Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-09-02
MEMPHIS APPEAL
FINANCIAL AND COMNERGlAL.
OFFICE OF THE DAILY APPEAL
MEBUpHrg Gnufamha 1888 Z

- 49, ,
The month b5gins vita The usual ~stand-stin
in business, consequent upon the collection OF
accounts and the settling ND of last months
transactions.
In the general market there was little move
ment outside the execution ofsDan orders for
supplies.
Checking and depositIng was brisk Al the
banks, without any change in the condition o.
the money market. Bankers Luy New Orleans
Exchange at L-59K discount, and Northern
and Eastern at par, and in selling, the rates are
Adz premium
at 49, The small sums presented here were
taken by dealers at 10 al4S.
City Scrip is hrm at an advance, dealers buy
ing at 7597Se, and selling at soc.
County sciip meets with ready sale 10 dealers
al S54c and is sOtd by them at S. E5Sc.
Police Scrip is in demand at 75855<c, and the
small amounts in the hands OF dea.ers are held
atSoc.
There was no movement in stocks or bonds.
None offered. Quotations from the New York
Exchanges to-day are as follows;
Tennessee bonds, old, CAS-; new, COZ; $50
coupons OF 81, nSS; 90, 49, IS, lOgs; B5,
HES; new issue, 1857; OF 6S, IU1 1910 cou-
pOns, IO5E. Bonds dull.
The New York EUeH3Rg Post OF Saturday SAYS:
Border state rends are steady but dull. The
oniy change we nstce Is a decline of & Der
cent In North Carollnas. rather better feeling
is reported in Tennessees.
AN0 uaA1o Va new GDle0u WEEe received to-
day. One was nom the farm or !. r. Mccall.
Upton county, Tenn, received by PztLitt 4 a.,
and sold by them ST S0c, the grade being Mid
ding. The same party sent 10 the same firm
the nrst bale from Upton county, last season.
but II was nearly two weeks later. EJmonds.
Todd q Co. received from Kyle & Cooper. Pa
noia county, Miss, a bale OF new Strict Mid
ding. This is the second bale nom Parola
county. Il IS on the market.
following communication viii be read
with interest:
saELBT COUNTY, August 81, 1865.
Editor Memphis APPEAL
notices. ia your Saturdays issue, two letters
on the subject Of cotton; also extracts from
newspapers IN regard TO its destruction by the
caterpillar, boll-wOrm, etc, etc, in different
parts or Mississippi. 1t is also feared that the
market viii again open at low prices.
Now, as Tar IS short crops ars concerned, we
can DO nothing but trust 70 a wise Providence
that rules all things. The cotton crop is always |
uncertain Ill frost, al which time a pretty tar
estimate can generally be made. Your CORES
pondent, Mr.. Sledge, speaks OF q short stock on /
hand. Mr.. B. spesks Of the control OF the
prices o. cotton being in the hands OF capftal-
lsts and spectators last season. This is always
the case, 10 a greater or less extent. Yet. we. OF
the South, could have the entire control. pro-
vided We acted as We should, and be cOntented
wiki a sure and safe business. Live and let
The farmer is the man that risks more
AAaL 49, SAANAH uAA II GllAA4Ah1LDnM ElGDa1L. ]
or banker, could be OF Invaluable assist
ance TO him IN this way. suppose 1 carry
a load OF colt on into Aemphis the last Of Octo-
and ind the market TAI, fifteen or sixteen
cents. 1 am compelled 10 have money to nav
tax, must therefore sell or pay the STATE
i've OF nfteen per cent. a month TN the
tax Is paid. We al know it is a trick OF the
SPECTATOR and capitalist 10 get my cotton for
than It's Intrinsic value. Yet 1 must sci.
Or pay The stats the usuTiOUs interest. II NV
merchant was able he would be safe TO take
my cotton o. commission and advance the
money, say one-half or tWo-thirds OF its real
worth. Knowing his safety, he is unable to DO
l. Now, II the bankers would advance to the
merchants their finds, for a fair interest, when
,0ttOn gets up TO a fair price sell, and settle I'D
alisfacJoruy, with mutual benefit to al con-
N order that this result may be OBJ
aine1, the farmer, commission merchant and
K must act in concert. 1heUe need be no ]
only 70 the farmer, and that Is Iessened II
VI act IN good Faith.
I need not say that the more money that is
-ePt Ia The county is u benefit 10 au-farmer.
1erchant and banker. The New Orleans conn.,
lissi0n merchants advertise that their agents
{ the dtareut stations on the Memphis and
hariesJO1 Railroad VIII make advances on ali
OJton shipped TO their houses. As commission
lefchGnts are generally poor, but honest men. 8
presume The bankers furnish the means to
upon COTTON, and do q safe business.
~ not the same thing in Memphis unless =
Is a shaving shcpl and ifso, we cstton-grow-
rs had best ship our cotton there when The =
rlees are low Ia Memphis. The corn crops are 4
2ore than an average IN Shelby county, and
ott0n promising HnO disaster before frost.
THO. Il. TODD: