Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-09-23
Cotton Still Declining-Tables Cleared
New Cotton Freight Rates.
OFFICE OF THE DAILY APPEAL. !
aTT~nnN A. ZusFa-.~H4- -. 81 100 q



Quietude and almost silence on Madison
street. without any change OF attitude. The
increased sales of cotton, TO The extent OF
clearing the tables, IS regarded with great sat
lsiaction. Exchange was passed between
banks at par; over the counter buying az 4
discount selling at < premium, At the bro
SSoy0 az that rate, Money is IN the same tight
position, but with fewer applications for ac-
commodatiOn. IN stocks or bonds the only
lhlng we could hear Of was that slVUJ0 Ar
kansas levee bonds were on the market at 10;
some negotiation respecting them was in pro-
greSs when We left the market. The New Or
leans PicGg7Cac says the supply Of funds there
IS sufficient, but lenders exact very fun rates
~Private adviceS from New York reporting a
squeeze in thai market had no visible effect
On the money market proper there, excepting
70 cause more anton on part OF banks in ex-
tending their discount lines. Offerings were
liberal tO-day-more than could be accepted
still the supply OF paper on the street showed
no marked Increase The LOutSVlile Courier
OF Friday reports: The universal complaint
is that money is very tight Tn demand
comes from al ranches OF trade, and none Of
the banks report a superiority Of currencys
put the rates OF dlsconnS are sui . % 10 per
cent the latter being the ruling rate TX
change Is pretty active, but asau OF the banks
are DESTROYS OF having their funds in hand
as much as possible, they are unwilling to
each at par. The rate over the counter is lilo
premium" h Cincinnati GGzeftc reports
ample means az the banks there and q good
deal Of currency sending 20 the country. The
Chicago IHtcT-OceUu reports, 18th Money is
gradually working tolerably close, and appli-
cations for bank fav0rs are now submitted to
a closer scrutiny than 81 any time during the
past three months. The whole tendency of
ule loan market is in favor Of stringency, and
the appearance Of general business indicates
pretty plainly that our banks Will have al
they can attend 10 70 meet the wants OF their
regular patrons daring the coming month.
orders lof currency were quite large day"
The same paper has the following: 9Th
Board Of Trade dispatch from New York read:
Wheat unstable and nOminally l92c lower
owing 10 a deadlock in exchange Ihesdeaa-i
lock undoubtedly means that, owing to the
closeneSS OF the money market there. il is
very d1nncult 70 negotiate grain paper az the
banks for the time being"
Memphis currency bonds, with past-due
coupons, skies, 5o95l; Memphis gold bonds,
skies, %; Memphis paSt-due coupons, 66;
Memphis and Charleston railroad stock. S0:l
ditto LIST mortgage bonds, s.: ditto ID mort
gage ~; Memphis and Ohio railroad stock.
y; ditto lst mortgage bonds, %; ditto
n mortgage, 30 Mississippi and Ten
nessee railroad stock, BG20; ditto LIST mort
gage bonds. 81; ditto I'd mortgage bonds. ia 4
p Mississippi Central railroad stock. Is; dit l
% lst mortgage bonds, s.; ditto ID mortgage
oonds, - Mississippi warrants, T5Go5; Mis-
sisslppl levee bonds, .; Arkansas leVee bonds. 4
1eE2; shelby county new warrants, SSdg2: I
ditto reissue warrants, Sass: ditto eOup0ns I
A-gs5i Bank Of Tennessee money Old, &994;
rants, stGg0.
, since writing the above we have heard Of
~ AfAansa LeEee bonds Offering at ~
LaKeni IUO Arkansas levee bonds, ex-July
coupons were taken at Is; 500 Mississippi /
state warrants, new issue, were taken at 50.
Tennessee Debt.
We give below a statement Of the financial
condition Of the State, a. furnished By the
Comptroller, Ed r. Pennebaker. In this
statement the computation is carried through
70 che INST Of January, 1873. as the bonded
q ebtS fau due in July or January, and there
aore u Is more convenient 10 make the COM
mus The statement. then, may be Il
taken as showing what VIII be the financial /
status Of Tennessee on the first OF January, |
ISIS
The statement is as follows: