Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-07-16
FINANCIAL AND COMMERCIAL
OFFICE OF THE DAILY APPEAL

a
MEMPHIS, July Is, 1863
There was no change in the general or
money markets to day. All branches
Of trade are dull, and prices are about IS
/ they were yesterday. By a dispatch to
Mr.. Cherry from Mr.. Woodruff, at Louis
vile, we learn that the Committee
/ spoken ofyesterday, who went to Wash
/ ingtoa in reference to the Merchants'
/ National Bank, will arrive in town to-
/ day. From all that we can hear the
opening of the bank will soon follow
/ their arrival.
. In Exchanges rates remain steady
with light offerings and demand. Buy
ing Eastern bills at par to premium
Selling at premium.
Gold opened in New York to-day at
/ l42, and closed at 1929. Buying at
40 to al; selling at 142. Our buying
rates are governed somewhat by the
amount offered. A large sum-say $500
to S10OO-would sell at 142 to a broker,
but small amounts are taken at &c lesl.
The following are to days New York
quotations on Governments Coupons.
'8l, 1879; do '62, 49,; do '64, 10; do '65,
III; new issue, Sc do '67, 81; IO-405, Il !;
7-3Os, ID and Sd, S56S3; Old Tennessees,
III new do 698.
Stocks and Bonds are nomiually uu-
changed. The demand for all binds of
Railroad Securities is greater than the
uGerings. We quote as follows: Mem
siiis City honds, So to 563. Memphis
Gas Company stock, 81 50 Mississippi
Central Railroad, Ist mortgage bonds.
5Sc; q do. 40c. Mississippi and Ten
uessee, lst mortgage bonds, So. Mem
phis and Chsrleston stock, Soc Mem
phis and Louisville, lst mortgage bonds,
80 to Sic; p do. zoe. Memphis and
Little Rock bonds, 40c.
City Scrip is weak at 20 to ~, buying;
selling at 70 to 76,.
County Warrants dull at SOC, buying
IS to SIC, selling.
Police Scrip dull st 20 to nc, buying;
selling at IS to soc.
The Merchants Bank of Montresl de-
cided to raise its capital to q coo 600
a great International Commercial Con-
ventiOn is to be held in Portland, Maine,
on the 4th OF August, to consider the va
rious projects now before the country for |
Increasing the facilities Of intercourse be !
tween the interior and the Atlantic sea
board, to urge the adoption OF measures |
to relieve commerce Of unnecessary bur
dens, and to secure unrestricted freedom |
of trade throughout North America. |
Delegates are expected from all sections |
Of the country.
Tne nearest approach which the Gov
eminent can now make to taxing the
On lgf o. faT Of
form Of United States Bonds, is to tax the
interest, a1d this the House Of Rapresen-
tatives at least Is disposed to do, as q vote
of niDety-twO to fifty four recently in
structed the Ways and Means Commit
tee to bring in a bill to that effect. The
iGtert st Oh United States Bonds is now
50 high, and they Ell " so many exemp-
tons from taxation, that capital is at
traCted to them to the detrimeut of
numerous other important interests.
The only really bright hope for the
country at large in regard to the bonded
debt is that by the time that the Gov
eminent has any option in The matter,
legislators will be educated up to the
point OF requiring them to be called in,
and their place supplied by long bonds
az low rates OF interest, and without the
special exemptions which are now so
sxasperatiDg to all the community ex-
5ept the large bondho!dsrs.
The Wheat crop of California is re-
ported as promising unusual returns.
Letters from the Sacramento Valley give
very encouraging accounts of the crops
and speak Of the wheat pro- r
iuct as remarkable in its yield, pronis- {
ng more TO the acre than any previous
'fOp since the occupation of the country
~ Americans. The rainy season con-
inued much later than usual the present | {
'ear in that region, and the people felt
'reGt apprehension Of logged and tangled
ields, which, when they happen, bid de-
lance to the crop gatherers. But recent
ccounts represent the fields as in good
ondition, with the prospect of an unex-
implied product.
Cotton az the opening in L 'verpool to- S
ay was quiet-Uplands Ilgd; Orleans 4
l3d; and was unchanged to the close. 4
ales 5000 bales. y
The New York market at the opening 7
7as dull, and prices, though unchanged, :
7ere tending downwards. At noon it a
Tas doll and dropping, and at the close Y
las still tending to lower prices, though ,
o change was reported in quotations. Il
4les 500 bales. q
Our market was dull, with Middlipgs
Ominslly 30 to Sic. No sales to report
CHAMBER OF COMMERCE
MEMPHIS, July 10, 1858.
.ook on hand Sept. l, lss7.....-........ l,osO
eceived previously ..-......-...-252,9 69 25e,g
34o5a :
xporteo To-Day ...,..-.....-............
xported previously 53 5i7 253 5l7
9ck on band-.----........-.-- sc
Wheat is scarce. Very light receipts n
'e quote sales Of So sacks Nc. / at 81 80, II
sacks No. 2 at 81 IS, 50 sacks No 9 at q
so, so sacks inferior at 81 so, and 80 o.
nks In farInr at 81 40 A nnlas dun n sI |