Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-03-05

consequence OF q duh cotton market, and
holders deEsrotls Of holding, banks have
been called on until there is aslight strin-
gency, but nothing pressing. There has
bsen no change in discounts, and sccom-
modstions on first class paper was readily
procured. The money market in New
York and other leading Eastern markets
has ruled tight the past week, and money
has been reported in lighter supply than
the demand. This is accounted for from
the fact that up to the first of this month
currency has be, q sen East and South to
move the cotton, hog and grain crops,a and
hnsnciers express themselves to the effsct
that there will be q close money market
until about the first of April, when the
currency sent out will begin to find its
wsy back. There has been q weakness
also in the stock and bond market in the
East, and in some cases q decline. The
cotton market has been depressed, and up
to Friday night declined an HapZo per
day since last review. We hear 10 COM
plant on account of the 6rst Of the
month, as parties are generally ready to
meet or banks willing to extend. The dry
goods trade has somewhat improved, q
few orders for spring goods having ar
rived, while the boot and shoe trade has
been very fair, much better than at the
corresponding time lsst year. b weather
has not been favorable for All active BUSH
.01 ~ GAO 0AAG t. AAaAA 2 ~ W0N IA a.
express themselves satisfactorily. Mem
phis, though she makes but little effort to
extend her trade, has q large one,a and the
coming spring trade promises to be largely
In excess of any year In the history of our
rapidly growing city. Merchants in the
country rec0gniz5 that they can do as well,
and in many instances better, than in
other markets, and if Memphis can COM
mand the vast trade she now has without
seeking, outside of the city papers, what
might she not command were the mer-
chants to send out solicitors and make an
effort TO extend their trade. ONLY q few
days since drummer" from Nashville
sold to Brownsville over 5000 worth of
goods on sample. This trade belongs to
Memphis, and if looked after at the proper
time could always be had. A drum
mel" from Nashville remarked to us, q |
few days since, that he had been on the
"rOsd for five years, and had during that |
time mes but one drummer" from Mem
phis. We hope that merchants will cor
rect this, and not depend 50 much upon
their old order trade.
Exchange has not been msrkingso freely |
the past Few day.; however rates are
steady, Il discount buying and par selling; |
and e forten or twenty days. sight.
Offerings OF coin have been light during |
the week, dealers following the New York
purchasing silver at los and gold /
~ lUSL24iiO. IO"O9y En6 N5H 1oTR rate /
is HOS, and the purchasing rate here Ito.
There hiss been but very little doing in
local stocks and securities. All surplus
money is tied up in cotton. County
warrants, in small amounts, srs
bought by dealers at 90c, but
for q large amount $50 is, perhaps, the
best price that could be obtsined, while
the selling rates range from exc to CSC.
City securities are quoted at 55Kc for the
long date currency issue, January coupon
detached, and &c is the quotation for the
gold issue. Tennessee money is bought
Sac to $50 for the old, and 35o for the
new issue, and is sold respectively at 500
10 SIC and SIC. Holders of Memphis and
stock are firm at 40c. Arkan-
Sas bonds ara fSt-no market and no
quotation, The only transactions reported
Saturday being the ~purohsss Of two
coupons Of Memphis and Ohio railroad
irst mortgage bonds, 1866 and 1867, for
which, with the accrued interest, the full
value was paid.
A London correspondent writes that all
he American business and American en-
,erprlse which have their hesdq usrtes or
in thst city are at q complete
Itsnd still Prior to the beginning Of the
ate controversy in regard to the treaty of
Washington, American financial houses in
were doing 6 prosperous business,
but the pending difficulty has postponed
everything,