Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-11-12

The financial market to-day has been Just
what the Boston fire, or rather the content
plated results Of the fire, made it. The loss
falling upon the insurance companies counts
by millions. Those millions are now employed
Is noatlng capital in trade, being lentto banks
anQ individual merchants. wa those mil
lions money is stringent-a terrible tension
tries every fibre Of commercial life. Without
them the strtngency must be intensified, the
eject Of the Boston fire must be felt
wherever m Is sustained, in the
We'll as In tbose of NeH Yor q
Our banks must, Therefore, feel the additional
strain, as well rs Others nearer or more remote
from The scene Of the catastrophe. When
Nhlcago was burned, we were In a condition
OF monetary ease now we are in the very OPP
posite condition; therefore the effects OF the
disaster are sure TO be unusually severe. In
our banks paper was subjected to additional
scrutiny, fayors We're denied, overwhelming
hnances more under immediate control, was
carried out. Exchange Wasf in % fusion while
some complained OF over supply, and sought
to unload, Others were ANNOYED al ftsscarcity.
Rates were maintained al the former figures
On New York and Eastern cities, without
sreee discount, with grace q discounts on
NeM orleans Z discount; on all points selling
az pari one establishment, however, under
look 70 supply AZ i discount. The rate Of gold
Nas nuctuattng, for in New York IL was dane
ing a hornpipe on an india-rubber floor. The
rate e noon paid by our brOkers was n2A. In
sew 1ork II was ll454, but last evening went
aoHn 70 1850 say kilograms lying before
Aa6 ANAakAaAAA Inv AAAAN
IN New York, On sunday, Of the news Of the
NEW YORK, November lO.-The news Of
me great connagration in Boston eaused the
most Intense excitement, greater even than
that caused by the intelligence OF the ChicrgO
nre. FROM an early hour this morning there
were crowds gathered at the principal hotels
aud leading newspaper Offices, eagerly look
ing for Intelligence. The Associated Press bull
various newspeper 6aiees. and were eagerly
scanned by the Interested crowd. Rv moon.
nnsn ~ Nas supposed that the loss by the
beslou ure was greater than that terrible cal
analiy IN Chicago, New York presented more
the aspect Of a business day than any recent
SABBATH known In commercial circles. Deep
interest and marked condemnation prevailed.
as II has been universally felt that the bust
ness Interests Of this city would suffer very
materially from the disaster to Boston. Wall
street men were intensely excited, and con-
gregated during the day and evening at the /
t1ith Avenue Hotel. The general impression
Wa that tomorrow would witness a panic in
stock matters. Settlements We're made to-day
on Pacific Mail at ten per cent. below the clos |
Ing price of saturday, and on Union Pacific
al six per cent. below Saturdays closing prices, /
saturdays rates"
AS specimens Of the effect Of the fire news
upon Wal street, We may hotice that at noon
Pacific Mail quoted at ol@s2, against 90H on
saturday New York Central 5000 against
80; Erie 40 against 500; Northwestern q
against 50; Rock Island los against lO9; Lake
shore oigol against %; Ohio and Mississippi i
q against 461s Union and Pacific S99S2 against
~ ~ L1AzA MEAG AAAA ~ AAAlN AN..E&- n
tors, but a 4 o'clock pm. dispatch says:
Nav YORK, November u@Only two fail
ures are officially reported 10 the Stock Ex-
change tO-day-S. V. White and Pilot, Perry
q Co. Gold has desclined to 1875. Stocks re
covered from ? to S per cent; market quiet"
The Secretary Of the Treasury has already
offered a shade Of relief TO the situation by
stopping the withdrawal OF the addition made
10 currency resources when the i've million OF
gold was thrown on the market a short time
ago, 50 we learn from the following dispatch
from New York:
oval street is quieter, and the panicky
feeling is dying out There has been but little
business transacted in the wool. hardware,
leather or dry goods trades. Assistant Secre-
tary Richardson, Of the Treasury Department,
is IN consultation with leading bankers and
regarding the situation. Secretary
Boutwell, has stopped the Withdrawal from
banks OF g~reenbacks deposited some time ago
10 relieve the market"
Memphis currency bonds with past-due
SKIES, GG54; Memphis gold bonds,
skies, %; Memphis past-due coupons, 65@65
81; ditto LIST morsgage bonds, IS; do. ID mort
gage, 50; Memphis and Ohio railroad stock,
~ ditto LIST mortgage bonds, IS; ditto ID mort
81; Mississippi and tennessee railroad
stock, 58A; ditto lst mortgage bonds, S4a5; ]
do. ID mortgage bonds, 70g1l; Mississippi Cen
railroad stock, Is; ditto LIST mortgage /
s. ditto ID mortgage bonds, 81; Missis-
stppi warrants,709S2 Mississippi levee bonds, /
"; Arkansas levee bonds, -; Shelby county l
new warrants. sOG92; ditto reissue warrants, 1
sSds0; ditto coupons, 8aa5C tank Of Tennes-
zee money, old, 93G95c; new, Tennessee /
JomptrOlers warrants, STq90 /