Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-07-29
MEMPHIS APPEAL
FINANCIAL AND COMMERCIAL.
OFFICE OF THE DAILY APPEAL.i
MEMPHIS July 2S 1893


OFFICE OF THE DAILY APPEAL.l
MEMPHIS, July 2s, 1888.
Business was both active and dull yes.
( terdsy-in other words, it was active in
"spots.U While one merchant com.
planned OF the dizziness, his next door
neighbor would say that he had been
busily engaged all day in filling orders
or attending to the wants of those who
came in person to purchase their sup
plies, and the numerous packages upon
! the sidewalk were witnesses to the truth
Of the assertions. There is at present
very little transient trade doing in this
city, and regular customers frequently
/ come in squads. This accounts for the
dull times at one house and the activity
which prevails ataueighbor's. Printers
| ink, as we heard an old merchant say
| while making our daily rounds, has much
! to do with the matter. The time has ar
rived when the planter is about making
/ up his mind as to whom he will ship his
| cotton and where he will buy his sup
| plies during the coming year, and as
/ many changes have occurred since last
| years crop was forwarded to market, il
/ behoOves our merchants who continue in
I business, as well as those forming new
relations, to let our country friends be
properly posted, and in no way can this
be done better than through the columns
of the APPEAL, whose circulation
throughout the interior is greater than
that of all the secular press of Memphis
combined.
The same monotonous state Of affairs
prevail in money matters that have char
acterizad the market for weeks. It is
impossible to make silk purse out of q
sowis ear, sayeth the old sdage, so is it
likewise impossible for US to entertain
our readers daily with interesting fiuan-
cial items, when the whole volume of
local money matters run along for weeks
at time without single divergence
from the straight channel Our banks
won't break or won't stay broke, our
Cashiers are all above reproach, our Di-
rectors do not embarrass their banks by
a too free use of the funds in their re-
spective institutions. In fact, since the
days when Tennessee lost her school
fund, we have not bad first class money
item, and would urgently request our
stockholders and directors to import at
least few bank officers from the land of
steady habits and defaulting cashiers, so
that we may have sn opportunity to lay
before our readers a thrilling account Of
how a balance was covered up, and how
speculstions in stocks and gold had for
ever ruined q heretofore irreproaehsble
T., l.kl
Church and State were of the highest
responsibility, but whose bondsmen
would, It was thought, make everything
right, and save the pious rascal from
trip to Nashville. Memphis, which is |
second to no city On the globe ia other |
matters, and which can point with pride |
to her long list of thieves and murderers,
scalswsgs and carpet-baggers, is very far
behind in the matter above alluded to,
and it is high time that she should try |
st least TO emulate Boston or some other |
Eastern city in this respect.
The exchange market Is very quiet, |
though the demand at some Of our dis |
count houses is in excess Of the supply. |
Rates on all points are the same as yes
terday. A large draft on New York |
could, we think, be bought at I premium,
but ! is the prevailing rate to both Gus
toners and outsiders.
City bonds are weak, but are not Of |
fered SIS on yesterday when several lots |
could have been found at SOC; orders toj
take all on the market at that figure, On |
Eastern account, have been received, |
and it does not speak well either for the |
public spirit or intelligence OF cur capt.
talists to allow their own bonds to be |
held in higher esteem abroad than at |
home. The esgerness with which the
bonds were sought for at soc to-day |
caused their withdrawal from the mar
ket, which we regret, as We would much |
prefer to see them held by Eastern capt.
tAlists than by weak kDeed citizens who, !
upon the hrst change in the moon will
again rush them upon the market. We /
could learn of no sales during the day.
City scrip is in demand at 72@74c.
Brokers do not wish to sell, and will not
do SO at less than 1880.
County warrants are i'll some demand
to-day. A street broker who offered $40
failed to fill a small order. We quote at
52G54c bHyiDgi selling at $4,000.
Police scrip dull at zoe buying; selling
at 75c.
Gold opened in New York today at
l4Ilc and after declining to IA again adj
vanced to the rate at which it opened.
We quote at 142@I42!e buying; selling
at l4S@1G3Ie.
The New York stock exchange
quotations at noon to-day were as
follows Coupons of 'Sl, 15s
do 1872, 14l do '64, l13; do '65,
125; new issue, 81 do '67, 90 lO-4Os, 50
1905, % and 30, lO9; new Tennessees,
s. old, 67l Government bonds quiet.
In Railroad stocks the only material
change we find is in Memphis and
which is very weak $1,000
was offered to-day at 4sc. Other stocks
a 4. oro /