Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-12-01
FINANCE AND TRADE
cFFICR OF THE DAILY APPEAL.1
AEGPHn. November 30, los. !

- 49,
FINANCE.
The activity reported liz our Exchange
market during the last two days OF the
week under review In our last weekly
edition, has been undated, and during
this commercial week offerings have
been quite heavy. During the week 10
come, however, 3 falling of is expected,
ss there is now but little unsoId Gotten
upon the market, and receipts are not
improving. The offerings Of exchange
have not been restricted to any psrticu-
lar quarter, bus have been well distrib-
uted between New Orleans, New York
snd manufacturing points outside, while
the counter demand, which was also
very good, has been even more diversi-
lied. Bills upon New Orleans in pay
ment for sugar and moissses, upon st.
Louis for corn, osts and meats, upon
Cincinnati snd Louisville for meats, gro
ceries and produce, and upon New York
in payment Of purchases Of dry goods,
boots and shoes, clothing aad other arti-
eles Of commerce, make up the bulk of
the demand. Rates are Uniform. New
York bills and sight bills Upon New Or
leans are taken at .s discount, and bills
upon outside points in New England az
Sc discount. Ths wants or our mercsa-
tile community are supplied st par upon
al points, 1ith an occasional rebate for
large amounts.
Gold has been comparatively steady
during the week. The New York mar
ket to-day opened at I35se, and at 2:15
pm. wss 1859. Only small amounts
are offered here, which are taken by bro
kers st IS49135c. Selling al I3546I36c,
with only = light counter demand.
Stocks in New York have f1ctusted
considerably, New York Central closing
this evening At 1881 snd st 3Sc.
Currency is easy and balances are very
fair. Applications f0r money for other
purposes than that OF moving cotton are
OF rare occurrence, and all No. I snort
bills are taken At the regular rstes OF in
terest. Street rates are Irregular.
City Bonds have improved since Sat-
urday last. We learned OF several or
ders received, and an Offer Of site for
$4,000 was refused. Last weak buyers
were hard TO ind at that figure. The
speculstions heretofore going on ia City
and County Scrip viii not justify ope-
rstors much longer, as taxes not nov
paid will hardly be so before the 1st OF
next month, and the smsIl amount Of
thess monies now sd0at will not suffice
to keep their busy minds employed. We
Therefore look for bonds to receive some
Of the life infused by these same specuIa-
tors into other local securities. To the
"rings, +" the miscalled "curb-stoReD
brokers, shrewd, sctive business men eli
OF them, ara we indebted in no small de-
gree thst City Scrip is not yet selling on
our streets st SSe, snd County warrants
slmost worthless.
4 cotemporaTy Oh more than one occa-
sion hiss alluded 10 "cuTb-stoneU bro
kers. We know OF no such operators in
our money market. Many Of our banks,
snd We think sl OF our brokers, keep
some Z employed to DO their outdoor
work, snd We shink We know Of more
than one broker who has "a local habi-
tatiO1 and a NAME" the latter put up in
gilt letters, the bulk Of whose business is
done UPON the street.
City Scrip has been Ia active demand
from tax payers. Dealers buy at s29S3c.
Selling st S4SS6c.
County Warrants are also firm and in
demand. Buying st 7S974c. Selling at
7697Sc.
Police and School Scrip are firm At soc
buying. Selling at CSC.