Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1871-02-20
FINANCIAL AND COMMERCIAL.
PUBLIC LEDGER 0FVIcK, /
MEMPHIS. TENN. February 20, 1871. I

AhO iCSCipbo VI PAONbNC nave DCCL
light since cur last report, and prices o.
the leading articles continue firm. Bag
ging is quiet at % to 24c; butter dull and
slow at Is to l8c for common to % to 28C
for choice Western; corn meal is in lin
tied supply, and prices remain firm al
So so to 3 GO per barrel; cottonseed is in
demand at SO per ton; -four is firm and
receipts light-super, Sc to I so; choice
family to fancy, s. to 9 Is; corn is scarce
at 76 to Tic; oats are in good supply al
65 to &c; bran dull at $25 per ton; hay
is quiet at $22 to "a; provisions are
weak; mess pork, 1923 so to "a; dry sailed
clear sides, liz to lie; clear rib sides
III to lllc; shoulders, 81 to &c; bacon
clear sides, ID to l3lc; sugar cured hams
l64 to lie; lard quiet fierce, l3ic; keg
l41c; caddies, l6 to l6lc.
MONEY.
Business opens to-day with a quiet
money market generally, but in some
quarters there is a fair demand for loans.
There is apparently tendency to a
closer working in monetary affairs, but
not so as to occasion any perceptible
stringency, though the sources which
have supplied the volume of currency
are gradually diminishing. The wants
of the business community are re-
stricted, and the banks are fully able to
supply the wants Of the legitimate trade.
Rates of discount at the banks are 9 to
IL per cent, and in the open market
accommodations can readily be Sc
cured at to u per cent per month on
good business paper. Second-class paper,
however, meets with but little favor,
and cannot find investment at less than
2 per cent per month. Exchange is in
light supply and the demand active.
Eastern commercial bills are taken at
to &c discount, and Southern bills at 4c
discount; checking rates are firm at par
on the former and lc premium on the
latter. Local stocks and securities are
quiet, and with the exceptions of an ac-
tive demand for Memphis new currency
6s at 5lc, and Memphis and Ohio rail
road shares at lSc, there is nothing OF
interest to note and no change in quota
tons. Gold is bought at ll0l to l103,
and sold at New York quotations.
COTTON.
The market closed quiet but firm on
Saturday, with sales of 1900 bales, and
opened steady this morning, with an ae-
tive demand from both spinners and ex-
porters. News from Liverpool and the
East was more favorable and sellers adj
vanced their prices on the better grades
to correspond with the advance in New
York, while on the lower grades they
were generally willing to realize at the
closing rates of Saturday until later
news from the East announced lc ad-
vance on all grades, when prices here
were advanced. Buyers were slow to
move, and searched the market thorough
ly for weak spots, succeeding in many
cases in making satisfactory transac-
tons. Sales this morning were heavy,
footing up PIP bales, including a list of
374 bales purchased late Saturday. Of
the purchases 1908 bales were on foreign
account, and 1907 bales of that amount
by one buyer, including lists of 374, 266,
1926 and smaller lots at about l0s to lie,
basis ordinary. Strict ordinary sold at
III to lie; good ordinary at l2s to l24c;
strict good ordinary at l25 to he; low
at l34c; strict low middling in
small lots at 1919 to l35c, and middling
at IA to l4Bc. The market was firm at