New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-10-25
ON CARONDELET STREET.

The general course of business is slow.
The stress in money seems to give way.
Stocks which had been pushed upon the
street to realize are now held to in an iron
| grip. No sales of real estate were made
during this pressure $50 short lvedl, and
| now that the clouds are lifting one sees the
clear country open out beyond the present.
Something else is moving in the current
beside iron barges, but all mediums of
speculation at present keep in the COOL
The stock market is ostensib!y unaffected
| by any news. All stocks are impertur-
bab}e. Information was received and in
telligence principally connected with the
Levee Company developed into a fixed
| fact that inaction shown would still lower
depreciate the paper. Mr.. McComb de-
parted, leaving the faithful as much in the
dark as ever. Contractors, i: is reported,
are still in doubt that payments will be
made for work done on the levees, although
the contracts have been given out. Sales
Of the stock opened with eco shares dis
posed Of at SO so, slight advance on the
previous day. which, however. showed
strated. States are set up in which future
prospects of the corporation are cLalked
ont in bewildering mazes Of millions profit:
but none of these intimations touch
the value Of the stock. Lottery has gone
down from SOS. its figure few days ago,
to SOL, and hard to get that. Slaughter
house is scarcely alluded to. Fertilizer has
an additional interest beyond its ordinary
belonging, owning to an election for direc-
tors which will soon takes place. and a
strong effort becomes visible to gain con-
troll of the company On the plan Of ''buying
in" Of which we have heard so much. The
plan is to transfer by power of attorney.
No sales above $50 have been heard Of
but it is mentioned that this stock is worth
much more. 1t is not that no shares are on
the market that the duIlness is so marked,
but is owing to the Incidence Of all specula-
tors and buyers, who refuse to come up,
and who have no disposition to undergo
risks. Pneumatic seems to have melted
away, and like traveller in a deserted vii
lage, looker-on has only to think Of the
things that are gone' During its allotted
span, no stock has ascended higher on so
little foundation, and in all probability
none ever will again.
The business in city certificates has
slackened of, and they were quoted at last
accounts from 70 to 80 cents, an improve
ment which many holders would have been
happy to embrace, had they the power;
but most Of these have already gone out
Of the hands that originally held them. |
Their future is dim. The past, with its |
vain struggles to realize proper guid |
pro quo, is like a bride path over which |
the tide rises to wash it out forever They |
will soon again be the toy of brokers, the
sport of the street.
Cotton is again quiet; sales do not show any !
appreciable difference from previous quota
tons, and the market was without ANNA
ton to buoy up the hopes of factors or stir
the accumulative impulses Of producers,
who are. now straining their eyes at our
Indication of what is to be, the mart yester-
lay was a dead failure. Cotton BETRAYED
40 symptoms of activity anywhere on the
inc from Liverpool to New Orleans. By
many, whose opinion is worthy to be taken,
t is held that the present quiet of the staple
. but preparation for active movements
n the future. But, taking the whole street
n at once glance, the current of transac-
ions flows on smoothly without q ripple to
disturb placidity, which is as much the
fleet of "waiting for the wagon" as it is
he result of q lack Of confidence in the
uture. and is indeed due to little Of both.