Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1874-11-15
FINANCE AND TRADE.

FIN ANSE AND TRADE
FINANCIAL AFFAIRS present the same
q dull, heavy front that has so long char.
acterized them. There is more inquiry
for money than there was a week or two
ago; deposits look better than at the be
ginning of the week. Exchange wa:
Offering literally yesterday; at noon one
bank had received $50, coo. Rates OF ex'
change are still : buying on New Hors
and other eastern cities, Z for sight, New
Orleans, !; selling on all points at par
Gold Is rising-which means, in plain
English, thst ereenbacks are falling;
our brokers offer 109}9I093 for it. These
fluctuations derange commerce. Green
backs sre our medium OF exchange-OuI
measure Of value. Only imagine the
yardstick st the dTy-goods store being
thirty-fOur inches long to-day and thir-
ty-seven inches tO-morrOW-WhRtW would
the ladies say TO those fluctuations?
Men must be more patient than the la
dies. or more wanting in determination
TO have what is wrong hanished and
what is right installed as supreme, for
they see the measure Ofsll they buy and
sell changing lis dimensions weekly, or
daily, sometimes hourly, yet ''grin and
abi1e by it, making no effectual effort
10 relieve themselves of what is curse
and q cause of ruin to many worthy
business man. Stocks and bonds are
like the airl of whom it is sung, ION,
40, we never mention her, her name Is
never heard" There is some whisper
ing on the curbstones about city gold
Bonds There are ssid TO be some Tor
sale; it is further said that buyers can be
found for them. The "Heathen
Chinee" is "childlike and bland"
but we shall wait until we
see what he pulls out OF his
wide sleeves before we decide what It
all comes u. There il a little quiet ask
ing after Tennessee money, new issUei
we can hear Of meme being on the marx
ct Brokers will give S09S5 for it's
wide margin within which nothing
could be brought, for higher figures can
be had. The Judicial decision that Is
expected to put the new issue on an
equality with the old, is to be prOnounc-
cd next month, that is why the inquiry
has arisen. The Nashville Union, No
Vember 18th, says on the subject Of the
new issue money: "Thers Is consideIa-
ole inquiry for bank of Tennessee, new
Issue. and brokers are offered 35c. They
hold at 40c." The same paper also re-
ports: 'There is a very decided aud
gratifying improvement in Tennessee
bonds, they being quoted in New York
at "A for those carving $3.50 accrued in
rarest and 5TtG5S for those OF the regis
Tered and funded series, with sales re-
ported at 81. There is nothing done in
these bonds here, but we suppose thai il
the advance continues there will be
q demand for them" The New York
Herald Of Wednesday remarks in its
money article: "a thorough inquiry
eiicits the fact thst considerable
buying has been done by outsiders
IN anticipation Of brighter future, and
how well their judgment is established
may be inferred from the following ex-
tracts from s portion of the recent cor
Re yp0ndeGce Of prominent banker,
which We are permitted to use" The
extracts consist Of 8 statement from Gin
cinnsti that they have 3 better general
trade, increased confidence, more money
received in s0lall amounts at the banks;
and 8 confession that, after all, there is
some business doing. A Chicago state
ment says there is s. decided change for
the better in business, and more hope
ful feeling. a Philadelphia correspond
ent believes the turn Of the new year
will show great improvement. From
Cleveland, Ohio, il is announced that
trade seems to have received q new inn
uetus. The Herald says, in conclusion:
1.-The foregoing extracts, illustrating, as
hev do, q healthier and more hopeful
situation, likewise justify the prophecy
chat unless some uutOward event occurs
in financial ciTcies-and there is certain
" no Indication Of any mishsp-the in
coming yesr will witness our entry upon
q career OF prosperity that will cOmpen-
safe for much that we haV e lost although
our business may be done upon a lower
basis. Capital is even now beginning to
speak with a voice that carries no uncer-
lain sound - The Herald prOphesies so
many things that il stands IS much
chauce as a spiritual medium of know
ing what is true, and We bope it is right
now.
'EaE COTTON MARKET yesterday, con-
sider'Ug that il was Saturday,, usually
the duietest day OF the week, was
active, sales amounting fully to 1000
bales. There was inquiry fOI low grades,
OF which very little was to be found, and
also tor river bottoms which are sought
for with much eagerness. The market
was very firm and closed with conf
dent spill. New York kilograms were
again Of a cheering character, at noon
business was checked by cotton being
generally held higher, and the market
fbere closed firmer at l4sc; futures closed
firm. New Orleans was firm with a
GOOD deuaud at former figures, 14ic;
LIVERPOOL was firm, arrivals l-l6d
higher: midtling, 71l46d as before
Purchaser ia oCT market report the fol-
lowing prices: Inferior, 99l0e; oTdi-
nary. 15s; good ordinary, l3ic; low
middIing, I3saI33c; middling, lac, l49
lac, and for "go6d style" 14ic; good
middling, l4le. The cotton exchange
official quotations show some changes;
good ordinary is &c higher; the outside
price Of low middling becomes the only
price; other grades remain as before.
What change does take place, it will be
observed, il in the upward direction:
D o. = S4ty2