Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-07-18
FRANCE AND TRADE
orrIcn o. ran Danr Arg.z.,

MEMfAIss July 10 low
The markets of Memphis were yester-
day as dull as il every door was closed
and General Forrest and his cavalry were
again threatening the capture of the city.
There was absolutely nothing done be
yond supplying city demand, and even
that was unusually light. Merchants
were not anxious to sell, and expressed
themselves "only waiting" as the song
SAYS. for what may next turn up. The
war news received in the evening was
little more satisfactory than that pub
lished in the morning. The kilograms
from New York and Liverpool informed
Ms of a decline in cotton of &c in the for
mer. and sd in the latter place; and Of
fluctuations in the New York gold mar
ket, Ike opening prices being 1875, and
closing at los, showing thst an New
York merchants and business men are
moving cautiously and are prepared for
whatever may come of decline or advance
in the staple or in gold. We are still of
opinion that a short time will bring all
things right, and among Thorn a recovery
Of prices in cotton that, supply and de-
mand considered, would now be legiii-
mate. Singular to say, breadstui1s, which
I'm Liverpool, New York, Chicago, and
other places, have advanced, have not
here felt the Wal panic; and tbeo only ar
licle in the provision line that has appre-
ciated is bacon, which only advanced 40
H.. The dispatches published in this
issue Of the APPEAL will prepare mer-
chants for a rapid advance in flour, meal,
wheat and corn, and every other kind OF
breadstuhs, which, ia consequence of
short crops and short supply in Europe as
we'll as on account OF the war, viii be and
are now in great demand.
THE LITTLE ROCK RAILROAD.
There is a great deal OF discussion of
and some controversy as to the terms OF
the contract entered into with the city by
Mr.. Epperson upon his purchase of the
Memphis stock OF the Little Rock rail
road. We reproduce the contract this
morning that our readers may see fer
themselves and be posted. II is as fol-
lows:
First proposition-I propose 70 pur-
chase the stock held by the city of Mem
phis in the Memphis and Little Rock
railroad, and to pay for it as follows: Fiji
~ thousand dollars in cash, and i've hun
bred and twenty-five thousand dollars in
the stock of the Memphis, FL Paso and
Pacific railroad company, of which the
Memphis and Little Rock will be q part.
SecOnd-In addition to his 4 agree 60
furnish the means for the vigorous prose-
cution and early completion of the road,
aud as an earnest of this l will furnish
Immediately fifty thousand dollars cash,
and when this is exhausted fifty thousand
more, and 50 on as needed.
Third guarantee that the road shall
be completed SO nat the ears can run
from HOpeheld to the Arkansas river OPP
pOsite Little Rock, by the first of october
next, unless interrupted by floods or 9TH
or unavoidable causes.
Fourth-As security for the perform
ance of these conditions and stipulatiOns,
/ will pledge the took s. purchased to be
placed in the hands of a trustee, and in
default on my part the stock to revert TO
the city OF Memphis, u the stock OF
thefMemphis, FL PasO and Pacific rail
road TO revert to me, aud the parties to be
placed in StdtH quo, except as to the
NV thousand dollars. which, in default
Of the performance OF the contract in
spirit and good faith, ] agree TO forfeit TO
the city: and for all moneys furnished
the road, / shall have a claim upon the
road for the same, AS If the contract had
not been made.
Second alternative proposition will
pay the city one hundred thousand dol
lars Tor the stock and give the same
guarantees as above mentioned. All OF
which il respectfully submitted.
ID. II. EPPERSON.
our own opinion, alters careful reading
- E IL e IL L an III 4
railroad is not finished by the lst of Octo-
Der next and in complete running order
throughout its whole length 20 Little
Rock, the stock of Epperson wiz be Justly |
to the city and with it the $780,
600 he paid for it.