Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-12-13

OFFTCR OF THE DAILY APPEAL. I
ALxPHB. December r. B8. j


The regular routine Of Saturdays busl-
ness at our banks was increased some
what to-day by LIBERAL checking against
cotton purchases during Thursday and
Friday, but money Is easy and rates IN.
changed. Good commercial paper, be-
tween banks and depositors, Is discounted
at e9l2 per cent. Street rates are from
IL to 8 per cent. per month on collaterals.
Cotton bills on New York, IS well as
on st. Louis, Louisville and Cincinnati,
are bought at 10 discount. Selling on
the latter points at par, without any con-
cessIonp, and on New York at par to 3c
discount. New Orleans Sight Bills,
bought at So to s. rs per $1,000 discount;
sold at ! premium, with some banks ask
ing l premium.
Gold in New York opened at 1854. New
York Central, I24 Erie SO. Gold closed
at 1854. Exchange was steady through
out at eI@1o4c. We have no sales of
Gold worth noting. Dealers buy lc uR-
der New York rates and sell st 1854
@l3so.
We could hear OF DO transactions in
City Bonds to-day. The buyers upon
the market yesterday we're evidently all
supplied. We quote Paving and Plain
at 52@5S,, with none Of the lstter Offer
ing.
City Scrip Is firm. NominslIy SOC buy
ing; selling at Si@SSc.
County Warrants are also irn,-75@
76c are the buying rates; selling at ne
500. as to amount.
Police Scrip scarce and firm at 92@9Sc
buying selling at s5o.
The two per oeRt interest due on the
LIST Of July last on the Virginia State
debt will be paid on the LIST harry.
1t Is moi expected That the 2 pr cent
falling due the ist Of January will be
psid.
For some time back the policy Of sub
hitting the question Of the constitution
siity Of the legal-teDder act Of Congress
to the Supreme Court has been discussed
in influential quarters, and 1t ia asserted
that an effort will be openly made and
pressed during the present winter to have
a decision.
The Director OF the Philadelphia Mint
states that the gold deposits for the
month Of November were 500, 993 81,
and the oliver deposits and purchases for
the same time S74,3S3 56-In all, S277,-
3S1 II. The gold coinage for the month
was SlS3, 7s1 81, nearly all OF which was
in double eagles. The silver coinage was
but $50, 700, all In dollar pieces. The
nickel coinage was S1l9,l00, In five and
three cent pieces, and the bronze s47O0,
In one and two cent pieces. The total
number of pieces coined is 2,919. 35S, Of
the value OF $3.50, 2S4 81. In these excIu-
sively paper money times ID Is surprising
that there Is as much employment for
the Mint as there is.
The Philadelphia Ledger, abiding to
the New York bank statement for the
past week, and the drain Of currency
thi.,ks the movement OF
money South is legitimate business, and
while 1t will not iDjure the banks, will
materially and almost Immediately Inn
prove the flaLeisl and business pros
perity Of the South, which, II not al
soon will be In g better condition
to resume specie payments than any
other section of the Union. It has passed
well through its privstions, and,
put Of debt Is steadily growing more
prosperous, the result Of forced economy
sHd labor. Something of this Is yet left
Tor the North to go through with.
The following is q statement Of the
public debt on December l, 1885:
Deot bearing coin