Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1874-11-24

took 500. spinners 400, aud spectators
800 bales The cotton exchange has
given Official notice that on Wednesday
evening the first annual meeting ottbe
members will take place. This will Re
sn important aud a pleasant occasion;
for never was there a greater success
than has been this years experience OF
the Memphis cotton exchange INC
New York Bulletin, OF November 2lthl
reports: ''6inee our last there has been
fair movement in spots, about evenly
divided between spinners ana exporters
but no general demand OF activity, an0
the feeling was pretty dull throughout
and the tone weak. The Difficulty OF
obtaining desirable freight room is sun
put forward by shippers as reason lor
refusing to handle stock IN any qdaHtl-
tv. bus aside from this there seems 70 De
less animation and strength 20 the Tor
eign demand than early ia the week,
and the foreign advioes fail 70 improve.
Supplies in store are shown to falr eX-
tent st about former rates on strict grad
log and without much pressure 70 reai-
iZe, but holders OF landing parcels were
more anxious, and offerings rom pier
were in excess of the call, with q suf-
ficient modification on the prices asked
20 warrant a reduction o. about &c per
pound on quotations. For future dellV-
erv there has not been much fresh de-
mand, but operators have made lalf
show Of business in managing contracts
already out and preventing any very
important change on values. Ihere mas
been nothing new in either the foreign
or domestic advices TO materially IN
frepea matters, and though the outlook
fpr the ptesent seems TO be against auy
advance, with = good many operators
confident that 3 considerable decline
can hardly be prevented should the conn.,
hiuation working TO force up values
withdraw; there is, on the other hand,
many who think the market really has
much latent strength, snd that ex-
pOrters would be taking of a fair
amount OF stock daily could they obtain
suitable freight accommodation, and
this would, il is claimed, at once be re-
fected on contracts by buoyant tone"
FINANCIAL AFFAIRS during the past
week showed but little change ron the
weeks preeeding-quietude was me
principal feature. There was one dn-
ference, however, money instead OF pc
ing q drug lying profitless IN the BANKS,
hiss been so largely Withdrawn Tor tne
purpose Of holding cotton that there eX-
lists at this moment some ughtness.
This stringsncy leads the centres to
heartily wish cotton men would part
with enough of the staple to leave on
hand only what they can carry with
their own means. The same cause thaI
has increased loans has depressed the
amounts Of deposits. In the street.
however, there appears to be no scantl-
hess Of mOneyt0 meet all acceptable pa
per Offering; the rate there Is J a,d,2 p ?
cent. per month, in the banks nom 10 to
u per anuum. While business IN our
own city is very quiet, in some
Others there appears to be Frightening,
and g more CHEEKY feeling Is expressed
in many quarters. The New York
Times, November 10th, says: Money
was easy on call loans at 33(G4 PEE cent.
throughout the day, with lenders IN
abundance, who thought themselves for
unate if they could obtain the tlgher
rate. The less Fl cure was the more COM
mon and the latest, but the dealings
we're large and the borrowers Of the best
character The New O~leans PjcGVtene
Ofthe came day reports: "The money
market is quiet and easy. At the banks
the demand for discounts is very small,
and there is plenty Of money seeking
| investment. Cotton factors, who are
1 generally the principal borrowers at this
time, not having advanced much 70
/ planters, are pretty well supplied with
| funds.n The 81. Louis press describe a
state Of things nearer TO our own; the
4 Democrat aid on Saturday: "The tone
OF the market yesterday was tOlerably
stringent, as the demand from custom
ers alone was sufficient TO absorb all the
surplus funds that the hank cared to put
out.u Exchange in our market was in
pretty free offering, yesterday the rstes
continuing as before quoted; buying on
New York at discount, on the eastern
cities the same, except that
where there are three days
grace required the rate is !. On New
Orleans : selling on all points at par.
There can scarcely be said to be mar
kst for scrip and bonds, as few are asked
for OF offered. City bonds and coupons
are rarely heard OF; We give the current
rates for them below. County scrip is
equally wanting Ia movement. IN
Wall street Tennessee bonds have been
higher, but nothing is done in them
here. Comptr0ller's State warrants are
occasionally met with; brokers give %
ass for them. AlcOru money is ia
strong request in Mississippi, and has
been sought for here, but very little
could be found; il will bring 50. Ten
Dessse new issue is in vogue at Nash
vile, but here it excites no attention.
Yesterday 10 shares Of Washington in
surauce company stock sold at ., and
| 10 shares at 253. In the course % the
Of
Phoenix insurance at 26, Memphis Ex-
position stock at %, and Memphis gas
company at 80.
CITY currency bonds, undispute d-.-.-.-.4l5 q Z.
CITY tainted" bonds, circular basls-------4z g =
| f7ifr SCR 10 -...........-i2; selling, 8