New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-08-02
ON CARONDELET STREET.


proving, and stocks, as well as other rep
resentatiyes of cash, seem to quicken into
liveliness Over the whole field this in
fiuence is observed. Gold being at twelve
and quarter in New York, closed here at
the usual advance of an eighth to quar-
ter. Many lots were sold at figures within
these rates, showing, however, no more
than the average business, mainly for the
payment of importations and settlement
of foreign claims.
City securities are doing better, holders
not being ready to sell at the usual quota
tons, with the exception that those ION
a pinch, who were bound to get cash, of
which, in these times of slack business,
there were not few. Things look hope
full, and 'great expectations" seem to rule.
In cotton the inquiries gave indication
of good news. The demand, however,
still sets toward the low ordinaries-the
middlings being as before, alone in their
glory. The topic among those aristocrats
among merchants-the cotton men-was
simply in reference to the cotton crop,
and about this, in fact, conversation goes
on all the time. Such expressions as
''short supply, "one-quarter less than
last year." and ''slim everywhere but
Texas" were heard on all'sides, while the
knowing ones kept quiet and took notes
These discussions are only Of importance
as they tend to regulate prices at present
or the future, as the prospect Of ''plenty
there and more coming" will lower the
scale fraction or so, and it is on these
fractions that fortunes are made. Rumors
and quasi-authentic accounts of the worm
arc industriously circulated, which
rumors are manifestly in the bull interest,
and although there is evidence to show
that the worm has actually appeared, yet
there are no apprehensions that the COM
ing crop will be destroyed or even seri
ously damaged thereby. AS all our bust
ness depends upon cotton, the great
importance of all information touching
| the amount to be on the levee will at once
be seen.
In -four the inquiry perpetually seeks
the higher grades, which seem to have
melted away, as none are to be had. Part
of the dead loads" of which mention
was made short time ago, have arrived,
but as they are not yet landed, can not be
considered as among the receipts or as
food for speculation. What dealers and
operators are calculating upon remains to
be seen, but the lower grades go begging.
Domestic sight still rules at three
eighths, though twenty-five thousand
sight sold yesterday for quarter pre-
MUM. But settlements with New York
creditors are made every day at the rate
which really appears as unalterable.
In stocks, the Levee has taken an up
ward flight, stopping uneasily at thirteen,
and trimming its wings for further
flight, according to the bulls, while the
bears croak and say it is time to sell.
Even at these figures there. was no great
anxiety to unload; had there been, such
would not be the quotation. Unauthen-
ticated statements represent that as high
as fourteen was paid, but that the stock
is again on the rise is undisputed.
The current of opinion, notwithstand-
ing the prevailing dullness, sets toward a
belief in great improvement. All the
elements of trade are so closely united in
chain that an Improvement in one is
shared by all, though the slight altera-
ton in the prevailing dullness may be
but short lived
In State warrants there is no DISPOSE
ton to buy, the temporary feeling in that
direction dying out soon. A belief that
they will improve on further holding
seems to be general, sales being made
only ''under pressure"