New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-03-01
on CARoNDELET STREET.
Business was little brisker in Car

49,
delet street Yesterday, but the movements
were not generally of :: speculative char
acter. There was considerable inquiry
for solid securities especially bank stocks,
which are advancing along the whole
line The same may be said of jackson
railroad bonds and city certificates. The
stock chiefly III demand yesterday was
Banl. of New Orleans, and several lots
changed hands at the following figures:
100 at 4oa; GO5 at 40l; 100 at 4Gi; Jos at
~; 100 ut IL !, and 50 at IL. The high
est prices being those of the latest tram
,actions: at the board the stock sold at AZ.
Slaughterhouse has not recovered from
the blow dealt to it by the Legislature.
Some small lots changed hands yesterday
at 50 -. The future of this stock is
still involved in some uncertainty, but its
friends confidently belize that it can soon
be placed on such footing as to relieve it
entirely from the perils which have hith
erto threatened it. and make it reliable
security.
Lottery stock has, for the moment,
halted i'll its upward course, but it is
firm at about 81. Only one small lot has
recently been offered for sale, the price
asked being 50. This stock and Slaush
terhouse will, probably, be made, the
objects of violent war between two Of
the strongest parties in the street. one
an eminent Carondelet street firm, and
the other distinguished operator, noted
for skill and luck. The Slaughterhouse
bear is the Lottery bull, and rice rersa:
50 that while one will be engaged i'll
''hammering" Lottery the other will re-
tort by assailing Slaughterhouse. When
this contest commences outsiders will do
we'll to leave the field to the belligerents
if they do not wish to be crushed be-
tween the upper and neither millstones.
The Chicago Tribune makes the follow
ing remarks on the present status Of
United States bonds:
tivetwcnty bonds of 1868 can now be
| bought al Ill ., WHICH Is ucdrlS cuudl ~ IVv
| in gold. and deducting nearly one per cent
| for accrued interest. leaves them at 80 i'll
| gold. At the same time the ten-tortcs are
| quoted at ll0t., which is equal to 9is in
| gold, and deducting pig per cent interest
| that will be due ON March | leaves them at
| 965s in gold. or about pig per cent lower
! than the six per cent bonds. The currency
! skies also are now quoted at ll3 and deduct
| ing nearly one per cent accrued since JaAu-
| ~, Tao
| curious feature Of all this is, that the
bonds which bear interest at per cent
| in deprecated currency are higher than
| the tive-twentics which bear six per cent
| interest in gold. The six per cent currency
bonds arr. in fact, selling for par in geld.
while the tive-twenties. which are payable,
principal and interest in gold, are one per
cent below par. The main Cause Of this add
vantage on the part of the currency skies is
| generally believed to be because they are
straight thirty-year bonds, without any
option of redemption at an earlier period
| having been reserved by the government.
Ii this is the case. it would seem that the
ten-forties, which. it is believed, will be a
lowed to run the full forty years to their
maturity, should be nearer par. They
yield five per cent in gold. which. with
gold at lllla. is equal to five and one halt
per cent in currency.
| One important consideration, however. Is,
that when gold goes down to par, the cur
rency skies will Weld as much interest as the
tive-twenties viz six per cent ingold, or its
equivalent On the other hand. the ten
forties will then only weld equivalent to
| five per cent in currency. A resumption Of
specie payments will therefore enhance the
interest bearing value of the currency skies
while it will make the tve-twenties and
ten-fortics yield less in currency that al
| present. When gold gets to par. thecurren
cy skies will in tact be the most desira BILE
| bond of the three
The sales at the board last night were
$4,000 gold at III 10 shares Hibernia
Bank at 1876; resold at 1915 and 50 shares
Bank of New Orleans at A.