New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-09-14
LETTER FROM NEW YORK.
NEW YORK, September 9, 1873.


and gold, and the theory was instantly an
nounced that Jay Gould, the partner Of the
late Jim Fisk, had been the evil genius;
that he had attempted to run the price OF
coin so high as to produce another BLACK
Friday" taking advantage of the depres-
sion of the stock market to get IN his
"shorts," with which he was reported bur
dened upon half the stocks, and that he
was attempting to carry all the available
gold. To-day these reports were declared
bT the friends of Gould to De errors that
''he had quietly sold his long gold some
time ago, and had gone short at high prices
and succeeded in breaking down Stocks at
| the same time that he depressed coin" But
| the New York Tribune, in its money article
| this morning, thinks SIT is folly to decry
| the power that can so suddenly create such
| an excitement" as was witnessed yester-
| day, and attributes the decline in gold and
| stocks to ''the joint influence of the extra
| ordinary weakness of the associated banks,
| as exhibited in their last weekly statement,
the regular sutumnal demand for the cur
rency to go West, the diminished and
diminishing faith in Che management Of
corporate property in this country, the
uncertainty as to the condition Of the gov
ernment treasury and, perhaps, Jay Gould"
This biz Of comfort for Mr.. Gould in the
uted to the fact that that gentleman came
to the rescue of the present owners Of that
journal when its stock was about to fall into
other hands. The bulls of Wall styee,
are very confident and declare that the
market is on che eve Of an upward and
spirited speculation in stocks. Such is the
situation of the gold and stock gamblers.
The market" thus alluded 60 by she
gamblers aforesaid, has little reference to
the real healthy trade of the city. 1t WAS
never better than now. The city is
crowded with merchants from the South
and West, the hotels are overrun with
guests from those sections, and the great
wholesale houses were never doing better
or earlier fall business.
A delegation of gentlemen has been mere
during the past week representing the PRO
ducers of the West mostly from Illinois.
in consultation with some of our leading
capitalists, merchants and politicians, with
view OF obtaining legislative and pecu-
mary power to enable them to construct a
double track railroad between this city
and Chicago and, perhaps, to one or two
other points, on the Mississippi river. The
gentlemen thus representing the West are
experienced and inf luential business men
Lo- 80
labor 60 the work of developing the Re.
sources of Illinois, Indiana, iowa, Wiscon-
sin and other States They seem Sery
much in earnest about their business and
are saDguine of success Meantime. II is
evident that the old corporal fons How con
trolling the great lines ot raiiyoad between
the commercial ports OF the Eastern sea
board cities and the West reaiizs the situa.
ton and are preparing to meet il. Since
the Pennsylvania Central railroad obtained
an outlet through the State of New
Jersey, by che purchase Of ths Cam.
den and Amboy railroad. the freigh.
upon the lines Of the forney company
have more than doubled. It has
to such an sxtsn: that Cs!cne !
Scott, the vice president a1d general diree
tor Of that corporation, has salrsadyengased !
in the construction of anothey double/track |
through New Jersey. ani thas corporation
has already made purchase of large Sront. |
age on North river. Jersey Cry. and are in ]
the progress of the construction of ware. |
houses, freight and engine and other neces-
sary buildings thereon. Co The extent in I
of about $5,000.000o 1t is the !
intention of that company 20 meet the |
growing demands of the West, if enterprise
and the expenditure Of money will do it.
for these advance steps were
taken by Colonel Scott before be went to
Europe few months since. They have
not been retarded by his ABSENCE but the
most efficient energy has been manifested !
all along the proposed new line and in the
of the necessary docks and
houses at Jersey City. Before he lefs On
his present mission, which, by the way,
to benefit the whole Southern and
Pacific slope country, Colonel Scott assured
he people Of New Jersey, who seemed 20
hudder at the approach of The
1
heir SOIL tina: that eorporstion only
wanted fair right of fhe way to the deep !!
waters of the North river for the accommo-
Iation of the producers of the West; that
hey desired to share their proportion of
he burden of taxation wherever they be-
anne property holders, and in every Way
0 contribute to the advancement of the
Industries and wealth of the State of New
ersey. The New York and Erie railroad
re also enlarging their frontage at Jersey
ty and Hoboken, on the west side of the 6
le great North Tor Hudson) river, and con- {
ruct.ng additional tracks to facilitate | |
eightage from the West, the whole West | r
nd the Southwest. The efforts of these /
,wertul corporations to accommodate the /
roducers of the West, having the great t
Vantage of the possession Of lines, ex. v
erienced engineers and willing workmen +
forward and complete their proposed | a
lprovements and accomm odations, will @
nd to retard the enterprise of the West e
n CAPITALISTS who are now here presenting G
elr new proposition to our exporters and t
ippers. However, we shall see what we b
all see.
Since my last letter the annual meeting Of
g Southern Railroad Association took
ace in this city, and the old board of di y
ctors was unanimously reelected, and r
olOnel II. S. McComb was also unani-
ously reelected as president This is :,
emed but just compliment to Colonel -
cComb, whose energy and talent has been r r
yen in daualn,ainn ho of the "