Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-06-17
FINANCIAL AM COMMERCIAL.
OFFICE OF THE DAILY APPEAL
MErfpura lima Ig 1879

MEMPHIs. June Is, 1858.
The money market is easy and will be
so for some weeks to come. In conse
quence Of this comparative abundance
of money local spectators are turning
their attention to stocks and bonds,
causing quite a stir in securities of al
most every kind. The Eastern demand
is also improving daily, and enough is
bought to almost make up the deficiency
in exchange which has prevailed since
cotton ceased to be the main source of
our supply. Memphis and Charleston
stock, Mississippi Central 81 mortgage
bonds, and our city bonds are more in
favor than others, and are not offered
freely. We quote Memphis and Charles
ton Railroad stock at 81 to 52!c; Missis-
sippi Central 2 mortgage bonds, 50 to
4Oc; City bonds, 534 to SAC.
Exchange is in fair supply and rates
are unchanged.
City Scrip is quiet and firm nomi-
nalIy II to 7S,, buying, but no amount Of
It could be found at less than soc, while
dealers are not selling at all. Ledger
balances for the payment of taxes, iH
sums to suit, we quote at so to S5c, selling
County Warrants are not in demand +,
brokers buy at 60 to 62c selling at So TO
CSC as to amount.
Police Scrip is weak; buying at soc /;
selling at SIS to SIC.
The new fifteen cent notes have just
been issued by the Treasury Department
at Washil gton. The notes are of the
same width, but somewhat shorter than
the twenty five cent notes. Ga the right
side of the face is vignette of Gen.
Grant, and on the left vignette of Gen.
Sherman. Between the vignettes are
the words fifteen cent?" prominently
displayed, and Immediately beneath the
figures nl5." The back is similar in ap-
pearance to that Of the twenty-five cent
note. with the denomination on each
end.
IT is estimated that the Earrings will
make more than q million aud quarter
of dollars out of tn cir recent negotiation
OF the Massachusetts loan.
England has imported, according to
the London Times, in three months,
1,24I 1882 cwt. of wheat from Egypt, and
about so per cent. more from the United
States, but should both these sources Of
supply be cut off, there would still be no
famine If the following from the SPectd-
tor can be relied upon, which says:
At 70s per quarter India could supply
our whole demand without much feeling
the loss. 1t is calculated that there are
often 10000, 900 quarters Of fine wheat
rotting in the Punjsub alone for want OF
o'emsnd, utterly useless except to feed
hos which the prejudicss OF the people
forbid them to breed. If science ever
T., L. Al, In, kaox rTocVyil frnp0 fha
whesf-sh Sps and preserving mutton for
ak months. the Engiish people may yet
he fed To the throat on flesh and -four at
at less than the cost Of their insufficient
food.
Judge Daily, in a recent decision reis-
tive to lost or stolen bonds, O. %nes tnsl
a purchaser in good faith-for q ' $iusoie
consideration-of Government secn. Wies
transferable by delivery, acquires IT, 'e
valid against all the world and that to
constitute want of good faith there must
be knowledge of the want of title or the
means of knowledge to which the pur-
chaser wilfully shuts his eyes, that it will
not suffice that there was on his part
want OF care and caution, or gross negli-
gence, or q knowledge OF circumstances
which would excite suspicion in the
mind ola prudent mantle rule in re-
spect TO nsdLdfdes being question OF
honesty or dlshonesty-jf the existence
either Of guilty knowledge Or Of that viii
full ignorance which is equivalent to IL.
We have quoted the opinion thus In de-
tail, because of its Importance to those
dealing 10 Government securities, and
parties who hold them for perma uent IN
vestment should bear In mind that II
stolen or lost, by this decision, all recla-
n1atiOn-shOuld thew afkeFWa.G be
iFacsd--ls Of no avail unless eoml Vleity