Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1860-10-12
New York

We coy ire following from ne New York Herald o,
Ocsbsr 8:
Uatii Yesterday and he prsvio1s Afternoon me none
market was setive al last week. Il pretty ni rates.
various minor CClrrences created E1ma faurrrfrv IN
easiness among lend rs and fgr tEo Or three days + Eas
quite dimsult 4 b1rr0g AZ the rates previously cgrr@rt
tAnNIl
ne supplies rather IN excess = the demand. AZ The fol-
losiug Quoiatlous Gail loans cal Fct-, short drst elias
paper eAeI long psper tstricfly arst eaal 76Ik. fair
% good PAPER ses, names rot generally known iuai2,
etc TIE fears Of . tight money market misn u app~ar
% have been generally dispeiled By thc actual curse u
cFe-ts The banks have bow curiaiied SIX millions q
dohar- IN o. many weeks, and yet m-ney Is Just ls alum
dant As it vas. ne specie reserve has run Gown %
what promises t9s y it, lowest point for the season. the
one time ezpect-d, show . marked decrease. Neither
Ia the commercial nor the financial world are there anv
sreh evidences o. expsnaion visible as wuuid BE- hkeIT
20 create a uoaetary crisis some people anticipate IN
creased inquily fer money a the close Of the month. ln
o1nsequence q the award q the Few g1v@rnment foan-
SO coz. 0e q which are 10 be distributed 90 the 90 tn-
staat. Il must Be borne tn mind, however. that uoueo o.
The aEarca0 Of g0rernmert leans which we have uifra@-
e within the past two OF three years have had the effect
q oouvuising the market. The resson Is very simple.
The g-Vernment does not borroE until b. requires the
money; as fast a. u is received 10 l. disbursed. . . .
he eaIly recipe o. cotton, togeiher with ne crop
Movement IN the west, appesr % BE- reducing the n1 4
deposits Al an unusually rapid rate. . . Tae Tan
importing trade Is nov nearly over, aud we are safe in
saying that The tables q the years imports 40 M port
vii show a move moderate and cunserVafire ~ vemeur
than that 4 1883. On the cher hand. the foreign de-
maid for American produce does ut SHAKEN. and the er-
parts q prodnee continue u1usuaHy large. d D. pretty
certain nov that New York viii expor, IN 1850. more
produce and merchandise han was ever shipped fr-m
tins port before IN a single year. ne foreign exchange
naEet gave way altlgether last Werk. 10 The clase the
best bankers bius were offered 81 i09E fr sterling. and
o-lsk for frame HiEher rates than thess we're asked
D sush HOT. - IS Msssrs. Belmont and Browns but
city bills Of Undivided character, aud southern bank
bills with city endorsement. we're I'D 81 The rates We
mention. The decline vas Due partly 20 The sIackened
inquiry from Importers, Who hsve paid mp their debt %
Europe earlier than usual, and partly % thelarEe am1unt
o. produce and cotton bills which are comirg on the mar
kst a. low rates. Bankers are buying excellent mercau-
tile bills At los SGSi and can make more money b ssu-
ing their swn eK-hange At t0sE, ard covering with these
m%eresutile bills. than they did, a. a general rule. this
summer BY shipDiEz specie. Al this date last year rr-
change on i1ntou Eas one cent higher thal 90 nov o.. and
We were shipping three times as mach sold a. We row
80 much difference Is oaused By the increased ship
msuts q produce, and the diminished imports o. foreign
EauI4