Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1866-02-01

There was considerable activity in the Money
market yesterday, especially rs regards Ex-
change on the Northern cities, tor which there
was a considerable demand, and at last there
is a prospect that those who have held on 10
their Gold for better prices may yet see their
hopes realized.
Judging from the tone of the news received
yesterday morning in reference TO the Forsfgn
Loan bill, We are led 10 believe that a new bill
WILDE drafted In lieu Of the one offered by the
secretary OF the Treasury, which we are in
formed viii do away with the objections Of the
Committee on WAYS and Means. to whom the
same was referred, and at the same time meet
the views OF the Secretary, all looking forward
TO a return 20 a Specie basis. The probable de
feat, however, of the original bill has had its
effect upon the New York markets, and while
Gold has gone up from to per cent, Govern
ment Stocks are reported " duh and inactive. 4"
Exchange.
The slight advance noted in our last report
has been fully maintained, and there was a
great deal more Exchange Offering yesterday
than at any time during the past ten days. We
quote New York Sight buying = OF, and selling
at premium.
The rates for New CLEANS Sight cheeks re
main unchanged with but little offering, buy
ing at par and selling at y premium.
Geld aud silver.
The news received from New York Of an ad-
vance, had a corresponding effect here, and dur
ing the day yesterday there was considerable
animation in the market, IS being paid forlarge
denominations Of Gold, and some was sold at
Al, but the prevailing rates for Mixed were 81
buying and 40 to 414 seiiing.
There was very little doing In Silver, and our
former quotations are unchanged, buying SO.
and selling 81.
Currency.
As there is but little doing in Cotton, Currency
remains easy, and for legitimate purposes there
is a sufhciency in the Banks, but not otherwise.
Government stocks.
There was considerable inquiry for 7.3O's yes
tenday, and one sale OF $4,000, with the interest
added, at 90, is reported, but the Inquiry had no
effect upon the market which closed at the
former rates, viz: buying q and 81 and selling
at ~.
Uneurrent Funds.
There was a good demand for Mississippi Cot
ton notes al the Banks yesterday, the prevailing
rates offered being 80, ami beyond this there
was little or nothing done in this market, and
no change In eur quotations.
Other Markets
The Chicago Tribune, in reviewing the market
OF the past week, says;
Business during the week has been generally
dull and very slow. There Is almost an entire
absence OF any speculative feeling in the gen
eral markets. and the mercantile trade is very
quiet. In Dry Goods there Is but little doinE.
except TO m Light country orders. The Boot
and shoe trade has been moderately active,
take the season all through, but at present
there is luH in the business which will not
probably give way till the spring trade opens.
In Groceries there Is rather more activity, and
stocks are being reduced quite materially. The
tendency of everything, however, Is downward,
and buyers are unwilling 70 lay In even mOder-
ately heavy stocks.
The Cincinnati ERquirar Of the 2sth says:
Business was rather quiet on the street TO-
day. Nothing has transpired since our last 70
change the general features Of the Discount
market. The applications for Loans are only
moderate, but checking is still heavy at most Of
the houses, and Currency Balances are running
low, which causes rather a close market, and
there is fully As much legitimate Paper Offering
as the Banks are able or willing 20 discount.
The leading rate OF Interest for nrst-class Sig
natures is 10 per cent, and good Commercial
Paper Is rated a. l29l5 per cent. There Is com
paratively little Paper OF a speculative charac-
Ter Offering, as this class 81 borrowers meet
with but little favor at the regular Discount
houses. Advices from the interior report Money
matters easy, but the country Banks are ia
most cases investing their surplus funds IN Gov
eminent Securities instead OF accumulating
Cold was without decided change IN New
York to-day. The dispatches reported IL spen-
ing at 1922. and closing al three o'clock At l3gs4.
There was only a moderate business transacted
In our Market Inc prevailing NAFAlE rate was
tSQ. though q shade higher was, in some in
stances, paid. II is coming forward very slowly,
and generally presented in small amounts.
Their i a fair counter demand, and the sales
are about equal 20 the receipts. Some pur-
chases were made, ON southern account, but
the Inquiry was mainly from importers, for the
PAYMENT OF duties. The sales were chiefly al
lSgbal8gs<, though 10 was obtained la several
cases for Gold Checks on New York.
New York stock Market.
NEW YORK, Jan. 2.-Stocks continue weak.
The market is strongly Besrishl and sellers OPP
lions are stfli put out very largely the side
operating fog Z fail make the best OF the pre-
vaiing weakness and hsnpWer tho market with
great perslstehcy Tbe'naafkeI g probably e
presenf more largely oyersold thah iOF some
months past ~ hrst board. 4 oanard was used
very successfully for depressing the Erie; 10 was
announced that several thousand shares or the
STOCK HAD been returned by the Java for per
emptory sale. The result was a decline OF 81
per cent al nrst call, with q subsequent recoV-
sis q "a ner cent. The report Is a pure fnven-
uouy Dut Hfaft u L2 ser cent. on the several
roads, Is chieny due 10 IA
o~oNefnlnens continue very dull. peDding
uncertainty respecting the action OF ne Wavs
aAac Errans COMMITTEES. A letter frnn, q usso-
Der or t.at tommittee states thar me- Co..
mittee VIII not report In fhvor 81 = Foreie,
Loan, and other features oLAfr. MrCniinc65s
bill viii be considerably nj lihed. TINS 4 re-.