Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1871-12-09
FINANCIAL AND COMMERCIAL
MONEY.
MONEY.
PysLio LEDoER 0yvfon,
MEHPHIs. TENN. December 3. 1S7l.j

! PUBLIC LND0EA OttIONs 1
MnPHIs. TENN. December 9. 1S7l. .
The local money market presents no
new feature for comment to-day. The
demand for money is exceedingly light
and money plenty Prime commercial
paper could be placed at 10 to IL per
cent. per annum, and lower rate
would be made to customers. On the
street y to per cent. per month are
the market rates. Transactions in To-
cal securities are now more active, and
a larger business is being done than for
several months.
Exchange is making more freely and
the demand is good. Cotton bills are
taken at J to &c discount, and the sight
checks are sold at ic discount
Gold is steady in New York to-day,
opening at TO- Our dealers buy at 1884,
and cannot get enough to supply the To-
cal demand.
Local securities continue active and
the speculative demand is large.
County warrants are bought at 93c and
sold at 95c. Memphis past-dne coupons
are held to-day at 84e, with no sellers.
Arkansas levee bonds are quiet but
steady. Over 100000 have been sold
during the past few days mot heretofore
reported) at 25c, the principal demand
being from New York, where, it is said
ring has been formed, with a view
to establishing corner and compell-
ing the shorts to cover at high fg-
ure. 1t is also rumored that the State
Treasurer at Little Rock has already
arrangements with prominent capitalists
of New York for funds to pay the inter
est now nearly due. Those holders in
this market who, few days ago, would
have sold at 25c, are now asking higher
figure. Mississippi warrants and Alcorn
money are in improved demand to-day,
and are sold at s5c for auditor warrants
and 90c for Alcorn money. City securities
are advancing rapidly in this market, as
well as in Eastern markets, and but few
sellers can be found; 5S3c was offered
this morning for $4,000 of the currency
issue, Coo being the rate asked.
Gold bonds are held at GO to 64c. 1t
seems now that the lease of the Mem
phis and Charleston railroad first made |
public by the LEDGER, extends fifty |
years, the dividend guaranteed for the
first FIVE years being 3 per cent. and
per cent. thereafter. The excitement
regarding this stock, caused by our ar
ticle of yesterday, runs high to-day, and
some 800 shares have changed hands at
prices ranging from 49, to 45c.
Some holders ask SOC. but that
figure is above the views of buyers.
Another specially in the local stock
market to-day is the demand for and
scarcity of Little Rock Railroad shares,
the last sales of which were we believe
at Ice. 1t is now positively known that
Thomas A. Scott is now, or has been
during the past few days, in consultation
in New York with some of the leading
officials of the Memphis and Little Rock
Railroad, with view to the lease of that
road, and if our information USUALLY
authentic), is correct the terms of the
agreement hare already been made, but
what they are we are not at liberty to
state. Enough is known on Madison
street, however, to create an immense
demand for the stock, which is held at
prices ranging from 20 to 25c.
NEW YoRK. December 8. 1925 am.-Gov-
ernments are active and steady. Sterling ex-
change Is steady at 100. Gold 10 carrying at 8
per cent.