Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1870-10-10
FINANCIAL AND COMMERCIAL.
PUBLIC LEDGER 0FPIcE,
MEMPHIS. Tenn, October 10. 1870.


There is no change worthy of mention
in the money market Borrowers are
numerous and money scarce, though
somewhat easier to obtain than during
last week. The banks continue to dis
pose of their funds so as to relieve the
pressing wants of customers, but their
capacity is hardly yet equal to all de-
mands made upon them. There is very
little capital seeking investment on the
street and through other outside chan
nels to-day, rates, however, are some
what easier. We learned of one trans
action where $4,000 was obtained upon
collaterals at IL per cent. per month;
this, however, was an exception, the rul-
ing rates being to 3 per cent. There
| is no movement and little or no change
in local securities scrips, etc, County
warrants are purchased by some dealers
az 6S to 69c and sold at Y TO 73c. City
serip is quoted at 60 to &c, buying and
selling. Bank of Tennessee money, 60
to csc. Exchange continues scarce and
is in demand. Eastern checks are
bought at par, and sell at fc premium.
Cotton bills are discounted generally at
&c, but exceptions are made by some of
the banks, who take them at sc discount.
Gold is purchased at ll24 to ll24 for
small and large lots. The opening rate
at New York was ll31, and closing rate
at noon 1879. Governments opened ac-
tive and steady, but without any decided
changed
A New York exchange, referring to
the dry goods trade, says:
Business continues quiet with the
jobbers, and prices are without change.
There is a disposition TO yield in the
prices of domestic cotton goods for the
purpose of stimulating trade. but no i'm
portant or permanent changes are made.
Foreign goods are quiet, but prices of
desirable styles are firm. The auction
rooms are moderately attended and there
is no excitement. The stocks of desira-
Bile goods in Importers hands are so light
that the auction rooms are not crowded:
Regarding provisions the Louisville
Courir-I Journal says:
"The market has, during the past few
DAYS. assumed a much lirmer tone, and
dealers have been able to advance their
priees. The demand is active, aud, with
| light stocks here and at other points of
supply, dealers feel assured that prices
will be firmly maintained. A good de-
mand for mess pork is reported, and S25
/ is the inside quotation for round lots,
cash. while small sales for cash on time
are made at S25 80 to 26. Rump pork is
in light demand ct S2l so to p.
COMMERCIAL.
The market this morning was dull and
Z inactive, with prices somewhat irregular.
Several buyers we're out prospecting but
had not up to noon made any purchases
worthy Of mention, owing to difference
of tc in their views and those Of sellers.
Some of the latter asked lJ4c for mid
d6ngs. while others would Sell at TO te
less. Buyers offered lac. We learned
Of bu, one sale during the morning, that
/ being 100 bales, averaging shy middling,
At lac. We quote: Ordinary, TO lie;
good DO, ia to l3lc low middling, lS4
to lie; middling. lls to l4sc; strict mid
ding, l4l to l4se.
The Liverpool market opened steady at
IS TO SD for uplands and 90 for Orleans,
and the New York market opened quiet
at l6ic for middlings. Later Dispatches
report the latter market heavy, but quo
iations unchanged. The receipts of cot
ton AT this port for the week ending at
noon TODAY are 6ls5 bales and exports
l1I72 baIes' against 1922 bales received
and 2lI7 bales exported last week, aud
$500 bales received and 5l3j bales ex-
ported the same week last year.
The New York World Of the 9th says
Of cotton:
There is rather feyerish feeling in
this market, and the position subject 70