Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1867-05-21


tendency. Brokers are at variance II
their views concerning it. Some offeI
to sell at SO to soc, while others buy 3
that rate, and sell at 81 TO 5Se. We d.
| not believe more than $40 could be real
ised for it tomorrow at the counter.
Police scrip Is dull at zoe buying
Selling at IS to SOC.
County scrip is in active demand a
| SIC buying. Selling at 80 to 92c.
Exchange Is In excess of the demand
Eastern sight buying at to off, anC
selling at to premium. New Orleans
buying at discount, and selling at par
Bonds are duh. The only sale reported
was one lot Of $1,000 of Memphis
and Charleston railroad bonds al
zoe, Other bonds and stocks nomin2
as follows: Memphis and Ohio rail
road bonds, IS 10 20c. Memphis anC
Little Rock first mortgage bonds, nj
sale; Memphis and Charleston rail
read bonds, zoe; Tennessee bonds
with oupons, IS TO zoe; Tennessee
bonds, new, IS to roc; Mobile and
Ohio railroad bends, no sale; Memphis
city coupons, IS to 57c; Memphis city
railroad stock, 30c.
We have to report an upward move
ment in Bank Of Tennessee money. In
other banks the market is dull.
TENNEssEE N
Bank OF ChatsanoogalU Merchants Bank 81
~ Memphis par Ocoee --.Ii
81 Middle TennN Planters' 81
- Ten old is'se. 81 Southern II
- W. Tenn.-.-O S~heIbyville " -.-Sl
CITY Blk Nashvtle---5O Traders " 81
Commercial Bank-pnr Union -..9l
The Bank Of England was ineorpoTa-
ted, 1894, in consideration OF the capital,
/ 81. 200 900, being lent to the government
at s per cent. When first established
( the bank notes were ut % per cent. dis
count, and as late as 1854 they were un-
der psr.
The supreme court has virtually deci-
ded Texas to be ga state in the union"
bv granting an Injunction TO restrain the
payment of certain Texas bonds, to the
parties to whom it is alleged they were
sold during the war, by parties in armed
hostility to the United States, who had
seized the archives Of the treasury and
the property OF the state:
The supreme court at Washington on
the 18th inst. rendered decisions sustain
ing the legal tender act. A mercantile
firm in Washington claimed to have
made a special deposit in gold with
Riggs & Co, bankers, prior to the passage
of the legal tender act. Subsequent to
IL passage, the defendants declined to
Dav an kind,n bus made a tender OF
treasury notes, which the plaintiffs re-
fused 10 accept, and brought their action
to compel the payment IN gold. la order
TO show on the trial a special contract to
nav In gold, evidence was offered of an
arrangement made generally In the Dis
trict OF Columbia, where the action was
brought between depositors and other
bankers at the time gold commenced RS
inc 10 Z pceIniuIa by which deposits
were to be paid Gin kind,n This evil
dence was excluded, and the legal tender
act being held constitutional, Judgment
was given for the defendants, and the
case was appealed. Justice Clifford
read the opinion of the court, affirming
the Judgment below holding that the
evidence offered vas properly excluded,
as the Judgment below was that the legal
tender act was constitutional. This
affirmation is equivalent to . direct find
ing in the case by the supreme court to
that effect although the question is not
Diseased further than to say that the de-
pusit was payable in legal money Of the
United States, meaning thereby treasury
notes, which were rendered by the de-
PENDANTS.
The treasury department reports the
amount OF SECURITIES deposited Dy the
national banks for circulating notes,
$40, GAL ,450 securities held for deposits
Of public moneys, S3S, 500, $50. National
bank currency issued, SO, 900 amount
In actual circulation, S296, S69, 924 frae-
tional currency redeemed, SAY $50; re-
eeipts of internal revenue for the week,
81, 573, 429. Total TO date for the fiscal
year, So, 752,47l.
A number Of revenue officers have
been accused of swindling transactions,
and attempts have been made TO effect
their removal. But the president hesi-
tates for he rightly enough says, If he
aGcedes to the opportunities which call
for the removal, he will be accused of
violating the tenure of Office act. This
is one among the effects Of congressional
interference with the rights of the exec
Utive. The action of congress makes il
unsafe to put a bad man out of ONCE.