Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-09-18
A Happy Rank-SpeculatiOn Sus.
pended--Sale of More Charles,
ton Railroad StOrk.
Cotton PrOspectS--The Manchester
Market DrOOping--EngliSh
Crop Estimates.
The Memphis Cotton Campaign of
1923 Opened--,Sales, 9OOBales
--Wamsatta in the Field.
OFFICE OF THE DAILY APPEAL
TUESDAY, September Il, 1872. I
rUNaNDa

Not a new feature to vary the scene in Mad
iSOn street to-day. The money Stringency 80
confines operations within necessary business
limits, thai q transaction outside OF il is a
rarity E~NchAnge remains a. last reported
some banks buy at u, others atAn Il discount,
and selling at 4 and 4 premium. That these
rates must change TO par and y premium be-
fore long is considered q settled thing. One
aOuse took $4,000 at = OF, and has more en-
IN the opinion Of some OF the banks was not
quite - tight to-day. the applications being
less numerous. but this might result from the
known inability OF making the attempt.
one bank received by mail this morDino
S3l,0O for collections: another knew nothing
practically Of the Stringency, but has money
on the right side OF its bOoks-a Grre Il ora
indeed. We heard OF only upc transaction I'M
securities, the purchase teT a person abroad OF
90 shares Of Charleston railroad stock az SOC.
The New Orleans ficaluyae Of the 18th saws:
.Oderimgsa al bank and on the StFvet were fair
Out not excessive, and transactions outside
We're within range Of our previous quotations.
Street rates were still ten per cent per annum
Tor strictly drst-class notes, with and without
couateralS a for Al, and ais for good but
not Al. Al mortgage paper found q ready
nAdrEet ar previous rates, but ~second-class
were difficult Of negotiation" The ST Louis
DeNsocrUt Of the 10Th reports: The money
market during the past week has been steady
and quiet. The call from country banks for
currency has not been quite as urgent as il
Wasthe previous week, and the local demand,
also was considerably reduced. sim. there
was sufficient inquiry 10 absorb ali the funds
The banks cared to loan, and the rate of dis
count was stir1y maintained at ten per cent.
EXchange has not hgctuated very much dur
ing the past week. The rate between banks
has been 1fty cents discount per $1,000 TO par,
ana one dollar premium over the counter.
me Nashville Banner reports Tennessee
OonGs In that market ., old and new; Tennes-
Sc past-due coupons, 81; Tennessee paSt-due
nonds, %; ComptrollaT's warrants, s.; Mem
phis n Charleston railroad stock, SO; Bank
OF Tennessee notes. old, 9ld93; Go. new, 3S645;
pSst notes, 35ai0. The Memphis market quotes
Memphis currency bonds, with paSt-due
coupons, skies, 55S57; Memphis gold bonds,
skies, %; Memphis past-due coupons, 66:
Memphis and Charleston railroad stock, %:
ditto LIST mortgage bonds, IS; ditto I'd mort
gage, Sli Memphis and Ohio railroad stock,
lS; ditto list mortgage bonds, IS; ditto
ID mortgage, 80; Mississippi and Ten
nessee railroad stock, Ess2O; ditto Lest mort
gage bonds, s.; ditto ID mortgage bonds, fla
2; Mississippi Central railroad stock. Is; dit
20 Isl mortgage bonds, q; ditto I'd mortgage
bonds, -; Mississippi warrants, 75aS5; Mis-
slsSlppi levee bonds, 50; Arkansas leVee bonds,
2fgE; shelby county new warrants Sdg2:
ditto Reissue warrants lass: ditto coupons.
Sass; Bank OF Tennessee money; old, 82Ggi:
new, 3SG40; Tennessee Comptroller's war
rants, eg92