Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-01-29
FINANCIAL AND COMMERCIAL
oFFIoE on &c - APPEAL.

MEMPHIS, January =, i60o. }
The money market for the week hs;
been very quiet. Currency has been
more abundant at our banks, but there i
no relaxation whatever In the scrutiny
with which our discount houses lock into
business paper when offered, which L.
however, a matter of rare occurrence
Cotton bills are offered very freely and
are taken at J to &c discount on Ne'
York and outside points East, whilS
; New Orleans sight is taken at Z to &c
discount. The checking rate Is par on
all points, with exceptions only on Ne"
Orleans. which is held at 3c premium
with but a light demand.
The political aspect Of affairs during
the week has kept the New York gold
room in q state Of excitement, and G.
.sat merket was sold " Short" the pre-.
MUM ran up during the week to l4l &c fl
the general rush to cover sales. Thii
market has been quiet, and transaction
light. There is nOcounter demand, and
dealers are consequently compelled &C
keen q large shipping margin Of Eastern
quotations. The New York market to.
day opened at 14llc, and at noon had
advanced &c. Brokers buy at l3S1c e
1890.
CITY Scrip has stesdily advanced
during the week, under e strong specuia.
tive demand, which is participated in by
outsiders as well as regular dealers,
Among the sales to-day we note that Of
$500. between dealers, st 4Sc, but the
counter rates are 40 to SOC, selling.
The market for County Warrants IS
very much depressed. There seems 70
be a general impression that there has
been a large over issue, and dealers are
very shy Of it. There lie no quOtable
buying rate, but brokers are selling st64
10 CSC.
Police Scrip is In demand at 81 to S3ci
buying; selling at IS to soc.
Our LIST Cotton review closed with
bnvers offering Is 10 Isle for Niddlings
THE week opened with Uplands in L!v-
oooI sad orleans I'D to Sd, while The
Nsw York market wss heavy at IN
cbengs5 quotations. The former mar
tat wss aetivs on Thursday and prices
advanced ID on all grades. New York
responded by an advance TO l't olI3e
for AliddIings, and our market became
active and closed with 2 tendency 10
better prices. This feeling in the East
.rn markets continued on the following
dav. and prices ia New Nork again adj
Vsnced. Middlings closing at l73 to lie,
vbile our market was excited at l6l 70
1s3c. Ga Saturday the Liverpool mar
ket was active throughout, and closed st
full figures, Uplands Il to 7sd, Orleans
6 n sd. Niddlings on this day in New
York closed with an upward tendency /
Middlings, IS to Isle Orleans, lo4 to
Ig.. There was no change on Monday,
and Cur market closed firm st Il 10 l7tc.
The Liverpool market at the opening to
was active at unchanged quota
tons. and at noon WAS neminally IN
changed. It closed the same with sales
for the day, y. 900 bales. The demand
in New York at the opening was mOder-
tie and prices firm. At the close the de-
was fair at lower prices, though
were unchanged. Sales for
he dsv. 1000 bales. The difficulty Of
DtEDtuE 81 new LDlhf il NLoSa~1SN
be scarcity o. tonnage, has a dsPress-
no effect on that market, as is shown by
he difference in the tore Of dispatches
from that market when com
AIRED with those Of Liverpool. The
tock in this market for the week has
formulated, partly caused by the bad
during the week, and partly
wing to the fact that our msIket has !
dvsuced 50 rapidly taat there is no
margin between THE sud the New York
,arket which would justify ~transao-
ons. Many spinners have withheld or s
zrs. because they can buy at lowerTates f..
sswbere. This is especially the case in
ne cottons, which Rre scarce here ana
sewhere. To-day the market Yves firm :
very quiet. Holders were asking
.ssterdsy's figures, while buyers were :
lable to reach their views. We quote
1minally a. follows: