New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-10-15
ON CARONDELET STREET.

| Tie week has been eventual, though dull
Not until Saturday could j, be said tina. all
appreiens!oos AMI consequences Of the
Chicago fire. il commercial results, wen,
out. having, in Their allotted time, only add.
ed to the stsi0gency Of money. which pco
duced sales Of all fancy stocks and Of other
paper. uoler the shelter of which cash lad
formerly been placed.
| Tie decline a1d fall Of Wa.erwo1ks
| stock became another feature Of Tie stree.
| transactions for tie past six days. The de-
| cision Of the Eighth District Court. so anx-
| iously anticipated as means Of throwing
light upon and iIfusing strength into the
Waterworks law i, the effort TO promul gaze
which the former Secretary of State rose
ceigned. and Went under, decision for the
appearance of which all the stockholders so
anxiously looked, only destroyed every
hope Of a rise. and clinched the downfall Of
the paper. Theme it may be said it disap-
peared from the street, and now can be
called newshoy stock, inasmuch as few
nicke!s, judiciously invested, II; ght purchase
thousand dollars Of it.
Bank stocks appeared during the week,
and were sold at prices which showed 10
decline in these securities. Shortly after
the declaration of dividend, shares of the
City railroad sold at the price Of 81 Z,
while Fertilizer claimed and obtained
portion Of financial attention, and, in short.
the anticipations of panic in all stocks
has 40. been realized, and those who calcu-
lated upon it, and who got rid of paper and
turned it into cash with the object Of in
vestmer:. reck oned without their host, and
will be forced into the disagreeable neces-
sity of lending it out on commercial paper.
for instance, at the small rate of say three
per cent a month. Slaughterhouse stock
declined during the week at least five dol
lars a share, though it may at any time
long. The prevalence Of suits in court.
judgments contrary to expectation, doubt
full misgivings concerning the future.
brorgh. about an inclination to offer the
stock For sale a large number of shares at
time. when of course there was a CORE
spending Gi,ninution Of strength in the
disposition TO buy. But holders dispose of
fancies before they cut loose from the
more solid stocks, and in these one sees the
week in grand descent through the trap.
Like Harlequin, it had bounded up in en-.
thus;astic leaps, but at the close went down
below the skies. 1t being good time to
hear il. owing TO the demand for currency.
the street lad been full Of bears for the
past three days. and fully three hundred
shares were sacrificed below the market
with the purpose CT breaking down conf
dence in the paper. But in many OF these
sales there is no actual delivery, simply
word passed, so there is no ticking when or
not q sale has taken place. the custom Ct
merchants and capitalists who have stock 10
buy being to give orders to a broker. who
acts as agent. 1t is not a matter Of sur
Prise that 10 such orders have been received
This week and the sales have been. until
yesterday, sparse, and the current OF trans
actions staguaIt. A grand breaking up re-
suited in the following sales Of Levee stock:
One hundred shares at Sc 50; 100 at IS -;
900 At Sc: so at Sc ]217: 200 at IS Is; 100 at
S. ;lh: 800 at IS 81 y; 100 Of the last re-
sold at S. 50. The stockholders who sold
ont were those whose faith had been weak
and fell an easy prey to bears.
CITY appropriation certificates has been
going OF at less rate than just, owing to
the recent pressure, and as it is impossible
TO say.when another stream will be rushed
on the street so it is hard to fix time when
thew will improve. The low rates offered |
for warrants have caused an almost abso-
Int withdrawal of these State securities |
from the market. Bought during the week,
the demand being weak, the price has fol |
lowed suit. A movement is predicted in |
Mexican Gulf, and shares we're offered dur
ing the last three days. Yesterday 10 |
ha res, with drainage attached, sold at !