Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-06-07
FINANCE AND TRADE.
OFFICE OF THE DAILY APPEAL,
THURSDAY, June Q, 1871
FINANCIAL

OFFICE OF H DAILY APPEA
THURSDAY, June Q, lST2
FINANCIAL
ia man go into Madison street know,
ing nothing, and all he speaks 10 know
nothing either, he has exemplifed tn,
mathematical axiom that take nothing
from nothing and nothing remains,5
That remainder was what we carried
on-wlthoUt any expense for drayage-
from Madison street this morning. Elk.
change was abundant, one bank tool
$4,000 early, another had more offered
than it would accept. Currency was
easy, and the draw on deposits is les,
active. Gold was wanted for shipping
at ll3A $1,000 was taken at II3i. Moth.
ing transpired7 of any Opel atoms in bonds
or stocks. ARKANSAS levee bonds appeai
10 grow weaker as The lst OF July comes
on, The day when the interest is-Or is
MOTTO he paid. A lot on the market
yesterday was without takers and the
holder talked Of sending them on TO New
NOrk-we gave their quotation yesterday
from the Chronicle Of that city az pa
the estimated, or nominal value here a,
This time is 25. When the LIST OF July
comes 1--WE shall know what we shall
know if ali comes out well holders
will have good reason for self-congratu-
lation. -
Arkansas levee bonds, nominally 256
&c. County scrip, gS09Ss. Barbour Lewis.
certified, 5000. GayosO Gas COMPANY
stock, nominally 50. Memphis and
tennessee railroad LIST mortgage, 81; ID
mortgage, 13. Mississippi levee bonds,
40. Memphis city railroad, 463
sank Of Tennessee money, $685. for
odd issue; new issue, 30G35. Ten
nessee COmptrolleris warrants, 90. Lit
tie Rock railroad first mortgage bonds,
30. Memphis city gold bonds, ex-
coupon, 69G6l; cUrrency bonds, 81.
Memphis past due coupons, S. For new
Mississippi levee s per n bonds 40
offered, Mississippi new, 1872, warrants
u Second mortgage Memphis and
Ohio bonds Offered at 50.
The stockholders Of the Louisville and
Nashville railroad held a meeting re-
Gently in Louisville. Resolutions were
adopted 10 extend tie Lebanon branch
TO the state line. It was also resolved
that the President and Directors be
authorized TO execute the bonds Of this
company for $3.50, 600, or e5C9,GO O
sterling and 10 execute mortgage upon
the Memphis, GAINESVILLE and Louisville
railroad, provided, that so much Of the
proceeds Of these mortgage bonds as may
be necessary 70 complete the South and
North Alabama railroad shall be applied
70 tina Object since the last annual
meeting Of the directors, the cOnstruc-
@ CT the South and North Alabama
railroad has been continued, and il 3
expected 70 have il finished some time
IN the month Of September next, and
under the contract with Lhat company
for the construction Of tbs road the
Louisville and Nashville company will
receive and hold about $780, 600 Of
eight Isl per cent. gold mortgage bonds
Of said company, Endorsed and guaran-
Ueed by the State of Alabama. It was
resolved thai the Louisville and Nash
vile company indOrse the bonds Of the
south and North Alabama Railroad
company, and negotiate the same; and
that if the latter company should con-
clude to substitute other bonds Of lower
rate Of interest, the Louisville and Nash
vile company should accept the same.
The OwensbOrO kentucky Southern
Shield of May 81 saws Louisville wants
another outlet South beside the Louis
vile and Nashville railroad, and Evans-
vile and Jacksonville viii be called
upon TO subscribe a stock of 81, 200, 600 in
1T Al1E HAAEr lLELLlLLLH AlA NEW OI-
leans railroad. IL is 70 pass near Hard
insburg, to Join the Greensboro, RUSSELL
vile, EliZabethtown and Paducah
railroad at Owensboro or Stroud. The
direct route of the road from Louisville
70 Memphis seems to be by Stroud City,
but the superior agricultural and mineral
advantages Of Hancock, Davies, Hen
dersOn and Union counties must induce
Louisville to hesitate before she yields
up this rich country TO become forever
tributary to Cincinnati, Evansville, and
other foreign cities. In Jefferson county
precincts a vote has been ordered by the
County Court to decide whether the
people viii have the Louisville, Mem
ph1s and New Orleans railway built.
There Is scarcely a dissenting voice as TO
the necessity Of a competing railroad
line from Louisville in the direction in
dictated. The proposition Of the Louis
vile, Memphis and New Orleans Rail
way Company is the first and only
practical and feasible opportunity which
our people have had offered them to-
secure such a line. The OwensborO and
Russellvile, EhZabethtoWn and Padu-
cab, and Paducah and Memphis rail-
roads, are 10Y rapidly approaching
completion. The Louisville, Memphis
and New Orleans Railroad Company
propose 70 construct a line from this city /
via the mouth Of salt river, thence via
HardiHsburg and Hartford to a junction
with the OwensbOrO and Russellvine
and ElizabethtOwn and Padueah rail-
roads, about u hundred miles from
this city, thus giving Louisville in con-
nectiOn with those roads a competing
line 70 Nashville, Chattanooga, Attain
Ia, Charleston, Savannah, Montgomery,
Mobile, New Orleans, VicksbUrg, Mem
phis-in fact, to all points of importance
70 the South and Southwest The COM
pletiOn Of these lines will give the Balt-
more and Ohio, Chesapeake and Ohio
and Atlantic, Mississippi and Ohio rail-
roads their Southern and Southwestern
connections outside Of Louisville, whilst
the Memphis and Charleston and East
Tennessee and Virginia roads are
already under the control Of the man
ayers Of the Pennsylvania railroad.