Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-06-23
FINANCIAL AM COMMERCIAL.
OFFICE OF THE DAILY APPEAL. I
Rr--~r,rE ra lima % 1899 4


The money market is equally as easy
and currency as plentiful as st the close
Of our last weekly review. The excess
of currency over the demand and the
confidence, which is general, that the
co.'s pg crops will be very much above
the average, thereby requiring increased
facilities for transportation has caused
the attention of capitalists to be turned
toward railroad stocks, the demand for
which has been active during the week.
The future will Justify this confidence IL
roads centering in cur city, and wher
the road extending to Little Rock is fin-
ished, which it will be by the f6st "a
January next, the increase OF traffic vii.
| be so great IS to be a matter OF astOnish
ment that it has been so long delayed.
Parties from the city are now, We Iearu,
in Little Rock, and will make an effor
10 get an appropriation for the roa0
which will, no doubt, be successful, as
the people Of that Stale are more direct
iy interested than any others in its
| epeedy construction. Meantime the
| bonds have gene up and are firm. We
quote LIST Mortgage, 40c Navy bonds, So.
Other stocks and bonds are firm aud
tenGing upward. Memphis and Ohio
Railroad stock, Zoe; 1st Mortgage
bonds los, zoe; ID Mortgage bonds s.,
| 2e,: Mississippi Central Railroad bonds,
Ist Mortgage, 81 to 58e; 81 Mort
gage, 40 to Ac; Mississippi sbdTennessee
Ist Mortgage, SOC; Mississippi and Ten
nesse e 81 Mortgage, 33c.
The Exchange market is inclined to
beaviness. Offeriags are fully equal to,
If not in excess Of the demand. Our dis
count houses buy Eastern at par, and
sell on New York at premium. Selling
on Louisville, Nashville, st. Louis and
Cincinnati at premium.
Gold has been tOlegably steady during
the week, with light transactions in this
market. A comparison of the probable
supply Of gold for June and July shows
| that it will exceed that for the same
| months Of last year by S23 600 600. There
is DO reason for suppOsiug that either
the customs payments, or the exports OF
specie for the two months will vary ma
terialy from last year. The specie ex-
ports for the expired portion Of June are
much above those for the same period Of
1857: but on the other band, the ship
meBts Of July last year were unusually
high, and much above what there is apu
reason for expecting them to PROVE 4
year, the New Ycrk specie exports
that month being Sl4. 300 600. A iar
proportion of the loan vi 1868 is q
abroad, and the proceeds of The reder
ton will have to be RENTED; but
eign bankers generally anticipate tE.
fully thTee-tourths OF the amount v
be reinvested IN other bonds, so that
can hardly be reckoned as an eleme
ia the exports of gold. The premium .,
New York closed to-day at 14ls W.
quote al 1885, to l39 buying. Selling :
I4O. .
City Scrip lie quiet, though there is
falling off in the demand. Buyers of
75c and sell al SOC. A lot, however,
any size could find purchaser amo 5.
brokers at ne.
City Bonds are higher to-day. T.
demand has improved. Several saI
occurred at 81 to 55c, closing firm at
latter figure. tab1
County Warrants hold their own, 2 in
are weak. Dsslers are slow to buy al 6kT1H
Selling at SO to Csc. a.
Police Scrip is dull. We quote at ancs
buying. Selling at S5c. Ar
The cotton market, which at the clCgE
of our last weeks review was dull IN IN,
irregular, has improved materially r.
ing the week, opening firm IN Liverpk Ai
on Tuesday at log TO l04d for Orleas IA
The advance was steady in both Mile,
York and Liverpool, reaching ia .nfu
Il43 in the latter market, and 3i5 She
Middlings in New York, but closing at
Sic.
The Liverpool market to-day was
easier st the opening. Uplands, HID;
Orleans, lid. At noon the market as
quiet, but steady, and at the close was
easier. Sales 10000 bales. Uplands,
liz to 113d; Orleans, liz to lid.
The New York market of to-day
opened quiet, out firm. Middlings, Bic.
At noon it was dull. Middlings nomi-
nally Bic, and at ppm. was dull and
lower. Middlings, S03c. There was no
change at the close. sales. 500 bales.
In this market prices have been quite
irregular. At tie opening 274 to 28c was
considered outside figures for Middiings,
but as the other markets advanced hold
ers became sanguiBe and on Saturday
we're asking 30 TO sIc for Middlings or
the small stock yet on hand oDIy very
small proportion is of this grade A fac
tor o-day succeeded IN finding s bales of
MiddliDg to Strict, which be took at sec,
and bales Middling at 2es, which give