New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-10-08
ON CARONDELET STREET.

The close of the week was rendered
notable by decline in the price of ou1
ling staple; considerable animation il
the stock market. which gave evidence Of q
speculative spirit; deeper stringency in
the money market; further decline in the
price OF securities city and State, besides a
promise of lively times the coming week.
Gold Is without sensation in its demand,
and there is not even suspicion of com.
bination; 1141a is the average rate here,
casting out exceptional sales made
City appropriation certificates are on the
downward path, and are now quoted from
- to 70 cents. 1t is said this quotation is
| the result Of the number now offering for
sale.
Cotton shows tendency to fall in price.
said to be brought about by Liverpool dis
patches, which are less favorable to factors
and more in favor of buyers. The INQUIRY
slackened. and brokers called of their
dogs and retired from the fight. 1t is i'm
possible to determine the future of the
market. Bets are offered that the present
Money seems to be advancing its rate
along the whole line of business operations,
and being the life of but one commercial
system in the world, no pronounced feeling
can be developed in one trade centre with.
out extending itself throughout continents.
The money market is noted for increased
stringency, and the greater demand for
discounts lighted cash in all directions.
Cotton moving is now the chief occupation
of money, and a steady drain of cash into
the country has, of course, produced an
elevation in the price. Besides, quarantine
has acted disastrously during the whole
week, locking up supplies, checking the ad-
venturous spirit and stopping all flow of
hard money to the city. These influences
combined have produced the present strin-
gency. But paper on mortgage collaterals
must be excepted, for such securities are
rated about the same as for some time. say
nine to twelve per cent. Loans on com.
mercial paper. the general run of discounts,
are only rated by the month Continued
for year such rates of interest. one. one
and a half. two. two and half per cent a
month. would eat up the principal and
'leave not rack behind" This condition
of things is too steep to last long. Cotton
once moved and quarantine raised, money
matters will become more even.
Levee stock during the week has evinced
a determination to stick at its favorite
figure, and though it has risen beyond this
nricp Of ~ 5O fharo hos hoo,, . .....
clinati on to return to it. Operations of the
company are such as 20 inspire confidence
that the great work will be done. and pri-
vate corporation will yet defend the lands
from humiliation. The stock has remained
at 8 81 since last Monday. True, sales
have been reported at 81 371s, and even at
- ., yet these dispositions were isolated
Instances, and show nothing but a haste to
realize cash on the part of holders. The
greatest sale made was that of a thousand
shares sold by broker within only three
hours notice, when, Of course, it brought
but ". as no time was afforded to divide it
out IN lots, and, as it were. retail it. None
but favorable reports have been received
Of the corporation. Delay has operated to
keep down the paper, as the idleness and |
inactivity Of a compan. Of the kind is death |
to its success.
A sale of 100 and 100 shares of Levee was
made yestesday at s. 50; 100 and 100 at |
81 81 II; 200 at 81 IS.
Nothing new has turned up in Water
works. Anxious expection is on tip toe.
Eyes are straining to catch the faintest |
'peck of hope in the litigious horizon from
which it is agreed the forlorn hope cometh.
The sales made yesterday were 1000 shares
1t IL Zee; 1000 at l6c, and 1000 and 400 at
&c.
Much to the surprise of many brokers'
railroad shares took a sudden
hrob upward, 100 shares having been sold
It 81 50.
Pneumatic stock has been fiat during the
whole week. The prospect of an experiment
Ould not galvanize it into life. No bidder
sked for it. Offers met with no response
'teel tanks, now that paper and india rub
'er air cisterns have busted, were spoken
#, but the scientific theories on which their
ctlon was based, when told out, elected no
more attention than wind explanations, so
requent few days ago. An experiment
nade on Friday had the bad luck attributed
0 every enterprise begun on this ''unlucky
ay." The cars started off with load of
wenty passengers, and went all serene to
ANAL street, when parties interested were
ongratulating themselves on the success of
he trial. Starting to go back again to the
hop, the car stopped, and could not 20 any
arther. The word ':fizzle" was freely used
description of this effort, and stock was
esterday sold at s. 25, S., and, without
luch effort, could be had at lower prices. 80
eneral is the belief that ''the dogs dead"
ike all other things Of this nature, the non
nifty of the company's prospects were not
ithout premonition, but it was unheeded.
ertainly. if doubts as to the success Of the !
'mpany help the advance of stock, Pneu-
ATTIC should be high.
Have Your Printing and Binding Done nj
'e Pelican Job Once, Corner Camp and I
oydras Streets. oc29 "