Lull in the blockade business at Charleston.
correspondent of the Mobile Tribune
tells that paper something about the blockade business there.
We give an extract.
Our readers will have their own opinion about the "beneficial effects of there enterprises:"
There is a lull in the great rage lately existing for the organization of new steamship companies.
The unbounded success of John Fraser
& Co., followed by the Importing and Exporting company, with the steamship Ella
and Annie, gave a great impetus to the enterprise of blockade running.
The two first houses, however, have had the cream of the business.
The shares of President Bee
's company (original value $1,000) sell at $10,000. Teat
will probably maintain its present standard.
Two fine steamboats belonging to them are now in port, the well known Ella and Annie and the beautiful steamer Orion
, lately arrived.
In addition to the above we have the Palmetto company, Atlantic company, Chicora
company, Lamars company, Calypso
company, and one or two others not yet made public.
While there is doubtless a great deal of wild gambling, the beneficial effects of these enterprises are beginning to be felt by the public.
Prices of goods are tumbling rapidly.
One speculator who has worked hard to keep the control of the retail market by the purchase of whole cargoes, has succumbed, and admits a loss on his two last purchases of over $75,000. The price of stock in the companies is also retrograding.
But the new enterprises will be kept up as the profits on cotton continue high, and are likely to remain so if they do not reach a higher figure.
The profits on a return cargo will also be sufficient to keep up the lines of steamers and make them a safe investment.