Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-12-27
| NANCE AND TRADE.
Kidding Cotton 10 1-2 to 10 3-4c--Ex-
change 1-2 Discount TO Par-G0Il
Ill.
Weather and NsVigatiOE-Sale Of Corn
at 81 1-2-QuOtatiOns Nominal.
Exchange Searce-PrIce Of Charleston
Railroad StOck-ClOsing OF the
Memphis Bank.
Cotton immOvable - Good Demand
Prices Stif-Sales 500 bales.
OFFICE OF THE DAILY APPEAL,
THURSDAY, December &c, 1872.
FINANCIAL

a
THURSDAY. December &c, lsl2
FINANCIAL.
Exchange is now ascarce commodity.
TIE river is blocked with ice, the rail-
roads sre blocked with freight where
they are not blocked with ice, and 10th
ing can be moved. This brings eX-
change to a stand, and as there IL no
getting any money not predicated OH the
movement Of cotton, an obstacle that is
whiting down transactions TO a fine
point. A little continuance of this
weather will compel the banks TO import
currency. The rates quote as before, for
10 raise them would not add TO the sup
ply Of cotton bills; New York and East
ern cities 4(9s discount, New Orleans l.
selling at par to all points. That money
already tight is now closer than ever, is
not necessary to state. For Gold, buy
ers were paying Ill and selling at 1I14
6ll13, according TO quantity. In stocks
OF bonds nothing was done or talked
about, except that there were some en-
quiries as TO the probable value Of
Charleston stock, about which there is
much curiosity; it seems to be the GER
eral opinion that this unfortunate stock
is destined to get worse before it gets
better, and that when the getting letter
time comes it viii probably get very
well indeed.
The Memphis Bank did not open its
doors this morning. For some time
past it has been engaged in winding up
Its affairs, and the business doing wasre-
duced to such narrow limits that the
balances due depOsitOrs viii not very
greatly exceed SO, GOO. But for the very
difficult position in which business has
been placed by the severity Of the sea
son stopping transit, the winding mp
might have been accomplished without
loss 20 any one; but as it is, the deITeci-
SIion Of sOcuTities-wOrth on then face
more ths1 the whole balance due the
bank, renders it impossible to tel pre-
cisely what the amount Of the loss viii
be. We have heard none nut it at less
than fifty cents on the dollar al the
worst, but we see with pleasure that
Major Murphy, in q card We publish in
another place, says il is his purpose TO
protect his depositors "from ultimate
loss" The long known integrity Of
Major Murphy secures to him the SYM
patty Of all, snd confidence in his high
Integrity of character is undiminished.
As a commercial event, the fact that the
Memphis Bank was winding w IFS az
fairs had brought its balances to too low
q figure for any commercial complica-
ton TO result from the failure.
Memphis currency bonds, with past
due coupons, skies, 5S654; Memphis
gold bonds, skies, go; Memphis past
due-coupOns, IS; Memphis and Charles
ton railroad stock, 25; ditto LIST mort
gage bonds, S.; ditto ID mortgage, IS;
Memphis ari Ohio railroad STOCK, 10;
ditto LIST mortgage bonds, 50; ditto ID
mortgage, so; Mississippi and Teanes-
see railroad stock, IS; ditto LIST
mortgage bonds, S.; ditto % mort
gage bonds, 7OG71; Mississippi Central
railroad stock, Is; ditto LIST mortgage
bonds, 81; ditto ID mortgage bonds, 50;
Mississippi warrants, 70tG82; Mississippi
levee bonds, 40; Arkansas levee bonds.
IS; Shelby county new warrants, $50 %;
ditto reissue warrants, S2GS6; ditto
coupons, S39S5; Bank of Tennessee
money, old, 94G96; new, 3S6S7; Ten
nessee Comptroller warrants, 92G95.