Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1866-01-28
FINANCIAL.


AT the beginning Of the week the money
market was excited, and considerable activity
prevailed during the day on Monday and Tues
day, but on Wednesday the market was deci-
dedly fiat and dull, which continued to the
hour OF closing on yesterday afternoon. Not
withstanding the fact that the arrival of a
steamer at New York on Friday gave a steadier
feeling to the Cotton market, which was MAIN
tanned throughout the day yesterday, there was
no corresponding fselingin the general market,
especially in Specie, although there was a
somewhat better feeling existing in the demand
for New York sight Bills. And his feeling viii
doubtless continue until the bugbear Of the
new Finance Bill is finally settled by Congress,
when apprehensions will in all probability die
out, and speculation resume a more cOnhden
tone, especially in the East, but ir the South
the market depends solely upon the Cotton
crop, Of which the Eastern capitalists seem to
believe there's an almost inexhaustible supply,
while our merchants, realizing the scarcity OF
the staple, continue 10 hold it with a view to
better prices, ouly dribbling it out as the state
Of their Bank accounts demands, and hence the
present stagnation.
Exchange.
As we have stated above, the better feeling in
the Cotton market has had a corresponding
effect upon Northern Sight Checks, which At
the close OF the market yesterday had an up
ward tendency, but the market closed at former
quotations. Many of the Brokers surmise
that it will advance at least a Oh the open
ing of the market tomorrow, but this to d" say
the least OF it, is extremely problematical, - as
Micawber would say,
Gold and Silver.
There was little or no demand for Specie yes
terday, notwithstanding the reported advance
on Gold in New York Of =, and we continue
our quotations, Gold buying I57 and selling l39.
silver was buying at 80 and selling at So.
Currency.
There Is probably an easier feeling in Cur
reney, caused by the maturity Of heavy Time
Bills on New York and Boston, but it has failed
to improve the disposition on the part OF our
Bankers to accommodate.
Government Stocks.
There was no inquiry for Government stocks
at the counters yesterday, We continue to
quote 7.5O's, with the interest added, at 81 and 80.
Uneurrent Funds.
In this market there was nothing done, but
the former quotations are maintained.
The st. Louis Republican OF Thursday says:
Gold quiet and steady. The opening price in
New FORK to-day was 1888 advancing to 1879,
Z NnQ CLOSING 1N AeHa.
Dealers here paid 1884,. and sold at 1891
governments a fraction lower in New York
to-day, but no material change here. Bankers
buying old 52u's at l03k. and selling at IOSL p.
new issue selling at lu2, and buviug al Il.
1913 0Utins at aoA for large. and selling at 80.
l040's quiet and unchanged.
New York Exchange firm at par buving and
l-l6 premium selling.
Compound Interest notes a shade higher.
New Military bonds weak and lower Bank
ers buying at - and selling at S. Old dates re-
main unchanged.
QuaFtermasteFs checks in demand at Il dis
city Qu-artermasters vouchers buying at 3 to
5 discount.
The money market quite stringent, but first
class Paper can be readily sold at 10 to y dis
count.
The New York hSsr1id Of the sd says;
The money msrket continues EXTREMITY easy
at . per cent, with exceptions at 8 and for call
Loans. The demand from the stock Exchange
IS stnl light, but there is a moderate pressure for
Discounts. First-class commercial Paper is Ren-
orally taken at pei. cent, but exceptions are
reported a bH2 Good but not very well known
names submit to sale per cent, and fnferior
Signatures pass at Hf5. The Bank statement
for the week shows an increase OF four and a
half million in Loans, but this is in part Rc-
counted for by the addition Of the Third Ma
tional Bank 70 the list, without which he
The .depdsis have harhIhaifS fneTsased more
than q million, but Il we allow for the Bank
referred 70 they have decreased. 1t is noticea-
bic, however that the East River and the Mer-
chants and Manufacturers Banks made no re-
port this week, and the statement merely copies
the figures OF their previous returns. These
imperfections are sufficient to destroy the use
fitness of the statement as a whole. There is
no important decrease n Legal Tenders but
the enect or western drafts Is slightly indica-
ted in the hgUres The ratherlsrge decrease OF
more than a million and a half in Lhe Specie
line is mainly attributable TO Withdrawals for
the payment OF custom duties. The s-atsl1ent,
50 tsE g ! soef {, rot gn4ayorsblei but the
drain westward has evidently been large
enough during the week to cGunteract the ef
I feet OF the Wen6lur5 OF DurTengV from OfhRr mar
ters- While money remains 50 much a drug as
= at present. however, the Bank statement is
a thermometer wn..c-s.. e bat little consulted.
1t the West the money market, although less
severely stringent than It was q week ago, Is
stil reported close. At Cincinnati on Satur-
day, there was considerable preesure for Loans,
and white Rw houses were able 20 increase their
Discount lines most of were con-
tract Exchange en- New NeFk vas heavy at
the CLOSEUP the day AZ 50 cents discount buying
and par selling. There is nothing IN this, how
ever, to Justify the expectation OF anything bat
an easy money market at this center for q con-
siderable length of time to come. The West is
indebted TO the East, and western balances
here are not heavy enough 70 make their with
drawal a matter or any moment. Ihe Balance
in the Sub-Treasury this afternoon was SIS,
so, and the Banks have more money than they
can legitimately use,
We clp TIE fo4oRins frol tn Chicago ri
bune OF Thursday;
The Secretary Of the Treasury, in a report
no1pcsd tbst ne tofsi Smo5n n tuaayy last srs an,
tOnnage before the war, might be stated in
round numbers al 5,000,0ol and that "9l0,46
tons have actually disappeared from cur lists
for all causes; sOygG tons transferred to foreign
owners, and ll0,l63 tons destroyed by pirates"
Some idea may be formed from this Of the
amount Of injury inflicted by the Confederate
cruizers. The Secretary has not much Sympa-
thy for those who forfeited the privileges Of the
1 American nag In a Tine o. DANGER. He sx-
presses the opinion that the transfer, in many
cases, 10 IS believed fictitious or fraudulent, OF
american hotIoms q 2 t9gSsgn lag, has been a
rates OF Insurance. aud 10 avoid the risks OF cap
TURF" The owners Of q large portion OF the
AOiu0J tons, which were AominRlly transferred
TO foreign countries during our terrific struggle,
are now claiming rCadmissiOn 70 the benefits of
American registry. He is unwilling " TO advise
in their hayor any relaxation Of the rigor Of the
law