Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-06-03
FINANCIAL AM COaMERCIAL.
OFFICE OF THE DAILY APPEAL
AEr-rnurQ lima . 1909

With abundance of currency in the
vaults of our banks, they report money
matters easy; but ask the borrower, he
who wishes a little accommodation for a
few days, let the amount be ever SO small,
and he will tell you that money never
was closer than at present. It is true,
this is not the case with all borrowers,
but it is the general rale. There is much
the same feelings among brokers as per-
vaded the old Frenchman's mind when
learning that there was some doubt as to
the stability of the house with which he
! deposited, he presented himself at the
| counter and demanded his balance. II
was counted out to him, but be refused
to withdraw it, saying, "Ha! you have
him, eh9 Well, / no want him. You
no have him, then I want him." Those
who require no assistance have 1t thrust
upon them, while those who need 1t are
denied. Rates Of exchange are the same
as on yesterday,
Gold opened Ia New York at 1885,, and
closed at 1901. We quote at 1885, to 1895
buying; selling at 40 to l404c.
City Scrip is much the same as on yes
terday. Spectators want to break down
the market, and to that end are holding
! off or offering such figures as sellers will
not entertain. This money is destined
at no distant day to reach IS or soc, and
we earnestly advise those who are able,
to bold on to what they have. Just so
soon as the changing of scrip into bonds
sets In, a very strong effort will be no
| doubt made to rush the former up to par.
Wequote ominally-buying at 70 to 73c;
selling at IS to Soc.
County Warrants are dull at last quo
tations, with more sellers than buyers.
The only demand comes from tax-pay-
ers.
Police Scrip is in fair demand; buying
al "a to s5c, selling at IS to soc.
No Liverpool cotton dispatches to. day.
The New York market opened quiet but
steady; Low Middlings, 293c; MiddliDgs,
Gle. At noon 1t was dull and prices
nominal; Orleans, s02c Good Middllngs,
SIC. There was DO change at the close.
Sales, 500 bales, part Of which was Mid
dlings at sole.
Our market was quiet throughout.
Middllngs would not sell at q little better
figure than CSC, while the msjorlty of
holders ask 29c. We quote Mlddlings
nominslly IS to 2s4e.
COTTON STATEMENT.
OF COMMERCE.,
MEMPHIS, June 2, 1895
stock on hand Sept. /, 1867. .....-.--.. l.0S0
Received to-day-.-.......'."- ~ "a,
ss3.i4
Exported
Exported preytously~----...~s-zoz85S oz,Io
Staek on 100
TIE e0tton crop of the United States in
1858 via. no doubt, be much larger tina
that Of 1867, owing to the probable re-
movaI of the cotton tax and other causes.
India will probably equal her crop 81 last
: Brazil will largely increase hers,
and the accounts from Egypt and Turkey
are encouraging.
We dnd the foregoing among the clip
pings OF ssveraI Of Jul exchanges. The
Hfnsi eieguse - is rather equiv0cal. To
whom are the accounts from Egypt and
Turkey encouraging? To on planters2
II so, il wouh be that there Is q prospect
of a failure, but such we Imagine Is not
the case. 1t is highly probable the rival
production OF cotton, or 80 it has been
developed, the great excess Of production,
will continue To mark the industry of
india, Brazil, Egypt aud Turkey, aver
all Of whom the United States formerly