New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-01-28
ON CARONDELET STREET,

OF course the rainy weather prevents all
outdoor business-it requires 40 ghost to
come from the grave to tell us that-and
acted somewhat as a check on indoor trans
actions, inasmuch as the usual hurrying
about hunting up the essentials to every
business had to be dispensed with. Those
parties who had cash 10 spare and who
bought up city securities when they were
down, are now beginning to get the benefit
of their foresight and reap the profits.
Especially is this the case in what are
known as the new tens" which sell now
at 81 cents. where but few weeks ago they
were worth but 50. The history of the
famous rise III city certificates by which
they were sold at profit of y cents on the
dollar, is already we'll known. and hand
some profits ON other city securities realized
after little patience, are also the topic of
the corners. In the run of city bonds they
are SO well propped up by ordinances
which counter on ordinance, SO well
founded i'll securing clauses and defended
by interest, that it is not apparent why they
are not worth more, unless it arises from
a lack of confidence in political futures
which can have but little to do in a detoria-
ton OF their value, as by law they are pro-
tected from legislative repeal. For long
time cloud hung over tie street. The ice
of inactivity bound in its chains all the cur
rents of the business of handling money.
Those who were among the easily i'm
pressed attributed this Indifference to a
torewarning of disaster. As announced on
several occasions this was bat temporary
embarrassment and not decentralization
1t was produced by scarcity, not lack of
money, the great, the only Archimedian
lever which moves the world abeing en-
ployed in the country moving cotton
hither. Soon as the drain outwards set
back and money gravitated to its source
capitalists soon found opportunities for in
vestment III securities, and the demand
steadily increasing to a rapid pulsation, the
securities appreciated, and will continue to
rise until the summer elimination. The
movement in all kinds of city obligations
has been upward.
The usual business of Saturday consists
of demands made by contractors for ready
cash to pay off hands, in which scrip of all
kinds, even bills and accounts, are pawned.
Cash was obtained at easy rates.
1t is source of congrat ulation that the
tone of business is healthy; that the paint
and gewgaws which have tricked up fancy
stocks into scmblance of the real flesh
and blood has all been rubbed off in the
late dram OF money into the country, and
that serious obstacles stand in tie way Of
this kind of stuff ever again forming the
food of speculation. All the fancies have
The promises with which
they were bloated have all been punctured. |
and those that had skeleton underneath |
speedily found it, while those that could |
not boast of such thing swiftly melted |
down into a grease spot. 1t is better that |
such material should forever die away.
brokers ought not to be found
parties to tshy transactions which promise |
ten dollars for the investment of one, when
in truth, II the buy r ever gets the original
dollar back he is lucky. SO susceptible are
brokers. as class, that scarcely one can be
pointed out who has not lost thousands of
dollars, III the long run, for pinning his
faith to this kind among the varieties of
lumbug; and the Board could not do better
han Furnishing these tlimsies as they do
special officers among the police-';drop
hem from the rolls"
Mexican Gulf stock is now pronounced
among the invalids, having been on the