Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-11-23
PIAAACE AND A
OFFICER OF THIS DAILY APPEAL,l
MEMPHIS. November y, 1858 !
FINANCE.


More liberal offerings OF exchange
characterized the money market to-day,
and the counter demand has not fallen
of. Rates are steady at 4Ss diseoun
buying. Selling at par. New Orleans
bills are bought ct GOA discount, ano
sold at psr to ! discount.
In anticipation OF an active cottor
market next week, our banks are not
loaning on collsterals as literally as they
did esrly In the week, but call losns can
still be effected on first Glass security at
the usual rates Of interest.
told In New York opened to-day at
lS44 and closed stl34R.
Exchange remained steady through
out at yesterdays quotations. Stocks
declined during the day. Erie opened
st AT and closed at 4O3. New York
Central fell from lbs at the opening to
l225 at the close.
Gold transactions ia this market were
very light. Buying at New York Quota
poDsr and selling stI@2c advance.
City Eonds are inclined to be dull. In
the Absence Of sales W. quote them nom
tnsily, 5l3S52!c SIS TO amount and char
aerer Of the bond. Plain are held at the
outside quotation, while Paving bonds
could, We think, be bought at 6IIc.
City Scrip is very firm. A sale o.
5000 occurred between bankers last
evening al S3e, but Sac could be real
iseo to-dsy on any amount, ssy from
5000 to $4,000. Taxpayers are accom-
mod-tea at S69sSc.
OF County Warrants we could learn
but little to-day. Holders are generally
firm at 74975e, but buyers do not taN
hold. Taxpayers find it hard to buy
under 75@77c.
Police Scrip is scsrce. "A lot of $500
was offered to-day st zoe. Brokers sell
at e5c.
School Scrip is scarce and nominal.
The report Of VIM. Mclean, ESQ.,,
County Tax Collector, will be found in
another column. Mr.. Mclean has
proven himself an energetic and faithful
officer, and his report reflects credit not
only upon himself, but upon Messrs.
Miller snd Carroll, bis clerks. We cali
the especial attention of cur readers to
the report, which shows the collections
TO nave been ~large-laTger than ever
made by the county to the same date In
any previous fiscal year.
A Montreal banker has got 10 az origi-
nal scheme for Kidding Canada of the
American silver, which is regarded as g
nuisance there. He proposes to buy up
and export 100000 of il, /! the mer-
chants and shOpkeepers Of Canada will
each contribute 81 per week for forty
weeks toward the expense. American
silver is at s discount OF 4 per cent. at
the banks in Canada, and though there
have been several attempts to get It cir
culsted at s discount, the competition Of
trade makes it pass with thu traders at
nearly par, so that the shopkeepers lose
the 4 per cent. The proposition is to buy
it in at 2! per cent discount to the |
amount Of $4,000 per week, and export
IL, the conditions Of the subscription be-
ing that $4,000 Per week shall be shipped
Gut Of the country for forty weeks, the
public each week to be furnished with
the receipts OF the bank and express
company though which the shipments
are to be ma6s. The case is presented to !
the s~hopkespsrs, who receive, cay 500
per week IL American silver, on which
they lose &W nearly / per cent, SIS fol-
lows: The loss on this 800 il now si6
per week. II the Montreal banker be-
.giEs TO buy up S50,000 per week, at q
discount, it will soOn appreciate the sill
yer to thst discount instead of 4 per
cent, and thus be assving of 8 per cent.
per week. 1t Is held by the advocates OF
the scheme that the rate Of discount
would continue to decrease SIS the export
ing went on, Until the surplus was alto
gether removed. The balance remaining
would then be only 3 convenience, and
not 8 nuisance, az at present.