Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-04-17
FlRAECE AND TRADE.
OFFICE or THE DAILY APPEAL, I
MEMPHIS, April 10, 1871. J
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No nav fsature Of interest has beer
noticed in the discount market since Oul
Issr report. The demand for loans Is eX.
tremsiy Light and ear banks are some
what puzzled Is 20 what profitable dispO'
Eitiou they can make Of the large amounts
of currency they are o. carrying. There
fsnOthing iuthem ercsntiletra de requiring
much money, and there are no speculative
enterprises sufficiently inviting 70 tempt
capitalists, snd so far as we can interpret
the future. there is not likely 70 De any
call for money for some time. The rates OF
discounts in bank are 9 10 10 per cent .
and about tbs same in the open mafh6ss
Eueh is The case and so abundant the sup
Div Of funds, that we learn OF our mer-
chants anticipating their notes o nileen
days and a month hence, and are cancel
ing them, saving thereby the interest Tor
hI-esu VI thirty days. Ins would Inol
e4ta rhst our mercantile community are
in -rr1sDarOus condition, and taken in
consideration with the facts that deposits
are unusually large for this season Of the
year, proves ~c0nclusively that although
agents and drummers by the score have
been sent out by st, Louis, Louisville and
other cities, q own trade has yet to feel
the effects OF their efforts 70 withdraw the
patronage of the country nom as.
There is no Improvement in the supply
of exchange, and the demand is fully as
active as during the past several DAYS.
Some few accommodation Transactions
were reported between banks at 81 80 per
5000. one bank obtained $4,000 ct this
rate and would have taken more. Cotton
bills come in slowly; $4,000 was received
by one of b leading banks for which
par was paid. Sight exchange on North
srn and Eastern cities would ind ready
purchasers Iwere round sums ofsred) at
81 50 TO S2per $1,000. While small amounts
are taken az par, selling rates are hrm at
&c premium on all Eastern and Western
cities. We quote the current rates as fol-
lows: New York. Boston, Philadelphia
and Baltimore, par buying, and &c prem
ium selling; New Orleans, 8gkc dis
count buying, and par selling.
In local securities there is very little of
consequence transpiring. County scrip
seems to be the main feature; dealers re-
mort 7OGTI as the buying and = as the
selling rate. A sale OF SLUJO was maze by
a dealer at 7l5z,
cold was somewhat higher both in buy
ing and selling. in consequence OF an 40
vance Of = in New York; flO@llOA was
Ihs rate paid. and lI0Z@lll the selling
rate. About $500 WAS was purchased by
dealers during the day at the inside rate;
toward the close, however ll0Z was Of
Tered on lots to make shipments. Bank
of Tennessee money is bought at 75c; sell
ing rates are zoe. Memphis skies are
bought at SOC and sold at 56Lc. Gold
bearing bonds are 62963c buying and
selling Mississippi and Tsnnessss rail-
road stock is in request st Zoe, and is sold
81 2)c.
The Nashville B1RHer Of the 18th inst,
quotes current and unCurrsnt Tennessee
money anu coupons as follows: "Ten-
nessee money is in good demand from
and is bought by dealers at %
F-~HH aud En|n ar -ha New nEETa hanE nj
Tennessee is bought at S3c. Post notes
are quoted al 2sa30c. Past due coupons
lStaJe) are quoted 81 $4,000. COmptroll-
sr's warrants are bought by dealers a. %
GT5c. Uncurrent money is dull and We
quote buying as follows: tennessee
Bank OF tennessee, old, "A; Bank OF Ten
nsssse, new, y; Bank Of Tennessee TOR
bsttl, 81; Ban OF Tennessee, post notes,
.; Planters Bank, !; Union Bank, 81;
Union Bank certificates, par Bank OF
Chattanooga, s; Bank of Commerce, par;
Bank OF Knoxville, IS; Bank OF Memphis,
s.. Bank Of Middle Tennessee, 80; Bank
of Paris, par; Bank Of she Union, p;
Bgnk of West Tennessee, p; Bucks Bank,
nar. CITY Bank, gu; Commercial Bank, %;
N-erchants' Bank, par; Northern Bank,
par; Oooee Bank, 8; Bank Of Shelbyvllle,
s.; Southern Bank, -; Traders Bank,
psr: Life and General Iusuranc Company,
south Carohus-ENchangs Bank, @;
Peoples Bank. s5s Planters and Me-
chanics' Bank, s.; State Bank, 5; South
western RalrOsd, 90; Union Bank, 95.
AIabama-Bsnk of Mobile, 90; Bans OF
Montgomery, 8; Bank Of Selma, 8; Cen
tral Bank, 2; Commercial Bank, 2; East
ern Bank, 90; Northern Bank, 45; South
,srn Bank, 80.
uoCEs AED BONDS IN Z YORK,
NEw YORK, April -, 1928 a.m.-GOv-
ernmsl Is strong, with o general advance
STARTING afag6v At ITO Gold