New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-10-03
ON CARONDELET STREET.

One of the most difficult assertions is
to pronounce upon the general course of
business, as every opinion must be esti-
mated just as We allow for mistakes in
calculation by the standpoint whence
they are taken. Quarantine, checking
the transportation of supplies, acts upon
the produce, dry goods and hardware
market like court injunction Of the rule
nisi to show cause, having been argued
all on one side last Friday. In this
direction, at least, the course of business
does not run smooth, and has dull
result.
Gold is even, and can De had easily at
114!, the demand showing no spirit.
Domestic is damped down by the lack
Of pluck in its correlative branches in
the money market. Banks draw on New
York at one-eighth premium.
State warrants are now from fifty-one to
| fifty-tive cents, and invite investment on
the chances for improvement when the
General Assembly convenes
Sterling is firm at 124, but is without
change.
The stock market shows some anima-
ton. On Saturday 200 shares of Louisiana
State Lottery were sold at $50, and 800
were disposed Of yesterday at 500, the
sum of $4,000 in greenbacks being paid
in. We hear of no other o. erations, and
the stock is not subject to fuctuating re-
ports.
Pneumatic is very fiat at 50.
By a gentleman who carries 100000
on his shirt cuffs, We are assured that a
State officer tried very hard to get thou
sand shares Of Levee on Saturday, but
failed, and he gave the order to a broker
on Monday, limiting him in his purchases,
but the latter has not yet succeeded in
''filling the bill This statement has
two deductions. One is that the buyer
sees the stock going up and wishes to
double his investment; the other that he
had calculated the effect upon the market
such intelligence as he afforded would
have, and wished to sell out while bid
ding was spirited. The reader can take
which ever deduction he likes. Our own
is that the buyers head is level. and that
stock which is now eight has good
chance to be twenty, based as it is upon an
irrepealable franchise which has the form,
the shape and the body of law. The bears
have got the inside. They came to the
front on Saturday, always offering lower
than the market, but taking good care to
tender 1000 shares. Who would want as
many shares in any company unless big
profit stares one in the face? No offer of
100 shares was made except at the highest
rates, and one may easily conclude the
others were not genuine. The only sales
heard Of yesterday were 200 and $50
shares at 81 IS and greenbacks were put
up on each sale. But the bears have not
yet won. The race is not always to the
swift, and the design is too TRANSPARENT
for stockholders to be gulled any more.
We quote the stock from 81 Is to s.. and
very firm at that.
Cotton to cotton men is 10 longer a |
mystery. According to the majority the
mist has lifted, and the clouds rolling
back, have unveiled scene of devastation
in the fields like blasted heath. This
pot is kept boiling. Letters, notes, men,
oranda. figures, planters begging epistles,
country paper editorials and notices.
all feed the fame, until this new prepara-
ton Of "hell broth is complete We are
not surprised to hear anything against the
crop: but the further this bad news goes.
the less is it believed, so contradictinc
the old law about it's rapid travelling.
The short crop intelligence is scarcely
looked at in New York, while in Liver.
pool it is not credited at all. Each tele-
gram and report is Endorsed Scum qrano
Sails" Yet reports against anything like
such crop as last year can scarcely fail
% be credited, for they come in no .sques-
ionable shape" but in plain language,
lone up in matter of fact. Money is the
measure Of all beliefs, and though to stake