New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-09-06
ON oARONDELEr STREET.

up, put WITHOUT operations, IL CHI Ncb NC
said there was any great activity in the
street. For once, the lever which rises OF
falls stocks and the like securities, stopped
its daily throb. Of late its only move
ment has been more downward than up,
but when the things are all fixed, it will
be time enough for ga bull movement.
There is not much doubt but that Levee
stock has touched bottom, or, to use a
common phrase, stopped going down. A
sale of 200, 100 and 100 shares was trans
acted yesterday at ST., but this is below
the market, which is very firm. The out
siders, as those are called who are neither
brokers nor interested, do not seem to be
much affected by the recent low prices.
But this class are Of this disposition, when
the stock is going down they make in
quiries which are not Invested Of shade
OF anxiety, but when it rises they are
content, and will not sell. The rake has
been winnowing through the street for
some time during the spell of low prices,
but has failed to gather up any more than
few shares, compared with. the large
number that are subject to manipulation.
The law is quoted favorably by those who
know, and it is scarcely matter Of sur
prise that when II 900 shares were thrown
on the market when the contract was con-
summated, that there should be drop.
The change that has come over Pneu-
matte inspires no confidence, those who
would buy unloading on the slightest OPP
portunity. We have heard of no sales,
nor Of any new kink in the machinery
which has breathed into the torpid insti-
tuition this ftful breath Of life. Notwith-
standing there are seven secured patents
for the working Of this machine, the ad-
vantages Of IFS application do not appear.
Nor is it evident to the uninterested spec
tator that when applied to engines Or
street cars, this power is to be controlled
like steam, which, after all, is the giant
among powers, and one for which it is
impossible, as yet, to find substitute.
Such discussions are not foreign to the
subject when the value of the stock is
based on the pneumatic principle. We
hear Pneumatic quoted yesterday at 81,
81 25 and 81 50, but have not heard of
any sales made off hand, those negotiated
having been on the buyers option plan,
and others being ''shorts" seeking to
cover.
Gold ruled yesterday at 1929, and re-
manned at this point steadily in its tracks
and changed not. In New York the rate
is greater, being l1355, il consequence of
the signal payment of duties, which,
from all statistical presentations, ap-
pear greater than ever before, the arrivals
last week being ten per cent more than
any seven days Of any year. No one need
anticipate any change for the present in
the gold market, as the time for corners
appears to have waned. In this connec-
ton broker stated be had spent as high
as $1,000 to bring gold up to a certain
figure in former years., and had not lost
by it. But nowadays there is no such
inclination to put it up or to dabble in
anything but stocks, which nsonopolize
all financial ingenuity to be found on the
street.
Domestic exchange is possessed Of the
same steadiness, and the rate is yet pre-
MUM. There IS not any market here for
United States bonds.
In -four the market is still very dull
there is a lack Of activity and spirit in
the purchases, which are few, and in the
sales, that are small lots and far between.
In sugar there are no receipts-even
the driblets have stopped, and the sales
are confined to city dealers.
It seems as if produce stands still;
money remains like rock; cotton does
not come out; all waiting for the obening
of the season, when the absentees will
return, and when cash, frozen in the
GOODNESS of summer speculatiQns, shall
thaw out again and ''go about doing
good" " dead loads of all kinds Of pro-
duce, flour, bacon and corn have arrived,
warehouses are crammed with them,
seeking market. True, much Of this
will have to remain unbonored until the
sale of the new crop sets money adrift
like saw logs at high water, to find out
some +" bank" But the quantities that
are already selling according to orders
show that even before the height of the
season there is at least semblance Of
trade before the substance.