Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-03-19
FINANCIAL.

For the past week tbs locsl money mar
ket has bsan quiet snd characterized by
ease and sb2ndsnce. The demsnd for
loans has b5sn light, and outside of the
general demand theirs hiss been bat little
call for money. The cotton market has
been greatly depressed, and reached sgain
22Zc for miGdling, 4 of the lowest points
since the market fairly opened. During
the week exporters have mostly been in
the market On Saturday the corner was
turnsd, snd cotton advanced Le. EK-
change hiss bsen Masking pretty freely, and
up to Saturday rs-es we're unchanged;
rates now ere as stated below. Trade hiss
been very fine. Merchants from the couu-
try coma into the market prepared to mske
elEhsr cash payments or an equivalent,
throwing upon the market an increased
amount OF currency Money, in fsct, Is
just beginning to f1d its way back, hav-
ing been going out sinos last September
Prospects are still hs5sering for z heavy
spring trade in every branch Of business
Memphis hes got the inside track, sDd If
she Will only follow up her advantage she
past week has been ~unfsv0rsble for busi-
ness, being mostly cool, with . heavy rain
on Friday night and Saturday.
In exchange there was q light movement
comparatively. Rates for tbs past three
days have hucsusfed, snd to-day we hsve
reported on New York par buying aud
selling al Z premium. New Orleans bills
are taken a. = discount, and sold a. par
70 = premium,
There has bsen an ecttve demand for
gold throughout ths wssk, brokers pay
ing within q fraction of New York rates.
To-dsv- rates for b1ying are 10S%@109T;
New York, Il0x,
Ths local stocz snd security market has
bsen quiet. A considerable amount is
mnM o. @a-ln I-M =
sbnndanoe to Invest. We have little
doubt but thss In the course OF s few
weeks there viii be money seeking en-
ployment in this market. There has been
already some few transactions that are In
dicstiVe Of an improved market, Those
securities where there Is confidence and
but little dsDrsciasion, wiz 6nd q fair
market, Some others VII suffer, as par
ties are disposed TO depreciste their own
property BY rushing 3 Q1snsity on the
market. There was q sligns Improved feel
ing in some quarters IN Memphis and
Charleston stock, and q weakness in an
other; so, putting this and that together,
she market Wss SOOutt the same IS reported
s EtQrday, The stock Is quoted &C 35@38.
First mortgage bonds, S5&sSo. Mtssis-
sippi Central first bonds, 67983e; second
bonds, SO9Sie County warrants are
bought 81 $4,000, and sold at 92G93c.
Bank Of Tennessee money, old, Is bought
g. S5HGS8e and sold st $685.. The new
issue Is quoted at s0c City bonds are
quoted a. 55955ke for tbs currency, and
for the gold issue. Arkansas leyss
bonds are nominsllE 90.
A sub committee Of the senate comni5-
tee on commerce, have unanimously !
agreed to report in favor Of admI ting for I
eiEn built ships of over ons thousand tons /
to American register for foreign ooean
trade only; Of registering American ships.
without regard to siE3, which changed
their Gag during The war; Of allowing q |
drawback Of duties on materials used IN
ship building, whether raw materials, SEQ
lions, or other wlss; and Of admitting free |
of duty supplies for ships. They viii also |
propose, to the full committee, TO allow g /
bounty equal to the drawback where
American materials are used. It Is be-
lieved that the full COMMITTEES viii adopt
these propositions, In which event, Il i |
g Z pected, they will pass the senate.
The LONDON Times reports thst the EN-
Deror OF Germany, acting a. arbitrator, hiss
decided the question of the northwestern /
BOUNDARY line between the United States
and the British Possessions In favor Of the
States. This is One OF the ques-
lions negotiated under tbs Treaty Of
Washington, and involves the possession
Of the island of San Jaan in the Psciho, |
south Of Ysneouyer's Island.