Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-07-01
FlSAEC AID TRADE.
OFFICE or THE DAILY APPEAL,
MEMREIs, June 80, 1871, ]
FINANCIAL.


The money market continues to be
amply supplied with capital, and the
demand for loans being very lghtthe
prevailing characteristics OF the mar
ket are ease and dizziness, The
rates of discOEns at the banks
are 10 a l. per cent, and on
the street il ranges from l4a23
per cent. per month. The premium
on gold ia New York edvsncedtO ll3s
to day, but declined to and closed at
II3, and continues firm IN the face OF
the increased supply being placed
upon the market through payments
by the Government Of interest upon
the public debt. This Is mainly owing
TO the advance in Government bonds,
which Just now are higher in New
York than in foreign markets, and the
equilibrium must be maintained by
the adjustment Of the premium on
gold, Otherwise bonds would be sent
from London and other foreign mar
kets TO New York for sale. Iransac-
tons in coin to-day were larger, one
dealer purchasing 5000 at ll25. Sell
ing rates were I13, but there was no
local demand and no sales reported.
The receipts Of exchange are small
and vet some Of the banks have
enough to sell to their ueighbOrs.
Some SO, 600 were bought in this way
to-day at Z premium, and $4,000 at
81 80 premium per $1,000. Cotton bills
are coming in slowly and T bought
at par. Eastern checks are taken at
par with occasional exceptions at !
premium; selling rates are firm mt
premium on all Eastern and Moth
eru cites. New Orleans bills are
taken al s64 discount and sold at ]
discount 10 par. There was but little
done in local stocks and securities.
County warrants were bought by
dealers at 78 and sold also, the selling
rate having declined Ia2c. For the
iary and other service warrants issued
the late Board Of County Commits
siOuers 60 was offered for any amount
over 5000 by one dealer, while others
quoted them at 50a60 buying. None
we're offered, however, and no sales
were made, holders ~preferringtOawait
further developments. Bank of Ten
1essee money is bought st S5aSe, and
sold in round lots at SIC, and in a
14LlEL nv al OC1DUa SlAE kOAE0LB 9AC
7Sa79 buying and 50 selling. There
a moderate request for Navy
Yard bonds early in the day, but none
were found. Currency bonds are in
demand at SIT and were offered by
at IS. The gold issue is quiet
1t 60a6Ic. Mississippi warrants were
bought in round amounts at so and
held at IS. A dealers purchase Of
300 was reported at 75C. There were
10 Arkansas levee bonds offering.
Dealers quoted the buying rate at 343
md selling rate 81. Arkansas scrip is
lOminally at S9a91. State bonds are
l5aJ6 for the IS, and 49 a so
or the Is. Railroad and In
.urance shares are nominal and
ponds quiet. Memphis and Charles
on railroad stock is quoted at 36a364
ard selling; lst mortgage
,Onds 85a86; I'd do 79aS0. Mississippi
railroad shares are 1S8194; lst
mortgages, S2a83; % do 74a75. Mis-
and Tennessee railrord shares
re 1920; 1st mortgages, S44aS6; $1,000
vas offered at IS, on which S42 was
i'd by a dealer; I'd do 74a75; cOnsOli-
lated 8 per cents, 77a78 Memphis
nd Little Rock railroad shares are
IOminally l5a20; do Ist mortgages.
4a75. Mobile and Ohio railroad
bonds amounting to $1,000
we're bought at S64 and are quoted at
s selling; do ex-certs, SlaSZ; co S.
aterest, 81; do2d, 67a6S. Selma and
Ieridian lsG mortgages are 66a69.
iemphis and Ohio shares are I9al94;
st mortgages at 7Sa80; ID do GA
Alabama So are nOminalIy
9a70 do SIS, 10laIU3. Missouri
are quoted at 94a95. Nashville 65,
9a60. Insurance and bank stocks are
uiet. Merchants Insurance stock.
$3.50. Planters, 42a43. Peoples, "a
S.. Mississippi Valley, 30a31. Her
andO, 64s65.
STOCKS AMI BONDS IN NHw Z
NEW YORK, June 80, 2:25 pm
governments are strong with an adj
snciag tendency. Sterling steady
t 110s. Gold leaning fiat. Money
asy.