Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-02-22
FINANCIAL AND COMMERCIAL.
OFFICE OF THE PAIL APPEAL

AhMN1A 49,
There is g better tone p~erceptible IN
money matters during the last four days.
In commercial circles, says an exchange,
business has been pretty steady, and the
feeling is decidedly better than IN the
latter part Of 1867. 1t is evident here as
well as elsewhere, that there is no longer
room for the wide fluctuations and de-
cline ia prices which have ruined many
houses in the past two years, and without
any prospect of a change in the currency
or nearer approach to a gold basis for
some years 81 least, there is greater con-
fdence in entering upon business trans
actions. Demand and supply viii nov
resume, to a great extent, their legiti-
mate control of the markets, excepting,
Of course, in the event Of Congress pass
ing extraord laws regardiDgfnEnces
or tariff.
The cotton market being active, our
hanks are abundantly supplied with ex-
change on ali Eastern points. New forK
sight is bought at yesterdays quotations
one bank alone taking fully SlOU,OJ
Der day. Sight bills on New Orleans are
taken at : to &c discount, selling at &c
premium on that city, and on the East
Cold fs steadier. It opened to-day in
New York at l40Ec, and was l4O4c at
noon. The closing dispatch quoted gold
at l4lIc. The rise was caused by 9
rumor that the President had re-
moved Secretary stanton. Here
the outside demand is better,
and dealers find no trouble in dispOsing
Of all presented without recourse TO ship
ment. Buying at 1885, to 1897 sellinga at
$40 70 Ale.
City scrip is unchanged. There is no
speculative demsnd. Small pieces are
sought after, but large Pues are neg
lected. Buying at 30 to 42ci selling at
IS 10 45c.
County warrants are very dull. It Is
reported that = large amount will be
thrown upon the market as soon as coun-
tersigned by MI. League, County Clerk,
VINO is now absent. Dealers are very
shy, snd not disposed to operate, except
they know where it can be invested
without any delay. We quote it buying
at soc in a small way selling at 55c.
Police scrip is in active demand. Buy
Ing at S3c; selling at zoe. Transactions
between dealers occurred duriBg the day
at Sc.
In the United States, during 1856, the
American Artisan reports more than
ten million tons Of iron ores were sub-
m!tted TO the action Of fire IN six hum
bred and thirteen blast furnaces, and
from them were obtained about four
million and q half tons Of pig iron.
The coal fields OF Alabama are attract
ing attention. They are three in num-
Der the COosa River district, covering
about TWO thousand square miles; the
Cahawba River district, covering some
i've thousand square miles; and The
Warrior River district, which is said %
embrace no less than fifty thousand
square miles. The quality Of the coal
produced from the first tive is very dDe F;
The third is rather inferior and less access
sible. Very little has hitherto been done
in developing these districts.
The Liverpool cotton market st the
opening to-day was firm and astive.
Uplands, IOgd; Orleans, l0.d. At the
close, quotations were unchanged, but
Uplands to arrive were easier, and quoted
at SD. Sales for the dsy, 10000 bales /;
weeks sales, $4,000 bales. To specula-
tors, q. 600, and for export, 4l,O00 bales.
Stock on hand, 267, 900 bales, Of which
I43, 900 are American. OF the cotton
ahoat (27S 600 balesl 10000 are Ameri-
can. The New York market was dull ct
the opening, though holders were gen.
orally firm, and waiting Tor cable news.
At II s.m. the demand was good and
prices firm; Middlings, 24c; UPlands,
94e; Good Middlings, 25fc; Orleans,
24sc. At noon the demand was moder-
ate, and prices firm and at 8 pm. the
market was quiet but weak; Uplsnds,
24c; Orleans, pic. Sales for the day,
1000 bales. Oar market was sCtiEe early
in the day, and Middlings sold at 233 to
&c, but buyers gradually withdrew, and
at the close prices were easier and the
market very quiet, with quotations nOm-
fnsI1y a. 0flOUa-