New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-10-07
on CARONDELET STREET.

A fair degree of animation prevailed upon
| the street, to which no untoward event gave
an impulse. Probably the chief topic of
sudden scarcity of money. which seems to
have disappeared in the cotton moving de-
mands, even as the thirsty earth drinks up
the falling rain.
In the stock market there was little ami
nation. A number of outsiders. who seldom
show their countenances ON the street. APP
peared, and made anxious inquiries as to
the price of SlaughterhOuse. In some in
stances, we'll pronounced scare was the
result of hearing that the stock was only at
twenty-five. But such feeling subsidized after
few hours, and Slaughterhouse is itself
again, and will not go under twenty-five
dollars without an effort: Levee stock holds
still. An impression prevailed that the pa
per would come up to-day, and for this rea
son few sales were made under s. IS, a
figure for which this representative Of
money has an undoubted Partially. The
agents OF the corporation are steadily at
work, and the button which has set the
machinery in motion has been touched and
the financial as we'll as ministerial functions
are all in working order. The bears seem
to have disappeared, but the truth is they
have only gone under cover to break out
again, soon as opportunity offers, to regain
their vantage ground.
That the decision of the Eighth District
Court upon the suit of Bovee against Her.
ron would have some mysterious influence
to elevate the Waterworks stock appeared
evident. The decision, however, did not
come. and the stock went down Though it
had not far to iall) without any help. It
was quoted throughout the day at 22l., 20.
10, Is and l21sc a share, and sales vert,
made at each one Of these quotations
There was good many rumors afioat about
there being two million dollars of stock in
the company, and more than that on the
street; but these statements were probably
originated by those who wished to see the
stock down.
Loans on collaterals have not been OBJ
tanned on such easy terms as some time
ago. For loan on short time an offer was
actually made yesterday of two and half
per cent per month. Even mortgage paper
is rated at ten to twelve per cent, these
terms being asked by a house in which
foreign capitalists deposit their money to
be used. The many uses for which money
is needed have certainly produced change
which can not be lasting. The complaint is
that rates Of interest in the market are so
high, the exactions so deep, and the red
tape so vOluminous in its folds, as to render
borrowing business only to be undertaken
in extremity or under the same spell that
brings about a sporting of securities.
Enterprise is checked and profits are meager,
for great gains consist in small bearings
often repeated rather than in one 'dead
fall Quarantine is still gigantic inter
ference, an officious intermeddler that
thrusts its features now and then in the
midst of all transactions and will not be put
down. There is an expectation that the
the quarantine will soon be raised, which,
IT itself, led toward different feeling in
he market, but had no appreciable effect
lpon loans.
Gold is quoted at ll4* a lis at the high |
at figure, but only few transactions were
made at these figures. Whatever specula' ]