Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-06-24

the Mark-LaRe Express of the prevailing
drouths in the agricultural districts o.
Great Britain. That paper says: " With
rain clouds flying about in abundance al
the commencement of the past week, only
a few good showers have partially fallen,
and though these have refreshed the To-
liage and the grass, they nave gone very
little way into the soil. A rain OF about
forty-eight hours is still wanted; and our
n~eighbors the French, it seems, have had
very similar weather, and show their in
cressing fears by the rise in their prices
and demand on our stores. The transient
dream of overloaded granaries and end
less supplies seems now fading away.
Since the above was written buyers from
France and elsewhere have further sent
up prices,
The american Grocer says; b coffee
markets of the United States rank as fol-
lows, beginning with the largest: New
York, Baltimore, New Orleans, Boston,
| Philadelphia and Mobile, while the sugar
/ markets fOllOw each other thus: New
York, PhilaGelphia, Boston and Balti-
more.
A company with a large capital has
been organized in Mobile, Alabama, forthe
purpose OF engaging exclusively in the
importation OF coffee, and the merchan-
disc OF the West Indies and South Amer
lea generally. A very sensible move in
the right direction. Now, add TO it the
expectation of UGH home productions as
will pay for the importatiOns; and the idea
of reciprocal trade will be complete.
Gold was dull to-day and nothing of
consequences was done. Early in the
49, GF . 60 -
but the unsettled and declining market.
in New York caused dealers to hold of
for future developments. There is no
demand he7e except from dealers, and
their purchases are chiefly for eastern
shipment. New York market opened
at last nights closing rates, 1I29s, fell sud
denly to HIS, and huctuated every half
hour, closing at llI%. The excitement in
New York was doubtless due to the fail
ure Of James Boyd, who a OF hand five
millions in gold, and forty thousand shares
of leading stocks, all of which were
thrown on the market, causing the break.
The near approach Of July, when the
Government will pay its semi-annual in
terest on . 20 bonds may also have eXer-
cised some influence. A few small lots
Of silver were sold by dealers at from 10
to Z premium.
In exchange there was no change in
rates, the banks selling over the counter
at Ne premium n at 81 so to $500 per /
$1,000, between each other. Commercial
bills are taken at par. Only a limited
number of cotton bills of a few Thousand
dollars each, were offered.
The currency market is steady and
quiet, with a fair supply at all the banks. !
Good commercial paper is discounted at
10 TO Z per cent per aunum for favOrite
customers. Bankers refuse to discount
anything whatever for outsiders street
rates are = TO 2 per cent. per month.
In stocks and bonds there was some in
quiry and a few transactions. Some First
National shares were sold at Sl55 cash,
also a few German National at 6lE and
resold at 62]a. Charleston railroad is in
quired for at 40, and Memphis and Louis
vile shares were wanted without any
rate being mentioned, though y to 10
was the nominal value. Some Onion and
stock is on the market at par,
though il was understood that il can be
purchased below. Street railway
stock is looking up a little, and is now
nOminally z6G2Sc, With some holders
asking SOC, and no transactions tina.
be heard of. All the home iusu-
rance stocks are saieable at their full par
value. Memphis and Charleston railway
lst mortgage bonds are held at SIC, and
I'd do. 2je. Memphis and Ohio 10 per
cents are worth soc, and 8 per cents Sc.
Mississippi and Tennessee LIST mortgage
bonds are 79c, and % do. CSC. Mississippi
Central of 1867, or McCOmbs LIST mortgage
are 7SC, and I'd do, with interest off to
1874, Soc. City bonds are in request at
with lone offered. In New York
IN the 18th old 6 per cents were s2@5Sc;
5O(G5lc; and those indOrsed by the
Memphis and Charleston RsilrOad Com
)any, G0lJ65c, while those Endorsed BY the
of Tennessee are 50ll55c. Tennes-
zee Bank notes are inactive at 6SG70c.
ity scrip do. al zoe; and county nominal
70972c.