Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-02-06
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The week has been one OF sass financial
IL % commercially. Money hiss been
IN good supply, while the demand has
been only moderate, except IN the case OF
cotton factors who have held n TO their
cotton, looking forward TO q higher price
this week. This vesk promises to be
more active in cotton circles than last
week. Prices are very satisfactory, Gud
though they may 60 higher, the factor and
planter bre disposed to ssll, as a "blrd in
hand is as good as two in the bush.n The
g51srsl money market has been marked
with esss and abundance. Rates Of dis
count are steady at 10 and u per cent per
sunum.
Exchange wss in fair demand and
making freely. Rates are unchanged, y
discount buying, and par selling on ali
pOints.
Gold advanced in New York 70 IIOK;
dealers here pay 109Hc.
There was nothing doing in the 10
cal stock and security market Of interest.
Arkansas Isvee bonds, the principal
feature in tbs market, were firm at 29G
SOC. There is an irQuiry from New YORK
for f200, coo, but parties holding sYinoed
bnt little disposition to set q price. Mem
phls and Charleston stock was on the
market st S5c, but was not taken, S7Hc
being the highest bid. 1t Is not supposed
that there viii be much doing in these
stocks until after the meeting Of the
stockholders OF this road on the 21st OF
this month. In city securities there was
ssale Friday of $4,000, currency, at 65c,
maturing in 1874 The currency bonds,
long date, are quoted at 59Hc upon the
street, and 6o%c by 6eslers. Ths gold
issue Is quoted at $50 County warrants
are strong ct 92994c buying sud selling.
Tennessee money is bought sc S5GS6c for
the old, and $50 tor the e issue, and Is
sold respectively st S6&S7c. We notice q
sale OF stock, ths amount we did not
learn, OF the Wood and Willow Ware
company, s. Loo; however, il was fOrc5d
SAFE 81 law,
The distinguishing feature was the
sharp rise in the gold premium to ITO on
Monday last, the hignesJ point since the
downward movement In the early part OF
December. However, there was quite as
sharp q reaction. Tbsre is said 10 be a
large short mercantile interest, and the
-speculstOrs for q rise have seized this as
TIE most favorable time to fOrce up the
premium. There is really no scarcity Of
god a. there was last autumn, snd, al
though the operators for an advance msy
have power TO force up the premium still
higher, it will be only temporarily msiu-
tanned, for the government viii disOurse
fOrty-6ye millions in March if the called
bonds are presented for payment.
A question having been raised as to
whether the treasury department will,
under ths new resuiati0ns, pay express
charges on dsfscsd and mutilsted cur
ssncy forwarded 90 an assistant treasurer
for redemption, the treasurer OF the
United States hiss ruled that the depart
ment viii pay express charges only on
such currency As is forwarded direogly to
the treasurer under the governments con
tract With Adams express company.
Tns secretary of the treasury has direct
Cd the assistant treasurer st New York to
purchase 81, 100000 OF bonds on the first,
third and 6fth Thursdays OF February, or
s.. COCO, and TO sell 81 900, coo of gold on
the second and fourth Thursdays, or 81
900. 600 ia eli.