Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1873-09-26
FOREIGN EXCHANGE

FOREIGN EXCHANGE
is now the greatest point Of danger, as
it involves not only our foreign trade
/ but every department of the domestic
trade, from the shipper of produce from
this port 10 the grower Of grain at the
west, or cotton at the south. The signs
/ OF encouragement aside from this are
that the banks are gaining in deposits,
and that their machinery for going
| through the crisis is working sati-fac-
/ tOrily. Foreign exchange. while NOM
| inal, has sold at 1059l054 for prime fol
/ sixty days, sterling exchange at 105!G
/ lO6 for cable transfers, and l02Gl0 l04 fOl
| commercial bills. Customs receipts,
two hundred and forty-five thousand
/ dollars.
GOLD.
There was fair degree of activity in
| gold, and the price fluctuated between
| lll5Gll1s, closing at 1ll8. The rates
/ paid for carrying to-day were 8, 5, and
/ Z per cent. and flat for borrowing. Clear
/ ings SIS, 900, 900 assets. The treasury
/ disbursed 800 900. There were no sales
of gold to-day. Further amounts OF
/ gold are reported to be on the way from
London here; in all, it is estimated that
/ S2,OO0,00O in gold have already been
shipped.
GOVERNMENT SECURITIES.
/ No transactions in governments. II
has been suggested that the
STOCK EXCHANGE
should be open for general business,
leaving settlement of contractors grow
ing out of Fridays and Saturdays
business, and sales under the rule and
allegiance. This, it is claimed, would
give investors a chance to buy stocks,
and would bring money into the street
The governing committee this afternoon
appointed subcommittee of seven to
arrange plan for clearing stocks. A
resolution was passed requesting brokers
to send in their statements as early rs
possible. A smaller amount of stock
business was done on Broad street than
yesterday, and even less in
terest was taken in dealings,
as parties doing business are
outside of the stock exchange circle
Not much dependence can be placed on
the quotations given. AT the close the
following quotations were made, and
the prices didn't vary much from these
during the day, though the market wss
iuOlcu llALl idlt DllsiDGSss new OK
Central and Hudson, bid SO, asked 80;
Harlem, l07 bid; Erie, 53t asked; Lake
Shore, 73 bid, "A asked; Wabash, 40 bid,
AZ asked; Northwestern, fl bid, 43
asked; Rock Island, 81 bid, Sc asked ;
Ohio and Mississippi, q bid, 2S asked !;
Union Pacific, 1SA bid, IS asked; Cincin-
natl, Cleveland and Indianapolis Cen
tral, 20 bid, q asked; Western Union
nia1 <
Mail, 294 bid, 30 asked; st. Paul, ~!
bid, 81 asked; st. Joe, q. Or
ders from the interior to purchase
stocks at the present low prices are
increasing, and the responsible firms
have traded among themselves to-day to
quite an extent. A number of western
rsilways show largely increased earn
ings for the past two weeks. AT ameet-
ing of the Erie stockholders to-day,
President Watson is said to have repu-
dated any intention Of the amalgams-
tion of the Erie and the Atlantic and
Great Western railroad, and denies the
intention Of guaranteeing bonds of the
latter read. II. Clews & Co., and Hawes
4 Macy received large deposits, which
were on the way at the time of the sus-
pension. The amounts have been cred
TO their orders.
THE FURRY IN LITTLE ROCK.
LITTLE Rock, September 25.-The
excitement over the city currency and
the reported failure Of the banks in
Memphis caused unusual excitement to-
day. Financial matters were the only
topic of conversation. Nearly all Of the
merchants refused to take city money
to-day, and throughout the day there
was heavy run on the banks by de-
positors. As yet they have met every
demand promptly, and claim that
they can weather the storm.
NASHVILLE ANTICIPATES EVENTS.
NASHVILLE, September 25.-The foi-
lowing placard was issued by the ma
tional banks this morning: ave sus-
pend payment of all checks over two
hundred dollars"