Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1867-02-24
FIMANCIAL.
oFFlcE OF TIE pAILY APPEAL

OFFICE OF THE DAILY APPEAL, Z
MEMPHIS. Feou sry D, 1851.
The discount market rules steady and
unchanged. Our banks extend their
accommodations TO regular customers, at
from 9tO II per cent. Gold is unchanged.
Buying at soc.
Silver is steady al 27c buying.
City scrip continues firm at 7jc buying.
Selling ut IS 10 Soc.
County warrants are firm at 92e buy
ing. Selling at 9 to 9Sc.
Exchange is buying at to of, and
selling at par.
OF the Bank of Tennessee, and our quo
tatiOns are nominal. There is a good
demand for other banks, however,
and they continue firm Bank OF
tennessee, so Bank OF Chattanooga,
Is; Bank Of West Tennessee. 30:
Union Bank, 81; Planters Bank, s.:
Bank Of Memphis, par Bank Of Middle
Tennessee, 80; City Bank Of Nashville,
% Merchants Bank, 70; OeOee, %;
Bank OF Shelhyville, 50; Traders Bank,
par; Southern, D.
BoNDS.-State Of Tennessee SIS, long
loan, 92c; Memphis city bonds, with
coupons for 1861, zoe Interest coupons,
45ci Memphis and Charleston railroad
bonds, 75c Mobile and Ohio railroad
bonds, co.; Mississippi and Tennessee
railroad bonds. SOC.
Congress is nearing its close. and vet
the country is nearly as much in the
dark as to what measures affecting inan-
cial interests are likely 20 be adopted. as
at any time hitherto. These important
matters are likely to be rushed through
AT the last moment, aud quite probably
IN an omnibus affair, that will prevent a
satisfactory consideration of their pre-
cise features.
We give below a copy of the compound
interest note bill as passed by congress 4
Be it enacted by the senate and house
representatives OF the United States of
in congress assembled, That for
the purpos, Of redeeming and retiring
any compound interest notes Outgtaud- /
ing, the secretary of the treasury is
hereby authorized and directed to issue
temporary loan certificates in The man
ner prescribed by section 4 Of the act
entitled an act to authorize the issue of
United States notes, and the redemption
or funding thereof, and for funding the
1oating debt Of the United States. an
proved February 25, 1862, bearing inter
est at n rate not exceeding , per cent.
per annum ; principal and interest paw
able in lawful money on demand, and
said certificates of Temporary loan NAV
constitute and be held by any national
bank holding o owning the same as
part OF the reserve provided for in sec
ions 81 and - of the act entitled An
Ast 10 provide a national currency Sc
cured by a pledgeof United States bonds,
and to provide for the circulation and
redemption thereof" approved June 3,
1864, provided hat not less than two
ifths of the entire reserve Of such banks
hall consist Of lawful none of the
States, and provided further that
he amOuntOf such temporary certificates
It any time outstanding shall not exceed
800, OU0, 600.
The interest bill which has passed the
tate senate Of Massachusetts establishes
per cent. as the rate in the absence OF
my agreement makes it lawful, how
.yer, To contract for any rate, provided
no more than 8 per cent. can be re-
'overed by action, unless upon a written
.greement T; and repeats tue Usury laws.
This IS substantially the same law re-
emily adopted by Rhode Island.
The bank weekly return Of New York
that about three millions OF green
and & million and half in gold and
old notes h1v been transferred to the
rea-ury olice-tLe former in payments
Or The new consolidated ; 3Is, OF which
he treasury Il a seller, and the latter in
aynent for customs. The banks have
lcIeased their loans, chiefly on the
ublic funds, about three millions. Aud
fer all these movements they still hold
) per cent. lawful money in reserve a IS
their circulation and deposits.
Express charges on 80 notes for
by Adams express campany for
inversion, and on bonds sent in return,
Ill be paid by the department until
iarch 81, 1867.