Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1866-01-26
FINANCIAL.

The money market yesterday was decidedly
more active than at any time during the week,
with but little change In the former quotations.
The following from the Cincinnati Enquirer
will apply TO the market here:
The Discount market has exhibited no new
feature since our last. The demand for Loans
is not 50 pressing, but the offerings Of Paper are
still on a liberal scale. and the market is work
.ng rattle. close, though, as we stated in our
last, hrst-claSs borrowers experience but little
difficulty in negotiating Loans, the Banks be-
ing able to accommodate the bulk OF the legit-
innate Paper offering. outside parties meet
with but little favor al the regular Discount
houses. Rates OF Interest are firm at 10 per
cent. for st-clRSssignatures and l29l5 for good
Mercantile Paper. The street rates range nom
DBL to per cent. a month. There is compars-
lively little Paper Of a speculative character
Offering, as the Banks generally refuse II, and
this class OF borrowers In consequence Of the
difficulties experienced in negotiating Loans
have, In many cases, ceased making applica-
tons. There is a slight gain in Currency Bal
anees, but with most Of the houses st IS sim
working close"
The NORTH Bill.
The following extract from the New York
Herald Of the 18th, concerning this BIZ, is par
ucularly significant wheA taken IN connection
with the news received by telegraph yesterday,
10 The effect that the Bill mad been virtually
lost:
"The Stock market was firm at the early ses-
sion OF the open board this morning, but after
wards Il becsmes omewhat unsettled under con-
hicting rumors regarding the new Finance bill.
The Committee Of Ways and Means were
reported 10 have had another Interview with
the Secretary OF the Treasury, and TO have
stated that they would not object to the bill in
its present shape, If they could feel sure that he
would always be at the head Of the Treasury
Department. There is q strong objection to
that provision Of the bill authorizing the Secre-
tary TO create a foreign stock, the interest Of
which is to be payable in, and in the coin OF the
country where it is held and slth ugh it is
generally believed that he would be unable to
negotiate such a loan on advantageous terms,
however unlimited his authority might be, II
is nevertheless contended that the authority
would be dangerous, owing to the false hopes
and needless alarms 70 which It would give rise.
These would take the practical form OF spas
mode fluctuations OF market value, which,
while enriehing speeulatOrs. would impoveriSh
the people"
Exchange.
The demand for Northern Sight yesterday was
quite active, and at our former quotations, viz:
buying rates = of, and selling at par.
There was but little Exchange on New Or
leans Offering, as Il is evidently not 10 the in
terest Of the Bankers to do so. The rates, how
ever, are still continued, buylngat par and sell
ing at = premium.
Geld and silver.
There was considerable activity In the Gold
market Yesterday, and We heard OF the pur-
chase Of one lot Of $4,000, Mixed, at 81, and a
I ununbar n small 1ofe - 20 auN Al
In silver there was a slight Improvement the
prevailing rates being 50 buying and o. selling.
Governments stocks
Are rather duh and but little In demand. We
continue 70 quote 2 Sos, with accrued interest,
IS buying and selling at 70.
city Scrip.
The scarcity Of the City Paper In the market.
and the fact that certain organizations are
largely indebted TO It have had a tendency to
improve the value. We quote W buying. and
selling at IS, some $1,000 having been sold at
mat figure on Wednesday.
Uneurrent Funds.
This market was quite dull and had a down
ward tendency, and no sales Of consequence
are reported. Private advices from Baltimore
state that the market there is flooded. ana their
quotations are far below ours, particularly for
the Notes OF the South Carolina Banks. and the
same may be said Of all the Stock markets. as
the prices paid here are far in advance OF any
OF them.
Broken National BanIes.
The following letter from the Department
Comptroller speaks well for the condition OF the
National Banks
TREASURY DEPARTMENT.
OFFICE or I"OhRrRoLLER or THE CURRFNCy
WAsHISGToS, January s. IaA
Dear Sir Your letter Of the ID instant IA re-
celved. In reply 70 your request for a list ar
broken National Banks, 1 have TO inform Won
thas " The First National Bank Of Attic. n
s.. Is the only National Bank that has failed
lndef the National systslA. capital sO,GJ,
Banks ina the United States at par. and radeem-
able in lawful money upon presentation at the
Treasury OF the United States.
Very respectfully,
III. r. HULBURD, Dep. COMPTROLLER,
o. J.. Mckay, Esq, President Peoples National
Bank, Chariestoni {