Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-06-14
FINANCIAL AM COhMERCIAL.

OFFICE OF THE DAILY APPFAL.O
MENPHls. June Is. 1858. (
How long will the present quiet state
Of affairs IN our money market cOntinue2
is now the leading question in financial
circles. Everybody is hopeful in refer
ence to the coming fall business, bat will
the grain crop which comes in earlier
than cotton be of such magnitude as to
cause any noticeable change in cur af,
fairs? Money is easy everywhere as
we'll as in Memphis, and capitalists all
over the country find 1t difficult to get
employment for their spare cash. At
the same time so much distrust has per.
vaded the minds Of our people that many
who otherwise wsuld be free lenders, are
shy even of good paper, and prefer to let
their money lie ingloriou,ly idle than
let it out of their possession.
In EXCHANGE there is bat little doing
Rates are steady. Buying on New York
at par to lc premium, and on New Or
leans at le discount. Selling on tbs lat
ter place at par 90 New York at e. pre-
MUM, and on st. Louis, Louisville,
Nashville and Cincinnati at /; premium.
Gold was steady in New York TO- day,
opening and closing at 14Os. There were
no sales Of note in this market. Dealers
buy at 1881 to 1892, and sell at l403.
City Scrip is quiet. Dealers offer 75c,
aud sell at 70 10 S05. Tie demand is
very fair, and purchasers could be found
for large am 1uats at the ORsrlug rate.
County Warrants are dull with no
speculative demand. Brokers buy at
Soc, and sell ST 90 to 953, as to amount.
Police Scrip is also dull A few brokers
are off the market. We quote at soc,
buying selling at $50.
There is official authority for stating
that the internal revenue for the fiscal
year ending Juae Both will be less than
one hundred aud ninety million dollars,
which is thirty-five millions less than
Rollins estimated the amount In his re-
port Of December, and nineteen millions
less than MeCullOch's estim ate. Whisky
frauds are the main causes.
By exchange with England, France
gets for eighty dollars in silks, eOttons
which would otherwise cost her ninety !
six dOllsTs-a handsome gain Of twenty |
per cent /; England gets for oOttons cost |
ing her one hundred dollars, silks which !
would otherwise have cost her one hun |
dred and twenty dollsrs-another hand |
some gain OF twenty per cent.
Two years ago, Smith Eastman, OF |
New York, operated Ia pork, flour, beef, |
etc, running the price up to an out |
rageous figure. He made money, and |
poor folks suffered eOnsS quently. Last |
week he died in the Hartford Lunatic /
Asylum.
Fast freight ears have recently been |
transported from New Orleans to New |
York, a distance Of 1875 miles, ia six /
days running time. The trip was ac-
eomplished al rate Of speed never be- |
fore attained, but which, v it'll the iE- |
creased facilities for freightIng, and the |
improvements Of the roads, it Is expected |
will soon be greatly increased.
Laramie City, the farthest western city |
on the Pacific Railroad, is only y week or |
two old, yet 1000 lots have been sold, 81 d |
there are six hundred houses and stores |
in course of erection. Laramie has fine |
water power, and the Union Pacific Rail- |
road Company has decided to locate car |
shops and railroad wsrks there. We see |
it stated that $4,000 worth OF elegant |
furniture has been ordered by the COM !
paDy ia New York, to furnish the Raj |
road Club House at Laramie, for the d. |
rectOrs and commissioners, who will |
spend the summer there with their fam
lies.