much discussion and more ''pros-
pecting" calculations for the future, upon
which speculations are based. This
rise comes with the usual plea of
necessity, and the trouble is, as it has
begun on river freights, it will continue
on all others, as one branch of business
can not be touched without affecting the
whole system.
In street operations with stocks there
is nothing worth mentioning, anless it be
the slipping down Of Levee. 1t is said
certain incorporators of the company
have unreservedly sold out, that the con-
tract is ''otff, as the saying is, because it
is not, as yet, ratified by the stockholders;
by the new company right away. With
such disposition to sell, and with these
rumors flying about like the wind, no one
knowing whence it came or whittier it
eoeth," it is no wonder the stock should
show symptoms of relapse into its old
dullness, from which news of the con-
tract with the railroad men reused it.
Five hundred shares were yesterday
bought at eleven dollars. one hundred of
which were almost Immediately resold at
eleven, two hundred at ten and three
quarters, and the same number at ten and
half, showing distinctive depreciation.
Still, there are many men who hold it and
will not sell, on the contrary, buy every
opportunity they get. The truth seems
to be that no stock of this kind can long
keep afoat in the prevalent dullness; there
is not ambition enough to keep things
moving; even panics are out of the ques-
ton in such prevailing temper.
Of Pneumatic, fifty shares were sold at
four and half; one hundred at four
sixty-two and half. with no other de-
mand. OF warehouse we have heard of
fifty shares selling at two dollars each,
the faithful in the camp appealing proudly
to the decision of the Supreme Court, in
reference to the issue of bonds, of which
this company claim million. Of other
s'shoo fly" stocks, ''many were called, but
few chosen even their names were for
gotten, they being alluded to by a mem
ton of one only of their high sounding
titles. We recollect what great anticipa-
tons were INDUCED at the time these
stocks were going through, of what big
sums, even as high as twenty, were offered
for the certificates before the bill became
a law, and soon after the adjournment for
all these hopes to disappears was the cause
of considerable gloom, but there is faith in
some Of the s'shoo fly yet, which is the
most surprising thing Of all.