Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1870-08-29
FINANCIAL AND COMMERCIAL.
PUBLIC LEDGER OFFICE, |
Memphis. TENN, Aug. %. 1870. !
MONEY

MEMPHIS, TENN, Aug. ", 1871.
MONEY.
We have no change to report in the
financial market to-day. Local stocks
and securities continue dull and gene
rally unchanged; dealers buy and sell at
the following rates; City bonds are pur-
chased at 48c and sold at SOC; city scrip
is purchased at 60 to Gle and sold at 63c;
county warrants, 62 to 63c, sold at &C to
&c; Tennessee money is bought at zoe
and sold at 73c. The demand for money
continues active. The banks are, as
usual, supplying the wants of their regu-
lar customers. Others are compelled to
offer their paper upon the street, and pay
from to per cent. per month, accord
ing to the quality of the paper. Exchange
is firm at par buying and 4c premium
selling. Gold is purchased at ll54 the
opening New York rate was ll6s; it sub
seIuent declined to 1853, at which it is
quoted steady. Governments opened
irregular at about the closing rates of
Saturday.
COTTON.
The transactions this morning were
hardly sufficient to establish quotations.
We learned of several sales, but they
were all of inferior grades and at irregu-
lar prices. Buyers are out of the mar
ket for anything except at their own
prices, and sellers are rather more anx-
ious to realize. Middlings are quoted at
ISL to l92c The New York market
opened quiet at l9sc for middling, and
the Liverpool market steady at sgd for
uplands and 9sd for orleans, with esti-
mated sales Of the day 10000 bales.
Two more new bales were received this
morning One was from the plantation
of l.. G. Garrett, on the Arkansas river,
about sixty miles above the mouth of that
stream, was consigned to H. o. Williams
& Co., and is the first new bale from that
river. The other was brought up by the
steamer A. J. White, and was, we learn,
consigned to S. NJ. Webb & Co.
TRADE
There has been no change of impor-
lance in the general market since our
last weekly review Prices, with few
are about the same; the de-
mand for plantation supplies has been
fair during the week just past, but not as
large as was anticipated. Bagging and
ties were the principal articles in re-
quest, and considerable quantities Of
each have been sold during the week and
shipped to various sections of the coun-
try drawing its supplies from this mar
ket. In connection with the sale of these
articles, we notice an increased demand
from the Arkansas and White rivers.
Almost every boat that has left our wharf
for those streams during the week have
taken large quantities, proving conclu-
sively that planters and merchants along
those rivers prefer this as a purchasing
market, Notwithstanding that other
larger cities have had their lines of pack
cts running in those streams. The cities
of St Louis, New Orleans, Louisville
and Cincinnati are all making strenuous
efforts to secure the trade from those
streams, and all have already organized, |
or are about to organize, lines of steam |
ers to secure the large trade now coming
to this city, Whether they succeed or
not remains to be seen. There is very
little animation exhibited in the general
market to-day, and business during the
week will, perhaps, be light, owing to tie
fact that accomplishing slopg the low
auds Of the Mississippi, Arkansas and
White rivers viii be commenced during
he early part of the week; and should
he weather prove favorable, BY the mid
lie Of next week We may expect to see
he staple being brought to mar
set. Flour continues quiet, and is in
rood supply. Provisions ere unchanged
md inactive Produce is trife lower.
With good demand for shipment North.
Groceries are quiet and steady. Dry /
FOODS are dull. with light sales Our
merchants have all laid in large aud well
assorted stocks, in anticipation of large
al trade. and are, We are informed,
eady to sell as low as either Louisville,
Jincipnati or St. Louis does. IL this be
he case, Arkansas and Mississippi mer-
ihants viii save considerable in freight
y purchasing here The hardware trade
las been somewhat lively during the