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


ON CARONDELET STREET.
significant bear movement commenced
in Levee stock yesterday morning, but sig
nally failed to accomplish any thing but q
rapid sale of al the stock put by the com
bination, II, indeed, these pr-chases were
not q "wash." A broker having directed an
agent to sell at quarter below the market
one hundred shares were soon caught up al
81 Is; one hundred at g. were offered, but
not token, going of at Is IS, when there
was an impression that the bealirg dow !,
had actually taken root, and that the stock
would soon be offered at anything above
IS. A hundred shares sold as low ~ IS 50,
when every one began to see the drift Of
such selfsacrifces, when the stock stjfened,
| leaving record Of tfree hradred shares
sold below the market, to the dead loss Of
the holders. The contract for the Bonnet
Care crevasse has closed, and operators in
Mississippi mud " III commence tbs week
The contract for Augustine is ESQ closed,
and the company is Vigorously moving
toward . complete levee system. 1t is usual.
" the case that bear is the forerr-ner of
. bril- movement, for an expected rise of
| stock is foreshadowed by des'-e to buy it,
and hence to conceal the real intent of the
purchase. Viewed IN this light, the bearing
| operation becomes Ineligible. But not q
single share was offered for sale by any but
very keen brokers, who sought profit in
the distant future.
| The stock market is in state Of mac
tivi..,. Shares of the Waterworks stock
which lately bodied up SO Unexpectedly,
are very little spoken of, aud not at all
sought. The decision of Judge Emerson in
the Bovee business, it is expected, vii
somehow cast value on th;s paper, but
this decision, for az the street knows, is the
same Is if never formed.
Pnermstic stock is fiat at Al 5Oo2, and
begging even at this low price. It is even
limited the present board Wy resign, a1d q
new orgac'zation begin throughout, with q
new engineer, the late official having given
! up. This may be talking down the stock,
but it is credited on the street.
Iuqr'-:es were made for Southeastern
railroad shares, as the company are moving
fol- ward in their works and pushing ahead.
But the disposition to buy in this direction
is not SO eager as it right be.
A few floating shares of other fancy stocks
now and then appear, but the details are
scarcely worth the mention.
In the money market, the sole topic of
conversation was the anticipated adva ice
in the rate OF the Bank of Englsnd 1.-THE fist
| fina acial institll on in the WORLDLY to SIX per
cent. The well known foresight of the au-
thor:t.es across the water led to an opinion
GA the street that the advance was but a
forerrnner Of q deeper 81. 'ngency II money.
God stood still! ut about HAS, several
sales having been made at this rate. But
there wss great disappointment felt here,
| q the course of the gold demand showed
that no docking up" corld be successful,
and hence all spirit in such specu!a..ons
died out. ~
State warrants are quoted very low, %
48. Sales have even been made at IS. A
whisper is ''softly stealing" that this is q
movement to buy end then to ''cover."
City appropriation certificates are lower
than the preceding week, too low for hold
ers to see.
It appears that cotton can not hold on to
it's own. A sudden decline in Liverpool of
an eighth of penny, and in our own mart
of one.quarter Of cent, rnder the prices OF
the last week, has again played hob with
the celebrations Of the wise among cotton
men. For this decline there are various
theories, and among these ne fuds the
supposition that it is the a5sE1gency of the
money market and the consequent diff
Guilty Of obtaining cash for cotton pur-
chases that has produced the fall in price
and the subsidi1g of the active inqr'ry
which bid fair few days ago to swallow
all the receipts. Yesterday the market was
unsettled, utItoward the close q precipitate
vas thrown down from this tumble
Of ve-y;ng elements, which left clear the
near future, and showed the decline
of price to be temporary. The necessity
which; requires cash to move the
crop, coupled with the moral effect OF .
prospective advance in the Bark OF Eng.
land rates, united to keep back the SPIT u
epcCul6l .Ou IL OuN CHCys " OCA~y S~
| ing and arrest the progress OF oPerauons
Tie offerings were good, though not IN
ereat quantities. Supplies are still scarce
Sales are few. About $50 bales, it - pre-.
sumed, were sold yesterday at dec'ne Of
quarter Of cent below Saturdays
| figures, and the price on the latter Gay was
| lust on the trrn down, the sales showing
| that buyers were cautious. fearing to PR
chase lest the nexa hours news might
spell out a loss, while factors we're equally
unwilling to pars with their earnings lest
the next hours information would show
they might have sold for more. There 10
scarcely any good midd'ng n the anna. mn,kn nn
20 cents. Strict middlsng is worth l9%
cents; low middlingr 10 0l9k cents; mid
! ding 1914 cents; good ordinary 1Ss cents;
| ordinary ISM q l64 cents, ana low ordinary
| 1875 o 6l4% cents. Tho recPhees are dumb
tin;reGnrd to the futnre. 3. 1ii'- af.'' e. ~.