Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-06-30
FINANCIAL AM COMMERCIAL
OFFICE OF THE DAILY PPEAL. !
MEMPHIS, June %, 1865.


Except the closing up of the Mer-
chants National Bank there has been
very little of interest trsnspiring in our
money market during the week. The
suspension of this bank, which has long
stood among the highest in our city, was
not followed by the excitement which
prevailed at the close of other banks q
few months since. This was caused by
the fact that there were only few Of the
small class of depOsitors; and many OF
| them have, we believe, been secured in
a satisfactory manner. By 8 card from
| Mr.. Cherry, the President, which APP
peared in cur columns of yesterday, it
appesys that less than S23 600 was due
depositors, which was not provided for
at the time the doors closed. OF the
causes. which led to the suspension, there
are many assigned, but it is believed
that it was urged by parties opposed to
Mr.. A. It. Lacey, Vice-President of the
bank, and who has been prominent
candidate st Washington for appoint
ment to the vacant New Orleans Coliee-
torship. 1t is said that Col. Bridgeland,
/ a gentleman HGll-hAOnA al "a
New York banker and brother-in-law Of
the President of the First National
Bank, of this city--is also a csndi,iste
for that position and it is intimatsd
that if the account of Mr.. Lscey with
his own bank caa be shown to be largely
overdrswn, that it will ruin his pros
poets and further those Of his opponent.
These are only few of the rumoEs
afioat. Messrs. Cherry and Freemsn,
the President and Cashier Of the col
lapsed bank, are highly esteemed in this
community, and have, We believe, lSst
their all in the Institution, their fO--
tunes being wTt eked with the bank, d
statement, showing how matters stand,
will be given to the public in very
short time, and wiz be looked Tor with
no little interest.
Gold in New York opened ct 140se and
closed at l403c. In this market brokers
buy at 1881 to 1890; selling at l40c.
The offerings of exchange are about
equal to the demand. There has been
no currency shipped East Of eoase-
quence during the week, nor is there
likely to be any for some eight or ten
DAYS to come. Rates are the same SIS
at our last. Buying st par and selling on
all points North and East at ! TO &c
premium.
The stock market is quiet and quota
lions nominal. Memphis city bonds are
perhaps firmer than other securities, and
it is hard to find sellers at IS to soc. We
quote as before: Memphis and Charles
ton Railroad stock, 55c. Memphis and
Little Rock bonds, AZ to 44c. Memphis
and Ohio Railroad stock, Zoe; Ist mort
gage bonds los, soc; I'd mortgage bonds
g., zoe. Mississippi Central Rsilrosd
bonds, let mortgage, 81 to 5Se I'd mort
gage, 40 to Ale. Mississippi and Tennes-
see, lst mortgage, SOC ID mortgage, 33e.
The First National Bank has already |
paying the July coupons Of
city bonds, due on the lst 'prox.
City Scrip is inactive, with very little |
on the market. Brokers bid Use, without |
sellers, and are sow to sell at
less than soc, though we heard of few
hundred changing hands at 77le.
County Warrants are dull at SOC buy
ing; selling at 90 to Csc. There is no
disposition to speculate in w srrsnts, and
few are taken By brokers, except they
" have place to put them" .
Police Scrip is weak and tends down
ward. Buying at u to 7Sc; selling at
So TO S5c.