Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1870-09-27
PUBLIC LEDGER 0PFIcE,
MEMPHIS. TENN, September n. 1870.
MONEY.

NJ
MEMPHIS. Tenn, September "a. 1870.
MONEY.
The money market continues quiet
and without any noticeable change since
our report of yesterday. The demand
for accommodations increase daily, and
it is with much difficulty that some Of
our merchants secure sufficient funds to
supply their immediate wants. The
banks are, as general thing, doing their
utmost to supply their customers, but
are so hard pressed that it has become
necessary for them to refuse some appli-
cants, in order to do all they can for
those doing business with them. Rates
of discount are unchanged There is an
active demand for Eastern exchange,
with but little offering. Cotton bills are
taken at par to &c premium. Checking
rates are ic premium. Scrips, warrants
and other kinds of local securities are
quiet and without any noticeable change
in prices. Cities are purchased at GO to
Gle, and sold at 63 to 64c. County war
rants are bought at II to 72c and sold to
taxpayers at 70 to Is. Railroad shares
are quiet. A small lot of Memphis and
Charleston railroad stock was sold at
SIC. The transactions in gold this NOR
ming were light and confined to the pur-
chase of small lots at ll24. The open
ing New York rate was ll34; it subse-
quently declined ic, again rose &c, and
at noon was quoted steady at ll34. Gov
eminent securities opened irregular, and
sterling weak
COMMERCIAL.
The sales of cotton reported up to noon
to-day embraced about so bales ofvarious
grades at lower and irregular prices.
Yesterday buyers were ON the market
inquiring for middling at l53c, and in
several instances paid ic more for good
styles. To-day they have entirely with
drawn from the market, and do not offer
over l5c for the best style Of. middling.
Sellers are out to-day in force, but had
not at noon succeeded in disposing of
any important lots, their views and those
of buyers differing so widely. Middling
was offered generally at l54c, and some
few bales disposed of at fc less, The
sales were mostly in small lots, prices
ranging from l5 TO l5ic for mid
ding; l4t to l4ic for low middling;
l29 to l33c for good ordinary, and
liz to l2c for ordinary, The
New York market opened quiet, at lie
for middling, and the Liverpool market
dull-at 9@9ld for uplands and 9iG9sd
for Orleans. Later dispatches report
the last named market fiat, with sales of
5000 bales at Cd for uplands and asd for
Orleans. A decliae of &c is also re-
ported in the New York market
Watts Il Co., of Liverpool, in their cir
cular of the 9th inst, referring to the
future prospects there, say: "The gene
raj position of our market again appears
rather more favorable for holders, but
still the immediate future course Of
prices, now, as for some weeks past,
seem to depecd more on political events
than anything else. The all-absorbing
questions at this moment are, How long
can Metz and Strasbogrg hold outg Can
or will Paris stand siege2 Are we to
have speedy termination, or an inde6.
mite prolongation Of the warF May we
not have fresh political complications
on the continent Without undertake.
ing to answer any Of these questions, we
may remark that, so far as we can Judge,
the impression seems to be that any
news indicating an esrly peace will
strengthen the prices, and rice rersa,"