Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-04-20
FINANCE AND TRADE.
OFFICE oF rHK DAILY APPEAL, /
EnrnAx Anrfl 1N- M 1

AhAhAA
FINANCIAL rrr eel
Madison street had its usual dizziness this
morning. sOuly a little more so" IL was ouil
day for business. Front street was dIll, ana
the banks were equally so. Exchang y not
abundant, ank banks that have suInelent 10.
present wants are willing 10 take any amount
other banks may have 10 oner AZ = ~ y 81
SI,OJ0. Northern and eastern bills taken over
the COUNTER at pal, selling ~ y nnset-
tied. Gold is ~ tagne as usual slfpyy VS.
taken at uO3z one OF banks has autnoL1
" 10 give Gle for city gold bonds. " the Sfse
city SKIES long date, bonds OF winch We has
spoken before a. offered al 5Sct none hAs peSs
token. indeed we hear Of no anqutrie h5oet
fl: the asking is clearly above the marcy
ana d il urobably n favorable quotation. A
Droiecfed s9le OF Charleston stock at SSe came
10 nothing. the proposed purchase IhLllns v
b5e . oTotsTfon as can be given in the absence
of transactions. six first mortgage LsNsslp
ri and Tennessee railroad chahseu hSnus
~. and another lot at SO; SIX second mort
ssga bonds. and another number not known,
al 7pc. County warrants are IN earhest ae-
mand, but their value Is 50 near lhat eI suI-
rpncv. that hey can scarcely ne reEafueo ~
hsinS CnEfbe market. twenty sheres GayosO
60 COMPANY stock sold for soc. Including
sS.50 mentioned Yesterday SlaAW Arkansas
a New York Herald OF Tuesday reports
- The money market was stringent most Of
The dav. or would have been 80 in ordinary
times; but the prolonged high rates OF the
past month have 50 accustomed boUoWers 70
n~urious interest that feeling OF relief was
actually experienced to-day over the compar-
nuve eaSiness OF the market at Il-32 percent
The highest rate was lS21n addition to- per
cent. After two O'Clock there was a relaxation
70 per cent" The same papea states that the
news about the possible idiniculties
between France and Germany was indDcing
the German bankers in New YORK 70 BUY
heavily OF gold, and also reports; -Ihe south
ttcuIarly fer the Tennessees and the new
south Carolinas. the latter was moderately
active at the morning call, and sold AZ $500
The following were the closing plees;-AB
nessee, eX-cOupOn, 6ll4e0st2i DO new ols9ogA
Virginia eN-coupon, 09oos do-1 regNIsI 500
old 4sa4s, do, skies, consolidated Donos, 9ss49
5fL- do SKIES, deferred scrip, l6%gl5Ai GeOr-
eIs SKIES. G5d7s- do. seVenS, ogVi NORM ar
DINA, eX-coupon, @h495.; dos iunding, ls9,
mi. do do. IS6s, Ha24s do. new Atz9Si
do special tax. lf6I5; Missouri siqes, 5A9SJ
do. HANNIBAL and 81. Joseph, SSsl; Louisiana
skies, Sss62; do new, - DC, Leyee st4esi
eja64: do. do Fights, s0gsO; 40 90. elknt -1IotSs
-sEsA: do. P-enitentlary SeNenss wan oo.rAl-
road rlghts, 7OGS0; Alabama ives N9oz; DO.
eights, $685.; do. elghtsr MontgomoTy anu Luz
EJG18. do new, January amu July SFs9&s
DO do, August and October, &ZGSIi Arkan-
sas skies, funded, 5485I,
90 Past due tennessee coupons are bought al %
and sold al IS. There Is no demand TOT thein
except nom railroad companies MO GSe
them Tor paying interest the state. Old ISSUE
Bank OF Iennessee Is getting scarce, Alo 1sat-
ers are holding IL nrm 1t osg.sc. ComPtI0iers
warrants are bought ~ e91sse, hha sIes a.
other dues 10 the state the same as tennessee
Trade Matters
Tha New York Grocer OF the 18Th reports:
O. The decline in coffee, anticipated IN our last
review, has been more marked during the
past week, but as many holder are losing
heavily. il l. with the utmost reluctance that
they meet the views OF buyers. There nave
been sales Of several invoices Of Rios at q con-
cession. but the receipts are in excess OF the
sales. The removal Of duties seems 70 be tenn
p0rarily forgotten, and it's by many conslq-
cred doubtful II il is accomplished during this
session Of Congress. The demand Ter con-
umptio has been fair, u seems 10 be on
the increase. Our ady1ces nom due
districts, concerning the coming crops sun
continue favorable Throughout the Brazlls
very encouraging reports are IorWardeu- Inc
crop Of Java promises ~sae lnereess
over the lasl crop, providing that island Is not
visited during the season BY hurricanes.
Though some predict that extreme prices VIII
again rule we incline TO the opinion that the
backbone Of the advance Is broken and that
urices viii gradually approach toward the
level maintained through the greater part OF
me ssme authority states. while our ad-
vices from foreign cane-produeing countries
all indicate a Satisfactory condition OF the
growing crops and the prospect OF a reason
able increase in the production, nom Loulsl-
ana we have very unsatisfactory reports, Inc
cold weather OF the past winter has tits said
seriously injured the seed cane IN many Far-
fishes and in some sections the loss is estimated
as high as twenty-five per cent. As yet no
general estimate has been made OF the loss
over the entire sugargrowlng district, but
there is no doubt, IL Is said, that II Is large
enough 10 seriously diminish the next sea-
sons crop. The arrivalsof new crop continue
very light and with a good demand from re-
dners. the market has been nrm and steady
with prices fully maintained, but no advance
made. The rrade are buying very spar1ngIys
owing 10 want Of sufficient stock and assort-
ment- New Orleans is nrm for theb better quail
lie. al an advance, while the lower grades
are duU and neglected. The better grades Of
syrups are also selling wei, while medium
and low grades are not sought after. a
The New Orleans Cotton Exchange Is max
ing an effort 10 get at least one correspondent
from every cotton growing county, who VIII
furnish monthly reports OF the crops
The New YORK Shipping Lat says The best
English cotton authorities report the POSITION
ID Inc market stronger than IL was al the
opening Of the year. The consumption still
runs largely upOm the American staple not
withstanding It's comparative scarcity, and
they cOucade hat % substitute Surats Tor the
long staple il more easily said than done
smith. Edwards q Co. remark that spinners
nave not suffered seriously as yet, the strain
being almost solely on manufacturer; IL re
mains 10 be seen whether the producer OF
warn will have 10 divide the loss with the
makers Of cloth. SO long as the spinner can
work without serious loss there viii be no ma
and they incline 70 think that the point Is
still somewhat distant when splndles VIII De
uur on short time. The situation then seems
10 berhat with an insufficient supply OF cotlun
a dragging state Of trade has 70 be endured,
and me two forces about balance each other.
should any Improvement Occur1n Aanches
ter later IN. a rise in cotton VIII be inevitable
shOuld the depression last al me year anu ~
trade act cautiously, IL may be STAYED on, Dui
the position will be critical and consumer
VIII be kept anxious, q least thl the pros
poets Of the next AmAIcan crop assume a
definite shape.