Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1867-05-18
FINANCIAL.
OFFICE OF THE DAILY APPEAL,

MEMPtilSs may IL ioofs ,
There is no feature of interest to re-
mort in local finances. Gold opened IN
New York at 37kc, it declined TO 5o4c ont
again rallied, closing at the opening rate.
In this market il was steady throughout
the day at 95 to 354c buying.
Silver is buying at q to 2se. Selling
at % to SOC.
count warrants are firm and higher.
Buying at SIS to Soc. Selling az 81 to y c
CITY scrip is dull at 55 and 5Gc buying.
Selling at 81 to 5Sc.
Police scrip is in fair demand 81 foc
buying. Selling at soc.
Exchange is bought at to of for
eastern sight, and selling at par to pre-
MUM. Regular customers Gao, how
ever, buy at better rates. Exchange on
New Orleans is taken at discount and
selling at par to premium.
There has been no transactions III
bonds to report. We quote nominal as
follows; Memphis and Ohio rail
road bonds, 10 to zoe. Memphis and
Little Rock first mortgage bonds, no
sale: Memphis and Charleston railrsad
bonds. 65 TO zoe; Tennessee bonds,
with coupons, % TO zoe; Tennessee
bonds. new, 65 to zoe; Mobile and
Ohio railroad bonds, no sale; Memphis
eitv . 55 to 57ci Memphis city
railroad stock, soc.
We have to report an upward move
ment in Bank of Tennessee money. In
other banks the market Is /
TENNESSEE BAERs.
Bank Of -Chattanoogal9 Merchants Bank ~
" Middle Tenn9 Planters 81
" Ten. old is'se-& southern ~
" W. Tenn.---50 S~helbyyille $50
rsA- MI Nn1hvfffA 10 Traders ~
Commercial Bank-par Union ~
A called meeting Of the creditors of
the defunct Frankling Insurance COM
pan took place yesterday afternoon at
the chamber of commerce. Col. Young
was called to the chair, and DIR.
Wilkinson was appointed secretary.
The committee appointed at =
former meeting, made re-
port, in which they placed the good
or tangible assets Of the company at
| Sl20OO0, and the liabilities at something
over 5000. 900. Considerable discussion
arose as to the best means of realizing on
the assets, aud several modes sug-
gested, all of which had advocates.
It was proposed 10 let the
bank go into bankruptcy; which was
objected to on account of the delay and
/ the probability that very little would be
left to divide among the creditors. II
was suggested that the chancellor should
appoint a receiver, bat the project found
little favor. Another proposition was
made that the assets should be sold, as il
was stated that q party was willing Il
purchase at q fair valuation. The major
ity, however. were In favor Of Tesuscitat
ing the bank, and to that effect the follow.
ing resolution was adopted;
IL Mt aa-@aHHaA 20 Mhwns
be and are hereby appointed 70 solici
subscriptions, with a view to revivln!
and re-establishing the Franklin In
surance and Banking company, and tn.
said committee be instructed 90 Obtain
the consent of creditors who hav
attached, to allow the sheriff 10 coilec
such notes ard checks in the bank g.
have matured and are maturing.
II aCds further ResOlred, That tn
committee be constituted q general eX
ecutive committee for the stakeholder
of said bank.
The attendance of all creditors of tn
company is solicited st the next meet
ing, which will be called by the com
mittee, and at which final action will b
taken. On motion, the meeting ad
journed.
A revenue commissioner, David a
Wells, sails for Europe tomorrow, to In
vestigate the condition of msnufactuTin
in England and Belgium and the Eng
lish method Of colleetiss revenue b
stamps, the method of supervising di:
tilleries, etc. He hopes to return b.
September, and will make a full repol
to congress. 1t is understood that Gal
field and Allison, of the committee 0
ways and means, will accompany Nj
Wells.
In future postage upon all letters 70
whatever destination exchanged wit
Great Britain, will advance by a singl
rate for each half ounce or fraction ia
same as upon domestic letters.
1t appears that in proportion to he
population Philadelphia has fewer bank
than either New York, B0stOnSRrOv
dence, Pittsburg or Baltimore: Ne
York has thirteen banks, with 81 ,000,0l
capital each, four with $500. 900, or
with 81, 500. 900, five with $1,000, 00i
three with s., 900. 600, Il with 81, 0 o 00t
two with 5000, 600, and n with SO
600, 900. Boston has twenty banks wit
, 81, coo, 900 capital each, two with 81, 500
600. three with $4,000, 600, and one wit
s. 900, 900. But Philadelphia, the secon
CITY of the union, has only five cOmpary
!. lively large banks, three Of which haV
81, 600. 600 capital each, one has 81 500
900, and another s., O00, 00o. This stat
ment does not include state banks,
which latter New York city has twelv
with an aggregate of S9,292 500 capita.
Providence thirteen, with s., $50. 200 caI
ital Pittsburg one, with 81, l43, 500 cap
tai, and Baltimore six, with s., $3.50
capital; all in addition TO the nations
banks.
The president Of tue City Nstioni
bank Of New Orleans which was al
nounced as having suspended, has col
tradicted the report by a dispatch to =
Louis. He says:
"There has been arun on all the banl
here but we are all right and can pa
all our deposits"