Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1871-04-28
FINANCIAL AND COMMERCIAL.
PUBLIC LEDoER 0FpIcR,
MEuPHIg. Tenn. ADril %. 1871.


MEMPHIS. TENN. April Is. 1871.
There was nothing done on Change to-day.
Offerings were light. including lot Of corn in
burlaps. for which Tic was asked and zoe bid,
and lot in gunnies nc asked. 7lc bid. A sale
of clear bacon sides on the levee was reported
at &c. but on orders from store we could
learn of no material decline. New potatoes
and onions are coming in by every packet
from New Orleans, and prices grow weaker
daily, while the stock Of old on hand finds lit
tie favor in the eyes Of buyers.
TRADE.
BAGGING-Is quiet at 21@23c. with very light
demand.
BEANs = Navy. 50 25@2 so; white mixed.
81 %.
BAcoN-Clear sides. 1O@1Ollc; shoulders, n
@754c; bulk sides, clear, Sz4@ec; shoulders.
61Sc; sugar cured hams. l5@l7c
BRAN-sl 35@l 40 D 100 in store.
BUTTER-Good Western, 25@32c; inferior,
dull and nominal; new grass, 2SgS3c.
CoTTOSsRED-s9 90 D ton on levee.
Corn MEAL-Firm at s. 20 on levee. and So %
as 90 from store.
CoRN-Firm at 72975c, with moderate stock.
EGGs-In good demand at l69l7c.
FLoUR-Steady at So 0O@9 " for super to
fancy.
H1Y-s16 OO@21 90, as to quality.
IRON TIRs-5@6c.
LARDzIn kegs. l21Ec; tierces. 1l1z912ci cad
MoLGssFs- Louisiana, 4Os7Oc in barrels
syrups, 35@75c.
0ATs-60g62c on levee, 65966c from store.
PoULTRY-Chickens, So 5O97 90, with light
demand.
POTAToEs-New Southern, $500 q barrel I;
old, 81 5O@2 30 U barrel, and dull; sweet, 81 OO
PoRK"Mess, $40 OO@19 50 in small way.
SALT-S2 256l2 - u Dbl. 81 6J6l 70 q sack.
SUGAR-Louisiana. Sale for common TO fair
l2@l4c for yellow and white clarified; refined,
crushed and powdered, l414@l412c; Coffee, A,
u and Q, l2I49lS14c.
MONEY.
So far this has been ono of tho dullest days
of the season in money circles. We could
learn Of no movement of any kind worth re-
cOrding. Currency flows Eastward daily by
express. The New York World says: % Cur
rency. AZ usual at this season, is pouring into
the city banks. Their statement of this week
shows an increase over 81, 600. 900 in legal ten
ders. The increase of sl5, 900 600 in national
bank currency is bringing our greenbacks
from private boards in this country. and the
multiplication of new national banks means
a vast increase of bank loans and discounts,
or bank innation.' Bank imitation is
going wild in n ratio much more mischievous
than the simple printing Of irredeemable pa
per money, or greenbacks, to n like amount.
Bank infation.' as the history of 1886 shows,
can initiate prices without the creation Of a
single dollar Of new money. either in the
shape of coin or paper. Bank credit or loans
used in the vicinity of their creation require
no new money to rest upon.
"Secretary Boutwell, is tanning the fame of
speculation in Wall street, and will no doubt
continue to do so throughout the month of
May by the purchase of SO 900. 600 to II 900 COO
of Government bonds. and by sales Of SC. 900. :
600 to 8, 100000 of gold"
Local scrips are strong. Memphis coupons
are taken at Csc. and sold at 70 to re. County
warrants are firm; dealers would buy at II to
ne. and profess to sell at "A to IS. but they
would not sell any amount at that figure. 1t
is thought that at least 100000 will be issued
before taxes begin to come in. We learn that
one taxpayer rendered 5000 in city coupons,
yesterday, in payment of his city taxes. but
refused to pay any portion in currency. 1t
was not accepted, and may lead to litigation.
City currency bonds are in some demand at Sc
to re. and gold bonds. ex-May coupons, are
quoted at 60 to Gle.
The Knoxville Chronicle says: "We learn
from our popular and efficient State Treasu-
rer, DR.. Win Morrow. that the State taxes
for the present year will amount to at least
three times that of 1870. The valuation of the
property has materially increased all over the
State. while the rate is higher. Treasurer
Morrow thinks that the State Bank notes,
which are receivable for taxes now. will be
exhausted. or nearly so, this year. Though
we differ with Win politically as widely as
men can differ, we viii do him the credit Of
saying that he is a most efficient officer. In
the discharge Of his official duties he has been
honest, impartial and fearless Of the soowls
and frowns Of those who would use his po-
sition for the accomplishment of their base
purposes"