Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-11-22
FINANCE AND TRADE
OFFICE OF TIE DAILY APPEAL,1
EEMRER November q, 1858.


AAI&ALG
More liberal offerings Of exchange
characterized the money market to-day,
aud the counter demand has not,fsllen
of. Rates are steady at t9s discount
buying. Selling st par. New Orleans
bills are bought 81 s@4 discount, and
cold ct par to discount.
In anticipation OF an active cotton
market next week, our bsDks are not
loaning on collatersls as literally as they
did early in the week, bat call Iosns can
still be effected on first class security at
the usual rates Of interest.
6old in New York opened to-day at
1914 and closed at I34k.
Exchange remained steady through.
out st Yesterdays quotstioBs. Stocks
declined during the day. Erie opened
at 43t and closed at 404. New YORK
Central fell ron 125 az the opening to
1927 st the close.
GJld trsnssctinns in this market were
very light. Buying at New York quota
lions, snd selling st1@2e advance.
City CoBds are inclined to be dull. In
the absence of sales we quote them non-
insIly, 5l4@524e as to amount and char
acter Of the boBd. Plain srs held st the
outside quotation, while Paving bonds
oosld, We think, be bought 81 5llo.
City Scrip is very Arm. A sale OF
$4,000 occurred between bankers lsst
avening ct s3c, bot SAC could be real
ised today on any amount, say from
S50Q0 to $4,000. Taxpayers are accom-
mod4tea at SoG6Sc.
OF County Warrants We could learn
but little to-day. Holders are generally
firm st 74975c, but buyers do not take
mold. Tsx-osyeEs find it hard to bny
under 75@77e.
Police Scrip is scarce. A lot of 5000
was offered to-day at SOC. Brokers sell
at csc.
School Scrip is scarce and nominal.
The report Of VIM. McLesn, Esq,
County Tsx Collector, Will be found in
another column. Mr.. Mclean hiss
proven himself an energetic and faithful
officer, aud his report reflects credit Dot
only upon himself, but upon Messrs.
Miller and Carroll, his clerks. We call
the especial attention of cur readers to
the report, which shows the collections
to have been isrge-lsrger than eveE
made by the county to the same date in
any previous fiscal year.
A Montreal banker has got up So origi-
nal scheme for Kidding Canada of the
American silver, witch Is regarded as a
nuisance there. He proposes to buy up
and export 81. 100000 Of it, II the mer-
chants and s~aopkeepers OF Canada will
each contribute 81 per week for forty
weeks toward the expense. American
silver is at a discount Of 4 per cent. at
the BANKS in Canada, and though there
have been several attempts to get 1t cir
culated st q discount, the competition Of
trade makes it pass with the traders at
nearly par, so that the shopkeepers lose
the 4 per cent. The proposition is to buy
it in ct y per cent. discount to the
amount Of $4,000 per week, and export
it, the conditions Of the subscription be-
ing that $4,000 per week shall be shiDped
cut Of The country for forty weeks, the
each week to be furnished with
the receipts OF the bank and express
company through which the shipments
sre TO be made. The case is presented to
the shopkeepeTs, who receive, say s4O0
per week In American silver, on which
lose now nearly 4 per cent, as fol-
The lose On this $500 IL now SIG
per week. II the Montreal banker be-
giBs to buy up $50, 600 per week, at p
discount, it viii soon appreciate the sill
yer to that discount instead OF 4 per
cent, snd thus be saving of 6 per cent.
per week. II is held by the advocates of
The scheme that the rate Of discount
would continue to decrease as the export
ing went on, until the surplus was alto
removed. The balance remaining
Fould then be only a oouvenienee, and
lot 8 nuisance, as at present.