Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1870-12-30
FINANCIAL AND COMMERCIAL.
PUBLIC LEDGER OyyrcE,


| MEMPHIS. TENN. December 30. 1870.
| There is very little doing in the general
market to day, and with the exception of a
slight advance in produce and provisions there
are no changes to report. The prospects of a
resumption of navigation to Cairo are hatter-
| ing, but above that point, and up the Ohio
river, the chances are slim for some time.
Considerable freight for the South is now be-
ing shipped by rail from St. Louis to Cairo,
and indications are that the latter point will
| be the head of navigation for several weeks.
BagRing and ties are quiet and unchanged /;
corn meal is firm at SO IS to 40; -four is quiet
but firm at previous quotations; oats are firm
at SO TO SIC; corn is in request at Coo; hay is
firm at S23 to "a bran is held at 1913 by dealers
mess pork is firm at $50 so to 81; clear bulk
sides, l014 to 1lc1s; clear rib, lO4 to l01ac;
shoulders. "a to s14c; sugar cured hams, un-
changed; breakfast bacon, is to 19c; lard,
dull and unchanged.
MONEY.
In both the money and general markets
matters were very quiet to-day, and we have
no new features to note in the condition of
financial affairs, The banks find ample en-
plOyment for their funds in meeting the wants
of depositors and those to whom they are
under obligations, and outsiders meet with
little attention. Indications are that nearly,
If not quite, all the paper maturing on the
LIST proximo will be met. and although there
may be those who will have to borrow to meet
their obligations, there will be no stringency
to speak of, and very few. if any. of our mer-
chants will be compelled to put their paper
upon the street and submit to a heavy dis /
count to secure funds to carry them through, |
as was the case two months since. Rates of !
discount at the banks is steady at 9 to II per
cent, while street rates range from II to IS |
per cent. Exchange is coming in more freely. |
Rates of discount are 4 to &c on Eastern |
bills. and &c on New Orleans. Local stocks |
and scrips are quiet, with but a slight demand |
for any particular class. Bank of Tennessee
money is purchased by dealers at % TO 74c, |
and sold at IS to &c. County scrip could be
disposed of to dealers in small lots at &C. and /
is sold by them to taxpayers at IS to 69c.
Transactions in both are confined to purchases
of small lots, the only demand being from
those who have taxes to pay. Gold is pnr-
chased at 1921 and sold at 1lO1s. with but lit
tie Offering. The opening New York rate was
ll0sk. and the closing rate at noon ll95s. Gov
erpments opened active and steady. Sterling
exchange heavy at lO9.
COTTON.
The decline in Liverpool yesterday. and
subsequent decline in the New York market,
bad a demoraliIing effect on buyers. who, an
ticipating a still further reduction, are not
investing to any great extent to-day; some
Few were ont prospecting. but only purchased
% Gil orders. Sales up to noon were about
700 bales. including 800 bales low middling at
SIC; 100 bales shy low middling at 49,; 80
oales strict good ordinary at ls1<c; and a few
'ales Of middling at l4c. Holders were com
oaratiVely firm, and refused to make the con
sessions asked By buyers on the better grades.
'ut were willing to dispose Of low grades At