Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1869-04-12

Pacific SKIES,
Gold opened in New York at 1S3ic and
closed st C. Sterling exchange dull
st 1917 Tor prime sixty day bills. Money
on call Z per cent. in gold, cash. The de-
cline in gold vas caused by a TumOr that
the Government was selling.
New Tennessee Bonds were quoted at
So. No sales o. CID reported.
The New York bank statement for the
week is SIS follows:
Loans decreased -.. .--sIFSOo0
Specie L.s4i6VO
Legal Tenders incress ed -.---~----..- I,4o0,OOt
Stocks opened firm but we're weak at
tSe 1890 cal, with q strong disposition
to realize, closing dull and bsarish
Wells & Fargo Elk, 81; American Ex.,
40; Adsms' Elk, 59s U. s. Elk, ST. )
Merchants Union Elk, 15l; Quicksilver,
%; Canton 80! Pacific Msil, 90 West
ern Union Telegraph Co, AS Kew York
Central, 1921; Erie, - to -; Hudson,
I45f; Reading, 9Sk; Chicago & Alton, 1861;
preferred, 155; Toledo, w. aud w, 81 ;
preferred IS; st. Paul, Isl preferred
So; FIT. Wayne, 1919; Ohio and Missis-
sippi, 3IT; Michigan Central, us; Mich
igsn Southern, $50 Illinois Central,
I3s; Cleveland g. Pittsburg, 500 Clevs-
land q Toledo, 81; Rock Island, 1905
Chicago & Northwestern, $50 Z; preferred,
96t.
The bill for the redistribution OF the
currency still hangs fire in the House Of
Representatives, and viii probably not
be passed this session. Ths COMMITTEES,
or G portion Of the committee, seem 10
appreciate the importance OF amending
the bill, 50 IS 70 render the distribution
more equal and uniform, but Western
iuhusnce in Congress is so small, that
there seems 10 be no prospect OF this be-
ing accomplished. When the West
sends men Of intelligence and brains, in
stead Of blatant and ignorant dema-
gogues 20 represent her in Congress, there
will be 3 possibility Of Western interests
receiving some consideration, bus not be-
fore.
Tae Nockholder says Of the New York
money msrket All the past week has
continued the stringent money market
noticed Il cur last. Seven per cent. in
gold hiss been the current rats for call
loans il the price for money we're msde
in currency 3 commission for making
the loan 81 seven per cent. has been re-
duired, the commission being from B9{
PER cent. per day. Thus large amounts
have besu borrowed for the time a. &
rate exceeding 100 per cent. par snnum.
The bank statement for the week justi6es
these rstrs. The lOss in discOuntiog
power OF the banks IS denoted by the
decrease OF deposits is equal to nearly
five miI.lon dollars, and the loss in the
reserve required By law is nearly
S.. 500. 900, tO-wit In specie, 81 335,
629, and IA legal tender notes, = 05S,-
744, Indeed, with liabilities ia eircUla-
ting notes aud deposits footing NJ $40
AZ 7O5, taa banks hold but $50, 234, 252,
in coin sUd legal tender notes, which is
but S6,6+8 576 in excess Of the % per
cent. required Oy the national banking
act. o. notes # national banks q very
small amount is held here, probably not
ovsr three million dollars in al, while OF
the legal tenders q part represents the
reserve OF correspondent banks in the
interior, which are by law permitted to
count hs Of their reserve the balance 70
their credit in bank in the chief cities.
The Chamber OF Commerce Of Yer
viers, Belgium, in is last annual report,
demands the entire suppression Of Gus
toms' duties. The Chamber OF Aut-
werp, some tine back, took the lead IL
progressing this great reform. Belgium
has suppressed O%ctTois, which are inter
nal Customs, aud has thereby set an ex-
ample which Continental nations would
do well to initiate. II she should be the
first to suppress customs on thu frontier,
she will, in French psrlsnce, " cover
heFse with plsrg -