Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-11-30
FINANCE AND TRADE
OFFICE OF TBS DAILY APPEALl
AEEPHB. November .. 1858. J

GAEHLA Ut N = JAIL arr - 4
AEEPHB. November .. 1854.
FINANCE
The Scrip market has been active to-
day, and large ssles were made TO tax
payers, who are anxious to avoid the
psnslty Of 3 per cent. which will accrue
upon al taxes not paid by the LIST pr0x.
Taisi with the 2 per cent. already as
Esssed sgainst those now in arrears,
makes the penalty 8 per cent. on all
taxes unpaid by the LIST of December.
The City and County Tax Collectors
were very busy to-day, and will NJ doubt
be equally 50 on Monday, the last day OF
gTscs. Outside holders Of City Scrip
were offering to sell during the day at
S4s, but dealers we're slow 10 buy st bet-
ter than S3e. Several thousand dollars
were taken by tax payers during the
day at SIS, in sums ranging from q few
dollar up to $500 and $1,000.
Gold opened in New York at lS4tc,
and CLOSED at 1851. Our dealers buy st
New York rates and sell at l96@156!o.
County warrants were equally active
and prices were firm. Dealers bought at
75976e, aud sold at 779soc. a sale Of
$1,000 IN various lots was reported by q
broker at SOC during the day
Oar 0snks were actively engaged dur
Ing the day, and money remains mode
Tstely easy. Cotton Bills we're not Of
fered 60 literally, but checking was
heavy to purchases of cotton made
during the past two or three days. Rates
are quite irregular, ranging from | 10 &c
discount buying, Oh New York another
--s-a- - A. -
20 be large ar small. New Orleans sight
hiils are taken at e discount. Selling
on thel latter point at par to 10 discount,
sDd on New York at par TO 81 discount.
City Bonds are in good demand at sic,
with DC sellers st that figure. The city
sold sev-rsl thousand dollars during the
day at Size. In ether stocks or bonds
there were no sales 10 report.
Police Scrip is il demand at 90e, with
little-on the market. Selling at Csc.
School Scrip is firm at SOC buying.
Selling ct e5o.
The Teseipts from customs and inter-
nal revenue during the present month
have been rather small, while the ex-
penditures OF the Government have been
sbout the came as last month. 1t will
be remembered thst over SO, OO0, 900 in
coin wa taken from the vaults Of the
Treasury on the LIST inst, to pay the
s-emi-annual interest on the 5 20 bonds 1;
hence the public debt statement for the
present month, TO be issued on the Ist OF
December, will show an increase. The
internal revenue receipts, it was antici-
Psted, would increase toward the let Of
the month, but those from customs are
not as heavy ss last month.
The New York dealers in stocks are
discussing amid great excitement E prop
cation to strike the shares of the Erie
Railway from the list CT stocks dealt ia
ct the boards. On the one hand, many
respectable brokers denOunce the man
sgemeHt Ct the TOsd, and that Of the
stock in Wall street, as disreputable and
fraudulent. They insist that there is no
ssfety FOX dealers ia buying or selling
shares, the actual value OF which is de-
pendent on the secret and changing will
of a party OF spectators. On the other
hand, it Is said tBat this, though Il may
be more cOnspiouOusly and VIGOROUSLY
true OF Erie shares than OF others, is
really true Of many railway securities (;
that the same practices which have
ruined thousands in Erie have injured
hundreds, at different times, in Michi-
gan Southern, Northwestern and ether
railways, and that il Is unfair to make
an exception Of q single stock.
The Comptroller Of the Currency's rA-
cOmmendstiOu5 10 bis annual report, in
favor Of a return to spscie payments, is
certei. ly expressive OF the general feel
ing on the subject. Among all classes
the d~esirabUi:y and necessity Of q cur
reney Te5eemable 10 cola is at length be-
coming apparent, and 10 non more than
among the mercantile omnunity. and
the planters Of the South. The New York I
Bulletin, il an article upon gold f~ucius-
tons and resumption, thinks that this
matter cannot be long delayed: !
The operations and calculations OF
merchants sFe constantly impedsd by [,
the gold fluctuations, requiring, as :
they do, 8 corresponding adjustment in
the value Of goods. Now, the merchant
is the football of the Spectator, who
takes advantage OF every opportunity
presented to advance or depress the gold !
premium, according as be believes busi- 5
ness men may desire 20 buy or sell. I'M
porters who postponed remittsnce5 OF :
gold until after the November elections, s
found the premiums suddenly advanced
by agencies that had the means and the }
ability 10 Influence the market.
IL has been estimated that the demand ,
for gold for ordinary commercial purpO- =
Ess, including payments OF customs,
mounts 70 only $50, 600, 900 q week, yet
this does not amount to e.twentieth 4
part Of the ordinary weekly transactions !
Of the gold room. Daring the first four J
teen days Of November the transactions =
OF the Gold Exchange Bank reached the
enormous aggregate of 81 $50, 000, 900.
The whole stock Of gold OF the market is
turned over several times a day, paying
the ordinary commission OF lie or Z OF
one per cent. for each rsnsfer. The 9
large profit arising from turning over 5
this volume OF specie furnishes an inter /
est which viii always oppose specie pay :
ments; but the demand for r. return TO q 2
stable currency is becoming so urgent
that some steps towards il cannot long =
be deferred. For not only is the importer 4
In this question and many C
consumers o. articles imported, tut the =,
Western farmers and the Southern cot .
ton producers suffer from the uncertain Y
ties attending the transportation Of their 9
respective crops. Merchants are unwill- /
ing to draw bills against values which 1t
II lApussluis 20 aubiClpabe OF calculate
upon. Manufacturer are Obliged TO limit c
operations for the same causes, and capt. Z
Lsiists turn their attention from ordinary a
business pursuits to real estate and gov c
bond transactions, thus drawing a
on q large amount OF capital from pro n
ductIve employment. In fine, we can 4
have no permanent Improvement 10 bust 3
ness upon the existing basis of an inrre- =
deemable aud ~iuetusting currency. d
CDFTOS. Il
The Liverpool dispatches OF yesterday
only came to-day. The opening dis
patch announced that market quiet a
TEla. n-Iaara FTsF T G