New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-10-31

Few shares of stock were sold yesteday,
and it looked rs If there were no market for
any Of this class Of paper. A startling an.
nouncementof sudden TALL in the Missis
sippi and Mexican Gulf Canal stock was
made in the morning hours, and speedy in
quiries were made for the reason'of 80 pre-
cipitate decline; for while unanswered,
these inquiries only added to the mystery.
1t soon turned out that thirty shares were
put upon the market and sold in order to
realize cash; that the sale was . necessity;
that there was no time to wait, the demand
being urgent. Hence the shares were sod
at fall of ten per cent below the rate at
which it had been quoted and readily sold
for fortnight. A general belief exists that
the stock is good. and the dividend not SO
far of but what they may be family deserted
looming up in the distance. Beyond this
momentary thrill there was no sensation
IN stocks that is worthy Of notice, unless
the report Of pending negotiations concern
ing the franchises of the Louisiana Levee
Company may be excepted. What these
plans are, who is to be introduced anew
into this corporation, how much money is
to be put up using Characteristic ex-
pression) are all in doubt But the fact, as
rumored, that there are some negotiations,
has been on the street, kicked about, for
several days. Various sums are mentioned
which, according to the talk. are to be ad-
vanced, the money lenders to be we'll Sc
r:A
amounts the company will push forward
the work. The stock is in a state of coma.
There is not sign Of vitality in it beyond
the fact that some sales are made as low as
90 62la and So IS. 1t seems at the mercy
of every breath. Like everything, when
weak. it is the prey of false terrors and de-
voured by abnormal fears. For ten days it
has remained immovable. and beyond the
prices mentioned above there is, at present,
no market for it, but holders are still conf
dent, and are even buying. adding in some
instances to thousands Of shares.
Some inquiries were made for city certiti-
Gates of appropriation, which are still i'm
proving slowly, and yesterday were spoken
of as worth eighty cents, and sales are re-
ported. In ten per cent bonds we have not
heard Of any change. State levees, far as
interest in them is concerned, appear to
have disappeared from view. Small war.
rants were sold yesterday at tifty-tive cents,
but all business in city or State securities
has dwindled down into an almost absolute
calm.
Cotton ruled at sitter rates, for though
no actual advance beyond Saturdays quo
tations has been made, yet the sales are
extraordinary, considering the supply
within our gates" Yesterday showed an
increased activity. A dispatch generally
credited placed cotton in Liverpool at nine
pence and three farthings, where it had |
been nine pence and tive-eighths. This all
vance, it is believed, affected our own
market by sympathy, and though the state
Of the weather stopped all outdoor business,
and exercised discouraging effect. buyers
came up and factors came down with great |
determination. The crop question is no
longer brought up, and calculation has
about fixed the number of bales to arrive
before next September.