New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-09-05
ON CAROEDELET STREET,

1t is now apparent that levee stock, in
its descent, has about 'stouched bottom, .
and that discouraging reports can not of
feet it much longer. In all movements of
| stock, buying or selling, there is a central
figure, a bear in buying or bull in SELL
ing. No one, who wants to buy anything,
will fail to depreciate it, if in his power,
and it is equally true that any one who
wishes to sell out will try to ''put it up
The central figure in the late Levee bear
ing movement has been consistent and
persistent, and, no doubt, has absorbed
many shares ''lying around loose" but
many are too wary and have held OH while
others have been caught as readily as
cheap fish. Reports contrary to the facts
of the case, discrediting every intelligence
in favor of the company have been multi
piled industriously but on the. ears of the
knowing ones have fallen dead. The
franchises of the company are greater than
ever granted in the State. Its entitled pay
for work is liberal; its privileges at the
auditors and treasurer's offices stand
above all other corporations; its expec-
tations, already half way realized, are
more to its prosperity. Under the cir
cumstanccs, it is not surprising that capt.
talists are seeking an interest, especially
when it can be had at the rate of 81 !
share There is no trouble about selling
Eevee. Let any one shake a thousand
shares and it will be gobbled in no time
True, the market rate must be followed; this
to make, is a merely matter of every day
business; but it is stock that never goes
begging. Yesterday the stock was be-
tween Sc 81! and 81, but still no sales
are reported, and ''the cat in the meal
tub" is discovered. There are many
shares Sin pickle" which no wave will
reach.
We hear of so shares Slaughterhonse
sold at S25, between which fgureand S26
the stock steadily vibrates.
There are few offerings of stock besides
Levee and Pneumatic, and there is more
business done in the latter than in the
former Indeed, the business in Pneu-
matte yesterday, or rather the pretense of
business, was somewhat lively.
Gold ruled at 1128 here, and was 113 at
New York. The scarcely appreciable varia-
ton in the rate at once shows the dull |
ness of this branch of the money business.
There was slight activity in the de-
mand for State warrants, which are of
fered at ffty-fve cents for large and sixty
cents for small sizes.
Pneumatic stock has still an upward |
spirit, but we are unable to authenticate /
any report of sales made beyond Sc so on
Saturday, though the friends assert it TO
be worth more. Yesterday one hundred
shares sold at 81 So
Domestic exchange is still steady. The
banks still draw on New York at three
eighths premium.
Crescent City Waterworks does not
claim any attention. The last quotation
heard of was twenty-f cents for share
of 500, at which rate it will not take
much money to control the destinies of
the company.
We hear something about the boat of
the Mississippi Valley Navigation Com
pany being in readiness for launching,
which news has not yet improved the
stock.
The reports concerning cotton are still
against the coming crop and hence to the
advantage of the factors, whose prices are
till held up, the diminution, if any,
being trife. Strict low middling is not |
o be had, according to report, and 'lor
his reason tie price is little in advance
If Saturdays figures, and, of course, will
Increase, commensurate with the difficulty