Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-11-24
FRANCE ANB TRADE.
OFFICE OF THE DAILY APPEAL,
THURSDAY, Nov. 2, ISL.


In the local money market nothing Of i'm
pOraance occurred. The question of exchangt
has squarely settled down 70 the rates adopteC
Tuesday morning, which We give below
Money IS in good supply. The mercantile de
mand is light, while the movement Of the
staple continues very steady. lester fay 40,
bales changed hands; to-day 500; 800 bales
have been the average for the past three
weeks. Rates in The banks are steady at 10 q
y per cent per annumi outside rates range
from II 10 - per cent. per for prime
paper.
TO buy on New York, Boston and other eastern
cities at q to y, and selling rates bring Z dis
count, while one bank in this city buys on
New York from their customers st 4 discount
and sell at the same figure.
Gold is unchanged; dealers pay no 70 ll0H.
We hear Of nothing important in local
stocks, shares or securities. county warrants
remain 4 m, with an upward tendency at 30
to c. There Is stiu a fair feeling in Memphis
and Charleston railroad stock, but little doing,
and parties who offered for 33c, have with
drawn from the market. There Is a DISPOSE
ton 10 hold out for sOc. Bank Of Tennessee
is easy, with a light demand; brokers are sell
ing at s. TO SIC, and pay s, to 81. Memphis
l currency 5 Xes are quoted at IS 70 55Zc. Ar
kansas levee bonds are quiet 5000 was sold
| by a dealer this morning at zoe. We quote
| . 70 pic. Other matters under this head are
quiet and unchanged.
INsURANoE-READ YoUR POLICIES.
Probably not one policy in ten IS carefully
read, and OF the few that are reada very small
| proportiOs is entirely understood. Although
g comparative small amount OF money is paid
tor a policy, It should be remembered that it
covers a covenant to pay often m~auythousands
o. dollars. The liability Of an insurance com
any is supposed 70 be as complete and as
binding as a bond or a mortgage, ana yet
while no one thinks OF MS money
on the latter without me most lnOrOugn IN
vestigation, Insurance policies are paid for
and, often without unfolding OF reading, are
lightly thrown aside 10 await The day OF cal
amity, when their respective conditions be-
come operative, and, then, sometimes, TO
learn that tbey are So detective in execution as
n mEnn-a no 1fuhF1frU IN the Wrmnr u IEgmfrnu
them. In this connection our atten-
ton has, within a few days. been
sev diebonasf fSrT n nGlfcv said 10 he IL
use by some eastern and New York companies,
in which the good ld-tashioned words, the
receipt whereof is hereby acknowledged" are
omitted. We are informed by one in the bust
ness that these insurance companies, in their
great desire for business, give credit to insur-
ancea agents. who neglecting TO hand in the pre-
MUM before loss occurs, aymen is refused
by the company on the plea thatthe premium |
had never been received. Such policies are
not desirable under any circumstances 10
hold, for no one in case Of loss wishes 70 be
requil ed TO prove payment Of premium, or to
stand responsible for the Integrity and SOL
vency Of the agent. The custom, We are tod, /
is fr these companies TO deliver the policies
as negotiated TO their agents, Who, however,
dOnOf settle for them until the end Of the cur
rent month, hence, even in cases where the
business is honestly conducted, a large per-
interval between the date OF the policy and
the settling days OF the agents. At the best
The parties thus insured purchase the chances
Of a lawsuit, and in two instances, at leasf,
our informant says to his knowledge, with n
the past five years, suits arising from policies
Of the KIDD here alluded 10 have been decided
against the underwriters Everyone pr cur
ing a policy of insurance should carefully
read it.1Philadelphia Ledger.
bonds I'm New York.
NEW YORK, November o, 1890 am.-GOv-
are unchanged, active and steady.
very steady al lOs3s. Gold is loaning
Tat.