Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-12-04
FINANCE AND Trade
OFFICE OF TIE DAILY APPEAL.l
MEMPaLs, December 3, 1855. !

UTduCuSs Ul IthNSs
Exchange at some Of our banks is short
but at others the supply is abundant.
Rates in consequence vary. All eastern
bills ere taken at 10 discount, and
New Orleans sight at to ] discount
Selling at par to 81 per $1,000 discount &c
cuotomers, and between bankers at I dis
count. The ccunler demand is light
upon sIl points.
Gold in New York opened to-day at
1S5 snd closed at 1885,. Erie opened
SSR n. Y. Central lS32. Erie closed
SSs. Central, I341.
County Scrip does notseem to be affec
ted by the hight demand now coming from
tax payers. Spectators are upon the
market and sellers find no trouble in
sailing at IS to 76c. Some brokers, how
ever, prefer TO hold of fer a few weeks
aud bid but 74c.
City Scrip is weak but not lower than
yesterday, and some brokers have gone
of the market. We heard Of sales at so
oslo. to dealers, who resell st S29S3c.
in g large and small way.
Police Scrip is steady at 90992e. buy
ing. Selling st 94995c.
School Scrip is firm. Dealers buy st
S59S7c. and cell at 90995c. as TO amount
Holders Of City Bonds, as the time ap-
prosehes to draw the January interest,
are less disposed to sell. q sale of s1O,-
900 paving bonds, occurred to-day at sic.
snd a fsir inquiry was reported at 5149
SIC. for plain bonds, but no sales 80 far
as we could learn.
Brokers are sgsin compelled to make
shipping margin upon gold in conse-
quence OF the falling off in the counter
demand. Offerings are improving slow ,
ly. Buying st l349I341c. and selling at
1S59lS6c.
The time on which debtors NAV be
discharged from their debts by filing Pc
titions under this law has been changed
once, and it is now generally understood
when it does expire. 1t will, therefore,
be 8 matter Of public interest TO beth the
creditor and debtor, to know that unless
he petition is filed by the debtor during
he present month, be cannot be dis.
charged from his debts, unless his estate
pays fifty cents On the dollar, as the fifty
per cent. clause applies on all petitions
filed on and after January l, 1869. Such
as file petitions this month may be dis
charged, whether they have any assets
or not.
The Hudson River Railroad Company
has just resolved to issue S21, OO0, 600 new
stock, to take up sn equal amount of the
bonded debt which natures February l.
the cid stockholders to have the privi-
lege Of taking the new at par. The trans
fer books will close January 10, and re-
open on the 2lst.
We publish the following communities
ton in reference to our article of yester-
day. We gave the item merely as q
rumor, and hope that the following will
be entirely satisfactory upon the subject
Editors Memphis Appeal:
In your issue of yesterday (commer-
cisl column l find the following para
graph:
rive learn that some Of the city off,
GERS who inbabit Exchange Building are
very much incensed because they were
not invited to attend the recent supper
given to Hon. Mr.. Lsftwich, and that in
the intensity Of their wrath and morti-
fcatiOn, they are threatening investiga-
tons of various kinds. We give this as
mere rumor upon the streets, and hope,
il any deTelictiOn OF duty upon the part
Of those who have u city finances in
charge can be brought to light, that il
will be done without delay. We have
at all times supported the views Of the
City Finance Committee, but il they
have misappropriated City Bonds, or
have Issued them to the detriment of the
interests OF the city, we will be equally
SIS prompt IL d%enouncipg their action"
Tocorrect what yon state to he 8 mere
rumOr,N Il ia justice to the City Fl
nRnoa Gor1 n fffna 81 will eNa n that avarr
city officer il Exchange building, whom
l have seen, denies the imPutstions con-
tanned in the foregoing paragraph.
There may have been some express
ions Of regret upon the part of city off .
GERS that they were not permitted TO !
enjoy the hOnOTs conferred upon the :
chief executive officer of the city to d,
whom they ai feel very much endeared, ]
both for his ability in the administration c
city affairs and his many kindly cour- .
tesies 10 them, but as 10 any threats OF :
Investigations, or even an insinuation Of J
unfairaess Of any kind upon the part o.:
the Finsnce Committee, the "mere
which you have seen proper TO
publish, isi I an satisfied, without the
foundation ia fact. Being the
City Treasurer, 1 profess to be somewhat
SIMILAR with the Issuance Of city bonds r
with the in which they -
have been appropriated, and l can say
that the views OF the Finance Commit
as indOrsad By the Board Of Alder
men, and which / presume are familiar
to tbs public, have been fully and fairly
carried cut, and 1 will show any gentle 4
man who viii inquire at this Office, how y
every bond has been disposed of. and
how accounted for. W. Il. BRIDGES.
l was not in the city when the enter
bainmeDt above referred to was given to
our worthy Mayor, and know nothing of
The troubles indicated in the above arti- I
lie. 1 can say that 1 fully indorse what =
has been written by Mr.. Bridges.
R. J. MORGAN.
A meeting Of the policy holders Of the
southern Fire Insurance Company, of .
Nashville, was held in Knoxville Oh the Il
'4th ult. The Committee appointed at a
meeting reported in substance
hat The policies of the Company amour g.
ed to $500, upon which they had re. -
$4,000 in cash and SPA 900 in =
notes. They hsve now made a call for
ifty per cent. Of those notes. This 6fty
yer cent. added to the $780, 900 in cash \
makes the round sum Of $3I7, $50! by
They published to the world as long "
go as January l, 1868, that they had an
accumulated fund Of 5000, coo; and as
ate IS August last they published q list -
4 losses paid, amounting to the insiguif-
ant sum OF some SI5, 600. :
Assuming says the Committee that e
hey commenced without any cash CAPT.
al, and that their statement as to sccu- =
lulated fund was wholly false when 4!
lade, we have reliable data upon which VII
predicate a calculation, which leads al
-resisubiy to the conclusion that the
resent effort to extOrt money from the I
olicy holders is q deliberate, premedita- -
ed attempt to sTindie. More p~articu-
srly are we OF this opinion when the fur.
1er fact is taken into consideration that
)me, If not ali, of the managers of the
ompany are the same parties who, some
ears since, vIctimized the people of the
.Orthwest in 8 similar manne n
Legal advice has been secured and Il In
as resolved to msmorializs the LeeisIa. =
now in session, to take some action R.
pom the matter, as well as to reduce the n
Y IN EnFQfUn Qnn4nansau