New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-08-11
ON CARONDELET STREET.

In The midst OF considerable animation
conseq uent upon the drop of gold, the
stocks, and those cash representatives
that play in the street, were whirled about,
offered and run down (but not sold) in
great liveliness. 1t seems as if the casual
remark of broker, made the other day,
that it is impossible to keep any stock up,
is true. N sooner is there any buoyancy
shown than it ''fops" down again, after
| trying to stem the tide for few days.
There is no reason for this but the DUH
ness and the fact that there is not money
enough used in the stock business tokeep
them afoat. We prefer they should al
ways be up, for every one is cheerful, and
all classes of dealers in money benefit by
it. Yet the principle which applies in
natural forces where the higher a body
rises the stronger grows the power of
| gravitation to bring it down, seems also
to apply to stocks-the higher they rise
the greater the effort to keep them up.
Pneumatic stood rigid at nine, then
rose to nine and half, but fell again to
nine, the sales made at these figures
tluctuating according to the hour when
the stock was disposed of. Levee could
be had easily at ten and "a quarter, and
holders would even take less rather than
lose the sale. The fact is, these stocks of
all kinds have been held SO long, while
the owners have possessed their souls
in patience waiting for better times, that
the slightest rise is met with greediness
to "shove it of, when of course the
articles descend in value, like everything
else which possessors are anxious to get
rid Of
Anxious eyes are now cast ahead to the
time when the gold sticks will once more
assemble, and the ''board" be in daily
session. 1t is in this connection sug-
gested that the board and the Cotton Ex-
change, and any other purely financial or
commercial organization, should all meet
in the same building, but in different
rooms, which suggestion is believed by
interested parties to be good one.
City and State securities still bear good
prices compared with. the old rates, but
these as well as State obligations, warrants
and bonds are dependent upon settle
ment of political questions, and until |
these latter agitations caase, sales for in |
vestment will be few, and ''Not for Joe" |
is the answer to every tender.
A sale Of S2S, 600, at an eighth premium
on New York, is reported, the ruling rate
for remittance being three-eighths, and
transactions are common at thisprice.
In the staple the changes of the situa-
ton of politics make no alteration, though |
the dizziness yesterday was unaccountable
on any other hypothesis, the advices from
Liverpool being mute, and news from all
quarters foreboding nothing in particular.
The same spiritless influence pervades
the flour market, though the sales made
showed the partiality in which the double
extra grades are held, they going off with
out difficulty and at stiff rates, which no
anticipations of receipts can change.
The drop in gold is attributed to va
rious causes, among others to the nego-
tiations for the balance of the new loan in
London, SO producing an advance in
United States bonds
Sugar Shed is not much sought and
it is not yet twenty contrary to the s'puts"
made by its friends month ago. |
The decline "a slight one) in freights is
regarded as good omen for the next sea-
son, and produce for transportation
through our ports look hopeful, notwith-
standing the contrary interests which
would fetch it across to and through New
York.
The most favorable sign in all the opera
ions on the street is that holders are no.
where disposed, unless acting under fear,
% press sales, which shows something
It the bottom" in all these operations that
will do to depend upon.
H. IL. -