Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1867-09-18
FINANCIAL AND COMMERCIAL
OFFICE OF THE DAILY APPEAL,l
Mr.rnura EnnEamhar Is IaE-

MESfPHTs, September Is, 1857.
The opposition in some political quar-
tiers to the amnesty proclamation OF
President johnson had the effect Of run
ming gold up doing the week until it
reached I46 in New York. Another
fruitful source of anxiety in the money
market, saws an exchange, Is due TO the
spprehendad financial difficulties grow
ing out OF q possible panic about the ma
tionsl banks. The failure OF a few Insti-
tutions here and there has revived the
general impression Of the instability Of
the system, and led to some fear that
more trouble will be experienced from
the same source. There is nothing in
the difficulties thus far reported TO war
rant such a conclusion In the case Of
the First National bank OF Kingston,
the trouble is less with the bank than
with its president. If we are correctly
informed, the greater part OF the lndebt-
edness unproyided for is personal and
not official. The president, j. H. Has
brouck, was in the habit of borrowing on
bis own personal responsibility United
States bonds, and perhaps other secuTi-
ties TO be negotiated and accounted for
after his return to Kingston. 1t Is said
that large amounts, some two OF three
uUuuAEu Nuuu6Guu AOAAaAo III all gAE
taken BY him from small capitalists liv-
ing in OF near 10 the place of his resi-
dence, upon deposit in his own name,
for which the bank is not liable. The
loss of the institution is thus narrowed
down TO q small figure, and it will con-
tinue in business with mistaken credit.
There is nothing in al this to diseredit
national banks ss such, and those wri-
tiers who are seeking to foster a feeling of
distrust against these Institutions are
sowing the seeds OF 3 harvest which
bring only evil to all concerned.
Money in this market is not plentiful,
that is, except to a favored few it is
equally S difficult to get q discount as
ever but there are some names whose
endorsement is never sighted and in
many instances are sought after. De-
posits sre better than during the past
few months, and the commercial week
has closed with 8 better feeling all round.
Gold opened in New York to-day at
At. It advanced to AZ by IL O'Clock,
and continued steady at the latter figure
until l pm. The closing rate will be
found in cur news column. The offer
ings here were fair and the buying rate
the day was steady, 422 to 43c.
In a few instances At was paid for round
lots.
Silver is very scarce. A few lots run
ming from SO 10 500 are occasionally
offered and taken at 50 to 3Se.
Rates Of exchange are uniform and
Eastern sight Is sold at to
premium. The demand is not active.
City scrip grows in favor daily. The
demand to day was fair. Dealers buy st
50 to SIC, and are selling at IS to 54e.
County warrants are dull and nominal.
Dealers would sooner sell than buy. In
fact few wish to hold more than they
have on hand. The nominal buying
rate is SIC. Selling at 20 TO re.
There is some inquiry for police scrip,
but little offered TO dealers. Buying at
Soc, selling at 81 to S5c.
The only transaction reported ia secu-
was one lot Of $4,000 compound
notes Of 1856, which were taken
at STA
Stocks and bonds are nominal Is quo
ted below.