Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-05-17
FINANCE AND TRADE.
OFFICE OF fHE DAILY APPEAL,
MEMPHIS, May 10, 1871.

NHENIE OF EME HMaAM AEEEAHr
MEMPHIS, May 10, 1871.
FINANCIAL.
A Washington telegram Of to-day an.
nduncas that Commissioner PlssssntOu
has received from Secretary Boutwell, 8
copy Of the opinion Of the Attorney Gen.
sral, reversing the orders issued by the
commissioner in January last. not % col
lsct tax on dividends, etc, for the last i've
months of 1870. ACCOMMODATING the pin
ion was p request for him to direct the
revenue officers to assess and collect the
tax in accordance with tho decision. This
order is general aud viii be Immediately
transmitted TO AN the revenue officials
throughout the country.
There are no material changes to re-
port in the condition of local monetary
affairs. The banks report a slight increase
In the demand for accommodations, but
note no changes in the rates Of interest.
Customer and dapOsitDrs' papers are
discounted at I09l2 per cent. the inside
rate bsine charged ~favOrbes on short
date paper. Outside paper meets with
buthttle favor, and where six months or
a year is named on q note the cold shout
der Is generally The result, unless it be
dOubly Endorsed. In the open market
there is but littls floating capital seeking
investment, and borrowers generally are
" AaAA 80 NAA4 INV va @LE@LM HNA NNAaH NeA
month, where the broker is posted Is TO
their circumstances and need.
The market Tor Eastern exchange rules
steady. Cotton bills are coming In more
freely, bat are not yet equal 70 the de-
msnd. Rates are from par to Ito pre-
MUM buying, the exception being TO
regular customers on large amounts.
Eastern and Northern bank exchange is
taken readily at Sl59A3JO0 premium per
I HnHHn and - unhH at An nHEunrnnn
Local securities are quiet with a modsr-
ate demand. Memphis skies, currency
/ issue, are 55M@55L, buying and selling;
/ the gold issue Is 00lg5l buying and selling.
{ Past due coupons are dull, at 6Sa70
County warrants are IN request at u by
dealers and 7ZL by street operators. and
ars sold at %. Hzuk Of Tennessee money
Is in request aC % aud is sold at IS. Rail-
way shares are In better demand. Mem
phis and Charleston seemed 20 be the
Leading feature here today, and a demand
was also observed from other points. S51
was offered by a dealer io- So 600. and re-
fuseds 50 was paid on smau amounts.
Mississippi and Tennessee shares could
be palmsdDh a. about A. were there auv
Offering. The tact is, however, that with
the aid of b Briuklsy ghost aud the
"Heathen Chinse" ali that owned In he
city or vicinity has been placed in the
city Golfers sud 1nO questions asksiU T.
Is even openly stated That NCCUmb@ rep
ressntstive, while here. Gried 10 effect a
combination with those who were pur-
chasing for the CITY, and was taken into
condolences Just far enough 20 permit BIN
20 see for himself how useless il was for
MCCOmbs 70 place himself in opposition I
to the city; audit IS furthermore stated
Ehsu tbs broker" rot l8fl on some Of his I
commissions due from MgC0mbs, aud
that be las been t~el-grspliug on them I
ever since. At all events he IS q "ci1y"
buyer, now. Mississippi warrants or
"Alcorn money" Is sbu1dsuE, aud he
market Sd 0versGocksl that even small
amount cannot be sold. About $4,000 4
was offered upon The market to-day. on
which 80 was The best Oner made. Deal
ers sell AZ 94Gg5.
Gold was in m0derats demand. and of
fsrings we're better; III being the buying
rate. aJ which our dealers took In all some
5000. Two thousand dollars was sold oy
a dealer at ma
Tennesses bonds advanced I'm New York
to-day, al 7Oh tJr the ola and 7ya for the
new issue.
Regarding the financial situation at
other points, We compile as follows from
exchanges. In Cincinnati the money
market is easy, but the majority OF bank
ers report q decides Improvement in ne
applications for discount. Most Of the
paper Offering is of short date. Regular
deposlJOrs wQo present good snort date
paper are credited A. eSs per cent. E-st-
ern exchange Is ia much better supply,
bnE the demand is fair. Rates srs parCL5Oc
per thousand premium buying and I-lJ
selling. In Baltimore money is
80 - - On. An ~" oLI7ahs LA5
y rs
,-lLI. rlr - 80
~ SssAO tL
So Es.--g
= anu
ms
PL9L AZ L'I-' PllIl7 business
~
49,
In Boston money Is sQunuanG a. low
rates. me Fosl Says ~ any capJlous
mpney-lend6r Lu whose mind there sill
ing ans a shsdo" Of 49ual - To Lle rsLa-
lions oisuppiy alo u5nau1 iu -ls Boston
money MafA-L lJ may perhaps 90 wen
10 CAL nus a-o5---5A TO Lls Slsar-
statSmeHl -9- Llls week which
slOWs tLaI sAo lL4iFletA Neposies OF the
Sos1oh hahAs nave no" rescued an I'M
pAFaueleQ aho a hali mi
~, ~ U-5-lo-a % "llcn
-'eto 100 .I9 80
"eSA ~ aa-9 --'la nave N1FA-Csu
y yI3 .Ig -
~ ~
49, va 1-7
oo0.a5L'o 49, r. ~
- 'H
.
In It's Ontl0 recent statement
d the national banks OF chicago and The
gradual disappearance OF uaLlOhal bank
notes nom clrcuteJloni bIe 4ft0usHs OF a
recent daJe says; "A curious feature ln
Win tne paper money OF TINS
country IS being Developed pelHg ugJnlDg
more nor less IMAM me disappearance OF
100 - ,i.-u- t'7
~ 80
Ino,c-oa 49,
- - ~ g4.-g,. 81 49, -a,=---
- - T.----4-% ,
80 ne i- ~ F---.-o 80 go Q
"a s5e 19T ~ 1.gs1 +g57 - 80 - {
- - -f-.fEs-. $3.50 - ~. ~
- - -v+--- - =. J
$3.50 Z
-I soell- =. 'L9 -y ~ I
ssa.emo-t7 L-Ao9 -L OuI5 ol A@so year Z
re AuI nearly bHe sam5 u-sliopoftloh
IN the ~aIteiLIoL OF AEf- L5sh 10 was 7
l7ctiy LL1 -n5 o-LAa ah1ulN nave q
l5afly ftsOoOtOoO ot eka- Js-Oei notes !
% make IEeit reserves go2o. ~ D
70 hsPPenea Lhs' lley mad DuS SZ5LoSl /
'I o9Jh NsLioIaI 6-lA noLes ana legeI ,
euoels- AZ tha connection 10 has ooeu y
.uzEe5Led Lhet' on aat4ioAys-Mmlh are q
ne uaJ1 86Lrta-g 1pi1t-s4 10y tn5 JOmp- d