Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-07-01
FRANCE AND TRADE.
OFFICE OF TEE Dl<GN APPEALIN
MEMPHIS. suiIe ~. 1870.

OFFICE OF TEE Dl[LN AtFEAAgN
MEMPHIS. sulie ~ 1870. ~
Currency is reported very slose to-day,
N the demand becomes more urgent as
the supply becomes smaller, Saturday
will lie a memorable day, as the BUSH
ness OF three DAYS viii be then transacted.
1t Will be seen by a notice elsewhere
that the banks close on hat day, not TO
be opened again until Tuesday. Atten-
ton is called to a notice in another col
uEnn, declaring q dividend OF 8 per cent.
b the Union and Planters Bank. This
dividend is for the ten months ending
july Ist. on the average capital stock
of the Bank and must be considered a
very fair profit when we consider that
the Bank has Just zone into operation
and its necessary expenses in removing
into its new building have been large.
Exchange Z steady at par buying (;
checking at q premium, with exceptions
at 50 premium per $1,000. The latter rate
however, Is reported only al one bank.
The buying rate may be considered nom
inal. as there is more making while the
demand for il was not large to-day, OK
cept at one or two banks.
City Bonds are noninally SOC, at which
rate there are orders on the market.
There is also G demand for Memphis and
Charleston stock and brst and second
mortgage bonds Of the Mississippi and
Tennessee railroad.
CITY Serip il dull. Dealers report boy
inc rates at 65 to CSC and sell at 7O@72c-
The July coupons, wall, l5 rs thoaght,
be offered freely in a Few days, and blly-
ers are in no hurry lc d Aola.
County warrants are quiet, zoe gould be
as much probably as dealers would pay,
though it is said that sales were made
at something higher. Tennessee money
is in some demand at 6Sg70c IN a small
way by dealers and one outside operator
offers to take $1,000 at Csc
Gold and silver is offering in the usual
driblets, Gold is taken at 4 TO lie under
New York rates and the demand - al
together for shipment. Dealers buy sill
Yer at 81 O3GI o. for half dimes, dimes
and quarters.
A Washington dispatch says, the ques-
ton of passing the new currency DILL
which a Conference Committee OF the
Senate aud House have agreed on, came
IN in the latter body, Tuesday afternoon,
and while no vote was reached, the
temper Of the House very clearly lndi-
csted that the bill Will be defeated. It Is
opposed by the Eastern interest, who
object 10 a redistribution OF tVehty-nFe
millions of national bank currency apG
by Western members who see in the bhl,
a. it has been modified, a contraction Of
ten or eleven millions of dollars. 1t Was
stated ia the debate tat the Senate Com
rDittee had declared thai the Senate was
almost unanimously against any increase
OF the volume of she currency, and That
she House Committee, on learning tEats
receded from hat feature Of the House
bill which provided fof an additional fifty
millions Of bank note circulation. The
bill as IL stands, therefore, simply pro
yides for ar additional issue Of forgive
million dollars bank notes, a cancellation
of forJv-tWO millions OF three per GENT,
held bY the banks as their lawful reserve,
aud tor a four per cent. gold bond Tor
free banking purposes.
A table in the first anuua report OF the
Board of Trade Of Cincinnati, exhibiting
the general character and value
of the river trade and OF the
cities and towns along The Ohio uTer,
gives the total value at Sl5,000,0D0;
Pittsburghis credited with SI50, 900 600 and
exports iron, coal, lumber and general
manufactures; Wheeling, coal, iron,
nails. glass, etc, S3D,O0O,00O; Portsmouth,
iron. machinery, ETC., Slz,CO0,0 900; CIncin-
natl, general manufactures, ~SlbS,OOO0,OUO;
Madison. starch, whisky, Hour ano pork,
SI2.O OO, 600 (: Louisville, tobacco, hemp, /
etc, Sis. OOO, 900; New Albany, general
trade, SI5. OU1, eco; Evansville, grain, pork, |
Tobacco aud whisky, So, 100000; WABASH
river. grain, -four and produce, Sl5,OVU,-
600; Smithlsud, grain and produce, SsO,-
OJO. 900: PaducIh, grain and produce, $50
900. 900; Cairo, cotton, salt aud grain, sA,-
O98, 900.
The English national debt at tfs close
of the last year was s7IS,27 .lS2, and
since then the sum of s7,0O0, 900 has been
converted int q temporary annuity. |
The debt is now less than it has ever
been since 1913. Ii is no less than Sl20,-
600. COO below the amount il stood at IN
ISIS, and 71,0O0,O0O below the return OF
1857, at the close OF the Crimean war and
Indian mutiny. Tit interest of this debt
l. s36. $4,000 a year, but a, 800, 900 is tenn
pOrary only, and Will expire IN lSob.
THE permanent charge is less than II has
ever been since ISL
correspondent of the New York EEez-
ina AEstI, writing from Armstrong county, 4
Pennsylvania, gives some interesting
facts and figures touching the production
of petroleum in that State. We are old
that the total production for last year Is
estimated il 3.Sl6, $50 barrels of fOrty-three
gallons each. This WOuld seem &c over
whelm the market for all time, but tbs
export for that year alone OF refined and
crude petroleum Sas 2,5Oa,Il3 barrels
against an expert in 1864 Of only $500
barrels. 4 fortnight ago there cleared at
Philadelphia for Europe seven ships,
carrying /, los, 900 gallons Of crude and re-
fined oil. The heets already chartered
ia New York and Philadelphia viii take
out Of the country from the 10Th OF Ju2e
to the middle of July, id,0J0,OO0 gallons of
refined oil. This exceeds by 100000 gal
Ions the export Of the first seven months
of any year since this oil became an ar
ticle Of commerce.. While the prOduc-
tioa was increased the shipments abroad
have also increased 50 tina either by ac-
cident or design the relation Of supply
aud demand Is regulated with an exact
ness which is not in the same degree man
ifsst in any other commercial commodity
Ii has been Introduced into every country
as far East as India, and into every
country dwelling and log cabin IN our
OWE States.