Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-12-18
FINANCE AND TRADE.
Kidding Cotton 10 1-2c-Exchange 12
Discount 10 Par-GOId III I-2.
Transit and Prices-SmalI Sales Of Feed
Large Stocks OF Corn in Mad
rid Bend.
Ouietude among the BaHks-NO Specula-
ton in Stocks or BOnds-6ss COM
panies and Gas Prices.
Cotton Still AdTancing-2GO0 Bales
Sold-COttOn Shipping and Cot
ton Pressing.
OFFICE or THE DAILY APPEAL, D
TUESDAY, December l., 1872.


FINANCIAL
Not a new feature was to be discovered
in Madison street this morning. There
vyas the same want of money on the part
Of applicants, the same polite refusal to
al but those having undeniabie claims.
Exchange was in fair offering, between
banks Eastern was plenty. New Or
leans showed some irregularity but !
wss the established buying rate for
commercial bills; par selling on all
points. Brief as this record is it includes
an hat Madison had TO tell to-day, for
not a transaction in stocks, bonds,
scrips, mortgages Oranything else III the
security classification was 10 be heard of.
The resignation Of the President of the
GayOsO Gas Company was spoken of,
and il was regarded as the prelude TO
the absorption Of the new company by
the old one and the resumption Of rates
Of s. per 1O00 feet for gasligbt. 1t was
whispered that the only hitch remain
ing to the amalgamatiOn Of the two
companies is the question of how many
Of the new stock are to be reckoned as
equivalent to one OF the Old-and how
are certain guarantees given by the new
company to customers to be carried out.
Some voices loudly eXclaim that if the
citizens Of Memphis understood their
own interest they viii keep the oppOsi-
ton company in existence. The chance
to escape crushing gas bills is at this
moment IN the hands of the merchants,
storekeepers, and business men gener-
ally. in Memphis few days or weeks
and it viii be gone, and the yoke will
be all the heavier because an effort to
escape from il has failed.
,,v,nfl faTrrraTnVv bonds with mast
due coupons, skies, 53lG54; Memphis
gold bonds, skies, so; Memphis past
due-cOupOns, IS; Memphis and Charles
Ton railroad stock, 263; ditto LIST mort
cage bonds, IS; ditto ID mortgage, 70;
Neuphis ar ! Ohio railroad stock, 10;
dirto LIST mortgage bonds, IS; ditto I'd
u1Ortrq ge, so; Mississippi and Tennes-
see IA broad stock, Is; ditto LIST
mortgage bonds, IS; ditto % mort
rage bonds, 7OG7l; Mississippi Central
railroad stock, Is; ditto lst mortgage
bonds. 81: ditto ID mortgage bonds, 81;
Mississippi warrants, 70lGS2; Mississippi
favea bonds. 40; Arkansas levee bonds,
10: Shelby county new warrants, $50 90;
ditto reissue warrants, S2(GS6; ditto
coupons, S3GS5; Bank of Tennessee
money. old, 94G96; new, 33(G37; Ten
re5See Controllers warrants, 92,G95.
The following forcible and sensible re-
mark, from the Nashville Banner, we
strongly recommend TO attention: In
a State which has as much land to spare
and as little ready cash as Tennessee,
verhaps it would not be bad idea, dur
ING our next legislative session to over
haul and amend our mortgage laws. A
law that viii enable the lender to recover
biz cash when due, byproceeding on the
mortgagsd real estate, within thirty Of
sixty davs would, it seems to US, do more
toward encol7rS ging an influx Of foreign
caDital than Anything else. There is no
use saying capital ought to come-7,ak9
II come. Water wont run up hill. And
capital is just as stubborn in seeking its
level.n