Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-07-13
FINANCE AND TRADE.
OFFICE OF THE DAILY APPEAL, I
FRIDAY, July u, lS2. !
FINANCIAL.

Exchange remains very close, and
currency is shipping 70 the Western
cities TO secure a supply; $4,000 was
done between banks at 81 per 1000. New
Orleans exchange has suddenly grown
into some importance; it is scarce and
the banks charge par for il. Money is
very tight, and the tightness comes early
this year, Notwithstanding the good
prices obtained for cotton. The cotton
money has gone into few hands, on ac-
count of the scarcity of the crop, and
the general community are left "high
and dry A broker took 5000 of gold
at 1871. Two city currency bonds sold
"a. Letters are continually arriving in
quiring about the payment of the July
interest by Mayor Johnson. MANY hold
ers are Indignantly ordering their cou-
pons TO be sold, but the fudge ordinance
which the Mayor and Council called
the sinking fund ordinance-ato the
contrary Notwithstanding" not over 20.
can be got for them. IT IS said they are
to be taken for past due taxes, but not
for present due. This will be an excel
lent premium on refusing to pay present
taxes at 100 cents on the dollar, when
by waiting until they become past
dur" they car be paid at zoe per dollar.
This is about as sagaci0us a policy as
could be expected, where keno gamblers
and others are allowed TO break the law
on paying for it Charleston railroad
stocks have not appreciated a fraction
since the great Scott became master of
the forces, smiled mOdestly at the coun-
try south of US, and assured Vickshurg,
Shreveport and New Orleans that each
Of them shall become an EIdOrddo
-. 81 -ar~ - HE n-na-rrl w-a.A
Memphis gets no smiles, no speeches, no
promises-what does the eclipse pOFtend?
Not only have Charleston railroad stocks
failed to appreciate, but they are rapidly
sinking to the lower tones of the gamut.
Many holders have lost their admira-
ton for them, and are willing, anxious
TO unload; $50 shares were on the mar
ket yesterday. in q pair of hands, at
80, and no buyer was found. MiSsis-
sippi leyee bonds are still in demand; As
was offered this morning for S25,OO0.
Arkansas levee bonds are now celebrated
musically; their owners sing, in a chO-
rus sublime in its expression of grief in
d~ignation, and despair: All! no. we
never mention them, their name Is
never heard; our tOttering lips no longer
speak that once familiar familiar word"
Arkansas Levee bOads, nominal.
County scrip, 9O995. Barbour Lewis,
certified, S56SS. Memphis and Ten
nessee railroad LIST mortgage, 81; I'd
mortgage, 723. Memphis city railroad,
464. Bank of Tennessee money, 92994
for old issue; new issue, S59S7. Ten
nessee COmptrolieris warrants, SO. Lit
tie Rock railroad first mortgage bonds,
80. Memphis city gold bonds, ex-
coupon, 60; currency bonds, 534@4.
Memphis past due coupons, 20. Missis-
sippi new, 1872, warrants "A. Missis-
sippi Censral railroad stock, I3. Second
mortgage Memphis and Ohio bonds at
50. Charleston railroad stock, 80. Mis-
sissippi Ievee bonds, 45.
The New York Chronicle of the 9Th
has the following quotations: Arkansas
Is, Little Rock and Fort Smith railroad, 1
%. Memphis old bonds, so; new, 81;
indorseme Ofthe Memphis and Charles
ton railroad, IS. Memphis and Charles
ton LIST mortgage, IS, Memphis and
Charleston railroad, IS; ditto I'd mort
gage, Is, IS; Memphis and Charleston
railroad stock, 80. Memphis and Ohio,
los, s.. Memphis and Little Rock rail-
road, LIST mortgage, 81. Mississippi
Central, lst mortgage, SIS, 81; ditto I'd
ID mortgage, S., 80. Mississippi and
Tennessee, 1st mortgage, 7s, 50; ditto
consolidated, IS, 20. Tennessee State
coupons, IS. Memphis city coupons, 20.
Arkansas levee bonds, 20.