Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-07-07
FINANCE AND TRADE.
OFFICE OF THE DAILY APPEAL,
MEMPHIs, July 6, 1911
FINANCIAL 3

he's EkANANClAA
If there was any change in local
monetary affairs to-day, the reports
given by the officers Of the different
banks and banking houses were at
variation with the situation. The
demand for discounts was extremely
light, and is by far less active than at
this time last year. which further
verifies the anticipatiOns of the AP-
PEAL some months since. AS a gene
raj rule the mercantile community are
crediting their customers, planters, on
" to q limited extent, while Others are
doing almost q strictly cash business,
and thereby making less frequent calls
upon the banks. Rates of discount
are steady at 10al2 per cent per snnum
on No. l short date paper, and IL per
cent per month for good notes. To
customers exceptions are made, espe-
cially those who, in the busy season,
carry large balances In the open mar
ket rates vary from IL to p per cent
per month, with very little good paper
offering. Exchange is in light de-
mand, and cotton bills are coming In
more freely in consequence of an in
creased business in the staple. Rates
are par to Z premium buying on COM
mercial, and In selling / premium is
the uniform rate at all the banks; the
counter movement is light however.
I Transactions in coin were also light,
and, excepting one or two purchases
of gold, nothing OF importance is re-
ported. Dealers paid 1l2fall24, and
sold at New York rates, which, at the
close, were 113s.
Local stocks, scrips, securities, etc,
were quiet, and without sny move
ment Of interest. There was an i'm
prOvement early in the day for county
warrants, and a disposition was mani
tested on the part of some dealers to.
advance rates, bat did not realize on.
the advance in more than one in
stance; buying rates we're 79aS0, and
nearly all were willing to buy at the
latter figure; selling at S1a82. Bank
of Tennessee money is dull, with
dealers Offering but 50 on round lots,
and selling at IS. City bonds are
firm at 544s55l buying and selling, for
the currency issue, and 6Oa6I for the
gold issue. Past due coupons r
bought by dealers at so, and III in
demand. Mississippi warrants might
find a purchaser among dealers at so,
and can be had at IS. Arkansas levee
bonds, new issue, are in demand at
344, and can, it is said, be bought from
dealers at 354. Arkansas scrip Is nomi-
nally 89a9I. Arkansas State bonds are
nominal at 55a56 for the 6S, and
49a50 for the Is. Railroad and In
surance shares and bonds are
quiet. Memphis and Charleston
railroad stock is quoted at 56a96k
buying and selling; Ist mortgage
bonds SjaS6; I'd do 79aS0. Mississippi
Central railroad shares are 19a194; for
LIST Mortgage bonds dealers report 84a
Sc as the buying and selling rates;
ID do 75a76. Mississippi and
Tennessee railrOrd shares are
1SR20; LIST mortgages, 844a86; I'd do
74a75; consolidated s per cents, 77a
78 Memphis and Little Rock rail-
road shares are nominally 15a20; do
1st mortgages, 75a76. Mobile and Ohio
railroad sterling bonds are quoted 864
ass buying and selling; do eX-certs, 81
a82; do IS int, 81; do I'd, 67a6S. Selma
and Meridian LIST mortgages are 66a67.
Memphis and Ohio shares are 19al94;
40 shares were bought by a dealer
to-day at our inside quotation;
LIST mortgages at 78a80; ID do 64a
IS. Alabama SIS are nominaIly
69a70 do SIS, 101a1O3. Missouri
6s are quoted at 94a95. Nashville 65,
59a60. Insurance and bank stocks are
quiet. Merchants Insurance stock,
59a60. Planters, 42a43. Peoples, "a
ass. Mississippi Valley, 30a31. Her
nandO, 64s65. Bank stocks are firm
and without change. A semi-annual
dividend of ten per cent was declared
a few days since by the directors of the
First National Bank, and is now be-
ing paid.