Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1873-10-01
Gold Ill l-2-Greenbacks at q
Premium Of , to 3 Per Cent.
Foreign Exchange
IO6 3-S to los.
The Improved Condition Of the
Foreign Exchange Expected
to Start the Export
Trade.
Important Letter from Secretary
RiehardsOn-He Declines the
Propositions Of the
Produce Board.
IN NEW YORK.


OPENING OF THE STOCK EXCHANGE.
NEW YORK, September 30.-WsIl and
Broad and New streets, in FROST OF the
several entrances to the stock exchange,
were crowded this morning as the hour
Of opening approached. When the
doors were thrown open shortly before
ten O'Clock, the members and spectators
rushed In, filing the floor Of the ex-
change and the visitors gallery. The
members closed around the presidents
desk cheering vociferously and waving
their hats. Promptly st ten o'clock
Z President Chapman raped the brokers
I 10 order, and at once all became silent
I He then spoke to them as follows: 1--WE
have met again after 4 very moment
Gus suspension for the purpose Of resum-
/ ing business. Your action iH interim
I was met with universal appreciation,
I and has been most satisfactory TO
l yourselves. Business would be carried
/ on under the rules adopted yesterday by
| the governing committee which he
I readl appointing q committee To settle
| the contracts Of defsulting parties. All
/ [ ask now is, that you help each other
/ 10 bear the burden that has fallen upon
Us, to SO conduct business as to enable
the exchange to carry on its work sue
/ cessfully."
A round of cheering followed the ad-
dress, and business was begun. Good
I feeling appears 70 exist, and the opening
price Of stocks shows returning conf
deDce. The following are the
OPENING QUOTATIONS.
Central, 80; Erie, 81; Lake Shore, II;
Northwestern, 432; Rock Island, 81 (; Pa
cific Mail, 35; St Paul, S54-preteTed,
2i3; Ohio, 294; Western Union, 6S4;
! Wabash, 70; Union Pacific, "a; Cinein-
natl, Columbus and Illinois Central, ~
Hannibal and st. Joe, 24.
II 80 a.m.-Uuder considerable press
ure to sell and realize on stocks, p.ices
have declined from those current at the
| opening from one to two per cent.
Z Bankers generally are unwilling to
I operate for customers on margins until
/ offers become more settled.
FAVORABLE INDICATIONS.
( New YORK, September 30.-The i'm
I preston prevails on the street and ex-
change thst all the leading houses will
/ pull through, in which event q better
I ceiling will be infused throughout finan-
I cisl circles. Smith & Seaver, reported
suspended on the nineteenth, announce
/ that they will pay sl demands in full
I and resume. The price OF money will
/ depend on the stock exchange settle
ments now going on. If these should
I be carried through successfully, there are
I many who look for cOmparativs easy
! working Of the market. There was q
Z decided Improvement in foreign ex-
I change, which was looked upon as a
/ favorable symptom OF returning con-
I iidenee. The leading bankers advanced
their rates to 1854 for sixty days sterling
and 1913 for sight, but actual business
was at reduction from these rates.
THE DAYS BUSINESS.
NEW YORK, September 30.-The day
I in Wall street passed in s more satisfac-
I tory manner than even the NEST san
guine dared 10 hope. The general mar
kets closed up quietly without ripple
/ Of excitement. At the stock exchange
q calm and conservative feeling eharac-
/ terized dealings throughout, and while
/ many sold stocks for cash to complete
/ settlements, 1t is but just to add that
/ there was spirit Of forbearanee between
/ the members, and also between money
lenders and brokers generally. The de-
livery hour finally came, and with it
/ the important announcement from the
I committee appointed TO settle differences
between members, that there was not
one single default. This announcement
Z was received with cheers.