Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-07-03
FINANCE AID TRA1E.
OFFICE OF THE DAILY APFEAL,
MEMPHIS, July 1, 1871


0EEMAEH0 VI IN 0@A4A = - - Z
MEMPHIS, July !, 1871
FINANCIAL.
The financial situation has Ulder-
gone no marked change since ont last
report. At some of the banks the de-
maud for money is reported more
active, consequent upon the close Of
business for the month and slow col
lectiOns from the interior, while at
others no marked Increase Is noticed.
As g general rule, the situation is an
easy one, and is far better than al the
same time last year. So far the banks
have had scarcely any intimstiOn that
| extensions would be requested on
paper falling due on Monday, and it
IS more than prObable that a gnsater
majority OF the paper due viii be met
without difficulty. The bank rates of
discount to day were 10al2 per ceAt to
customers and depOsit0Ts, with ali eX-
ceptiOn at a fraction less on strictly
gilt edge paper. Street quotations are
from IL to = per cent per month, with
but a limited amount Of capital seek
ing employment through this channel.
The New York Bulstja, rom care
fully compiled estimatea, concludes
that the amounts Of interest payable
on Monday next, on the various
classes OF securities, will approximate
closely to the following figures =E
q. s. BIDS lino'g Pse. +. K is's)- S9d,0CG,GO0
Estate b0ldz---.--.... -.- .--...-...- zWUiUOt
bond OF clLtes .-.s..-----.---.--.... a,GtU,uUU
Railroad bonds IsWOsOOU
/ Railroad GWU,0OO
| Banks. trust and ms. companies 100000
ManufacJing, mining, etc, cos 100000
The exchange market was a little
| stronger to-day with limited offerings
and 3 better demand. In selling over
the counter 3 premium was charged
| on New York and other Northern and
Eastern cities, and New Orleans bills
were sold at discount to par.
Buying rates were par to
premium on Eastern bills, and
a discount on New Or
leans. Accommodation transactions
between banks, amounting to 81, 900
were reported at premium.
As far as we could learn, there were
no transactions here in Government
funds to-day, there is, however, a
growing demand. New York qu5ta-
tiOns ; are still stronger, with 8
larger demand than supply at
the current quotations, which viii be !
found elsewhere in this column,
Tennessee bonds opened quiet in
New York st y for both the old and
rev issue, and closed active and
steady al T2l.
New York rates on gold were again
higher, opening at 1l35, a~dvancingktO
li3R, and again declined to the OIen-
ing rate, but at the close advanced
again TO 1l9l. Dealers here bought at |
II2t, but an exceptional transaction Of
$500 Is reported ri 1928; selling rates
were ll34.
The market for local stocks,
bonds, and securities, was bat
fairly active, with but few transac
tons. The principal features Of the
market were county warrants and the |
new Arkansas leveC bonds. County
warrants were IN better demand, both
from dealers and tax payers, and - to |
80 were the offering prices, and 81 to
- the selling rates, in large and small 4
amounts. Bank Of Tennessee mOuey
was less active and a shade
lower; So tO#S6 were the best
rates offered by dealers who sold in a
large and small way at S7aSSc. City
coupons were ia demand at 7Sa7Sc.,
and were sold at Soc. Currency bonds
with coupons attached were inreqUsst
at SHE, and sold by dealers az 53c.
The gold issue was quoted at G086lc.
buying and selling. Mississippi war
rants or "Alcorn money" is ssleable
to dealers at Sec, and by them
sold at &c.; there is, however,
little or no demand, and very
little q offering. Several lots. of
New Arkansas Ievee 7 per cent bonds
were on the market, and SIS, 200 were
sold at a traction above 80. Dealers
quote buying and selling rates at asa
81. Arkansas scrip is nOminally S9a)I.
Arkansas State bonds are nominal at
5j356 for the IS, and - a 80
for the is. Railroad and In
suranCe shares are nominal and
bonds quiet. Memphis and Charles
ton railroad STOCK Is quoted at 365365
buying and selling; lSt mortgage
bonds S5aS6; % do 79aS0. Mississippi
Central railroad shares are l9al94; Ist
mortgages, S2aS3; ID do 74a7j. Ms
siSsippi and Tennessee r3ilrOTd shares
are ISa20; 1st mortgages, S44SS6; 2d 30
74a75; consolidated s per cents, 77a
10 ana LLLLGb DOGh Edl-
road shares are nominally 15a20; 10
Isl mortgages, 7ja76-S10 900 OF the
latter were purchased by a dealer 20
day at 70. add $500 in Little Rock
railroad coupons were taken by the
same dealer a. =. Mobile and Ohio
railroad sterling bonds are gaOted e64
ass buying and selling; dOeX-certs, 81
as2; do s. int, 81; do "a, 61aGS. Selma
and Meridian Lst mortgages are GGaj7.
Memphis and Ohio shares are I9al93;
lst mortgages at 7S4oO; u 60 6ia
81. Alabama Js are nOminally
Gga70 do SIS, 101al03. Missouri
Us are quoted at 94a95. Nashville Is,
59a6G. Insurance and bank stocks are
quiet. Merchants Insurance stock,
59a60. Planters, 42a43. Peoples, 81
aSj. Mississippi Valley, 3Ua5l. Her
naDdo, 64aej. A dividend Of 3 per
cent was declared to-day upon the
stock OF the Union and Planters
bank.
NEW YORK WEEELY BANK STATEMENT, |
NEW YORK, July i. 8 p.m-The bank
statement Is favorable, 1
Loans increased .-....-.....-. y, 255, "a
a Q . aHNE Il