Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1867-12-22
FINANCIAL AND COMMERCIAL.

FINANCIAL AND COMMERCIAL.
oFFICE OF THE DAILY APPEAL.l
AENPHIs, December p, ls57.
There was a fair amount Of exchange offered
al our banks to-day, and currency Is scarce
The supply viii be ample on Monday or Tues
day, as e is not probable that the coming
week win be one Of much activity In the cotton
msrEet. Rates are unchanged At some banks,
bus others are making concessions 70 DnyeFso o.
bot IS taken at = 70 lo discount selling A. Pal.
sod opened in New York to-day al 1873 ana
lel immediasely' A. noon a. H@S IeSogSII6 0Is
presented today, and dealers bought al lsAg
Isle. The cOunter demand was better snW
olfove the counter al 1881, and 500 at 1850.
silver is moi offered exceptin trivial
RAINING from s. TO So Dealers buy al E5gl24e,
city scrip IS quiet. Dealers are generally wen
SIC. GALES among brokers during the day were
Conntv warrants are not in demand, except
IN a small way. Large warrants are dun at go
CSC buying; selling a~t6Sg7Oo as 70 size.
Police scrip il In good demand, but some
lower. The buying T ,te,is Sac; selling at Sc.
The affairs OF the First National rank \
or eansare being wound No very slowly. The
Commercial Bulletin says.
me Hon Charles case has spent the last
six months" 10 q day In winding MP the az
fairs OF this institution. His stay In New Or
leaus does not seem 70 have been 80 pleasant
as the duties OF his position NIGHT have made
-TaaI within the time specified his city has
been VISITED with an epidemic which prostfated
over fly thousand OF ia citizens, exted tenn
pOrsruy an equel number, and consigned over
tbree thousand 70 tnsir final rest"
This prepares Us 70 learn
THAT within that time I have rot been able
70 settle precisely the liabilities oIfne insttuu-
ton OF collect assets amounting nomtnaly %
over two millions OF dollars Some OF these
assets are not yet due, many others were past
due when the bank stopped, and VIII probably
remain 50 forever. Many more are In suit,
and are heing pushed 70 judgment and execu-
ton as rapidly as legal macnInsry vii. allow.
The Receiver explains That few OF the credi-
tors have proved their claims. and that be Will
United states, SO he says 70 his inquiring cor
re.pondeuts:
yeu, nor could the Controller when the ,divi-
deud may be expected"
To encourage them stin further, he refers TO
an alleged purpose of some creditors 10 sttach
in England certain funds belonging 10 the First
National Bank, and adds thai in such an
event he cannot consent, without q contest 10
give foreign creditors 50 great an advantage
over th0-ea "a. home. We may anticipate, there
fore, that the Hon. Receiver will spend seyersl
other seasons among Us, varying the enjoy
meut with an occasional summer excursion -
Liverpool and the Continent, 70 look after
those suits We are, moreover, told that there
are large sums-pr8ceeds Of sales OF c~otton-due
this bank 10 Liverpool.
We should ike to know something more
about the course or business OF this bank.
There has been always an impression that, in
stead OF c1nnnfng itself 10 The legtimate dutv
OF supplying it, capital 70 the business Of
Ide city. 10 engaged IN cotton speculation.
We do not meau that il discounted cotton
bills-for that wss strictly eglttalate-bu that
II became, like the bank Of the United States
Of Pennsylvania. q buyer and holder Of cotton.
We have no partisan motives 10 subserVe in
wishing % know sometnlng OF the causes
which exploded this bank IN the very begin
ming OF IL voyage. We think al Institutions
OF discount and deposit should be held strictly
20 The terms Of Their charter. II they Elblect
Their fugdg TO the accidents OF tue market, they
can render very little aid 10 their competitors
IN toe sam busin IS. We should like il the
R-csiver-suppresSisE all names-wOuld en-
tighten Us IS 10 the business Of this bank. DID
IL speculate in cotton, or was IL capital sunk
Ia ilegiIim4te entsrprIse2 This will be in
structive- When \ city ~solicits the introduce
lion OF banking caplzl, Il prefers that II should
be nsld sacred 70 discount and deposit, and not
employe co IN business competition. Let us
hear tue facts
The Liverpool cotton market was quiet at the
opening today; Uplands, ed; Orleans I'D.
A. nO0u the market was duI and had declined
l-l6i; Uplands, 75-I6d Orleans, : s-i6d; sales,
announced q quiet but firm market, with quo
Iauons unchanged. At noon II was inactive
and prices dropping, and Al the close wss dull
and 4c lower; Aiddling- l51ac; Orleans, 1870 (;
sales. 100 baHes. The weeks receipts az that
port were 1909 bales; ssIes, 1900 bales; ex-
ports, 1900; stock, $500 bales Receipts at all
ports in the United states, 10000 bales Tor the
week our markes was quiet throughout, and
sales not large. Buyers are winding up
their ~sffairs. PREPARATORY TO SHIPMENT
before the holidays set in ana we
may look for q light Transaction dur
ing the coming week There IS an active
demand Tor strict to Good Miduuugs, but they
are very scarce. The market closed weak.
Ordinary Il 8ub
GOOD y Gl2lS
Low E4Gl5
hiddllng Lat4glSH
stuct L4g!i
6OOo Asago
COTTON STATEMENT
Sink on Rand Sent / Ie57 1Osr
Received to-day -------.---..--..-- t,ol4
Received preyiOusly--lOA,s92 lG,406
1854
Exported to-day ..---.---......-- 8.4g7
Exported previOusly----.--- s4,l6 1852
STOCK on
Received this l2,is5
Exported this ISIS
The near approach Of the holidays has caused
some IN srease IN our trade, but the demand Is
confined 10 staple articles alone. TIE display
made by our merchants OF sucn articles as we've
thought % be absolutely indispensable az such
q season in yea 5 gone by, does not tempt tho
prudent farmer or housewife, while those who
would buy are TOO poor 70 Indulge in iuLures
Low prices have lost their influence over the
buyer VINO can barely meet the wants OF chill
Gr-n and servants in the way Of sustensncs
alone, nos speaking Of apparel and the thou
sand other Things which the planter, once upon
= time, was compelled 10 purchase al christ
mas The absence OF our regular packets, and
the continued embargo upoa navigation 70 ~.
Louis. together with the light stocks OF hand,
one Wuull suppose were eAluGlElL causes 10 al
vance prices, out they have not uone so 70 any
extent Our merchants are all anxious 10 sell.
They are determined 70 keep prices Al such a
figure as Will usufy the country merchant and
The planter 10 bay IN memphis. This is the
right policy, and should have been GdOpIed
months agU, before We lost much OF the trade
which now seeks other markets. This trade
can all be recovered. and We rejoice 70 see that
0uT merchants ave made An effoft 10 10 % NV
putting prices down 10 the lowest notch. The
corn market OF Memphis Is nos below that OF
any city on the river nom 81. Louis % New
orleans and buyers from the lstter place have
shipped literally 70 that market from here. On
the last up tup Of the Post Boy. she went into
Cairo with nearly sou sacks OF corn Tins looks
Ike carrying coais 70 NeWcasuei Out is one
OF the results brought about by the war, and IS
but the indication Of what is 10 come. We can
raIse corn cheaper and far more successfully IN
the South than in any Nor hern state and
now that cotton has ceased TO be our God, it is
10 be hOPod thai next year we can supply our
mp eouurry neignh1rs with meat and flour also.
a lew lots OF choice Corn IN new gunnies were
sold today at 5a9Jc, bat The demand was not
held In store. where Trey ak S5cGSl in a small
way. We could learn ONO Oats except in store;
holders ask s1aglc. Bran, n store, SG9&. Hay
is dull a. EF9bi IN lot, anC from 81 70 y higher
IN a local way. C-rn Meal is dull; a lot OF 81
bbls receiver from Hawesyu e, Kentucky. per
dray load klludried is held al * 1862; Nash
vile and country Meal. IS vel a. our city
brands, are offered Al q 50; ~unbolted, s. 3.
Mess PORK is very scarce. Itis held at s5 50 on
the landing and S24G2i s. in store. Pum
Mes, Gl9A; hump, SIsGI9. Clear sides are
NNNAECa AHEnAnA ely aAA AANNN are 0AA OF ANaI- ]
ket. except in a retail way. + few casks OF IT.
regular Meats were offered 81 49,, 15LEEaE !
Shoulder, l. L0lZia. bulk -idesl4h- bulk shOu = Z
ders, A9Al5zc hlD sides, lSal5tec. Plain Hams,
l57flec. Plain C~anvase1, i6gl7c. Plain 5. C., D
&a1c. p. JauYassed 10 d. ISg1lc. breakfast Z
Bacon, Erisc Laudyscarce and nrm: keg. ldEC.
uerce, I%48l4ci in small csddles, 1879. I
Navy Beaus, Sfef 3 India Bagging, 24g5Ci I
Machine, GaEc; Haud. lgG2Dc beeswzx, soc.
Choice Butterin demand al 5Ug Sc good 6e8sc;
cooking butter, 2GSc. Western Reserve /
Cheese, Bzal6c; r ~ Ealsc; Factory, lG5s0
Ic. CIDER per barrel, tlglZ Candies, light
weight, D84Jc. Cement, - 2g4 81. coffee, Rio, /
14dEC. Java, $50 l0c. Josl On, 6JG-. Eggs In ]
demaud and Scarce at Ea4jc. The Flour mar I
Ky, SI2sl8i Xxx, SIS 51Gal4; fancy
brands, sI4 Goals 50. Mackere1, No. ! /
kits q 1893; No = y 5Et2 %; Nos s. &a2 s. /
Grease, lose. Guunies, new, A45c; second
IN barrels; T8s7c In half barrels. Dry niut 4
Hides, lsc Dry salt, lGal7c; Green salt, salOc;
green, TIsc- Nails - 1891 rates onions. ]
scarce G6uB 90 Potatoes nrm A. 6 -5rs 3 per ]
per Eeg; half kegs, 81 - quarters. & p. Shot, /
= EE8 ~ PER- ack- Chickens scarce At |d5 81 1
per uoz- Turkeys, $500. Iron ties, ssgs.
Rope dull At eElUc Tor Machine mOdemRuu for
hand made Barrel salt is scarce a. s. J0a4 IS: I
szck hru atS Eg3 Sc; malL e lOE2 % TaIloW, ]
&C. Soda. SGl0c. Tar per dozen kegs, StaB 50.
whisky dull atsl baal IS for common. Sugar.
crushed and powdered ls9lsc. Uodee, lo1sG
I7i.r; brown, lf8l6r. Tobacco, fancy WORK 4
natural leaf 81 Iogl q bright pounds fancy,
smoking. fine and fancy, sIgl 50; common. S5a
sjc- whisky is dull - 81 z5a2 Tor common.
There Is DO special change 70 report In the
stock market Choice Western and Texas cat /
ferinr dull a. csc. Live hegs are sin Ecaroe.
while dressed hogs sell readily At EgI2Zc.
W-z.-I no,~-o HE-Ll