Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-06-05
FIMANCE ANp TRADE
OFFICE OF TIE DAILY AFFEAL, I
MEarPHB, June 3, 1871 J
Ernr Nwnw
FINANULAL

lAaAAa
The presence in our city Of the greai
editor Of the East did not seem TO have
any great effect upon money matters, as
IL was well known that he does not card
to invest anything In the South. The
/ Confederate picnic, however, did have
some effect, inasmuch IS the different
business houses closed earlier than usual.
making depositinE rather more lively
during the middle Of the day than il
would otherwise have been. In the one
ease, bat little interest was felt; ia the
other all seemed to be interested. Money
is in abundant supply and rates of dis.
count ere unchanged. The banks Bre
growing cautious, however, In the way OF
discounts, u only negotiate such paper
IS comes from customers or CepositOrs.
In such cases rates are 10Gl2 per cent,
the latter being the general rule and the
former the exception. In the open mar
ket there IS an improvement in the de-
mand for money, but no change in rates.
Good two-nams paper is discounted at 2
per cent per month.
There has been no quotsble change IN
the rates Of exchange for several days.
Cotton bills are offering less freely and
the demand is more active. Aco0mmOda-
ton transactions between banks are re-
ported, az bunting to SIS. 900, at 81 25Gl so
premium 4r $1,000. Cotton bills are taken
st par az Eastern bank Exchange at 3
premium. The selling rate for the latter
Is steady at = premium.
Gold wss bought st 1l1Z. offerings were
limited, however, the total purchases Of
the day amounting TO less than $4,000. The
opening rate in New York was ll2Z and
closing at 10.
Local stocks, securities etc are quiet
and unchanged. Bank Of Tennessee
money is bought at s19s2 and sold at IS.
Shelby county warrants are l5 buying
and IS selling. Memphis and Charleston
railroad shares are 36a37 buying
and selling In Mississippi and
Tsnnesses q new movement was banked
by the timely interference Of Oue Of the
reporters Of the city press. The Heather
Chines" was informed that Horace Gree
ley came here with an idea Of investing
in real estate, railroad stocks, etc, and
being on the alert for q transaction,
thought il would be 8 good days work TO
unload some 81, 900 of that stock, and
with that purpose sought an interview,
Mr.. Greeley did not, however, seem in
clined TO believe the oily yarns told
by the Heaihsn In regard to 10 per
cent. dividends, ETC., and could not
be induced to purchase a dollars
worth Of Southern railroad stock
a. any price. Unsuccessful again, the
Heather wendell his way down Main
street until he reached Madison, where
be took TO the awning and gas posts as
usual, protecting them from the melting
rays OF tbs sun. Mississippi and Tenues-
ses hrst mortgage are quoted al S29S4
buying and selling, and seconds 7ZG74.
Memphis and Charleston first mortgages
are bought at s. and sold st Sc, and sec
Onds st $3.50. Memphis and Little
Rock railroad s per cents are 72674 buy
ing and selling. Mississippi Ststs var
rants 6re dull and nominal at 60E65,
with but little inquiry snd very few in
the market. Shelby county bonds are in
demand at 55; sold az s., with none Cfer-
ing. Mobile and Ohio railroad first mort
gage bonds are bought a. Sc and sold at 50;
second do at 67G69, Mississippi Central
first mortgages are Sass buying and
selling, and seconds at 73G75. Memphis
Ohio railroad shares are bought s5
l6L and sold a. %.
Tennessee bonds declined tn New York
to 70zs for the old and 66As for the
new