Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-10-13
FINANCE AND TRADE
OFFICE OF TIE DAILY APPEAL,l
MENPHE. Oe.Qber p 1917
FINANCE.

The movement in money today was almost
wholly restricted TO operations in the
way OF Exchange. The offerings Of cot
ton bills we're lsrge-so much so that
some Of our banks declined taking all offered,
but such as are presented by regular customers
Al any OF our banks, Is provided Tor without
difficulty. shipments OF currency come in
daily, and are footing up Into the hundreds OF
thousands, showing that At least every effort Is
made to accelerate the movement Of cotton,
our present strength.
All Cotton Bills are taken at Le discount,
while So exception would be made in the case
OF a small amount on New Orleans, which is
rather scarce. Selling on ali points at par.
Bonds and Stocks are neglected by our regu-
lar banks 10 some extent, partly from the want
OF orders and partly because currency is more
in demand for other puI poses. street brokers
have operations OF this kin al TO Themselves,
but so Ear as we can lesrn, are doing very little.
CITY and Navy Bonds are nouinaIly the same
a. last rerOrted. A holder OF come Memphis
and Charleston stock felt the market to-day,
but the Offering rate did not suit, so he with
drew.
In City Scrip there is but little TO report. The
amount offered by one of our banks, and al
luded 20 last Friday and Saturday, not yet be-
ing absorbed. has kept the market down so
that our broken are neither buvfuz az selling.
except in a small way. The purchasing rates
by dealers We quote as ominal Ceiling at Y
G7sc
County warrants srs in demand at 56aSJc
buying. Selling al 60965e. as 10 amount.
school and Police Scrip run along very wei
together. Buying at soc. Seliugat Sc.
Gold has been tending downward al the
week, and closed to-day at 1879. During this
wnv movement in New York, the Treas
ury Department sold about two aud . half
millions, in oder. as stated, 10 obtain legal
tenders for current disbursements, but nearly
al who have been inoonvenieneed BY the close
rnnDeT mnwERf- naa1ara that sba a.rav -
mRde Tor other than legitimate objects, and all
acknowledge that when such sales are made
the fact should be publicly announced before
hand, SO that al who desiie may avail them
selves OF It ASH Is now, a few spectators
make considerable profit on the Information
they sre able 10 obtain IN a private way, as TO
the future course Of the Treasury Department
IN such matters. a lew small sales occurred
here 81 lS6SIS5Hc, with no demand except for
shipment.
In June last Postmaster General Randall ad-
Nertlsed Tor proposals for furnishing the Gov
eminent with postage stamps for q term Of
years The COMMITTEES OF experts appointed
Tor the purpose decided in favor OF the Nation
Al Bank Note Company. OF Rev York, and on
Saturday last the Postmaster General awarded
the contract TO that company for 4 term Of
four years.
The tive cent stamp represents n postbov on
a horse, running At fun speed, illustrating the
fact that this stamp is mostly used for dispatch
letters.
OF the three cent stamp there is g finely en-
gravel locomotive. This il surrounded by
lines Of Lightning, indicating the speed with
which Letters are carried on which this stamp
Is used.
The i've cent stamp has an excellent portrait
Of Washington.
The ten cent stamp has an excellent micro
sc9pieal copy OF The painting Of the signing OF
the eIarstion OF Independence, bringing in
the rOtuCda at Washington.
The twelve cent stamp, mostly used for for
eign postage, has a picture OF p steamer At sea.
The thirty cent stamp has \ CODY OF a paint
Ing OF ths surrender OF Burgoyne, hanging in
the rounds OF the nauonsl capitol.
The engravings on these stamps are remark. |
able copies OF historical pictures. and bssr the
test OF micrcscOptcsl examination. The extent
OF the award may be stimated bv the fact thai |
over l,0o,l 90 stamps are used daily.