Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-09-06
FINANCE AM TRADE.
OFFICE OF TIE DAILY APPEALr
THURSDAY, September 8, lS2
ErraE"a


Rytn aid of renewals and arrangements
East. the fourth, tight as money IS, passed
without special difhculry-the hardest crisis,
however, has not yet come. It's predicted
days Of crushing st~r1ngency, and cautious
lookout is recommended by our experienced
ever. speakS HOPEFULLY. while blaming The
banks for not sustaining astronger attitude.
in view Of the wants OF the mercantile world,
fl says: "The money market has worked
quite easily throughout the week, and rates
on call loans have ranged at ., 4 and 5 per
cent. closing to-day at about 3G4 per cent
This turn from the higher range Of last week
Was not altogether unexpected. as the condi-
tion OF the loan market is such as 10 permit
OF frequent fluctuations under comparative
~ slisht Influences. We noticed in our last
report that the corner in wheat at Chicago
led NJ INST toa considerable demand for cur
Iency nom TINS city on the part OF the inca
90 banks; but after the combination 10 put
up the price of wheat was broken and the
market suddenly fell of 10 a very low figure,
the effect produced was naturally that OF
checking the shipments Of grain 10 market,
and consequently the demand ior currency
f7om the West was Immediately abated. It's
considered favorable by many partieSsof far as
our money market is concerned; Ihai the ior-
wauding OF grain To market has thus been de-
layed, and that the crop VIII De allONeu 20
come in much more gradually Lhah wound
otherwise have been me ease. ne BshsISi
feature, OF the money market nave not ma
Lerially changed, except as above nOueeQ,
and while the position OF the baiiks Is sucn as
10 make them very cautious IN regard 70 Their
reserves IL is supposed that 10 viii be an OBJ
5ecr with the Secretary OF the treasury 70 /
keep money easy during the autumn months,
and that his influence viii be. 50 1ar as pract1-
cable. on that side. The last statement Of our
associated city banks showed a decrease in
6iIi.ieS stood Al s3sS gU0, and the total re
serves al sEJ76.10, being 5.GN-S0 in excess Of
> per cent. Of the Liabilities, a decrease OF
Sl.54g.-u1 from the previous week In Louis
Vile. the Journal OF Wednesday states: The
money market is working faVorably 10 Dor
rowerS. and frst-elass paper is in good de
- nnn.nU hnmEE Vel there Is Very little
disposition to place money in call loans, or to
favor any but strictly prime commercial pa
per. Rates OF loans and discount on time
paper are steady at sgle per cent exchange
j. in abundant supply TO meet the current
wants OF trade, and rates easier, but without
any QuOfaDle variation IN rulhs- NAh-
Ciuuati Enquirer quotes an increased demand
for money. generally supplied al 5G5 per cent
and a steady demand for Eastern exchange,
bankers buying at 50 cents per $1,000 discount
% par. dep0sitOrs being allowed the latter
rate. The selling rate was % cents per SlVO
III our market exchange continues scarce;
sou1p commercial paper is reaching the banks
at par, and between 6anksA . 20 per Sig9
j. paid. Gold Was taken by brokers at liza
IIgL,. CITY bonds are attracting no attention. ;
I4Sr due coupons are estfmated TO be worth
FULLY Or, but none are Oner1ng- Charleston
rlfIra7d stock still remains in dignlned
retirement Arkansas leyee, after an
eclipse violent in nature and tolerably-
holders sav intolerably-long in duration,
once more step 20 the front and make
its modest bow 20 public, but with dlm1n-
lSled reputation SWv AhhHes AeNee 1oIus
selling at III without the July coupon COun-
~ bonds are quietly inquired Tor, and today
Saa changed hands at 50, showing an upward
tendency.
Memphis currency bonds, Wlth pasruqe
orDonS. SKIES. $3.50: Memphis gold bonds,
sizes. coz Memphis past-due cOupons 6Lg56i
Memphis and Charleston railroad stock, 30;
ditto lst mortgage bonds, - ditto q mort
ggaga. 80; Memphis and Ohio railroad stock,
III: ditto lst mortgage bonds, 81; ditto
al mortgage, 50: Mississippi and Ten
nessee railroad stock, %; ditto lst mort
Esaa bonds IS; ditto "a mortgage bonds, ia
y. Mississippi Central railroad stock, 10; dit
10 Isl mortgage bonds. 8; ditto 2d mortgage
bonds u. Mississippi warrants, T665, Mis-
sfssiyui Ievee bonds, 80; Arkansas leVee bonds
2lT22. shelby county new warrants, Sgs2;
ditto reissue warrants, e2ge8; ditto coupons
sos. Bank Of Tennessee money; old, 8tGsZ;
new, S5a4o; Tennessee Comptroller's war
rants. SSe9l.