New Orleans Republican., 1871-09-17
ON CARONDELET STREET.

The chief topic of conversation on the
street yesterday was the present attitude
of the Levee company, which is one of
inaction, the Governor having assured a
committee Of planters that unless the
company showed some sign Of vitality he
would suspend its privileges and invite
the Legislature to repeal it. But this in
teligence had no effect on the stock,
which remained, OF was inclined to stick,
at Fridays figures. Weheard Of no sales
to form a basis Of quotations, though
there is an opinion that the paper is worth
81 at the lowest. sale Of 100 shares at
Sc so was reported as fact, but the belief
seemed general that this transaction was
catching a dy.' Those who are the
loudest to pronounce the stock worthless
are the first to buy. and rather than lose
sale, will even give above the market rate
What does this mean?
In Pneumatic stock there was not the
slightest movement, and no sales heard
Of. The worth of the stock seems to be
s6 a share. Having mentioned Pneu-
matte and Levee, all of the stocks at
present taking up the attention are men
toned
The rain which fell for several hours
yesterday effectually prevented all out
door business, while the Jewish New Year
holiday withdrawing many Of the most
active members from the street to the
churches, united with the other influence
to create distressing dullness.
The money market exhibited nc ma
terial change. Gold was quoted at 49,
to 1l3s, lower by &c than the Wall street
rate. Sales were made of $4,000 at 113ss,
and of other amounts within this price,
showing the course Of gold to be higher
in the scale.
Warrants of the State 60 begging for
purchasers, and consequently are at a
low rate, for the best of them can be
obtained at 50@514 and 51l053. At
least one hundred thousand dollars Of
these State securities could have been
bought on Friday at this rate, and, unless
a corner is made up, ring is formed or
q combination similar to the recent "gold
conspiracy of New York is decided, or
unless a pool drawing in the whole
street is concluded, the probability seems
to be the warrants will 60 still lower
than at present. The street talk is that
some one is bearing the warrants to
prepare for realization.
The letters and scraps of intelligence on
the coming crop pour in on all sides, it is
noticed, before the producer is seen on
the street, while his bales are on the levee.
By the time loads of thousands come in
no more will be heard of disastrous crop
accounts, as it is then the merchants in
terest to buy it and to run down its price.
In all this the producer gets the worst of
it. If he holds back his cotton he gets
''cussed' for being pig-headed and foolish.
if he sends it in the somebody who must
scan his balance sheet can not make s.cost
and come to- even. There has been the
last week no snap to the demand for cot
ton, it having pursued IAN even tenor"
The advices from Liverpool, favorable
to an advance, produced no display of
cotton for sale. Offerings were scant.
The stock on hand is low, and hence the
market closed with the most leaden con-
dltlon. The past week is simply link in
that chain which binds US to the past
and is lull portion of that period of
transition between the old and new season
which is undergone every year. Gotten
is in an undetermined state. Receipts ar.
rive slowly. The ordinary business of
weighing, sampling, storing and pressing
is at standstill The market is like a
patient without pulse-everything in good
order but the circulation. That receipts
are very slow is easily seen when the land
ing OF three hundred and eighty-two bales
was heralded as phenomenal For every
condition Of things there is always some
thing to be done, and the thing to be
done now is lengthy reconnoiter-
lngs for information, extensive pick
eting, that news may not come
IN unawares while the army of those in
terested in cotton quietly remain slum-
bering until 'the bridegroom cometh.
Prices have been full. Sales have been re-
stricted. Factors, entrenched by every
1nAA A.