Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-10-19
FINANCE AND TRADE.
Middling Gotten is I-2 to IS Sick
change SIS Discount to Par
Sold lie.
Cora Scarce and Higher-CornmeaI Ad.
EaRclng-St. Louis F~reights-
Grocery Articles-Mem-
phis Exposition.
Decrease Of Money Pressure-COllectiOR
SatlsfactOry-RumOred Import
ant Sale Of County Bonds.
OFFICE OF THE DAILY APPEAL,
FRIDAY, October Is, lS72. 4


In the absence % money with which to "buI
ana bear securities, affairs on Madison stree
continue o. be very monutonouS EXchangl
ls SUI Offering literally, ano rates remain
and discount buying. par selling. Tbs
direct pressure for money shows symptoms Of
abatement. but the applications for loans
ErLe tleie appeaN . pno3anliLly ol ne
HLng successful. are as persistent as ever Ihe
money nom cotton sold a. once goes forward
% bring fresh lots from the country, and the
expenses OF labor Tor picking are neaNy; Ties
things prevent accumulation. and leave as
weak in money. We learn from bankers that
collections are very satisfactory the failures
20 pay and the postponements being Few. This
fact indicates approaching Improvement,
Brokers paid l2 for gold But little was done
ia local securities; &ug0 city currency bonds,
~ex-coupou, sold 81 d, which indicates value
Of s. with the July coupons. For Charleston
railroad stock 81 IL asked; an offer OF 30 was
refused. county scrip Is receiving a. much
attention as scarce money VIII allow 10 be
given Co them. some lots OF regular issue are
said 90 have changed hands ats We hear &c
stated that a large amount Of new county war
rants have been disposed OF, 70 be delivered n
December. al about CD, but the exact figure Is
uncertain. We also heard OF s2lA9 Arkansas
leEa bonds onering az ~, and no 4ker.
Memphis currency bonds with past-due
coup0ns, skies, Slt54; Memphis gold BONDS
skies, o.; Memphis past-due coupons 8go,
SUBS ditto Isl mortgage bonds, -; do ID mort
gage, So; Memphis and Ohio railroad stock
Cd mortgage, 80: Mississippi and Ten
ua--ee railroad stock L59D; ditto LIST mort
gage ond ,A4Si do. "a mortgage bonds 20
q; Mississippi central mliroad stock, IS; dit
10 Ist mortrnEe bonds, 8; ditto ID mortgage
bonds. Sd; Mississippi warrants, 704s2; Ms
pi levee bonds 90; Arkansas levee bonds,
f-- Shelby county new warrants, aEa2.
ditto reissue warrants, 7aSS; ditto coupons.
sI5- Bank o. Tennessee money; Old E4ii
new, 9acs IeuRessee Comptroiiers war
The view Orleans Times OF wednesday re-
uorrss The sales of boo bales Of cotton IN
three days OF az the rate OF more than tWo
suG q half millions q dollars per week might
Dc naturally expected 20 impau sensible relief
20 Tire money market. This undoubtedly has
been done 70 some extent, but much less than
might h-esUpuo-e1. @ considerable part OF the
proceeds being AZ once sent into the country
FOR 1la purchase OF additional crops or the
Ulyuau NJ wages. WIN iAls acINe move
H.lr, however. an early reuuN OF currency
may bs confidently expected view that Is
already lmparlns q Stronger tone 70 ne
THe baltimore Gcasae. 18th. says Memphis
lKeS were offered there at So; Tennessees,
T-1fs HruH5Gcul, Eth: Applications for !
loans AND aForS are reported 60 be excessive, :
and ar not mined % any par{leular 9rancn
Uf business, The meicanl4e ana manulaclur-
mo Interests being bcth largely Represented as
B1-rJwerS. ThecDuutry having been literally
SUPPLIED AZ an early date, the demand for
Recommendation from that source has 10 some
.-ra1r fallen of. shipments OF currency still
forward 20 the INTERIOR nut aggregaung
mailer sums than was noted during the early I
davis q the month. As a rEle- currency I
r..aur- show an increase this week, and eL-
H.Hr-H On NeW YORK was sought l0r 20 I
-r.-rE-H Harlucas there that had been de- 4
uIa-aI early in the month. The business IN
.#.T-n on southern marketsls confined % bank
customers and does not reach amounts ofany
magnitude OF account Of en- inability 70 take
an such paper that would be offered
Cincinnati Price Eurrcff: There has been a j
further tightening OF the reins in our local
market and many OF the banks have
seen unable 20 supply the wants OF Their de-
u7eirors as fully as they would Ike 70 90. TX
- unusual 20 have 50 brisk a demand Tor
money So early iu the season. but u seems 70
Ba LeZEtmaralv for the uses OF trade, with
scarcely O. UnEa Of speculative character.
Considerable currency has been sent 70 the
.uuu-rg. bur the banks have not suffered
much EauV leuleuu1 In means"
Louisville Journal 10TH -Ihe banks are
neither disposed nor able 20 accommodate the
IarlguL from outside borrowers, and II ap-
pears 20 be the general experience that lt puts
hem 90 greater inconvenience than at anE re-
H#ur date 20 satisfy Luei- own customerH- The
ar-s % the latter keep somewhat IN advance
70 The increase in cash resources from cOllec-
ions and deposits, producing a difficulty with
in sdhering To the polcyof regulating
.r-.r discounts with reasonable regard 10
ras.Tu-S from maturing credits"
The necessity Of some amendments TO the
1r-l1uaI banking law VIII no doubt b. pressed
ru-u C1uErass al its next session The bank
a. interest az The North and the West, with
~ eElarrious, appears 70 favor a mOdlnca-
.u1 OF llelaW with regard 70 the reserve.