Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1866-02-09

"a NV &AH H"H .t
rs appearance in the market here, whicl
though easily detected by experiences hands, 1
well calculated 10 mislead those whose toncl
is not good or eyesight quick TO detect spuTiou
notes. The Counterfeit alluded TO Is on th'
Twenty dollar notes Of the First National Banh
Of indianapolis. The general engraving is MOI
well executed, the stars around the head OF tbs
Goddess OF Liberty being much larger than
those In the original, and the paper is thickei
and heavier than the genuine. Our reader.
would do wel TO be on the look out for thess
notes, as some half dozen OF them were offered
at the Banks yesterday.
Money matters were rather quiet " uerday
except in Exchange, for which the demand is
undiminished, and throughout the day there
was no falling on IN the demand, though
there was but little offering, and the market
closed hrm ~ y premium selling, with a ten
dency 10 e. and unless there is a move IN the
Cottsn market soon, to relieve the drain on The
Banks here, caused by the heavy bills beeon-
ing due in the North for merchandise aud agri-
cultural implements, itmay yet reach y before
the end Of the present week.
Gold and silver.
There was very little activity In this market
yesterday, and rates are still unchanged. Gold
Is buying at IS and selling at % and 10. Silver
is buying at 50 and selling ats.
Currency.
Currency h stHH easy and the rates un
changed.
Bucurrent Funds.
This market was unusually dull yesterday,
and the only notes asked for were those Of the
Union Bank Of Tennessee which have advanced
70 q.
The New Loan BIZ.
The new Loan bills quite as broad as Mr-Mc-
TrHNn.h - - -
necessary 10 enable him 10 work back to Specie
payments. To fund the 1905, the Compound
notes, Legal Tenders, etc, bonds may be issued
I'VE quote the act OF March :, 1868, which is to
be extended:
PzV1bls at any period not more than 20 Years
J1ols Gdie Cf issue. or may be made reasonable
ct the pleasure OF the Government, at or after
any period not less than 5 years nor more than
40 years rom date, or may be made redeemable
and payable as aforesaid, as may be expressed
upon their face and 50 much thereof as may
De ISSUED IN treasury notes may be made con-
vernble into any bonds authorised by this act.
aud may be Of such enominations-no less
llan sH-and bear such dates and be made re-
eemabl or payable az such periods as In the
opinion OF the Secretary Of the Treasury may
be deemed eNpedfeBL. the interest on slcn /
bonds shall De payable seTui-aunualiy and on I
Treasury notes authorised by this act the inter
Isl may be made payable semi-annualy, or
Annually. or Al maturity thereof; and the prfn- 1
cipai, or interest, or both, may be made PAYABLE 1
in coin or other lawful money; provided that /
the rate OF interest Oh any EHFn E0ndE or Treas {
ury notes Wnen payable IN coin, shall not ex-
coed o per ceutunt per annum and when not /
payable in coin shall not exceed 7 $40 per cen
tuna per annum,"
The Loan bin is severely denounced by those
who during the late war were as viruIenti in cen
surfing the Government for using Legal Tenders
as they are now anxious 10 prevent the Treas
ury from putting them into funded debt
Exchange is more active, but rates are not ad-
vaHced. Best Banker Sterling sold at los.
though the drawers LominaIly quote l0sl IA
1854. We quote: Bankers Sterling, 90 days,
l67alO7l{i Bankers Sterling, days, 1857; Com
msrcial, los TO l0s5 Francs, long date, 5.25@
80; Francs, short date, 5Is4Q5I6A.
The business Of The Sub-Treasury was: Re
oeipts, sl,il4-26l; for Customs, sJS,0OO; Pay
ments, Eis,2l2 on account Of Loan, $1,000;
Balance, saS,gs2,5g7 81; Coin Certificates, s3u,
$40.
Freightsare dun; the engagements 90 London
go barrels Flour, at Is; to Glasgow per
1000 bushels Corn at sgd: a brig TO
Co~nstantinople with Bran at 4c.-Nsg York Tn
5uns, SrL
Other Markets.
The Philadelphia Inquirer of the End Gays:
The Money markets OF the world just now pre-
sent a rather anomalous condition. In Eng
and the rate Of interest has been increased TO
$ per cent. per aunum. In this city, New York
and Boston. Al0ne- on call is going herring 5or
borrowers AZ : per cent, while throughout the
West Money fSsearee. There is an eviIant nm
.easiuess on LIe part Of England at the growing
OF our Government bonds among
her people, and the efforts of the London Times
IRE 10 beget q disJrust OF them, and thereby to
meek the dow Of British capital into United
states Securities The present nigh rate OF in
crest tu England may for a time limit the in
in American Securities, but the fall
ug OF in the demand for them can only be
.enporary. This, however, is a matter Of but
-rihing Importance, as the stability Of our Ma
luHaE -aFu rifles does not uHUHnu in the sIlrnr- /
- degree upon Foreign investment.
Eight per cent Interest, IN Gold, in England,
s a very high price Tor Money, reduced 70 Cur 4
eucy valuation here, and may in time act upon
luf rates. ana VIII perhaps stimulate Gold eX-
JOrts. Ints latter result viii tend 70 advance
ne price Of coin. As Gold rises, Government ,
securities pay a higher rate OF interest in Cur j
ency 10 the home i~nvester, and the National {
take "a still higher rank as compared with
.ther stocks, not only on the ground Of safety, ?
lut OF productiyenes-.
There was a fair amount Of activity at the
'Jock Board to-day. and a general upward ten :
.ency in prices. The business was fairly dis
among the different Securities on the 1
Government Securities were more In demand I
nd stronger. Ihe august and June Seven !
dFaucei a old f1~Fe-twenties rose Is. I
The Chicago Tunes, OF the fifth, SAYS:
There are some signs OF returning ease in the a
81 sLJies lttke| 1he greater portion OF Il
be Banks 70 is true, SIN report a demand for u
t0ney iu excess of their ability TO supply, but n
few ofthem- on the contrary, report matters Q
Institutions should be more pressed than n
theirs; but the fact that some Of them find Il
themselves IN a more satisfactory condition Is =
that the general supply Of Currency is
n the increase.
Eastern Exchange is a triae hrner. though d
1mewh hat Irregular All the Banks are seiungi
G par, and some Of them are taking from Gus =
)mers al The same rate, and Others are shading b
1und lots aYL of percent.
American Gold Govt Bonds ri
NJ. 49, 1909 bus. IL lU9
1f.-----i5a lt50O 5-2s, '63.-----lS3
---...-- Igt5 Loo IO-i0s. large So "
U0 seller 2s.----l8J 1908 7-&s, August
issue, 1--l0O5s q
The Cincinnati Commercial Of h 9Th saws: L
There is only a moderate degree Of activity d
d tie Money market, and the drift OF business :
'eiuS 70 be again "a the direction OF an in j.
-suSe Of Currency, manifested, however, 50 nsr i
,eStly ina the Improvement Of country Bank
~
T-aUsactians In seven thirty notes continue v
3 active as even the receipts are short Of the 1
lies, and rates are higher. Some OF the dealers G.
-day bid 91c, Sllsc and g9Ao for the several
srirs, selling them at &c htzher.
t-tve-twentes are also ia better position. PIC
reniuEi Is in some eases bid for the last two -
the supply being less than the demand Z
Ae Old ISSUES are rated at Be premium buying. :
nd3lac premium selling. Ten-f0rties would be a
taken 1t 5lLqc. and ct this Agure BANK "
= are gIad 70 get tEeTu 70 hold. 81
The Third National Bank makes the follow {,
IS statement of the, average Of the leading r,
ems Of business for the month Of January: =
.verage amt Of Loans and Discounts $4,000 36 Ae
ALAtA W
o her Lawful Money 572.aG0 ~ y
DeposltS- ,..--i,2fs.228 80 q,
Circulation -.--..-.--. 1880 OO ."
Although a Government depository. the p
mount OF the average deposits to the credit OF
Ie Treasury have, we learn, been light. n
The New York CnuFge-ctdi AduertlssT FUR I,
n.ount OF Currency Of an kinds aaoat at the X
stss named r
Dec. 81. Jan. 81.
overnmt Legal Tenders 6l4,s0S.SH S0lZ,50g,65
otts OF National Banks 3z.5Tl.I55 2iS,73i.7g
oies OF state Banks testA- 50,000,0O0 50,00O,G3U G
r. - - B
$