Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-06-12
FINANCIAL AM COaMERCIAL.
OFFICE OF THE DAILY APPFAL.l
MEMPHIS, June IL, 1868.


The weather to-day was warm, the
sun darting fierce rays from an uncIoud-
ed sky, but thanks to fair breeze from
the West, shady places were not all I'M
comfortable, and as business Of all kinds
presented no enlivening features, there
was ample opportunity to enjoy them.
Leaving aside the moderate hustle of
promensders on Main street, our business
thoroughfsres presented rather lifeless
aspect sud at the banks there was little
or no movement of consequence. Money
matters continue easy and very quiet.
In consequence Of moderate purchasers
of railroad and municipal securities on
Eastern and Northern account, Ex-
change is in rather better supply, result
ing in reduction Of the shipments of
currency heretofore necessary to keep up
a supply. At the leading banks the cur
rent rates for Northern and Eastern cit
ies-are par buying, and premium SELL
ing, excepting New York, on which
point the selling rate is premium.
Gold vas very quiet and in fair supply
IN the hands of bankers and brokers, at
40, at which rate there seemed to be an
absence of buyers. Small amounts pre-
scented at the counter passed st I3S! to
l39 In New York the metal opened at
1884, and closed at 14O.
County Scrip is dull, dealers Offering
zoe and asking Csc.
Police Scrip was unchanged-nomi-
naIly the same as quoted yesterday.
In City Scrip there was also little move
msnt, leaving the market rather indefi-
mite, but the feeling is generally one of
frmuess, and holders can sell readily to
dealers at 75c, but there is little offering.
City Bonds, ex-July coupons, are in good
demand, under orders from New York,
Boston, Baltimore, etc., as we'll as from
local spectators, and We learned of trans
actions to-day amounting to SOS, 900 at
81 to 53l. The tendency is decidedly up
ward, and sellers are scarce.
Accounts from the country are still
very encouraging, with regard to the
growing crops, and confidence in q good
time coming is steadily increasing.
In regard to business and money mat.
tiers in New York during the past week,
the Commercial BUllstia Of Monday
says:
The controlling influences in the finan-
cial markets arising fron the easy rates
for money have continued through this
week, and Governments, stocks and
bonds have all advanced in
price. The principal activity has
been in Governments, aDd these
from the various causes mentioned from
day to day in our financial report have
sold very largely. The money market
will probably be easy till the preparation
for the July statement by the banks
makes 10 somewhat closer again. Last
year IN the corresponding week the
market was tight, a very remarkable
stringency for that season Of the year
was brought on by the action of the
Treasury in selling bonds and increasing
its currency balances. Governments and
Railroad Stocks were unusually firm IN.
der the higher rates Of money, but was
sustained by extraneous causes.
In the market for general merchandise
there has not been single unusual fea-
ture. Prices have in some cases shown
weakness, such having been the case in
provisions and also in cotton to the ex-
tent of half a cent. The leading articles
Of groceries have been firm. Dry goods
have hardly improved at all, and prices
are now considered low.
In the corresponding week Of 1867
prices generally tended downward, ill.,
fiUenced to q certain extent by the close
ness of the money market. Bresdstuffs,
cotton, pork and sugar were all lower
Dry goods improved a little in the de-
mand but not in prices, the principal
cause of improvement seemed TO be the
warmer weather.
Late advices from England do not in
dictate favorable reaction in prices Of
cotton. A Manchester paper says:
Affairs generally appear to be very
uncertain, and in some respects an actual
stagnatiOn is apparent. In the spinning
department the system of short time has
been commenced, and the following is
the latest report with regard to the state
Of affairs therein: Mr.. Seeds Derby
sheet mills is running three days week;
Mr.. w. Numbers Victoria mill, three
days; Napier's Wellington mill, four
DAYS: Cock shuth's Penwortham mill, !
four days; Edmund Gardeners mill. four
dsys, and Dixon's mill brske down q
few days ago, aud it will take at least
fortnight TO repair the damage, the men
being OF course Out OF en- piOyme06 IN the !
meantime. CromptOn Ashton mill Is |
now stopped, but whether 1t is from be-
ing overstoeked is not known, Deither
has it been ascertained when work will |
be resumed. Reese Brothers, Fylds |
Road mills, are working up preparatory |
TO a stoppsge. At several mills many |
psirs Of mules have been stopped through |
supeIfluity of stock. Danson's mill,
Aqueduct street, Is also closed, In eonse-
ouence Of stock being up, and when |
work will be resumed Is unknown
Cotton was quiet at the opening to day
in Liverpool. Uplands, Hid; Orleans,
lad. and at noon was dull and declining, |
with quotations nomiRally unchanged. |
Sales, 5000 bales.
The New York market at the opening |
was inactive, with prices dropping and |
nominal. Low Middlings, 2Se; Mid
dlings, 299c; Orleans, SOC; Good Mid
dllngs, Sic. At noon the market was |
dull and nominal, and at the close was
fiat, entirely nominal and weak. There
was better inquiry here to-day. The
agents of Western spinners picked up a
few lots upon basis Of 2s to este for full !