New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-10-13
on CARONDELET STREET.

| AAo nloAey market SHOWS no change. Ih(
demand for discounts is liberal. Tie cal
lof accommodations repeatedly gives evi
0ence OF greed for cash with which Il
operate. The fact that all the trade centres
OF the commercial world are held togethe,
IN one system by laws as wise ard rules
as sure as the forces that control the planet
airy worlds may possibly explain the recen,
| erect IN America of the stand taken by the
Bank OF England in ansu.en:ing its ,ate
Of interest.
The system is only made the more per.
feet by the electric telegraph. and almost
before the people Of London have ceased to
dwell on the position taken by ":Le cd
lady OF Ihreadneedle street. the impress
sion is visible on Caroadelet street. Eyes
OF The whole street are now turned to the
moving OF cotton, and ever bale is watched
that the future may lie d;,nly discerned, if
not read
Money is scarce here because the demand
Is active, and consequently interes. is high.
Were there no cotton to be moved, no other
commodity whose momentum was to be
overcome by the all powerful agent of com
merce and the "sirews of war" money
could scarcely fail to feel the result Of
finance in Europe, bit when to these in
fuences one adds the idea Of insurance
losses to be borne by Boston, New York
and St. Louis, as well as the shock
20 all markets created by the
most disastrous confla grafton of modern
times, the great cause Of moneyed
stringency stands out in bold relief. 1t is
absurd to suppose capitalists have no inl-
agination. Nothing is more sensitive than
capital; nothing has such foresight. The
price OF thing not only shows its value,
but tells its future; and 50 correct ia TIE
barometer that it prociaims the pressure
long before it comes. With such reflections
that form tie ordinary small talk on the
street, taken with the siuggishness OF cur
rency and the hourly news from the North,
which only adds up more losses to be borne
by the crack insurance companies of the
continent, one is not surprised to hear that
all street TRANSACTIONS stood still, and the
army Of operators in stocks. securities.
commercial paper and bonds rested On their
arms.
LIE street was calm as an inland lake in
August. Far as dealings in evanescen,
stocks. transparent humbugs. incandescen,
paper was concerned the day showed no
more sign than if it had not been a dav a.
all. All quotations fell back on the ranks
Of TIE day before. Wa.erworks made
10 mark: Pneumatic had norl;n. 70
say. and as for the raft cf other calculations
OF stock companies, Cont mention it, was
TIE prevailing sentiment. Everything looked |
old. Slaughterhouse could not he sold at
go though it is scarcely fair to take it,. |
price yesterday as any criterion of IFS worth |
or loss. Holders OF stock were anxious. bat |!
yet afraid to sell IL such uncertain weather, |
neither fair nor foul, while purchasers were I
equally unwilling to buy, lest tie next Gay
might see the thing lower Tie financial |
must become more pronounced |
before one will witness animation in The
market.
Cotton Of the mild.ing grades is now
nearly exhausted, and commands an extra
price. A decline in foreign exchange Las
changed the Limits" of large cotton orders
low pending from Liverpool. ami hence.
operates TO stay proceedings until the
stream shall become settled down into a
Uniform and calculabIe current. The i'm.
preston seems to prevail that recent large
aies OF cotton are due to tie authorization
# higher prices after tie present lull is
,Ccr