New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-08-22
ON CARONDELET STREET.

operations yesterday This was an in
quiry for shares of Slaughterhouse at
S25 80, for which rate there were none to be
had. Not having an idea upon what basis
the demands were made or what new ele-
ment had appeared among the fogs of the
street, the subject is left where We took it
up. But there is some relief in quoting
something outside the usual tenor Of
operations.
OF course there was much talk about
Levee, which has not improved within the
last few days, the great developments "
in favor of the stock not coming out to
be seen. 1t is not too much to say that
all assertions concerning the doubtful
nature of the contract were pooh-poohed
by those who had stock in their pockets;
but on challenge for any disproof there
was none forthcoming. The question
boiled down is this: What causes you
to believe that the stock is good? The
contract" is the answer. What are the
stipulations? really don't know. Then
the catechism closes in a reply that the
stock is believed in because somebody
else believes in it. We must not
be understood as committing our
selves to either branch of this sub
ject. We give the views OF others
as We find them-of. those who are in
terested. 1t is natural to suppose there
is great weakness in the stock, for why
does it go down? We heard of no sales
yesterday. 1t was stated that the con-
tract had been signed, but that quarrel
had already arisen over the terms, only to
be settled in course of law, mandamus
and other such process. Whatever the
question upon which the disagreement
between Messrs. Scott and McComb on
the one hand and the stockholders on the
other is, the fact is apparent that it will
not be Strengthened out for some time.
Everything is now in state of suspense,
and the stock is tipping the wrong side of
the scales.
There was slight tip given Pneumatic,
which did not last long, as things got into
equilibrium at short notice.
In other stocks there is nothing to re-
port Somebody has remarked that a
plethora of cash is always attended by a
mania for stock companies, and the con-
sequent formation of stock for street pur-
poses. The papers of score or more of
companies are now flying about, caught up
and set down, and are now put away with
the ultimate intention of appearing again
when 'the good time cometn.
"What is A. B. stock WORTH" is the
query to bring out some of this paper.
''Just make me an offer, is the usual re-
ply, which is as much as to say sit goes
for nothing"
The manner in which great many of
these transactions are made is somewhat
like the Bourbons of Kentucky take drinks,
only one glass to the whole party, out Of
which each takes his nourishment, and
passes it to his neighbor. Soon as these
wild cat" stocks appear, it viii be our
pleasing duty to make them known.
Gold ruled at an advance of fve-eighths
on New York, which opened at 1927, and
closed at three-eigthths less than the
opening rate. The recent advance in gold
in New York attributed to the same old
cause imports, which drain the market
before the usual supplies come in. Dry
goods men are the great gold buyers, and
the recent arrivals in the great city tally
with the purchases of gold.
The provision market is fat. The
momentary impulse which foreign orders
for bulk meats, pork and -four gave to the
market has subsidized with the filing of the
behest, and at present everything in this
direction is dry, very dry.
As general thing the cotton market is
not demopstrative on Monday, never
showing or proclaiming much about itself
until later day of the week. The prices
have not altered since Saturday, and on
that day they were in favor neither of one
side nor the other, the ''unfavorable ad-
vices" casting damper on exuberant
hopes.
The whole field presents little to serve
as an omen of the future. Levee is
tripping down below So so. Pneumatic
Is inclined to be stiff at 81. Other stocks
are not quotable. There is no action. The
-four market is decidedly stale, falling
every day by the cents worth Meat is
also on the decline. Cotton sticks at
nothing; manipulations are forever chang
ing the complexion of its trade. Rents
are still at the same rate, with the single
exception of new cottages, which, prop
erty owners seeing the money in them,
are rapidly building and renting. Domes-
tic exchange, following gold, presents
yapid look and shows no sign ola change,