Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1866-01-30
FINANCIAL.

The money market yesterday was unusually
dull and quiet for the opening OF the week, and
the general expectations OF the Brokers, on
saturday 20 the contrary were not realized,
especially as regards Exchange, as will be seen
below.
In fact the money market throughout the
country seems greatly exercised in reference to
tba fate ~ the bfuo Of the Secretary OF the Treas
urv now before the Committee on Ways and
Means. and In view OF that fact and the sntici-
mated result Of the same, received by telegraph
a few DAYS since, we give the following re-
marks the New York Tribune OF Wednesday
SECRETARY McCulloch's bill. now before the
WAYS and Means COMMITTEES In Congress, Is r
matter ofereat interest in the street, and accord
ing 10 the rumors the market is up or down. If
The Secretary meets with objections, up goes
the market: 1.-THE Committee seems 10 favorit,
down goes the price Of Gold and Fancy Stocks
We argue from this that Wall street furnishes
good reasons for giving the Secretary a falr
chance TO contend against the influences Of
specuiation. II Wall street is afraid 10 have
Secretary MeCuIIoch negotiate a foreign loan,
because Gold may decline and Stocks may TALL,
IL is a very good argument in favor Of the pas
sage OF this bill, because il is a proof that such
a power against the Gold spectators is for the
NA ~ 49,"
II is OF but little consequence so far as the spec
Native tide is concerned, whether the seereta-
rvs bill is modified or not, and ii should have
no influence against the conservative feeling
which now prevails against Oyertrading and
sneculation. We have but little doubt that
Congress will sustain the Secretary substantially
in all practicable measures to bring the country
nearer to a Specie basis, and whether this can
he accomplished speedily or not, We have no
doubt that prudent business men will look for
ward to that event and shape their business
matters accordingly.
Exchange.
Yesterday was unusually quiet with little OF
none Offering, and the anticipated advanceofA
having failed TO be realized, only had a ten
deney TO keep 1t out of the market. We con-
tinue % quote New York Sight buying 4 OF,
and selling at par, and Sight checks on New
orleans buying at par, and selling at a pre-.
MUM. the market closing dull and inactive.
Gold and silver.
In this market very little was done, as the
holders continue TO evince a disposition to
await an expected advance, rather than accept
the present rates. We therefore quote Gold
buying 81, and selling rates 81. Silver 50 TO 80
and selling AZ IS and 80, the latter being an out
side figure, which can only be realized for large
denominations.
Currency. |
Currency is plentiful and qaite easy, and our
are fully prepared Tor an anticipated in
crease of the demand.
Government Stocks
No demand for this class Of Paper, 1875, with
accrued interest, are held at 90.
city Scrip.
Is virtually Withdrawn from the market, as
there il no demand for Il.
Uncurrent Funds.
There was considerable increase in the de-
mand for the notes Of Southern Banks, yester-
day, especially those Of Virginia and the interior
Of Alabama, and we heard of a sale of
$4,000 OF the notes OF the Bank OF Chattanooga,
at ~.