New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-10-04
others held, and were prepared to show
oi,ita iiffFArant v;ora zs Ems s'7fsss '4'' - 80

others held, and were prepared to show
quite different views. gas > '''''ss ''.'' = .
Waterworks seems to have taken thu
place of old Ship Island, having az
illimitable franchise unsecured, large
revenue not obtained, and being based
upon law which is not law. ''Not 70,
Joe, was the response to all offers to sell
yesterday, probably on account Of the
watery look Of things generally and the
iquifaction, if not liquidation, of the
Waterworks Company. As many as 5000
shares were sold at 16 cents and 1000 at
25 cents. A bystander having offered to
buy 5000 shares at 30 cents, declined &C.
cepting on the ground that it was latter
bank hours" Some event which
will set up the stock is evidently antici-
pated; some ''move" is on the tapis, but
what it is whence it cometh and
whittier it goeth''-is question foreign
to the scope Of this report.
The fact that stock always improves
under anticipations in which there are
many doubts, and grows no better very
fast when reality stares it in the face, has
been exempliied in Levee. The stock
rose in ten days, in spite of efforts to
batten it down, while the advertisement
for proposals and other indications of a
beginning of the work were anticipated
but not realized. The appearance Of the
advertisement and the announcement that
the engineer matter had been adjusted,
was signal for the stock to 60 down. and
since Saturday it has fallen from 50 to
81 Is. But its descent is slow. Stock
holders part with their shares in re-
luctance, and not even then unless OPP
portunities to ''buy back" are good.
The street was full of bears yesterday,
sure sign of an expected rise; for if there
is one truth more self-evident than an
other, it is that bearing stock is done to
buy, and buying to realize proft-no
one being willing to purchase thing he
believes worthless. Yesterday there were
no sales made, if We except that of 100
shares bought at 81 50 and sold at 81 Is.
Tremendous leverage must be brought
into play to make any reduction in Levee,
and they who seek to bear it simply
want to buy it, and we know what that
means.
The statistical report Of tie New Or
leans Cotton Exchange upon the street
was alluded to as confirmation
Of all theories which had been ''lying
around loose" for some time past, and
forming a basis for speculative prices.
The proper committee have adhered, in
he document submitted, strictly to the
statements Of their correspondents, and
# themselves have given no opinions. In
these correspondents report
hat untavorabie weather has been gen.
.ral, and averages Of the estimates locate
he number Of bales between oue-half and
wo-thirds of the crop Of last year In
louisiana picking commenced from two
o three weeks later than last season, and
he average yield on the acre is from one
.alf 20 tive-eighths Of favorable picking
eason' (whatever that may mean). Re-
,orts from Alabama are limited, and the
lumber produced is estimated at from
ne-half to three-fourths Of last year.
arkansas sends conflicting statements,
which place the production be-
ween fve-elgLths and three-fourths
f the previous year. Texas sends
be intelligence that the number of
ales by the acre will be reduced one
alf. A single correspondent from Ten
essee estimates the yield at thirty-three
er cent less than last year. One-half to
hree-fourths less than last year is the
stimate from Georgia. In all the States
sported, the weather has been put down I
s unfavorable and the crops unpromis-
1g. The circulars have been sent every i
here, and carry short crops everywhere /,
aey 60. The report, however, affords
o basis by which one may get at the
umber Of acres planted, this being left
ntirely to conjecture. BY some means
lie fact that at least ten per cent less in
:reage has been planted, which, added
} the prevailing estimates, would figure
p the crop We are now receiving under =
20 million of bales. True, deductions
-e left with the reader of the report. but
lis is the only conclusion to be reached.
All outdoor business was suspended
in consequence Of the rains
I'd winds, and everything in the cotton
ne, facts, hopes and fears, were as damp D
the atmosphere was moist. Factors
I'D on to their prices, having received
liverpool advices, which, coupled with
ose from New York, confirmed their g
ldest hopes. Prices are on the rise, 9
ID cotton fractions have lively time of Il
while the units remain where they =
re last week. =
The PicQytne has treated itself to an
tire new suit Of type, in which it r
,l-oc itc oppoaraOco 70 rroo% y Jx,,%oro