Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1859-02-06
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Nrw YoKK iron .he Herald 81 rebsuasy2 ~
money here q 10 change 60 note AH1e cai teams vim
very few e~1cepnons are nov sts "a nj many bankers
aniidp1te q rpccdy rise to6. uisdausifui n any rapei
ishslnr done a. lW Is 5. win ne ez1rri1u af q few
pieces strictly nistotza and a. rsry shar dates 3 81
D. teosmiug the general rate fur the best paper, and74a
far lover rades. The foreign exchsnre markrf b very
drrl. with a Moderate business. B1nkrfs are asting inet
alook Tor sieriing, and5 iSh Or franu uthw appcafs
tht n71s ~ the uew ban Is E1ng sbrsad.
ut evident that ne stock market l. passiug mrq1gh
r1lttrr crisis. The decline vhica commenced Yesterday
thonrn W we're Only q The be<inning o. M 9oguward
move m n Usually happens that sudh a drclne in
ftoh hrinss IN fresh buyers from ne outside publiei %
such thllg b. noutaking place 81 far 4. can ue aF
uincd from The commission BROKERS ard ecnerai puhhe
rumoIs no share Of stock has been taken ~ ouille,
since ne dcaiue oummcu1rd.
s. fr a. raiirusd ssosEs we're Concerned. ne opernuou
o. IT, crisis q io7 va arrested midF1yb ~ a pleinefa
o. moury. ne dsy the banks s~uEpendud sflcEa BEGIN b.
March. 1851. a. uhieh time ne Central sod atefh Euo
Hsl Rex Island az O. and cher ssett - oauopnAnz
realization on he part ~ the heaviest a ne operatoTt
for ths rise. ssoks ieli thea Hon $40 81 IN me
ouurse q afrW week., but mere, asa Eeleral rule -
dealine stopped. Instead q falling q their intrnsic
valuc-namely. that which The public 81 lar-e unl ave
deuq by the operations q speculaora We o@e ,ngi
anuihsr, houshi large amounts q u-lr1aa secuunfa
borrowed money On them d nominal rates q in.srea
and huprd % eel them eui a. a Hrudtto " ne puhlic"
ms operaaoo has been repeated several tines sinoo
March, 1855 In every insiancc Il haa failed. 20 no ~
rbe ssgcity d q ne pubIc" has dsfestet uo proiecs
o. ban speculstors, 10 oouid not prevent tlsir ~purchases
~pr1ducns their natural Effect un NJ stosk market The
parties who, one after anofher, have tuiicd ne mar
ket since Marchs 1853, probably made no money hutthey
luooerdcd IN mainiainiug prices much Bearer The cKtraF-
sEanf rates Of Mnch, 1888, than ne depresed fgures %
SEPTEMBER, 1877. IN q word. they succeeded d. arrest
ms The Work q liquidation whieh uoumeuc1d ln 49,,
and even 10 sume extent iu reversing ne uhoos1me
iereiug process Ehich was oocasoned D. ne dasferscf
that year. They we're enahied % % this b. The cLean-
ness q money. Il would seen % foncs that ne arsi
symptoms II q dear money market shoud undo he work
which cheap moEry enabled them b pcrturm. and should
force siocks back n where they were before ne specula-
tive movement u last winter ard befcre ne 2 cent
money maEkct q 1865. 10 b. Fasihie Aat se are neV
WITNESSING he dTst symptom 20 this msvcmeut Ger
taluly. the leadiug railroads ~ ne oumuy are "a in al
sod a position nov, after a year Of miseras.e esuunEs
and neglected repairs, asthey we're mlH1f 10 would BE-
tt natural n TIE securities which Representatives be-
gao % decline toward the prices gnih serc current in
that mouih.
rcnuessee sixe. 1890. we're selling a o.
sroLEN NoTrs-ne Knoxville Register ~publishfs
Tho f7ll0uinG
BRANcH BkSE or TrNEEssEE
Knoxville. January g. 1859.
ME- EnIr0R. Ihave just learned that 100 sheets "
ne genuine imrressions frcd TIM o. III hrsnch q fen
ncsce. were stolen frum the Branch q Hagersrli-
these uould make only $500. Thare 20 hesltaflon inssy-
InE that the President o. ne Bank a Tennessee VIII or
der al The Brnnchcs % redeem he spurious notes, and
take them out q Circulation, 20 that The pclple 20 whoa
ne snail notes are q U-ai a1oummuiauun. may have en-
tire confidence 10 an TIE circuilfi1ncf TIE bank.
JOHN a CnOLIEH.