Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1869-01-30

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City Bonds are in fair demand at 52a@
53c, but there are only q few on the
market. An order for $500, 600 on New
York account was received but could moi
be filled. One desler bought two Bonds
during the day at 523@52se to close out
q small order, and after thoroughly sift-
ing the market was satisfied that s24, 600
would cover all held for sale. While we
do rot wish TO misrepresent any matter
pertaining to our city securities We must
protest against b action Of some Of our
merchants sDd property holders in ira
duclng the credit Of our city. On more
than one occasion we have heard Of
planters wishing to invest In our City
Bonds but who were deferred from doing
go by the advice Of their merchants.
Our advice to planters is to pay no st
tention whatever to men who would run
down the credit Of their city. Many OF
them-by far the larger number-knOw
nothing whatever about city matters
do not even take sufficient interest in its
affairs to cast their votes at an election.
How, then, can they be capable Of giving
advice on the state of its finances? The
financial columns of the City Press are
the proper places to find information on
this subject. We have for months stated
that City Bonds were a good investment.
When they were selling at 4Sc we adj
vlsed our capitalists to buy. They have
since gone up to 55e, and now are not
to be found in any quarters at less than
5S@54c.
City Scrip proper is in demand at 74@
75c, while Ledger Balances are not taken
at better than 7O972c. Why there
should be 8 difference we do not know,
except that parties have sold Scrip short
or consider the Scrip more available
against the city than other evidences Of
Indebtedness. 1t may be that suits are
about to be entered, and in that event
Scrip would be most desirable.
County Warrants are in large demand
but we can give no quotations. One
dealer sells in 8 small wsy to taxpayers
at 75c, but would not sell to spectators
at any figure. Holders generally are
waiting TO see what effect the new Board
will have upon the market, sDd we ques.
ton whether soc would tempt them to
sell.
Police Scrip is firm and unchanged.
The New York Stock market was
steady at the opening with leading
shares come better. At . I'm. there
was no material change, though some
what Besrlsh, and closed steady ss
follows, with q slight improvement
in prominent shares: Wells, Fargo
& Co.'s Elk, 29l American Ex., 80;
Adams Ex., 623 United States Ex., 543 /
Merchants Union Elk, l64; Quicksilver,
24s; Canton, $50; Pacific Mail, 1903; West
ern Union Telegraph Co, $50 New York
Central, 1885; Erie, 50; Hudson, 1874
Reading, 974 Chicago & Alton, -; pre-
ferred, - Toledo, W. & F. w, 66;
preferred, 7S4; st. Paul, "A; preferred,
96i Fit. Wayne, 1898; Ohio d Missis-
sippi, 49, Michigan Central, 129 (; Mich
igsn Southern, IS; Illinois Central,
1881 Cleveland d Pittsburg, 95s ; Cleve-
land d Toledo, 1855 Rock Island, 1881
Chicago d Northwestern, "a! ; preferred,
90.
There were no sales reported in Ten
nessee Bonds. Old held at 67@6S; new
673@6s.
Gold opened in New York at 1861 and
closed at the same. Carrying at 6 per
cent. Sterling Exchange steady at 1895
for 60 day bills. Money was easy OF
call st 097 per cent.
Governments opened dull but generally
steady. At moor they were firmer with
s better demand, and at the close were
unchanged with more offerings than bids.