Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1871-02-06
give the following information regarding

give the following information regarding
the provision market at that point;
The packing at this point has about
closed, the receipts being light, footing
up for the week about 5000 head. The
total packing TO date, including dressed
hogs, will reach about 100000 head,
against total packing last year, 1897 1880.
The war news from Europe received
early in the week, had, contrary TO all
expectations. depressing effect on the
provision as well as cotton market. The
result had been discounted sometime
since, and the large demand that was to
result from it did not come. The mar
ket opened firm, but gradually weak
ened, closing dull to-day, with further
downward tendency. Holders are free
sellers, but buyers are ofiish, except
at lower figures. The demand for
consumption is only moderate,
although there is some demand
for future but at lower prices than
holders are willing to accept. Dry
sailed or bulk meats were inquired
for early In the week, but the prices asked
by holders led TO but little business. At
the close the market is dull and weak.
Shoulders are freely offered Sc. Rough
sides, 9ic. Clear rib, l0ic, and clear,
l0ic-all loose, but sales could not be
effected to any extent at over these rates
packed. Future purchases could be
made at to-day's rates. Hams, l2s to
l23c-loose. Bacon, in sympathy with
other products, closes dull and lower.
The offerings are large both for spot and
future, our packers preferring to sell
bacon rather than bulk meats. Shout
ders sold early in the week at l0c, but
to-day 99c would be accepted. Clear
ribs advanced to l2c; some sales were
made at ll5c; closing quiet at liz.
Clear sides advanced in same pro-
portion, but are freely offered to-day at
l2c. Sugar-cured hams, choice brands,
held at log TO Ice, canvased and packed,
Plain bacon hams, l5c, canvased. Break
fast bacon, l49 10 l5lc. Mess pork open
ed firm; sales at $22 so cash and seller
February; $22 IS seller March; but I'M
der unfavorable news from other points,
became dull and lower To-day it is
freely offered at $22. No buyers over
$2l so. Lard is the only article which
has held its own. Sales of city kettled
TO fill contracts atl2ac. There are more
sellers than buyers at this rate. Choice
country l2t to l2lc; kegs or buckets
held at l4}e; prime steam, lie; head
and gut, llle. Refined lard-tierces,
l2sc; kegs, l4lci caddy, lO-pound, l43c;
5-pound, l5c; 3-pound, l5fc. ua
MONEY
The movement in money continues
moderate, and is largely confined to
local checking. The banks report only
a moderate demand for leans, and a good
supply of currency. Several of our
largest banking institutions are now
extending their fayors to outside parties,
where they are known to be first-class, "
or to paper-termed " gilt-edge," at II per
cent, and to depositors at 8 to IL per
cent. Street rates are from ! to 4 per
cent. per month. Exchange is in fair
Eastern commercial bills are
taken at to &c discount, and New Or
leans at 1c discount. Checking rates
are &c discount to par on Northern and
Eastern points, and par to fc premium
on New Orleans. Local stocks and secu-
rites are quiet and unchanged. County
are GA to 66c buying and selling. Bank
of Tennessee money Is to Tic, and Mem
phis city warrants and past1due coupons
68 to zoe. Gold advanced in New York
and opened at III. Dealers buy at ll0l
to llO3 for small and large lots, and
would sell at lllb to ll2 there is, how
ever, very little offering and scarcely
any demand. Government securities
opened frmer, and sterling steady at
lO94.
The market closed steady Saturday at
14lc for middling; sales were 1850 bales.
To-day the inquiry is limited and the
market inactive in consequence of re-
ported decline in Liverpool and dull
market at New York Sales to noon did
not exceed 300 bales, at prices ranging
from 10 to l24c for low to ordinary, l3to
l3lc for good ordinary, lac for low mid
ding, and l44c for middling. Pur-
chases of strict good ordinary are re-
nortad Of I9lc and strict low middling
at AZ. The purchases at these prices
were small, however, and confined to
small pickup lots of one, two and three
bales. We quote:
OTuludTy NtlGL2
Good Ordinary @l3H
Low gl4
mldullng .... egI4Ia
Strict Mlddllng."............,.... 9li4
Good Middling......... .............."...-l5 @l5h
COTTON gTATEMENT