Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-10-15
FINANCE AND A
OFFICE OF THE DAILY APPEAL.t
HENPHs. Oetober II, 1888
FINANCE.

EAAANGhs
IN money matters there is but little we car
refer 10 to-day which viii interest our readers
Currency, though daily arriving in largS
amounts, is kept well down, so that our banks
. may all be said to be running very close. Ap-
plications for call loans are falling of, so far as
one class OF our merchants is concerned, al
least. We allude 10 the cotton men who are
now receiving and selling fast enough 10 sup
ply all the wants of their country customers
We are glad to notice a d sposition on the part
OF our planters TO forward sufficient cotton u
pay mp their debts This relief to the mer-
chant is very acceptable at this juncture, and.
in fact, were it not for II. oar merchants would
be ruined.
Gold opened at Isl, destined &c, and sgsln
advanced to l33L; az which It closed. lS5S
1857 were the buying rates IN this market.
Stocks and bonds are in some demand. We
quote a sale OF Sl5,Q00 IN Mississippi and Ten.
nessee Railroad STOCK ST 94l0c. a round lot OF
Memphis and Charleston stock was also sold
during the day, but we could not learn the
amount or the figures paid. City Bonds are
also IN demand, bat the rates are pominal.
city Scrip was better to-day. The lot thrown
on the market some days ago BY the jackson
Insurance Company bling ali absorbed. and The
ema1d being very fair from tax rsysrs We
are satisfied thai &c could be realised on a lot
ofany amount. We could hear OF no offerings
except by brokers, who hold at sc.
County Warrants are steady 81 5Sa69o buy
ing selling at e965s; $40 was sold by &
broker 81 Sc.
school Scrip Is steady At soc buying selling
n Sc.
Police Warrants are in fair demand at SIC by
deslers who sell al S5c.
The return OF the Bank Of France fer the
week ending September q, ulEimo, compared
with that Of tbs preceding week, shows a de-
cline of6.I75000f IN discounts, Of l.46I OO0f. in
coin and bullion, Of e,S9,OOOf in private de-
posts, and an augmentation OF SEOOO1OE in the
Treasury deposits, Of 9II.OOOE in the circulation
ofnotes.
Notwithstanding Nj. VsnDyck's dezIal of
any completely in the recent efforts to create a
money panic in NeE York, there is still grave
doDbs expressed OF his hdelity, and his recent
letter s. we expected Is sharply criticised.
The Herald Of the 9lh says
Mr. Van Dyck saints selling two million
three hundred thoussEu dollars OF gold be-
tween the I'D ami The So.h OF tsptember hnt
gives no satisfactory resson for so doing and
taus playing into Inc hsnds OF the clique OF
etocAloDDers ahu gOlo gamblers whose interests
were nOtoriouSly suUServed fthe eby. Evil
denuy smsrtiDg under the lash Of public opln-
Ion he falsely attributes AL the censure which
has fallen a. on the department to the bulls
and Dears Of Wall siI Get. Wtereas al dfsfn.
tsrested persons were unanimous ia tbeir con
oemGstio1 OF these Irrssu y sales OF gold and
bonds at this particular crisis in The moaev
market, and considered them, under he cir
ssys a DO h Secretary Mcluiloch ana mystIf
have the right TO SAX the Confidence and sun-
port OF ilsotmluOed ciczsns, nOWeVtr We may
share IN tne d nanciatOns Of the Sc hsn aud
venaI," he assumes a right which he does not
possess- Moreover a. IL IN equally false IS
sumption on his part thai IA any event the
conduct % the Treasury would nave been CEN
sUTe4in the public prints, which he elsewhere
speaks OF as the organs Of Wall s reef. We
mentioned a currens report that the Treasury
hsd loaned gold 10 some favored broke S ope.-
RuDg for a lsu but Mr.. Van Dyck Omits sllu-
sion TO this. Ike other unpleasant questions,
and b. denouncing what he considers to pe his
traducers be hopes 70 hide his own and Mr. |
AcCulloch S mismRnagemeDI, ifnothing more, /
We regard this attempt at WhiteWashing a |
very dirty Inosing affair as a failure, under the
sn ct OF which the reputation OF Mes rs. Me |
OaDoch ana Van Dyck in this connection is
net n ely 10 be CLEARED from the suSp'ciops 1
which Hnger in the public mind. That these
ON isis were IN League WIN a clique Of gold
gambler and stock speculafors at the peIiod
referred 10 AID used their official position 10
serve their personal ends 10 the general Cpinlon
Of the public, and this letter mas doue nothing
TO disturb this beli-f; and when We called
upo the President 10 remove Aessrs. McCul- /
and Van Dsck from Office, We expressed
the sentiment OF ire dislnterested portion Of
tbs entire business community, and not of
- the ssldsh aud venal," rs Mr.. Van Dyck IL /
10 call them- Mr.. Van Dyck had bet
ter stand down.