Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-12-09

FINANCIAL
Exchange was again in plenty II reg-
ulsr rates; lN6s discount on Few YORK
and the east 1tG4 on Mo- Orleans
Money is in tremendous remesf and
the street brol IeE have a bnsv fine. 3
TO 3 per month are commoo rates. and
higher still is. obtained CONTROLLERS
State warrants are in pood request. and
200 We're boz lght at 925, selling at 95.
For gold III was again the rate. The
new Presid Rnt Of the Charleston rail-
road, John d. rather, Esq, has ap-
pealed, IN. a Circular dated Huntsville.
Woven er y, 70 the stockholders to ad-
vance zen per cent. upon their stock.
he ga 3 Tin looking over the Affairs of
the Company, I find the assets &C the
cor JpSny amount to S57l, 649 Is, and
uA liabilities to S5S5, 932 IS. But these
liabilities do not include a debt to the
State Of Tennessee Of S225, 900, Of its
bonds with coupons from January, 1871.
Seventy-fve thousand dollars of which
are passed due aud the balance running
70 maturity. The assets OF the
should be increased by the value Of the
McMinnville and Manchester railroad.
thirty-five miles long, and in running
order, and equipped for its business. In
considering the condition of the compa-
ny, the undersigned feels very confident
that its assets cannot be relied upon to
pay its pressing liabilities, and that
some extraordinary means should be re-
sorted 20 by the company to ave its
capital stock OF S5,3l2 725. This can
only be accomplished by Hercules help
ing himself. 1t has occurred to nv mind
that in the present ~juncture an appeal
TO the stockholders viii not be in vain.
Ten per cent. upon the stock would re-
alize S53l,272, and would place the COM
pany in condition beyond question, and
would save, beyond controversy, the en-
tire capital stock of the company. Who
would not be willing to advance that
small amount TO a his capital? In or
der TO induce such an advance from the
stockholders, the company propose to
pay ten per cent. per alnum upon suco
advance until it is returned, and as. se-
curity for the ultimate payment of the
same, it viii pledge the rentals of the
road, consisting of S79,690 due from the
Southern Railway Security Company
on the hust of March, 1873, and a ike
amount due from SANE source every six
months thereafter. IF this recommend
alton TO TIE stockholders is met with
the same spirIt that actuates man in the
pneserNaf1oI Of his Individual property,
8 dely say-iD which your Board
OF DIR ectors viii heartily concur-that
the eapitsl stock Ofthe company viii be
pre- Rrved, and gradually grow in the
T.&rket until il will reach so to 20 cents
On the dollar" This recommendation
IS signed by Directors G.. P. Beirne, J..
c. Bradley and J. ]. Donegan. The in
dmation that II this proposition is ac-
'cepted "the capital stock of the cOmpa-
ny viii be preserved" implies a contra
~ that stockholders cannot contemplate
with much satisfaction.
Memphis currency bonds, with past
due coupons, skies, 53G54; Memphis
gold bonds, skies, 90; Memphis past
due-cOupOns, s.; Memphis and Charles
ton railroad stock, 263; ditto Ist mort
gage bonds, IS; ditto I'd mortgage, so;
Memphis ar Ohio railroad stock, l9;
ditto lst mortgage bonds, s.; ditto I'd
mortgage, so; Mississippi and Tennes-
see railroad stock, 15d20; ditto lst
mortgage bonds, S.; ditto ID mort
gage bonds, 70l77l; Mississippi Central
railroad stock, Is; ditto lst mortgage
bonds, 81; ditto 81 mortgage bonds, 81;
Mississippi warrants, 70GS2; Mississippi
levee bonds, 40; Arkansas levee bonds,
-; Shelby county new warrants, SSa92;
ditto reissue warrants, S2GS6; ditto
coupons, S3@S5; Bank of Tennessee
money, old, 1904; new, S3G3T; Ten
nessee Comptroller's warrants, $685..