Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1867-04-21
FINANCIAL.
oFFICa oF 4aE pAllY APPEAL,

OFFICE GF TdE pAlLY APPEAL
AEMRHIs, April 20, 1867
There is no excitement in our money
market, and very little change to note
Our hanks ara WeIl supplied with eur
rency for all immediate purposes and
are discountlng at regular rates to No. !
customers on short paper. Gold is firm
at S6e buying. Selling at ss to 39c.
In silver there is nothing doing.
Brokers offer p to 2se, and sell st Soc.
City scrip Is in good demand by some
brokers, but the majority 40 not buy.
1t is lower than on yesterday. Buying
at So to SIC, and selling at 60e.
County warrants Of the old issue are in
demand at IS to SIC, and selling at aOc.
The new issue is not ia demand. The
county and state tax collector, Mr.. Gar
win, to-day refused to receive them for
taxes.
Police scrip is depreciating, and is not
in demand by brokers. Very few OF
them buy. The offering rate is IS to
soc. Selling at s5e.
Exchange is very scarce, sEithough
rates are unchanged. 1t is IN fair de-
mand. Buying at par to ] of, and sell
ing at Z to t premium. New Orleans
buying at of, and selling at par.
There was some very fair trsnsac-
tons reported in uneurrent money, and
rates continue steady.
Bonds are nominal. Memphis sno
Ohio railroad bonds, 25 to SOC; Memphis
and Little Rock first mortgage bonds, u
to soc Memphis and Charleston railrsaC
bonds, 65 to zoe; Tennessee bends witt
coupons, 40 to soc; Tennessee bonds
new, 55 to 60c; Mobile and Ohio railroad
bonds, 50 to 55c; Memphis city coupons
90 to CSC; Memphis city railroad bonds
so to soc.
Some Stockholders in a National banl
at Enfield, Conn, paid taxes on tnsl
stock under protest and will contest tn
ripht of the state to levy the tax con
trarv to the United States law. Tn
latter. il will be remembered, says ths
hank stock shall be taxed where th
bank is located the state law, wher
the stockholders reside. The state vii
take the case up to the supreme court
claiming that local taxation is powe
reserved to the state, not delegated {
the United States.
The Pennsylvania Central railroa
company have bought the Coiumou
and Indiana Central railroad.
/ In March, the United States esss
i office at New York received deposits G
cold amounting to Sl5a,0a0; Of silve
| $50, 800. SIlAa.1F =
The exports Of treasure from Calitol
MIA have recently been heavier than !
the corresponding season in 1866.
We observe that some of the nations
hanks report compound interest note
under the head of lawful money,
their April quarterly statement of n
sources aud liabilities. The origins
issue of these compound notes were, /
, the words Of the act authorizing them,
legal tender for all purposes whatev'
except In payment of custom due
There are but comparatively few OF the:
old notes outstanding. Section two
the act of June 80, 1864, an act whic
provided for the issue OF not over w
hundred millions OF interest DearlI
treasury notes, declares that NO lntere
bearing treasury notes, issued under IN
act. shall be a legal tender In payment
redemption of any note issued by al
bank, calculated to circulate. Mr.. HUI
burd. not long since, notified the BAN
=, that they could not hold these compouI
interest notes as lawful money reser'
for the redemption of circulation.
Subscriptions for the relief of the So
fering people of the south commenced
! the Office Of the Pittsburg Post, and
two days the amount was but one hu
l. dred and twenty-seven dollars.
In relation to the recent m0neta
; commotion in Richmond, a local journ
remarks: The fears of moneIa
panic in Richmond, reported yesterda
. arose from the fact that during the
@ cess Of the legislature certain officers
q the banks of this city, which are
Z, repositories of the public none.
attempted to create the impressi
that the act of the legislatr
rs Is providing for the payment OF
II interest on the public debt could I
be executed, aud that any movement
the part OF the state to withdraw
money deposi ed would precipitate
N financial crash. The action OF the q
b. goods firm Of Clafiin d Co., OF n
Us York, in levying upon the goods
Steenbock & Co., the largest dry goC
house in Richmond, has created grt
is excitement in the latter city.
Richmond papers say II this system
generally adopted by the north or ere
or tors, it will inaugurate fearful pa
OF among the business men OF the south