Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-08-16
FINANCIAL AND COEMERCfAL
OEEIoa OF ZEE pAILY APPEAL.l

MKAea1s. Angus. 10. ls5e.
We would call the attention Of our
readers to the statement Of CITY Finances
IN our local column. 1t was made ND tc
he 30sh OF June, but It's publication has
been delayed, owing TO the fact that
committee OF citizens who were to ex-
smine into its correctness have taken
unusual pains TO go over the whole mat
ter in order to give just and accurate
report, which necessarily consumed
much time. The statement il a very
favorable one, and justihss the conf
dence feltin our ability 10 pay off al
indebted1ess by capitalists abroad who
have shown desiTe to invest In our city
bonds-S159,00O OF which have beeu
taken on Eastern account within the last
two or three days. We cannot pass this
matter by without expressing The hope
that our authorities will Instantly insti-
tute legal proceedings TO collect the
amounts due the city from deiinouents OF
all CLASSES. II will be further evidence
that the finances of the city sre looked
after with a vigiIaDt eye. There is no
I reason whatever @hy any one, however
large a property holder he may be,
should be exempt from psyiBg his dues
TO the corporation. We d. not intend to
| let this matter rest until We have sssur-
ances that dsfsnlters viii be made 70
pay up, and we again call upon the
proper authorities for the names of those
who are behind hand that the public
may know them.
f1nia or,auad in NJ - 7
closed at 1885. We quote at l489I44e
buying; selling at l459I451c.
The New York stock exchange. quo
tations at noon to-day were as fol-
lowe: Five tgentiss, coupons OF 'SI,
Ia do 'S2, lS3 do 49, 90; do. '65, III
90 new issue, S; do '67, Il; IO-4Os,
coupons, Sc. Bonds duh; New Tennes
see bonds, 633.
Exchange Is easy with our banks, and
rates remain stesdy-the demand and
supply being about equal. Loans to
merchants are quite common, and dis
counts run from J to per cent. per
month.
There is fair inquiry existing for
City Bonds to-day at soc, but nearly all
offered at that price have been taken.
We quote sales Of s13, 900 yesterday, and
$1,000 to-day at SOC. There may be few
small amounts which can yet be picked |
up at that figure, but very little.
Some orders for Mississippi Central |
bonds have been Withdrawn from the |
market, but ether parties are still anxious |
to buy at 60c for Let mortgage aRd 40c for
"a mortgage. A sale Of 100 shares of |
Memphis and Charleston Railroad bonds |
occurred at sac With disposition on the
part Of the buyer to take more at the |
same rate, but the sale mentioned was |
the only one we could learn OF.
CITY Scrip is very quiet. Ledger bal !
ances are more in favor as they are more
available. Parties holding them can |
check against them or the city 10 sums
to suit, while most Of the outstanding
scrip is ia large and unwieIdy pieces.
We quote the latter at zoe buying, and |
selling at 72G74c, Ledger balances buy
ing at lie; selling at 75976o as to
amount.
County Warrants are dull. Brokers |
vary, however, in their ideas about |
them. Some will pay no more than SOC,
and sell at soc, while others buy at
52a53c and sell at 56@57c.
Police Scrip is in demand at 75@76c /
buying; selling at 7S9s0c.
In the State Legislature Oh Thursday,
Senator Cate offered the following resO-
luton which WAS adopted under sus-
pension OF the rules, and its transmission /
TO the House ordered
De- Il p. II
curing, That the Comptroller Of the /
Treasury Is hereby respectfully instructed |
not to gay any money out OF the Treas
ury Of the state to Railroad Receivers,
for services rendered as such Receiver
until said Receiver has made full and /
complete settlement, and complied in I
every respect with the law Of the State /
pertaining to their duty.
The stockholders in the Nashville and |
Chattanooga railroad brought their |
meeting to Il close Wednesday, says the |
Nashville Dispatch OF Thursday, by the /
election of the opposition board OF di- |
rectOrs by majority OF 1882. The new /
board consists Of e. w. Cole, John NJ. |
Bass, G. NJ. FOgg, John FriZzsll, +. l. |
Jordan, w, HGnter Smith, Thomas g. |
Whiteside, A. j.. lands, Anderson Pow
ers, w. 5. Higgins, John +. Anderson, |
John B. Hawkins, A. Z. Patton, jack
son Pryor and Ben May.
The Board of Directors afterwards pro-
eeeded to organize, and went into the |
election of officers for the coming year,
with the following result: Il. w. Cole, |
President; John w. Thomas, Superin-
tendent; w. A. Glesves, Secretary and |
Treasurer; r. L. Brsnsford, Principal |
Bookkeeper. 10 addition TO the above
named Directors, Henry Cobis and VIM. |
Ct. Weldon represent in the Board the
city Of ChsTleston, John p. King the /
Georgia Railroad and Banking Com
pany, and VIM. Bosom and Thos. II.
Caldwell, Directors on the part of the
State of Tennessee.