New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-04-28

The business in cotton has settled into a
uniform durlness, and yesterday, probably
for the first time this season, the discour-
aging advices that chronicled . decline
were counterbalanced by the New York
news, which told of an improvement. The
ordinary course Of information comes from
Liverpool, and, 90 to speak, the other links
in the commercial chain take their influence
from the greatest mart of the world. Yes
terday 1400 bales were sold. Rates I'M
changed. factors still manifesting an astrin-
gent temperament, which no news can
change. Inquiry for the staple was fair,
but the buyers were not met with the yield
ing disposition.
Levee stock, constituting as it does the
main chance in speculation, is still going
upward, the preferred having been sold at
30 IS ESQ reported), but the number and
character of the sales are kept secret.
City tens are approaching, being now
valued at 90c. 1t is reported $4,000 were
yesterday sold ut Gle. The rise is attributed
by some parties to the effect of the city
funding bill becoming law.
City certificates partake of the general
advance in city securities, owing to the
came cause, and are registered at 790S2,
being worth three per cent more than on
the day before. Metropolitan certificates
obligate the same figures. Whether these
will continue to improve or not, the doctors
differ, which is their privilege. But we
know of heavy purchases made by those
who had speculation in their eyes.
The movement, if the impulse to purchase
gold can be 80 called, still continues. 1t
must be had to meet the customs dues on
imports, and it appears the New York mar
ket is affected precisely similar to our own,
showing that the occasion is simultaneous.
All intelligence shows we are now in the
midst of one Of those periodical jumps in
which gold slowly ascends, as it has done
here, from 10 to 1915 012% within few
days, and when it comes to the last notch it
goes dOwn-sudden.
Money stiffens slightly as the end Of the
month comes nearer, but the banks are
yielding accommodation demands, and the
hard features will soon melt away.
We noticed yesterday the shipment of a
cargo Of over $4,000 bushels of corn in
bulk to Cork. We also omitted to mention
the fact that there was q transaction of
$4,000 bushels of corn at si1ty-one cents per
bushel. In these items there are few rays
of hope, but not many grdins of profit for
New Orleans. Al yet the business has been
confined almost entirely to outside parties.
St. Louis is said to be the centre which fur
nishes the capital and cereal for the trade.
If small amount of the surplus: capital
which now seeks an outlet in the way of
waterworks, paving, race course, and SINH
lar jobs, were invested in the grain trade,
it would contribute little toward tighten
ing the load which we are now carry ing,
instead of attempting to augment it. Be-
fore we will ever do much ourselves, the
banks of this city must view the paper of
the grain merchant in as favorable light
as that of the cotton buyer. In fact, if
some of our cotton factors were to combine
the business Of grain and cotton, they would
probably strike upon that happy medium
which would furnish them business for
nearly the entire year.