New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-08-16
on CARONDELET STREET.


Rainy weather has tendency to stimu-
late prices of cotton, as the causes of
devastation and propagation OF the
dreaded worm, fhe great crop shortener,
are brought before the eye. Notwith-
standing all, the rates made We're at
prices below the intentions of factors,
who gave way'at tight squeeze for a
profit, and looked for better times. The
receipts are falling of, but still show
greater figures than last year at this
date. Reports from the country come
in, stating that the caterpillar has made
its appearance in some sections, and sad
auguries are coming in, and to be drank
up by greedy ears, about the damage the
insect is to do and the wreck he will
create. Now prices that would lower or
increase on a certain event, descend
further or rise higher while in anticipa-
ton than during the sway of the event
Hence these bookings ahead are, as long
as unreal, the cause Of higher prices,
according to some fingers, than would be
the case were the damage all done. Fac
tors, however, are big with future hopes,
and willing as they are to sell on de-
cline, still too much crowding will not
be endured Buyers have the call at
present, though how long is another
question.
Tha fr17fh oh h. bor,
being now known, and the Secretary Of
the Treasury having announced to the
whole country the withdrawal of the loan,
gold became steady, and ruled in New
York at twelve and half, and was a quar-
ter less here. The sales are ''small po-
tatoes and few in a HILL" and the condi-
ton Of the market affords no basis for
future calculations, Foreign exchange,
following the gold market, has lately be-
come unsettled, and bank sterling is
nominal, while domestic sight can be sup
piled at a quarter premium, falling to
this from three-eighths that it has held
so long. About forty thousand dollars
were sold yesterday at par, divided out in
amounts OF various sizes.
For all the business to be done in
stocks, and money to be made, man
might as well be away all summer as to
be here with his hands in his pockets
Such was the remark of one of the
''bloated aristocrats" who do our money
handling at the mere pittance of half
per cent. He, had visited the walnut
shades Of his Office regularly for three
months, and had turned up nothing.
But when the streets will once again
swarm with the notabiities and all the
gullibilities of the town, his prospects will
be better-and this comforted him in his
great uneasiness and afiiction. In vain
did the interested parties dilate upon the
excellence of compressed air, Morse's
telegraph, and the first steamboat of
Fulton. Buyers, could see all that, but
could not see why it should be worth
more than five dollars. Dips were taken
into natural science, and compressed air
as motor was spread out on the palm of
the hand with convincing ''you see"
at the end of every sentence. All useless. |
Everything could be seen except that it
was worth five and a half, and in the |
end money is the judge of everything:
the wheels Of all government; the test |
and balance of everything in the world |
A hundred shares of this stock changed |
hands yesterday at five dollars and a |
half.
Levee stock seems to have been swept
out of the street, though still quoted at ten,
one hundred shares selling at this.
The only thing now in the -four market
is the report of dead loads of it aground |
up the river, set on foot industriously.
The usual demands were made, and sup
plies met, and business pursued the same
old 'seven tenor" that has been its '.holt''
for so long; high grades going fast and
low grades stationary.
The speculative movement having swal-
lowed up all the available mess pork, has
now turned toward bacon W hich is quite
firm at prices threatening to be against
the buyers.
The main business doing both in cotton
and -four is to satisfy the export interest,
without demand from which scarcely
barrel OF the one or bale of the other would
here be sold.
But the dizziness of stocks is inconceiy-
able. Even to demand how they are SELL
ing is like asking "what are the wild
waves saying" so seldom do they see the
light.
Kentucky Democracy is of the Mark
Tanlev order Last year ii sMent the Stata