Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-09-13
FINANCE AND TRADE.
MiddIing Cotton 20c.-Exchamge
II Discount to IA Premium
told II2 to II2 Is.
Tight MOney-Cheap Shares-Lb.
eral Receipts.
FINANCIAL.
OFFICE OF THE DAILY APPEAL.

HNEA - ~
wizard once had a contract with satan IN
which thai amiable gentleman agreed 70 do
all he was required, but when the wizard had
no more work 70 give his hand" the latter
was 10 have the wizards soul. The wizard at
last set satan spinning ropes out OF sea-sandi
and the job is not done yet. Tit reporter nnds
a regular sea-sand task in Madison street. he
porting proceedings there, like the deylIs
ACKNOWLEDGEMENTS, IS not only durable
that can be bOrne-but il is mOnObonous 30
many grains OF sand, and all 50 much alkei
and then the rope. only pull on Il and IL is
gone. 20 is Madison street Just now monotO-
nous as bread 20 breakfast, and such tremen-
dOus schemes and prOspects-ai as strong as
the Sea-sand ropel To-day ditto might be
written on every hagstOne from Front street
20 Main. Business is duh. Exchange remains
about as repOrted-sOme are buying at 4 on
and selling at = premium, Others buy at =
discount and sell AT = prem1ums the former Is
the prevalent mode. That many "regula
customers" having got all they can expect
from the banks, are still in want, and are
seeking the wanted aid in the street at three
per cent. q month, is universally acknOwl-
edged. The tightncSS is extreme, not because
busiueSS is dull, but because the unexpected
large amount Of business done last month has
required an unlocked Tor use OF capital The
louisville Journal reports an easy money
market there, in Chicago IL is Close, and likely
fo br more 50. The Chicago Tribune SAYS:
within the last six years the bank capital Of
ghicarO has Just about doubled, and ft seems
probable that IL viii be necessary to double il
MEDIATE the increasing volume OF trade"
Cincinnati papers repOrt an increasing de-
mand for loans, and mainly for ordinary bust
ness PURPOSE. The Louisville Courier OBJ
serves: @The New York money market for
the last four weeks has been steadily verging
toward a contracted condition In the last
two weeks the reserve has been reduced by
about &..Tp1Ufl and IS about S,OuQU0 lower
Than at this period OF ISL More OF less appre-
lenSion Is expressed by all the metropolitan
prz, but 10 is suggested by the FfnGneiHl
chronicle that this very apprehension viii
operate 10 prevent any serious embar-
r7Ssuleut. The money market however, ise X
citabie and somewhat nerv~Ous.eXhibiting con
siderable hucJuatiOns daily In the terms OF
Eoaus-n A big demand for money, with New
York complaining Of u~ghtness, is embarrass-
inc. but we hope here that cotton viii soon let
uSour Of the strait. Brokers paid ll24l2E for
cold one house took 500 at these rates. a lot
81 so shares Charleston were offered at 80, but
had not been taken up 10 one o'clock One
broker took a $50 bons- SKIES with $50 past
due coupons, Of the Memphis and Ohio rail-
road. az 50 all round. The quotations below
are On past transactions, but in the present
-e.aguancy II is difficult 10 distinguish the
romlnal from the .live" quotations.
Memphis currency bonds, with past-due
upons, skies. j5G57; Memphis gold bonds,
=, 90; Memphis past-due coupons 6oi
Men ophis and Charleston railroad stock, S09
=. n rto LIST mortgage bonds s.; ditto ID mort
80 " Memphis and Ohio railroad stock,
To- al 20 Isl mortgage bonds, s.; ditto
81 mo, Tgage, 81: Mississippi and Ten
oessee ra EIrOad stock, p; ditto lst mort
gaee bond :, s.; ditto % mortgage bonds, ia
$. MfssigSf Dpi Central railroad stock ID; dit
Isl mori rage bonds, s. ditto ID mortgage
bonds u. a fssissippi warrants, 75GS5; Mis-
sfsSiuni Iayee bonds, %; Arkansas levee bonds,
shelby county new warrants, 4Gs2;
diffO reissue wa rrsnts, o2Geo; ditto coupons
Sass: Bank OF Ie nnessee money Ola, S-9s4;
90; Tenn essee Comptrolers war