New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-11-18
on CARONDELET STREET.

ACTIVITY Is Yet the prevailing character
istic of cotton. The Exchange, formed
upon proper basis, is steadily at work, and
its black boards reflect information as unal-
terable as the laws Of the Modes and Per
slams. Upon its tables are all the business
journals of the world, and all the local pa
pers. and the telegraph is at work ceaseless
as the pulsatiOn OF the planets or the mech
anism Of the seasons. The sales of yester-
day were rOundly estimated at 1000 bales,
and the prices paid indicate change. and
the spirit moves upward. Last nights
as well as our own, with cotton in good de-
mand. and an active movement is certainly
general.
The business in stocks is circumscribed by
narrow bounds. and has simmered down so
low that nothing but the incorporation Of a
few more wild cat stock companies will
create any activity. The regular stocks
seldom come upon the street. and trade is
almost exclusively limited to the ''fancies. -
But general distrust is growing in refer
ence even to these: and when We reflect that
year ago host of such papers were float
ing about belonging to companies that
were bidders and Obtainers of State aid for
canal cleaning, river and land improve
ment. immigration, navigation, levee con-
struction, ObstructiOn-remOval and other
objects, and that now the paper is not
worth. as an absolute fact, the cost OF
printing, such distrust is not surprising.
The era of fancy stocks has dimmed into
obscurity, and it will not he long before all
business will become legitimate. and the
multitude of such obligations descend into
oblivion. This is just. No stock Of com
pany should be quoted unless it bears the
fruit of dividends. The watering" Of stock
should be frOwned dOwn-if not out Of in
terest, from simple self-respect. as no adj
vantage is more unfair and unbusiness-
like than gains by such source.
A better sentiment is gradually taking
possession Of the street, and dark lantern
transactions are becoming questionable.
We notice little improvement in Mexican
Gulf stock over the quotations Of few
days ago, when it was offered at ITO. Nor
are We aware to what influence such I'M
prOvement is due. unless to the genius OF
speculation, which is elbow deep in these
obligations, all OF which have the drainage
pinned on. The rumOr of a contemplated
raid of investigation into city affairs stirred
among the frequenters Of the street, but
did not produce much alteration in the
value of Mexican Gulf, which. if we would
believe dealers, is in the same boat with the
city government. Shares Of Levee evince
slight irregularity, gravitating downward
again, having remained steady for ten days,
from 50 IS to 81. Quotations will be found
reported. Crescent City Waterworks made
q brief appearance yesterday, but soon
1'passed into history" leaving five hundred
of its shares to join the "innumerable cara
van The new organization OF the Pneu-
matte directory promises to give the com
pany a new vitality, of which it is very
much in need. The days of it's experiments
and midnight philosophizing have gone.
City securities remain about the same.
A change came over city seven per cent
bonds, since four parties appeared with
about $!OO,OOO Of these securities to sell.
This is all the more remarkable as the inter-
est on the coupons is payable on the first Cf
December. and, according to Mr.. Walton,
the cash is now in readiness, having been
laid by month ago for this purpose. The
object of converting them into cash so
speedily is not apparent. Were it to raise
money, so great an amount would not be
"ready for distribution" The reader is left
to his own conclusions.
The following schedule represents sales,
offers and bids occurring on the street:
Louisiana Levee Company. 200 shares SO GIL
Mexican Gulf Ship Canal Company, 10
Crescent City waterworks Company, 500 ~ "
Crescent City slaushterho;u;se Company, =
Crescent City Railroad Com pany SO shares 40 "
Ammonia Propeiling COMPANY. 20 shares IA on
state warrants 5000. ............. SO
City appropriation certificates $500. 900. 81
New orleans Sanitary and Fertilizng Com
pany held at.... .................. q so
Tho following proceedings took place at
the Board OF Brokers last evening:
Asked Bid.
Crescent City Slaughter House
Company. ACKNOWLEDGEMENTS. II
Sugar Shed Company. ........ liz
Ouisiana Levee COmpany 31h 2 NIX
Carrollton Ralroa4 ::........... 1l8 50 lie 50
New orleans City Railroad Com.
pany ACKNOWLEDGEMENTS. 10 50
Canal and Claiborne Street Rail-
orleans Railroad Company...... 81 90 $50
Germania National Bank ~ 10 90 l6l 90
State National Bank. ....... - 100 90
New Orleans National Bank SO 90
Union National Bank . 100 90 -
New Orleans National Banking
Association. -............. 81 90
Mechanics and Traders Bank 50 IS -
Canal Bank. ...................... l06 90 l04 so
Southern Bank. Observation-Disclosures. - 90
Hibernia Bank. ................... 100 so
Gold. ................ ! ilss j III
jackson Railroad first mortgage
bonds. 81
Louisiana skies. g.
City certificates of appropriation. 83M
City consolidated bonds. ...... 76N
City seven per cent funding
City ten per cent bonds Of 1871,
new. IS
City improvement bonds. ....,, So
x%~cnis Propsiiine Company: 1878 IS %
Mechanics and Agricultural Fair
Association ................... IL 90 10 50
Varieties Theatre ................ par 800 90
Opera House Association. ........ ESQ 20 200 90