Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-11-19
FINANCE AND TRADE
OFFICE OF THE DAILY APPEAL.
MEMPHIS, November IS 1893. ]

AS&a 1880 u
circles which deserves mention is the
scarcity of exchange Ia the East. The
cotton market having been inactive for
several days, has increased the volume
OF currency, while exchange has bsen
more in demand by our dry goods deal
ers. Several OF our discount houses sre
poorly supplied, aud would be free buyers
at &c discount, which is the ruling rate.
Selling st par and very firm. New Or
leans bills are rather more plentiful st
same buying rate as Eastern. Selling
at per to tc discount.
Exchange was higher st the opening,
ef99tc, snd closed steady.
Gold opened in New York st 134sc,
fell to 1916 and closed st 1850. Gold In
this market was firm at Eastern quota
tons buying; selling at an advance Of
1@2o.
City Scrip Is firm, with q good specu-
lstive demand st s2e. Selling st SA985c.
County Warrants are weak. Sellers
are abundant ST 75c, with no buyers.
The confidence in this money, which
vBs Strengthened by ths knowledge that
several OF cur sbrswdsst operators were
largely interested, has been considerably
shaken b. the fact thst these parties are
nov selling at our quotations. There is
no demand for Il from taxpayers, and it
Is questionable whether the i've per can't
penalty viii develop any By the Ist Of
next month.
Police Scrip is scarce and nomirallv
the same s. lsst reported.
In City Bonds We know Of no move
ment. Holders ask s. g5sc.
The combinations q New York are
aEain likely 70 have thin 81 then Jwn
Nay, IS It Is reported that the Secretary
Of The Treasury Is 40 rur.l disappointed
st the result Of his late efforts to relieve
the money market that ne is dstsrmineS /,
not 70 do anything Il he r'sttsr hsFsef
ter, nor to attempt 70 40 snythi1g, nor
to make q show Of doing anything, nor
s Unrest Of doing sEythiBs. It seens
mat be Is thoroughly disgusted nh the
whole b6Einess, which secured hila only
eomity snd assault. His discrimination J
sad disgust are entirely sensible End
cOmmendable. II he were to undertake
the Job Of regulating affsirs in Well
street, and coUntsrscting the operations
of one party or another party, he would
have his hands full, % q good deal
more. When, moreover, he sees that
such efforts as he has lately made, or
rather threatened to make, really work
injury to the credit and currency Of the
Government be is not likely to continue
In the same direction and we sre not at
all surprised st his resolution to let slOns
those things in which the Treasury is
not concerned.
The Comptroller Of currency has con-
cludei his annual report, which has
been sent TO the public printer. He
recommends the redemption Of National
Bank notes on New York, and prohibit
ing payment OF interest On bank bal
ances BY the banks Of that city. The
report will contain the Usual statistical
information, showing the condition OF
the banks, the amount Of tax psid, the
suoeDt OF revenue, etc. The number
Of banks organized since the last annual
report is twelve; the number closing is
twelve, and Bumber Of failures Is four.
Commissioner Rollins has issued 3 cir
cular calling tbs attention Of all internal
revenue officers to the regulations for
marking and branding casks or packages
Of distilled spirits, strict compliance with
which is enjOiue6 upon all officers, and
especially gusgers. Complaints sre made
that there Is 3 great lack Of uniformity
among gusgers is carrying out the regu-
lstiOns, and Il Is charged that in some
districts the regulations are persistently
and deliberately d~isregarded. All off,
Gers are notified that they must be strictly
complied with. II is SlsO reported that
the stamps for distilled spirits are in
many instances negligently insecurity
attached this, it is said, is almost en-
tirely the result Of cs-elessnsss on the
part Of guBgers, and undue haste. In
affixiug stamps care must be taken to
tx the stamp carefully and smooth, 10
clean the face, and ths guagsr must take
time enough to do so. After it is 90 az
fixed 1t should be Cancelled as pre-
scribed, and then covered with transps-
rem vsrnish. This Is E matter for which
the gUsger viii be held responsible, and
the desire to do the greatest amount OF
work in the shortest space + time will
not be accepted for failure TO dc The work
well. Collectors and other receiving
officers ere instructed to detsin or seize /.
any and al casks and packages Of sDirits
sitter receipt OF these instructions, which
are not marked ard branded as required
by instructions, series 40, No. Z, and the
supplement thereto, ana forthwith report 2
the facts = this Office. rs owner o.
epirils Will hnd it 70 his interest to insist =
that the guager does his work correctly
Any neglect 70 max and brand spirits
As required By tae regulations, or any l
GNno "a ~IFk4EcAEc u CLAE-@c5lE55 III IL
tschtng the stamp, should at once bs re-
ported 70 this Office, so that proper steps o.
can be teseD for the dismissal Of the
Officer so doing sDG collectors will be
justiasble ia declining q essiyn any {
guRger 70 duty Wa shall BE- found guilty :
Of such negligence, cs-elessness or disre- n
gard Of the regulations. 9
The decision OF the ( creme CoCIt Ct q
New York in the csse Z Peyton Jacloa :
" Joseph Walton, where lock was Old
Alter the eXhsusL.c OF the r-srgin, and /.
On notice OF tine snd ssi5. crestes 3 fut :
ter in WEll street. Under the ruling oil
the Judges, il a cU5t0- r chooses to get
cut Of the way bis stocks Taver csp be
sold. Hence, Ia esss q q drop ne can
shSert, leave his brokers 10 carry =
the stock, and rsturn % realize when tie /
stock gees Up sgsiD. II sustain. this
decision will be 8 serious blow x The
brokers' occupation.