Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1857-11-25
From the n. Y. Eeening Pct ., Aonday.l


The advance in stocks continues with in
creased activity. The msrketto-day exhibited
greater animation than at any previous time
since the panic, and the sales were very large.
We hear, also, OF large operations outside Of
the stock board.
There is nothing particularly new to note in
the money market. Money is plenty, but rates
are not percepdbiy lowered. Great caution Is
still exercised.
Bank and State stocks are the favorites.
Missouri's showed the principal advance.
The rise in Reading Is due to the newly an
nounced financial arrangement.
The cash sales show that a large amount Of
money is seeking investment.
The sales Of State stocks and bonds amount
to SI39 900.
Contrary to the general expectation, the
banks last week contracted their discounts more
than s60O.O00-the decline being on the part
Of the Bank Of Commerce S5lS GOO, New York
$4,000, Merchants STA 600, Bank Of AmeIi-
ca SIlS,O00, National $4,000, Bank State Of
New York SOS 900. Nearly all the others ex-
hibit a liberal Increase Of loans.
We understand that replies have been ~Teceiv-
ed from about one hundred and fifty banks. ex-
pressing their concurrence IL the action Of the
Clearing House Association in regard to re-
I demption. 90 far, there have been no nbjec-
tiou on the part OF any bank, speaking for
itself bet some have expressed doubts as TO
the ability Of other banks to comply with the
reeuisition.
The footings OF The bank statement for this
week, as compared with The preceding, are as
follows;
Loans and Dis Specie. Cireas,ioH. Deposits
Nov. T.. ss5s ss,2 I sis 4s7, 30 IS ga sI2 sss, "a TIs
Nv Il. 52ssA al IS 45I sSs s.2bs S62 7~A,5s7.sis
Decrease. ss3s sst sr15,sso
s5s,si4 ss T8T 81
The average amount Of specie in the banks
is greater than for any previous week since
the weekly statement was commenced IN Au-
gust, 1853. Tbs following viii show the lsrg-
est weekly average in each year since;
Date. Avsroge Of Specie.
f653-N0g esl s2I
t655-July 10 20 sos
ln5-Feb lf,4Ss $50
iS9-Snhez y so
post, the cash reserve Of our city banks is now
a5olt thirty million dollars.
IN movement for the repeal OF the usury
laws is daily gaining strength, and the concur
renee Of the country banks Is all that is want
ing to secure The necessary legislation for that
purpose iuring the coming winter. The effect
OF The repeal % these laws would be OF meal
eulable benefit &c New York, and it is proper
that tue commercial metropolis Of the country
sho1id initiate 50 important a step 10 financial
matters. There could hardly be a better time
than the present for comparing the workings Of
our crude, ill-iigested and unfair - stem, with
the enlightened and well regulated policy Of
England. The sooner we do away with the
idea that the most important article Of mer-
sbaadise shall not be subject 70 the established
laws Of trade, uRencumbeTed by restrictive
7 leeislative e~nactments, the better for our BUSH
ness. and the legs we shall be liable to these
disastrous fuctustions which have prevailed
during the past year.
far STRENGTH OF TIE MoENoSs.-Ths
Sacramento Ags thus speaks fthe actual power
Of the M0rmOns:
A. he order Of their leaders and prophetthsy
raR muster 1900 men, armed with the most
effective instruments Of destruction They
have many thousands Of the hnest horses,
trained 10 camp service they have at0undefy
where cannon and she'll are cast q powder
mill and factory, where revolving rifles and
pistols are manufactured, equal 10 those made
al Hartford. They have every munition OF
var. aud necessary provision aud means OF
transportation within themselves, and even the
worneu and children are instructed in the use
Of arms.
Add to their geographical position. To
reach salt Lake from the east Il is necessary
to pass through a canon OF twenty-five miles
under hills so steep and rocky that a dozen
men could burI down an avalanche Of stones
on an approaching caravan; snd even IN The
event OF several thousand troops reaching the
valley, the b~esieged, with heir herds, would
take to the mountains, and reinforced by theiI
savage allies, would in turn, bessige their be-
ssigeTs, and cut Of supplies until The invaders
had starved out.
SLAVE ExcIrEMEKr.-1hers has been an
other fugitive slave excitement IN Ohio. Two
runaxsys, wbo had escaped from Mr.. Jewett, Of
Tennessee, were arrested at a hotel In Clevs-
land on Monday. On their way 20 Cincinnati,
when at Carlisle station, one of the negroes
I got of. and would not 20 on the train again.