Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-08-26
FINANCE AND TRADE.
OFFICE OF THE DAILY APPEAL,
awuuna non ~ lS-Z
FINANCIAL

FINANCIAL.
Very quiet in Madison street, nothing
stirring to awaken attention. The usual
call for money, a cali often disappointed.
There is a little Of the usual grumbllng
about mot enough capital in Memphis
to do business WITH but some OF the
cold hands" think that an occasional
difficulty in obtaining money leads
many e "put their house in Order,N TO
a degree they would neglect to do I'M
less an occasional touch of stringency
reminded them to attend to that i'm
portant duty. Gold is pirOuetting in
New York, Ii23 was generally paid by
our brokers; Of whom bought $1,000
at I2tGI22. There was some discussion
on city cOupOns-that the Mayor is de-
termined not to receive them for taxes
appears to be certain. His position is
said TO be this-the coupons viii be re-
fused for taxes, those who offer them
will, it is said, call upon the law to force
the city TO accept a debt due by her in
payment of q debt due to her. This
course viii be resisted and delay will en-
sue; in the meantime, citizens viii not
buy city coupons to pay their taxes with
when those coupons will be refused at
the alternative of a law process. When
IAN AAIAA VI law - III GAA1ALIf 4 = "
lieved citizens viii prefer payment In
the meantime, We hear Of none Of the
coupons being on the market; a broker
who was offering CSC had none presented
for sale. Not q word could be gathered
Of any movement in any other kind OF
securities. Exchange remains scarce,
one bank received $4,000 commercial
exchange at par. Chicago papers say
that there: eastern exchange con-
tinues dull and weak; quOtable at 75cG
- discount between banks. Currency is
arriving freely at the East, and bankers
manage TO keep themselves in a COM
Portable position. Counter rates easier,
at par selling and One-eigth discount
buying.r ''In Cincinnati and Louis
vile also exchange is plenty and low,
and by shipping currency TO Western
banks some of our institutions are OBJ
tanning exchange. Chicago appears to
be recovering from her smash in the
corner. The ocean says: Among deal
ers in grain, confidence has in a great
measure been restored, and business is
working back into the old channels.
Bankers are cautious i'm their move
ments, and, so far, we are unable to as
certain of a single loss among them
during the recent panics.n
Memphis currency bonds, skies, D, I
Memphis gold bonds, skies, so; Mem
phis past-due coupons, IS; Memphis and
Charleston railroad stock, "a; ditto 1st
mortgage bonds, IS; ditto ID mortgage,
50: Memphis and Ohio railroad stock,
I9; ditto 1st mortgage bonds, 92!; ditto
second mortgage, 50; Mississippi and
Tennessee railroad stock, %; ditto LIST
mortgage bonds, So; ditto I'd mortgage
bonds, 7OT72; Mississippi Central rail-
road stock, l2Gl3; ditto 1st mortgage
bonds, 81; ditto ID mortgage, 81; Mis-
sissippi warrants, $3.50; Mississippi
Tevee bonds, 50; Arkansas levee bonds,
-; Shelby county new warrants, SS@
81: ditto reissue warrants, at 81;
ditto coupons, IS; Bank of Tennessee
money, old, goo 90; new, 1905; Ten
nessee COmptrOller's warrants, $3.50.
The Nashville Banner reports: "Ten-
nessee bonds were quoted at a for old,
20 for new. Exchange remains IN
changed, the supply being equal to the
demand: banks take it at par and sell at
Is premium. No change in Bank Of
Tennessee notes, old issue 9lG92 buying
and selling Fl SO. Comptroller's war
are quoted at S7G9l. New issue
Bank Of Tennessee is quiet at from 81 to
40.