Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-04-18
FINANCE AND TRADE.
OFFICE OF THE DAILY APPEAL,
MEMPHIS, April 10, 1870.
FINANCE.

MEMPHIS. April IS, 1870.
FINANCE.
The demand for Exchange was not 80
heavy to-day, and several Of u banks
report themselves easy in this line. The
rate is MISUNDERSTANDING at par, check
ing at X premium.
Tennessee money, City Scrip and County
Warrants are quiet and unchanged.
Stocks and Bonds are nominally the
same as yesterdsy. The offerings are light
and demand moderate.
The following exhibit of the operations
of the stamp division Of the internal rev
enue bureau during the month Of March,
will give some ides of the business trans
acted In stamps: Tobacco stamps of all
kinds dispatched I6,3I6,1 49, valued at
S2.O54.96I 80: stamps for distilled spirits
dispatched, S5s,sOO, valued at s., 80, $50;
revenue adhesive stamps dispatched, 81
sOs.es7, valued st Sl,6O9,556 Y; beer
stamps dispatched, L,l09, 900, valued at
SssOO. Total number Of stamps re-
ceived and on hand, 66,S02,6e4, valued at
SIS, 44,4I3 %. Total dispatched, 1854, $40
valued at 81, 793, 46s O5.
The New York World, Of Tuesday, in
its financial article, informs Us that the
WAL street, scheme to get a cash subsidy
from Congress to the loyal state OF Ten
nessee for losses during the war IS pro-
crossing. If the State Of e~fennessee Is
reconstructed as the Radicals want then,
we are told, the programme OF state legls-
Istiou to reduce the debt and pay the IN
- D, h,nla IN anfn m Ia W. 81 mllaF
10 those passed in the State of South Car
oliua. viii be more easily carried out.
The World writer says:
a~IudueutiaI and rich capitalists and
kankers are in this scheme. The bull
CLIQUE in Tennessee bonds are employing
weak brokers to buy on buyers options,
while they ave strong brokers selling
cash and regular. This plan OF operations
is to make the market look weak IN order
10 keen the shorts from becoming alarmed
and covering, and also induce others to
sell more shdtoThe clique have complete
control OF the Tennessee bond market,
and those who sEs short are liable 70 De
twisted suddenly Snd sharply az any mo
rent. II the parties to this gigantic al
fair are successful in carrying out their
whole programme, then tennessee Donds
will take their place naturally alongside
those Of Missouri at % TO 50, and then they
will realize millions Of Pront."
The New Orleans RcdyzRe, OF recent
date. has details Of immense f0rgeries OF
Auditors warrants. We extract the fol-
lowing:
Early Yesterday morning it was ascer-
tsiueu, in financial circles, that large
number Of forged Auditors warrants had
been suddenly thrown on the market;
These warrants were variOusly Innate
to range in amount from 100000 10 $780,
600. The very large amount, and the in
nuence IL must necessarily exert upon
the money market, could not help prOduc-
ing the hyeliest feelings OF alarm, surprise
and curiosity.
The Immediate cause. however, of this
intelligence gaining ground, was the dis
on the part of Mr.. Straus, q broker
on st. Charles street, of the fact that he
had had imposed on him a lsrge number
OF spurious warrants. 1t seems from Mr..
Strsus' statement that his loss exceeded
sI4O,O coo. These warrants were purchased
Dv him late Saturday evening. From
EVhom Il is not stated; but from observa-
lions made 20 parties with whom he con-
versed, It would seem that be purchased
directly from WickIins, the late Auditor,
himself
ID i necessary to state that al these
warrants bear th6 signature OF Mr. Wick
Hfe-the forged or real signatures. Hav-
ing his suspicious excited as 70 the Benu-
ineness Of bis warrants, by rumOrs which
were circulated early Monday morning,
Nr. Straus proceeded with his warrants
to The Auditors Office to have them com
As soon as he reached there and
the bfsaks were gone over, no re-
mained. They were forgeries. They
were so ~proh2unced by the Auditor, and,
indeed. the books bore ample evidence OF
che fact.
The Bank Of America and other public
private banks, it is understood, have
suffered to a greater or less extent. In
the amount OF these forged war
rants Will very nearly, if not quite, reach
100000.