New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-09-27
ON CARONDELET STREET.

new hope breaks in on cotton oper;.
tors in the pronounced decline in price
here OF &c. As all such changes are
followed by other alterations, there is
strong suspicion that the decline may be
more, and then to buy while low gives q
margin for profit. Is or not this decline
permanent: Is it not the forerunner of a
changed opinion about the coming crop?
The supplies give more opportunity for
buyers, who are timid and refractory
cam l going to buy at nineteen cents.
when l shall not be able in fifteen days to
sell out at sixteen" This was the an
sxer OF a buyer to the temptation Of buy
ing three hundred bales at this price.
This timidity is owing to the uncertainty
OF cotton reports, upon which no one
would bet The tide Of awful reports of
vermicular destruction wells up every
day, but always telling the same story.
This cotton trade has but one side and
that is the dark one at present, of course
taking many reports at liberal discount
in view of the fact that short crops in
huence prices. A better demand pre-
vailed yesterday and more inquiries were
made. Sales were on the increase over
last week. Factors evince better dispo-
sition to meet the demand.
The money market shows no special
or interesting features. The gold business
is quite slow, as We are not so far adj
vanced in the science Of docking up"
and similar movements as the city of
Gotham. Opening at 11sl@ ia, the sales
were few and the demand intermittent.
The rate soon became nominal, yet with
an inclination to rise, closing dull day
at 113S, $1,000 selling even at ia, the
New York rate being lax 114I.
The stream Of remittances shows no
eddy in its current: premium is the
usual rate. The sale of s25, 900 sight on
Boston is reported at per cent discount.
AS predicted in this column that ster-
ling figures would soon change from 1913
to l24 premium, $4,000 sold yesterday at
the latter figure.
Metropolitan certificates are the chief
article that floats On the market, the hold
ers unfortunately being men whose neces-
sites compel them to dispose of their
paper, which is now selling at s1O So.
Yesterday over 1900 shares of Levee
were sold rs follows: % shares at Sc 49,;
200 and 800 at So Is; $50, $50 and 100 at
Sc 37a, and 40 at Sc so. So large a
number of shares having been sold, nat
urally produced quite a change, and, for
a while, the street was puzzled. There is
faith pinned to the skirts of the Levee
company, whose movements are shrouded
in mystery. There is report that the
engineer has not any intention of coming
South as long as reports of fever, if not the
fever itself, fill the air: and until this en-
gineer arrives, little or nothing can be
done by the company, who announce,
their intention to 90 to
work on the first Of October. But 'hope
deferred maketh the heart SICK" and
holders of stock are discouraged.
As the grinding season is now APP
preaching by rapid marches, sugar begins
to loom up as an object of future spec
ulation, the essence Of which movement
is of course the coming crop. The new
will soon be under the shed, and indeed it
is about time. as supplies Of the old are
very near exhausted.
The export interest in flour grows
arguid- scarcely giving signs of life.
The local demand is good The stock
being held under limit, few sales showing
he state of the market are reported. The
supply consists for the greater part of
,hoice extra. Sales were made Yesterday
If about 1000 barrels
The levee is reawakening, and shows
igns of its former great activity. Sup
'lies arrive continuously and business is
making itself manifest.