Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-02-08
TELEGRAPHlC MARKETS.
NEW YORK.

NEW YORK, February F.-Cotton dull and
droOping: sales 6Oo bales: upiands 2T1sc.
Flour "a 5034 70. Whisky 9Sc Corn, mixed,
90Us2 Rice quiet Coffee dull. Cuba sugar
9LGlDlZc. MOlasses 68g7so.
Dry 0OOds-Fhere Is little or no animation
in this brancn OF business vet, but prices OF
cotton grad are nevertheless Il m, ana an
advance Of &c per yard Is been established
on ROclSdons and Bleached muslinS, which
now cnmmaud i6c, while PicquOJ a ticks are
reduced rom 2JGzic-
Money-The supreme Court decision on the
legai teuder question was the great uHlect OF
discussion IL financial circles this afternoon.
The decislou, as Understood in Wall street,
Is, that the egal Tender act was justified by
the AT, but that Congress had no power o
issue any more legal tender notes, is no evil
dence that all contracts made before iSa2 are
to ue paid in coin. In this shape the decision
Is certain My very important one, nut Us IN
huea ce III value was remarkably Slignt Inc
decision makes some hundreds Of millions Of
railroad bonds, aud AN immense aggregate Of
State and city bonds, payable in coin, both
have been paid in greenbacks; bat the pay
ments OF principal or interest since 1852.
VIII not be affeci ed by the decision.
except where the money has been ac-
cepted under protest, accamp@n ed with
t"e demand tog gold, ghic4 cases are, OF
not impossible that some of the poorer states,
with h-avy debts. like North Carolina and
Tennessee, being unable to provide for their
debt even on a currency basis, may be driven
By this decision into open repudiation, plead
ing the action of the supreme Court rs In
posing on them obligations which they could
no5 honor. The price Of gold advanced this
morning on private kilograms from Washing
ton 20 the effect that the decision would be In
favor of all contracts made before 1857 being
payable in coin. but when the other part Of
the decision was known this afternoon the
price Of gold declined from the fact that Con-
gress under the decision, cannot issue any
NOR legal tender notes.
Money was easy to-day at 4a7 1 for call
loans, and 7@S for prime business notes.
sterling firm 81 t9lf. Gold heavy and lower
under the supreme Court decision. II opened
at l2l, touched l2l5s and fell to l205S, advanced
to l2054, aud closed at 10. The carTyin rates
were Sac per cent. Clearances s-s,O00IOJ-
Governments are lower but closed steady.
state bonds lower. Old Tennessees 81; new
CINCINNATI.
CINCINNATI, February Flour steady
family 50 % as 81 Wheat 81 l0Gl u. CornT g
7Se oats 5O,sl52. Rye S5G90c Cotton quiet, 2414e.
Tobacco-sales 81 hhds.; prices hrn. Pork
heldat 81. Bulk. shoulders lie; sides l4S
hams lS1&Gls5zc Lard held at l5Is@l61lc.
Butter 2sca32c. Eggs 23924c Cheese l71&9
ls1sc. Sugar ll@lS54c. Coffee lS92ic. Molsss-
- w. ST. LOUIS.
ST. LOUIS, February Flour, superhne,
sI25as450. Corn, yellow, 74975c. Oats 52a55c.
RN g 75cs70e Whisky 93c. Groceries very dull
and unchanged. Pork 81. Bulk shoulders
lO4@l l0Ec; sides 4Gl31sc. Bacon shoulders
l25so; clear sides l614c. Lard l5sSc.
CHICAGO.
CHICAGO, February 7.-Flour-Spring Y
g 75GS4 %. Corn 69iFc- Oats Csc. Rye IS TIC
Barley 6567Oc Hlghwtnes g36935S. Pork
s25G1%92j 50. Lard i4Lc. Bulk snouids rs
ga l0o. Rough sides Exc; shortrib sides
l3ze. Hams II 5l5c.
LOUISVILLE.
LOUISVILLE. February =. Tobseco-sales OF
IS hhds at s4 509l4 81 for trash 70 fair lesi
Cotron dull at xS5ze. Flour and grain un-
changed Prime sugar l3c Prime molasses
75, PORK sG 81. Bacon shoulders l&Sci siaes
l5s<d l6l4c Bulk shoulders llzei sides 4Ssss
I5c- Lard, tierees, 1879 Hams lo1Sc Mnisky
e9Ss4e.
NEW ORLEANS.
NEW ORLEANS, February 7.-CotIon-de-
Inand fair and price firm 41<S2i1xc, Receipts
since Saturday $3.50 bales. No exports. Flour
superfine IS 80; Xxx % 40; Xxx IS IS 20 70.
Corn II To- Oats 1rm az 75e. Bran 81 SOC.
Hays 81 Pork S2s 5s29 81. Bacon shoulders
IS5[e; sides l7l1lSe. Lard in tieree lB1S9 1875;
keg Sc sugar active and firmer-prime l-,s
l2I7c Molasses frmer primers 57oc. Whisky
dul at Si5i 05tze. Coffee active-titr 10 s4eS
l5Ke; prime 7A9E1zc. cold III sterling
sI1l. EewYork sight par to u discount
NASHVILLE.
NASHVILLE, February l. Cotton dulli
Low Aliddiing 2S34; Good Ordinary 2zs4. stock
ez hand 2osV bales.