Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1865-12-02
FINANCIAL.
OFFICE MEMPHIS DAILY APPEAL
December =, 1915. ]

December =. 1850.
On Change.
The Chamber Of Commerce, OF Memphis, isa
once lis honorable symbol, and its badge Of re
proach. It's institution was the legitimate in
si,nium Of its industrial statue, while its per
sistent neglect Offers an opprobiOus common
ta-y on the policy which shapes the CONNER
cial conduct OF the city. The intelligence
which prompted It's Inauguration, and which
promised 10 auspiciously for its future growth
is remorselesSy beled, I'm the general and ener
Eefc omission to foster its Development
A Chamber OF Commerce bears 10 the mer
camille community in wsich Il exists relations
strongly analogous with those which a bank O
discount and loan sustaius 10 the reciprocal
| nnternfties Of borrowers and lenders. In In,
/ latter, we recognize a common agency, upon
tie greea baizs Of which, as on a neutral ter
Htory. the desires Of active capital, and tht
/ necessities OF industry. meet formutual debate
A pregnant committee Of ways and means is
thus inaugurated, in which wants and re-
sources are respectively evoked, and all tn,
problems Of practical finance fnd a prompt
resolution.
AChamber Of Commerce appeals 10 our APP.
proval, with similar. imperative considerations
It is clearly the true theater for the inter,
change of commercial thought There, if un-
der tho actuation Of a large and philosophic
policy. the merchants Of the city would assem-
bic in daily congress-, and l~egislate for thai
common prosperity, which after an, must On
yelop the questions Of individual success, ana
municipal greatness.
The obvious functions OF such an institution,
are. 70 enconomize time, and elicit the immense
advantages. which collective wisdom and asso-
ciated purpose. maintain over individual sa-
gacity and merely personal enterprise. Brought
face 20 face. I'm this common rendezvous, the
work of day, would be Transmitted into The
smooth transaction of an hour, and all the par
taI rays Of information, CLEANED by isolated
effort. would Doe collected into a bsnencent TO-
Gus. from which would radiate o constant, gen
eral and reliable Light.
such considerations as these, so fragrant 20
tae casual eye, and 30 despouc In their injunc-
tons. would reasonably be thought strong
enough TO prescribe the action Of Memphis
merchants. And yet, how dejectedly beret OF
practical authority do they appear- Day after
day, the Chamber Of Commerce sets its portals
Hospitality and entreatingly aar, and day after
day, its Departing Secretary records peggarlN
account OF empty benches" Absorbed in the
narrow monopoly OF exclusive and personal
ambition. our merchants seem deaf TO the PIE
sfLlNLllur OF AAal NAlA lAFAtAHAh NNAN "a I'm
mercial economy, which subordinates individ-
aIeT0rt, by encomp8ssiug, enlarging and more
mIIy assuring its ultimate muiuon.
Hence. although preferred IN an entirely
amlcabIe lrume Of mind, it is respectfully, but
explicitly announced, that these suggestions
are TO be accepted in the nature Of an indig-
nant protest
There is no appreciate variation IN rates
from Yesterdays tariff. Sight Checks upon
New York. New Orleans and other domestic
cities continue 10 go OF at &c discount buying,
and the same, premium, selling. There is even
less activity Of market than was manifested on
Yesterday. The same demand utters itself but
is discouraged by a more reluctant movement
Of response.
Time Bills maintsin the appreciated figures
which they have acquired, and have lost none
Of their yesterday IS activity. Five-dsy Bills ON
New York and New Orleans are promptly dis
counted at per cent; Ten and fifteen bay
Bills al per cent; and Thirty-day Bills at
per cent.
A dominion OF remarkable dulluess rules al
present over the world OF commercial paper.
In Southern markets, it is generally the Of
spring Of Cotton, and s~oidentlhed In sympathy
with its paternity, that any influence which
actuaies Cotton, reacts with undated -vlg0T
upon its sensitive progeny. Hence, 1t conforms
10 the valltudinaran aspect Of the Cotton
market, and only reveals itself in a Hfeles'
way, in very small transactions The quota.
lions do not vary from yesterday. T~en-deys
paper is received AT y per cent; ~hneen-days al
(. and thirty days at / per cent discount
city Scrip.
Sustains Itself In the whole OF yesterday
activity, with the same rates Of discounts
buying, and Soc selling. A single operation wa
reported al 9,lgc, bat This was an exceptions
/ instance. designed % subserve a specific pur
pose. and not, therefore, to be taken as accu
rately indicating the market.
G-overnmen stocks.
Little or no movement occurs here in IN,
Natisna Securities Seven-thlrty Bonds ohere'
about the only basis on which II displays itself
In these, small operations take place, at mon
b51z 70 ~ and sc, but rarely at the last name,
figure.
The rates Of Coin, and It's general activity
offer no new feature for remark Very eonsid
erabie amounts are offered to-day, but the,
meet with 8 relaxed and inadequate demand
We continue 70 quote buying At g7zc, an
Uncurrent Funds.
The QrowInp confidence In Southern Money
remarked upon in yesterday paper, receive
additional confirmation from to-day's quota
tone. In several Of the Banks Of Tennesses
/ Alabama and south Carolina, and in W. bank
Of Georgia and one Of Louisiana, a marked ad
vance viii be observed Oh the buying rates q
Yesterday. The following amended table fi
nlshes the exact statement OF the ruin
market: