Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1872-04-27
FINANCIAL AND COMMERCIAL.
MONEY.
PUBLIC LEDGER OIFior, I
MRuPHIa. TKHN Anril u 1910 I

| MEMPHIS. TENN. April II. lb72.J
The situation as regards money are about
the same as reported yesterday. The banks
have large surplus unemployed. and ARE
getting 1t East as fast possible. whore 4 u
cent. interest is realized, and no taxes
charged. But little is being done in the way
of. discounts. There are but few frst-class
applicants. and the probability of a stringent
market East for some time to come. makes
bank officers little close as to discounts on
anything but gilt edged A." paper. On that
the rate is 10 q cent. for short date and II n
cent. for over sixty day notes. There is but
limited street inquiry for money. and our
Madison street curbstone philosophers now-a-
days handle but little in the collateral line.
Indeed, SO dull has business become with
them that the head center" contemplates
an early European tour. and will visit the
Faderland during his journey. f
The counter demand for exchange is almost
equal to the receipts, and it is only in a mis-
cellaneeus way that some of the banks get
sufficient for that demand, and arc not ena-
bled to place any to their credit inf Wall
street. Some few cotton bills are being
taken. and in one instance to-day the seller
obtained better price than has yet been paid
for Eastern commercial bills this season. The
following accommodation transactions are
reported between banks, $4,000 at &c pre-
MUM. $4,000 at 50 rs premium. and in the
case above mentioned S25. 900 was taken from
a customer at the selling rate. New Orleans
bills are Ss@1sc of buying and par selling.
Railroad shares day in New York are
| hot d,tU nd aha Ink ID
there was some disposition TO sell. and n
heavy feeling prevailed resulting in marked
decline.
Gold is more steady in New York after a
decline Of 1sc from yesterdays prices. The
market settled down to 1l2sz. and remains
firm. There Is an improvement in the coun-
ter as well as shipping demand here. and $1,000
was purchased by dealer to-day on the lat
ter account at l121s. A small purchase of
silver was also made at 1O7.
We note marked increase in the demand
for Memphis and Charleston railroad stock.
and to corroborate the LEDGER's predictions.
those who but a few days since were the bears
are the buyers to-day at prices fully lie above
those paid or offered yesterday. 1t may sug-
gest itself to the minds of many that this
nice little bull game. and for the information
Of those deubting Thomases." we will state
that the inquiry for the stock to-day is from
capitalists, through brokers. and not few
bankers have made offers; 33c Is the general
offering price. and for 200 shares Ss1zc was
paid by dealer on New York telegraphie
order. Those who we're willing sellers at SOC
Sic think of buying again. In other stocks
there is little doing. City bonds. of the cur
rency issue. are quoted 1T SIC; gold issue. SIG
&c. Arkansas lsvee bonds. 2S1S@241Sc. The
amount of money necessary to pay the July
interest on the Mississippi levee bonds. re-
Gently put upon the market. is. We learn. de-
posted in one of our leading banks. County
warrants are 96c buying. s71zc selling. Bank
of Tennessee money, old. SS99Oc.