Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-08-04
MEMPHIS APPEAL
FINANCIAL AND COMMERCIAL.
OFFICE OF THE DAILY APPEAL. I
MEMPHIS August & 1888

Local money matters have not been
active since the issue Of our last weakly
edition. On the contrary everything
has been very qdiet, and our quotations
on all financial matters may be consid-
cred nominal. In the single item Of ex-
change alone has there been anything
like fair amount OF business doing.
Collections have been very good, mostly
for meats and plantation supplies pur-
chased at st. Louis, Cincinnati and
Louisville, and the demand for exchange
upon those points, as well as upon New
York, has been active since Friday last.
The amount of Eastern bills offering
is light, there being no exchange making
to speak of, and some OF our banks are
compelled to ship currency to keep up
their balances, while others are appar-
emily well supplied. New York sight IL
taken at par to sc premium, and sold at
10 premium. Checking on Cincinnati,
ST. Louie, Nashville and Louisville at 4c
premium.
Gold has advanced steadily since our
last, though sales in this market have
been very light indeed with no demand
except from brokers for shipment. A
shipping margin only is kept up on New
York rates. That market opened to-day
at l45sc and closed at the same. We
quote at l43&@l44c buying. Selling at
I45c.
Stocks and bonds are nominally I'M
changed. The demand to fill Eastern
orders is undated, but the offerings are
so very light that we can give no actual
sales that will be of interest to our read.
ere. City bonds have become firmer and
holders are generally not at sill anxious
to sell. Early in the week purchasers
could find few lots at 50@52c, but we
could learn Of no offerings to-day at less
than 55c, and we are not certain that or
ders could be filled at that rate, though
we found few holders who talked as
though they might take that figure.
Eastern buyers are on the market, and
all offered st less than 55c can find ready
purchasers. Mississippi Central Rail-
road securities are also in brisk demand,
but like city bonds, are hard to find. An
unlimited order is on hand for that stock
at Zoe; lst mortgage bonds, Goo; past due
coupons, So; % mortgage bonds, 400 !;
past due coupons, 38S. All other stocks
and bonds are nominally the same as at
our last.
There is good demand for city scrip
at 7S@75c, with light transactions. Sell
ing at SOC.
County scrip is dull. Buying at 529
53c. Selling at $685..
Police scrip nominalIy zoe buying.
Selling at 75c.
Five separate lots Of past due city cou-
pons were received yesterday for CONVEX
sion into city bonds. They Amounted to
about 80 600, and were from such prom
inent parties as the National Bank of
Commerce, Spofford, TiIeslon & Co., of
New York, and the Southern Express
Company.
The New York stock exchange
quotations at noon to-day were as
follows Coupons OF 'Sl, I5I /;
do 1872, l4S do i64, l5s; do '65,
l2s; new issue, So /; do '67, s.; IO-4Os, s! !;
1905, both series, not quoted old Ten
nessees, 644; new CIT Government
bonds, quiet.
Mr.. Singletary stated in the House of
Representatives, at Nashville, on Friday
last, that according to information re
ceived from prominent gentlemen Of
New York, that fraudulent Tennessee
bonds to large amount were run on the
market in that city. 10 view of the
present crippled condition of our credit,
it may we'll be imagined that the sn-
nouncement created an immense sensa-
ton at the capitol. The joint committee
to whom was referred that portion of the
Governors message relating to the fl
nsnces, have already taken the matter
in hand, and will give it most thor
ough investigation.