Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-06-07
FINANCE AND TRADE.
OFFICE OF THE DAILY. APPEAL, Z
MEMPHIS, June 8, 1871.
STOCKS AND BONDS IN NEW YORK
FINANCIAL.

STOCKS IN NEN YORK.
FINANCIAL.
Very little change has taken place in
the local money market since cur last re-
nort The situation is one of ease, all OF
the banks reporting an abundant supply
Of currency and but 8 light demand for
accommodations. Rates Of discount az
the banks are 1O9l2 per cent per annumi
and in che open market they vary ron
II to 3 per cent per month.
Exchange is working closer as b sales
OF the staple decrease ana the demand
becomes more active. Cotton bills are
bought at par; $4,000 was taken by one
bank to day at that rate. Eastern bank
exchange is bought at Is premium and
sold at = premium. Buying and selling
rates on New Orleans bills are 4 dis
count to par; 2 1900 accommodation was
reported between banks today at 81 90
premium per $1,000.
The gold market is quiet snd huctuB-
lions are slow. Dealers bought nearly
5000 to-day st 11lL. The opening rate
at New York was lI2lz, and the closing
rate 1929.
Local stocks and bonds ar8 quiet, with
scarcely 8 single transaction 70 relieve
the mouotony Of the market. One pIucky
individual did sell $500 Mississippi Valley
Insurance stock al 30 to-day, which. was
the only transaction reported that IS WoF-
thy of note, The Heather Chinee" AYERS
that the dull season this year will show
q smaller number Of transactions Jnan
during any preceding dull season "
for several years. In this opln-
ion he is supported by *
N" who goes farther and says
business will be so completely Frustrated
that all "gutter sEipes" Will seek the
chaiu-gRng to avoid the p~OOr-hOuse. Bank
of Tennessee is held firmly at 50 by deal
ers and is bought at S2(GS3 for the old Is
sue. Our Nashville exchanges quote the
buying and selling rates there Al SS9s5.
Shelby county warrants are bought az -
and sold AZ Is, 49, was bid on 5000 by a
broker to-day but faiIedtO meet the views
ofths holder. Memphis skies are firm al
56057. and 6OG6l buying and selling Tor
the currency and gold issues. Past due
counons are saleable at "A q ire held
firmly al %. Mississippi warrants are
dull but purchasers could be
found among our dealers at 90.
Selling rates ere nominal at 65,
Arkansas warrants are in some demand
from Eastern parties, but none are offered,
It is stated upon seemingly reliable au-
thoritv. that the State Of Arkansas viii,
in q few days, issue $l,OO0,OJJ in SIX per
cent levee bonds, and also that q part OF
the issue is now on its way to this city
NEDEn NEW AGLhH " L4A AAAEA AAA-A4NA
value is, or viii be, we are unable 10
state. Arkansas skies, old, are quoted az
58c. and sevens at 4Sc. Old Tennessee
bonds are quoted at Tic buying, and new,
at zoe. C~omptrOller's warrants are worth
soc. Railroad stocks are quiet and I'M
changed. Louisville and Nashville rail
road shares are quoted 81 re. Memphis
and Ohio is 10000, buying and selling.
Memphis and Charleston shares are
36aS5c; 90, first mortgage bonds, are
boughs AZ 81 and sold al 50. end seconds
at 7SGSO. Mississippi Euu Tennessee rail
way stock is dull at lS9ZJi nrst mortgage
bonds DO, S29s4; second do, 72g7S; Mem.
phis and Little Rock railroad, 8 per cents,
are 72GT4, buying and selling. Mobile
snd Ohio railroad first mortgage bonds
are bought at 81 and sold at SO; second dc
st G7ta6g. Mississippi Central first mort,
cages are S23S3 buying and selling, and
seconds st 1915. Insurance and bank
stocks are quiet and without change,
Mississippi Valley is quoted at 3O93lc
Planters Insurance stock, 42943c. First
National Bank shares are worth l509l5l,
New YORK, June 6, Dds p.m.-The
market is unchanged, active and steady.
Sterling weak at lOz. Gold losning fiat
Money unchanged.