New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-10-06
ON CARONDELET STREET.

ON CARONDELET STREET.
The traces of gold combination were Oh
served on the street yesterday, combina
ton which evidently acts upon the suppose
ton that gold supplies will be ''short'' here
for few days. owing to the quarantine
estopping the current from Texas hither
ward An enormous number of sales were
made at rate from HAS q HAS, a price
higher than in New York by seven eighths
Sales Of a hundred thousand dollars were
heard OF, and many more unheard Of were
made. There is no other proof that COM
bination was Intended than the eagerness
with which gold was gobbled up, and the
simultaneous move made upon Camp and
| Carondelet street to buy. But gold can be
passed here from New York so easily that
the success of an operation Of this kind. indie
pendent of Wall street, is rather dubious
There were many painful memories of
'Black Saturday" last year, and too many
"reminiscences OF burnt fingers among keen
brokers to try this fire any more. There is
less risk and more money in stocks. though
the money market is tightening and prices
are hardening.
The animation of the stock market on
Wednesday lapsed yesterday into a dis
tressing dullness. which lifted toward the
close Of the day. and the field of transac-
tons cleared under vigorous assault by
the combined forces Of the bears and bear
lings. Two hundred and $50 shares of
Levee sold at g. 81 ": 400 at s. IS; $50 at
q 62l2-showing the rate to be in the
heights instead Of the depths. Whether or
not it will touch 50 again by Friday, &C.
cordlng to the opinion of a bystander, re-
mains to be seen. But if any one desires
to see quick sale. let an offer be made of
a hundred shares Of Levee at the market
rate. and it will soon be caught up. An
street by Offering hundred shares at 81 25
yesterday, but soon failed, owing to the
rapid style in which the offer was accepted.
The cat has not yet been discovered in
the Waterworks meal tub, but abundant
reason to believe it is there can be afforded
q
500 at 20ls: 800 and 500 at 90: 500 at Is
cents, and more coming. This is another
of the street illusions. and is buying and
selling affair. There is faint hope that
may come out Of the next Gen
eral Assembly-another fancy that some
suit at court may develop she'll in favor
Of the imperceptible corporations glim-
mer of imagination that the city will soon |
lose its hold ..Ot the bona fide Waterworks,
and turn it over into the possession of the |
fancy Waterworks: but all of these are |
nothing more than Dreams" as there is
not the faintesr scintilla of fact upon which
70 base any real opinion, and speculations
must be confined entirely to the probabili-
ties. perhaps the possibilities, but never the
:ertainties of the great deeds of the COM
'any which will declare dividend on the
stock
Slaughterhouse is on the fence-hesi-
ating whether to hold on or let CO." to 90
Town or up. We have report of only %
hares selling at 80, rate which has
lOthing sensational in it.
Factors OF cotton. supported hitherto in
heir extravagant pretensions. have received
lew strength from the reports and intel
igence which has arrived from across the
water, a pronounced advance of one-eighth
f a penny astonishing the bears of the
liverpool market Short crop news is be-
inning to receive credit at the eleventh
our. and this is evident both by the tone
+ dispatches and the ruling prices for our
otton in the foreign exchange. The in
uiry Is fair. A still greater advance is
robable in our own market, as sales were
lade yesterday from a half to quarter
ent advance on the prices of the day
efore, which prices were themselves an
dvance over the quotations of the previous
eek. Thus the tendency of the market is
pward, the current of prices sets North.
nd it will be some time. 1t is predicted by
nose who have some right to be called
rophets. that cotton will not, for a
ear, see as low figure as the quo
ltions of the preceding week However
lis may be, it is certain now that the ,
purse of trading is toward good prices.
he laws of supply and demand are as in
exible as the forces of gravitation. Money
cling plenty, prices are high scarce. and
ley are prorortionally low. Following .
My the ordinary reasoning taught to
dam, and which only requires the posses c
on of ones seven senses, the short crop is
ointed out by the rise in price, steady and
radual, from the time when the first bale
omed up until now. AS the supply is !
lorter than last year. the price is higher; J.
nd indeed it Is believed comparison of 4
ling rates for the corresponding time last !
.ar with this would chalk out almost the d
act number OF bales which will be re- =
ived from the cotton fields and the e
asted heath business, now retailed so ex. $
nsively, would either harden into fact u
disappear in the grave of all other illu- v
ms. An old cotton man bets that he will 4
me the next crop within fifty thousand e
les, and pronounces as his 'pile" 1912, 900 S,
les, while others differ by about half
lion from this estimate
The advance in the month of August in
e work Of boring the Hoosac tunnel was
narkable. amounting to nearly 1000 feet
horizontal progress. The progress gained