Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-07-02
FINANCIAL AND COMMERCIAL
OFFICE OF THE DAILY PPEAL.
MuaruEra 1r-Tr- 1890

MEAREIS, July J, 1868. !
The holders Of new Tennessee bonds
ware somewhat exercised to-day, ovinp
to the sudden downfall of these bonds in
New York. 1t has now become a DOUBT
full question whether the interest will be
paid, as parties are awaiting to attach as
fast as currency is raised to meet the
new bonds. Outside of the holders OF
these securities, in which our insurance
companies are probably more deeply in
terested than others, there was very
little change in the features Of the dsv.
from that which preceded 1t. Conf
dence that the Merehants' National
Bank will be restored to all its privileges
as banking institution, is very gen
orally gaining ground. From the we'll.
known character Of the gentlemen who
left last evening for Washington, and
the faith reposed by stockholders in the
ability Of the bank to meet its IiabiIi-
ties if allowed to proceed, we are led to
hope and believe that the visit Of the
Committee to Washington will not be
without the desired result.
We have Tefrained from noticing an
article which appeared in s cotemporary
on Tuesday, relative to the selling out of
the Memphis and Little Rock Railroad
to parties in Louisville, with the hone
that the officers Of the road would set the
matter right before the public. We are
assured that the report is wholly ground
less, without the slightest shadow OF
foundation, and have no doubt but that
Col. Robertson, the Superintendent of
the road, satisfied all who heard him, at
the meeting of the Chamber Of Com
merce to day, that the report was a
canard, made out of whole cloth, If.
however, it woke up any of our mer-
chants from their Iethargy and caused
their attendance at the meeting, Il NAV
have had good effect. A full report Of
the meeting will be found in our local
columns.
Bonds and stocks are quiet and quota
tons nominal. City bonds, 81 to soc.
A sale of $4,000 stock 10 the First
National Bank was made during the
day at 81 As, including dividend. Mis-
sissippi and Tennessee, lat mortgage, soc:
% do, 80 TO 33e. Memphis and Ohio
Railroad stock, Zoe; 1sU mortgage los,
soc; % do 6s, zoe. Mississippi Central,
LIST mortgage, 81 to 5Sc; % do, 40 to Ale.
Memphis and Charleston Railroad stock,
55e. There is better inquiry for Mem
phis and Little Rock bonds at AZ to 44c;
do Navy bonds at SIC.
The following is the New York quo
tatiens on Governments Coupons Of
81, ex-interest, 1871; do 1872, 10 ; do '64,
l0}; do '65, II; 5-20s, new issue, ex-
interest, % do '67, 81 1O-40s, 1t; 7 3Os,
I'd and Sd, 81. Government bonds are
dull. Gid Tennessee, 694; new, 67E.
We have received the following dis
patch from Acting Mayor McDavitt,
which explains itself:
NEW YORK, July l, 1868
Editors Memphis Appeal:
Interest paid on our city bonds at Park
BsBk to-day. E. MCDAvITT.
Gold opened at 140lc in New York to
day, closing at 140sc. Dealers in our
market are not following Eastern quota
tons closely, as there is no counter de-
mand. We quote at 1873! to 1893 buying !;
selling st l40e,
Exchange is steady, with supply and
demand about equal. New York sight
is taken at par and sold at &c premium,
while in exceptional cases &c premium
only is asked. There is but very light
demand for Southern bills.
City Scrip holds its own, but that is
all. There is no speculative demand, as
those having capital to spare can invest
in other ways, which bring in quicker
If not a better return. We quote at rs
to ne tuying, for large and small Scrip
selling st n to soc, as to size.
County Warrants and Police Scrip are
quiet. The former at 6Oc buying, and
the latter at rs to nc; selling at So to 65c
and so to SIC, respectively.
Paying the national debt is q slow
business. The total debt June l, 1855.
after the close of the war, was g. 685.-
205, 753. The last Confederate army sur
rendered in May, 1853, and we have for
three years been engaged in paying off
this vast debt. On the first of June,
1868, tie debt Of the United States was
- 64S, 753 566, as stated by Secretary
McCulloeh. Instead Of having been d.
minishad, the debt has been increased,
during .he past three years, IS, SAT, Sl3.
A mortgage on the Long Island Rail-
road wss recorded at the Suffolk County
Clerks office, Riverhesd, L. l., few
days ego, on which there were $500
worth Of revenue stamps.
Cotton was dull in Liverpool at the
opening to-day, with Uplands, liz to
HID; Orleans, lls to lid. At noon the
market was aasier but nnnfntinr,a rrara