Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1867-05-31
reat money. Brokers buy all that offers
at our Quotations.

AtNA ~ &Al III - N-eA A~rNe
at our quotations
rESNEssEE BANKS.
Bank Of C-hattanoogal0 Merchants Bank -a.9o
Mamphis par Ocoee 10
" Middle TennB Planters' 95
= ". Tenna~z1 s~heihye1Ila q SO
City Blk Nashvilie-.-m Traders 30
Commercial Bank-Dar Union --4s
The Western union telegraph COM
pany is levying a relentless war upon
such lines as attempt 10 compete with
them, IN hopes Of driving them TO the
wall. The managers Of that company
have stated hat hereafter they will not
purchase competing lines, except when
sold out under the a~uctioneer's hammer.
They have determined, by reduction Of
tolls below q living rate, 70 force all COM
peting lines into bankrupty. In pursu-
ance Of this policy they have reduced
the prices OF messages between the gold
boards Of New York and Boston 70 tif-
teen cents, and, Of course, the Franklin
and Insulated lines have followed their
lead. 1t Is not improbable that the con-
test may reduce the tolls for general
business between Boston and Washing
ton below ever the present rates. Not
w~ithstanding the b~eIiigerent attitude
assumed BY the Western union COM
pany, new lines are icing constructed
and others are projected, all Of which
will eventually be combined into q gene
raj system Of competing lines that will
give the present monopoly a pretty hard
tussle. The indications are that within
a year or two there will be a telegraphic
contest which viii exceed in bitterness
and determination any that has pre-
eeded it.
As showing the condition of the treas
ury it may be stated that between now
and the first Of next January there must
be paid sixty-eight millions of gold inter-
est, forty-six millions of currency inter
est, eight millions of gold loan Of 1917,
and eighty-six millions cOmpOun cd inter-
est notes, besides the current expenses Of
the government. To meet these de-
mands the secretary will have from in
ternaI revenue, say one hundred mill
lions miscellaneous receipts, five mil
lions; three per cent. authorized at the
last session Of congress, fifty millions,
and his cash balance of one hundred
millions. The secretary, as already
stated, anticipates no trouble in his de-
partment prior TO the time for the regu-
lar session OF congress.
Parku-an, the president of the Selma
bank who made his escape from that
city, and fer whose capture $500 was
offered as q reward, was retaken in
Wilcox county, Ala, and again placed
in prison. The telegraph announced his
subsequent escape and suicide. From
the Selma Times we take the following
particulars: he was lodged in the
county jail at Cahsbs, where be has re-
manned until yesterday evening about
sun set. At this hour the inmates of the
Jail were assembled in the hall when the
TAILOR entered. Upon the opening Of the
door, Parkman rushed out and made for
the Alabama river, about seventy-fve
yards distant. The jaiiOr fired st him
IS he ran, and soon afterward he was
seen to fall Recovering himself he ran
into the river and struck out as a swim-
mer. The steamer Gertrude was lying
about twenty yards below where he
entered, and his movements were dis
tinctly seen by a party of ladies and gen
tlemen aboard. He disappeared once or
twice while floating down to the boat,
and efforts were being made tOsave him.
Reaching the wheel OF the boat, which
was not in motion, he paused for 8 mo-
ment, stiied and exhausted, then sunk
under the boat and has not been
seen since. Every means are being
used to recover his remains. He leaves
a wife and two children overwhelmed
with the sad calamities of q few weeks,
and exciting the tenderest sympsthies Of
the entire community. A native Of
Selma, Mr.. Parkman's rapid success in
business, and his pleasant social quaIi-
ties, had won for him the kindly interest
of our best people. His errors in the
scenes of his bank, should, we
be attributed to his youth and am
bifiOD. and NET to auV mature
intentions concerning its affairs.