Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-06-24
FINANCIAL AM COaMERCEAL.
OFFICE OF THE DAILY APPEAL. [
limo 1Erg

/ MEMPHIS. June -, Aouos J
Business to-day was rather better in
the general markets, owing to the orders
received by local packets.
Money is about the same, and Ex-
change continues to show signs of heay-
mess, though rates have not varied since
our last, nor are they likely to for some
time TO come.
Owing to light offerings Of stocks and
! bonds the transactions to-day we're light.
/ We continue previous quotations. on all
| except NJ. & &. r. r. stock, for which
SOC has been refused. Memphis and
Little Rock LIST Mortgage, 40c; Navy
bonds, &c. Memphis and Ohio
Railroad stock, Zoe; LIST Mortgage
bonds los, goo; % Mortgage bonds IS,
zoe; Mississippi Central Railroad bonds,
lst Mortgage, 81 to 5Sc; I'd Mort
gage, 10 to Ale; Mississippi andTennessee
lst Mortgage, soc; Mississippi and Ten
nessee % Mortgage, 33e.
! Gold opened in New York at l40s and
closed at 14O3c. The tendency here is
upward, brokers advancing their buying
rate from I39 in the morning to 1888 to-
ward the close. Selling at 14lc for small
amounts. Coin interest to the amount
! Of $50, COS, 900 on Governments natures
on the 1st Of July, considerable por-
| ton OF which viii be exported, as our
bonds, unfortunately, are held largely
abroad.
City Scrip remains very quiet, with
| none worth mentioning upon the mar
ket, except that held by brokers, who
will not sell at less than so to S2c-in-
/ deed we doubt that any could be bought
at the inside figure. The July interest
will be promptly met in currency and
City Bonds are in consequence stiffen.
ing up daily. Buyers can be found at
soc, with rather light offerings.
County Warrants are not as setive as
other promises TO pay. There is very
little, if any, speculative demand, and
brokers who sell at SO to 65c are slow to
buy at SIC. Some will go no higher
than Soc.
Police Scrip is steady at soc buying.
Selling at S5c.
In yesterdays commercial column of
cotemporRry we find the following:
"a meeting of the merchants was held
yesterday, at the Cham Der Of Commerce
rooms, in relation to the improvement
on navigation. Important points were
discussed, and resolutions passed."
As the meeting did not come off, and
was like nearly all of those called at our
Chamber OF Commerce. fizzIe-the
important points discussed and the
" resolutions passed We're purely mag
mary. The Importance of the subject,
however, may have justified our cotem-
porary in supposing that even the Rip
Van Wrinkles Of Memphis might be
brought together for few moments TO
exchange views upon the matter. The
result proves that 1t won't do to "pros-
pectn our business men as can be some
times done with steamboat.
At meeting recently held in Boston
by an association called the National
Association of Cotton Manufacturers
and Planters, the President, A. A. Law
renee, of Boston, on taking the chair,
said that the production Of cotton cloth
had increased rs per cent. between 1850
and 1860, or equal to 46B yards for each
individual in the country in the latter
year. He estimated the number Of spin
dies running during the past winter at
6, 400, 600. The capital invested in cot
ton manufacture ia the United States
be puts at $3.50, 00e. 600 in all. He con-
clnaed with:
Gentlemen, let US push forward this
organization. To the manufacturer We
can promise reliable information. which
will enable them 20 extend their hI,Si-
ness with diminished risk. We can
promise them protection against uniust
claims for patsnt rights sud protection
against hasty and unjust legislation.
To the c0tton growers We can prom
Use "a Increased supply of capital, and