Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-11-25
FINANCE AND TRADE.
oFFICR OF The DAILY APPEAL.1
MEMPaB. November Il, 1855.

QFFlCH OF THE DAILY
MEAPHB, November Il, 1855. !
FINANCE.
Gold opened in New York to-day at
1870, and closed at I344c. New York
Central opened ST 53Ec; Erie, 400; and
closed with Central 24ic; Erie, SIZE,
In this market there is but little coin
selling. Gold s bough: by brokers 81
New York rates, and sold at an advance
ofI@2c
The active demand for currency yes
terdsy and to-day has caused some tight
ness in the money market, and in order
to meet the wants Of our cotton men
liberal shipments have been ordered and
may be looked for tomorrow or next
: day. TIE scarcity OF small notes has
been 3 matter Of very serious inconveni-
ence for some Days back, and some OF
q basks were compelled to order three
or four days sgo, although having all the
large currency they wanted. The drain
to the country for the purchase Of cotton
gees on stssdily, and the Inconvenience
experienced there for want of small
change may be easily conceived.
Very large offerings Of exchange are
reported, and il is no unusual thing for
buyers to negotiate for covering 800 TO
500 bales at q single purchase. A very
large proportion of this money goes to
the planter, and is taken home to be laid
away for the future, Withdrawing for the
time being at least that amount from &C.
tive circulation. All bills upon New
York sre taken st 30 discount, and upon
outside points st , discount. New Or
leans sight is the same as New York, but
some heavier. Our discount houses
cheek on all points at par.
City bonds are nominally the same. A
broker hsvinZ an order TO ill for plain
bonds wa unable TO buy at sic. Holders
asked 52c, but it was thought they would
split the difference. We heard Of no
sales.
5000 Memphis City Railroad bonds
were offered to-day but were unsold st
noon. Only 8 few OF these bonds were
issGed-not, we presume, exceeding Sl5,-
600, and having but 8 few years to run
should be worth nssrly their face. We
learn, however, that 60S65c are the
nominal quotations.
City Scrip is q little weaker With larger
offerings. a lot Of s45e0 was offered at
8Skc, and would have been closed out at
$50, while We heard of SIC being offered
for q lot Of $1,000 to $1,000, and refused.
Brokers are selling to tax payers at $50
SIC.
County Warrants sre dull and are
tending to lower rates. Dealers are gen.
orally well supplied, and are not anxious
TO buy. The Offering rate ranges from
71@7Sc, just as they happen TO need it.
Selling at .75977c, in large and small
ways.
Police Scrip is scarce, Buying at zoe;
selling at CSC.
The following circular, to Assistant
Treasures and designated depositaries Of
the United States, explains itself:
TREASURY DETACHMENT,
TREAsUREs's OFFICE, WASHINGTON, !
November 10, 1906.
Sir: You will please select from the
United States legal tender notes that you
may have on hand on the receipt Of this,
and from those that you may receive st
any time thereafter, all notes which are
mutilstsd, and in your opinion so much
sOiled, defsced, or worn, as to be unfit
for circulation. Also, all notes OF the
denomination Of $50. II is the desire OF
the Department, as these have been sue
oessfully cOunterfeited, to Withdraw all
Of this denomination from circulation.
You will also retain all notes Issued under
Z the acts Of February Is, 1862, aud July
II, 1852, known as the convertible issue
OF legal tenders, or those bearing upon
their back the legend Of which the fol-
lowing is an extract {" And is exchange
able for United States six per cent.
QN-uaor hnnda rnHa1-no Mo ~ the nIaaa
ure Of ths United States after five
years." II is desirable TO withdraw
these notes 81 speedily as possible, as
this Office is daily in receipt Of letters
from individuals who are still persistent
10 their requests to obtain bonds for
them, although the time allowed for such
conversion has long since expired, IS
the following clause from section 3, OF
the act approved March 5, 1858, will
show: "A8d the holders Of United
st ties notes, Issued under and By virtue
Of said acts, shall present the same for
bonds, as therein provided, on or before
the lst Of July, 1853, and thereafter the
right 70 exchange shall cease and de-
termine.n Yen will then please hold all
the notes mentioned, and advise me Of
the amount, that the same may be
transferred here for redemption, ana new
notes Issued in lieu thereof; OF you may
st any time remit them In sums OF $1,000,
or any multiple of that sum, through
the Adams Express Company, or any
express company connecting with that
Company, at Government expense, in
the same manne as mutilsted fractional
currency is nov forwarded to this Office.
All such remittanees may be charged to
this Office in sccoun as a transfer Of
funds, or you may receive st your option
a nhanE ON Nm W--E d. NIL
delphiB, New Orleans, or San Francisco,
or new notes OF such denomination as
you may designate will be transmitted
70 you IN exchange by Adams Express,
free Of charge. F. Z. SPINNER,
Treasurer OF the United states.