Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1874-11-06
FINANCE AND TRADE.

FINANCE AND TRADE.
FINANCIAL NEWS is an article not to
be found in the city just now, for each day's
business is an exact copy of the day before,
and even the advent OF a new month, and a
month in the very heart OF the business sea-
son. failed 70 break the uniformity There
was more checking and depositlng than on
the previous days, Of course, and that was all.
We occasionally meet with people who seem
10 think the pail Of quietude that hangs across
the commercial sky, shuts out the hustle and
movement that should be experienced at this
lime Of the year, from Memphis alone. They
are mistaken; everywhere there is complaint
OF commercial dizziness. The New York
Tribune Of Saturday says: an regard to the
general trade Of the city, we regret that the
truth COmpels rs 70 repeat the OLD story OF
continued duLness, accompanied ~ declin-
ing ugiCe-. How long this condition Of thing
lE 10 continue, we do not undertake TO sur
mise. The hopeful seem 20 think that the
scale must turn soon, as Il is undoubtedly
true that many articles Of merchandise
are now selling, when purchasers can
be loand, a less than ihe cost
needed as 20 inactivity N business Il might
be found in the TACT that q superabundance
OF cash capital, which in prosperous times
,rOuid ind emp oyment at fun rates Of inter-
est. now seeks Ii 81 TO three per cent. on call,
8 70 5 per cent. on secured ume-loans and TO
= per cent. for good commercial paper, and
rEis AT q season Of the year when, under ordi-
-5arv circumstances, the demand for money IS
most active The New York Herald remarks:
o. We are passing through perioo IN which
f7. people are undergoing a change in the
habits engendered BY the wssr.- EKTav6gance
il giving way 10 economy. fTlces are Geciln-
mo b+cause we demand less than before, and
1har- is an excess q supply. But practically
we are growing rlcuer, FOR while the volume
1f currency is unchanged we are leaving pc
hind the artificial and coming down 70 real
T-sIues- When. therefore, the capital now idle
once more huds use, II VIII De upon
a basis that WlI give addltlonI
siTv brings home TO ali kinds Of pro-
ggcers bv whatever name known, the
fact that they must, in spite OF the existence
Oh The last ten or Twelve years adal1t tnein-
LIE - TO a new order Of things not under the
con troll OF men. but under the Irresistible In
44U-ucas Of natural causes, we shall have a
como sion that viii change all present com
TrIsroisf calculations, and bring about reYl-
Sow 0f the plans and purposes on which busi-
mess has heretofore been cohouctea.' Inc
TaItfmore GHeeig6 remarks: business IN
s-s-zTr 5eDsrtment al trade still moves sloWly,
and the season Is now so lar advanced Ihat no
SUBSTANTIAL revival Of activity can reasonably
be expected until the spring trade sets IN;
There is however, the usual distribution OF
merchandise going on, ana the No4uue OF
business II perhaps as large as could De e1,
5.rtsd taxing into consideration the general
relaxation OF Industrial pursuits throughout
rue country, The plethora OF money, Wnlcn
j. the direct result OF the guinness OF t5aos,
continues, both here and al the olher primer
paI commercial points, and The indications
DOiut 70 q continuance OF the present low
rar-s Of interest for an indefinite period"
These extracts. and similar ones could be
copied indeftely, show Inat MelnplAls N bne
present quieUude of things, Is suffering only IN
common with the other cities OF the Union.
Z
York = discount, New Orleans =; selling on
an pOf lts at par, Gold taken al as, selling at
10.
CITY gold DC
tftv currency bonds, udIsputed..-.........4CCg-
shelby county scri f6i eellEg, "
CITY tainted Donds.-.---.s-------.- 81
cry zcTl '--.-..7@t 2 40
THE COTTON MARKET had fair de-
r8a.1d but the exporters were less active IN
fb.ff. operations, taking only AO bales. me
mark II was firm and prices showed some I'M
77r0VenlenJ. as is shown in the ornclal quota
lions below. Buyer com plained that me oI-
fzTiugs were generally poor, New YORK was
-lT-iaf al IN hanged quotations, l93sci New
f1-riea1s unchanged at l41 C and steady; LY-
erDosI steSdy and unchanged at ll-lod. rev
E5rl- futul'es closed barely steady. The
d+icisI guOta tons OF the cotton exchange
were as Follows: ,,,lz,,,>
tfrdl ..-...--. =
Good ordinary
Low Ssi|4
MIdllIug 941
GOO , IN I was firm: sales 40 bales, of
which exporters took go bales
At the cotton exchange, IN cOhse-
ON. lCe Of a desire expressed Dy DOM mer-
80 MS and bankers, that 4 settled ana regu-
fer-g, stem should be established governing
-Fa ~ awning up OF bills OF laning, the follow
ing re-s1lutlOn was adopted on wednesday
P--5i5gq, Thstiti is the sense Of the board OF
7I-,agr-rs of the Memphis cotton exchange
that all mls OF exchange against cotS3L
!. nay I'D %
~I71der and thar our banks are recommended
10 raouire an oils OF exchange, drawn against
cotton shipments, 10 be indorsed, "Bul OF lad
ing 20 order attached -, -, -
Receipts yesterday jag; 5,s 5Sls Seel
Receipts since last Fridsy..-.,I0954 l,746 l6,sol
Teceintg same time lssJweekl6y5o3 ll,ll4 1871
Receipts same time week De 80, 600 -. 40
S,ooo lO,a5
2rcpfpfs since sept. l-.-...-.looto 6zr035 90 q
stock on -Ao 80 15flS2 S9iy9
hlR@ 6s5 nor x: so16i So 1851 lis i
Rlver-noF'h' = sou'h' SSH 81 ,l85 sc
TIE GENERAL MARKET was uteles
erlIav. there was a good inquiry for ho
products, but the stores were seheIelly ~
p macon and bulk pork. Corn - very scarce
= rof Of $50 sacks Of Mississippi corn vas onef
a--and would have been taken readily, DO
11ers we're weavil in il, and sDc was ne Des
oder 81 would bring. Odts Wefe ole I5 y
tfio 1ut met with no takers; the demand
q. 49, iigbt Bran was not offering; some corn
1si, sold al 81. CoI,H.eat y nov w, ~ -, ,ss
naLLas -5ay here are small sales az - 2.
= - al srs ssk 8 20; the demand Is - ~ y
49, n, - ou1s are reporgeo ~ % ~ - =
I5.S,,,acs rens,U unchsngcos VIII NJ go
Lo.l-t,.e - r,otatOes are plenty AZ Yer.
80 5,--ces. ne New YORK gTooeI IePIl =
ssbe crop Of sweet ptaooes LIS segos = nj
- ~ he ne fars est ever KnowI 2 ~, ~
pGTlea ~ yS - ,-ss We " favorable for the
e--oygfl and a much larger area " a P, .I =
man ever before, owing 70 thS E E,sn a. A.,
-InUeraffve prices which were oA,esat 49, 49,
~ ~, ,-ty-ious years This year pisces nsy
7Iai lower with OFFERINGS IN Excess ~ - -.
Hents." Lime and Cement We quos o 81 ~, Il
lower. BqieT Is very ,t WesNA' Il to b
really high qualty MI o,-t 81
f5UnJ. Bdoon and ButE FVSS -
11orninal for the reason that sVOchs 49, y. - =.
are entirely exhausted tne i'5,t IL ;,
--s-7,, weather has retarded packing, bus 1ait
vaceipt are expected to-day. bO"lSs - -
3relys lChicag0) circular says OF Pr1NLSl l ~,
ssEeceipts OF hogs at this point nave DeeI 5 n ~
eTaI sofnefbiug in excess Of last year! anu ~
prettv generally satisfied All lnleIesu,Su9 ~ I
ihe producers have pursued ~ G 49,. N.
Motley. ana sent 70 market al tne 10 e. ~ -
Could Another evidence OF thls lace ~ :.
,.lcr average quality OF the h9k -, ~. 80
I'M, ing the past elghJ Htohdns. 10 dasr,
- has ruled high-now 100 per cent. gear
-t-- one year ago-and hogs nave DIOus
~d pr1-es steadily. The conclusion y " : II
fHa the supply OF hogs for inaI.s ~ - cent
man last ycar-prop iully ~ PEI SSi -
1 while Il is true that TINS Is a NeEg - ~
am, - Indications point strongly 70 the u
c0un = crOp mas already been drawn W,
that w. Nv, and should prices remain IN u
quite ,1 ~ ID OF 51z961ze per pound eIoss,
ne 5l- e71,.r, Use every body II lle cIoP - =
VIII IA sa~lT in January. IN point o. ia ~
f~ff Ii doubtful II ,'se clop - ~ ., 81 70 n
2,to, Is year ago. VNns ~
.srcItv and high price ~. h,sfo
1880 6as scarcely been a uIiee ~ tlls ll.s -,
1IeLS - -, oT,erafionH when the stocks o. =
% Pg5,Sr.f ven, drawn down 50 low ~ a. - y
pIo-r-, n far as Chicago is concerned. y
sea-. Is nractlcally bare OF old Stock.
ma nc Ci5einnati Milwaukee ana on
Dootss ne yrs-gi are in very much lhe SAL
pollitess =, 1rtfle al New YORK and otner -
COZ Iti'-t,1-ib1ring markets the supply Is ~
$3.50 s-,deed England aud the oohel. ~
alr--Tdy buyers, and IL MOu'S - - 49, ~
exnerience in this particnlht VI ass's tIi !,
ii 10 be duplicated, ana l1 ~ az I'D worl
- ,Serv liberal trade Win the GU WIZ
ioy .,,s,g,s are for round Ia, unless otlsefas
C.,o. -essed. aud for feed ana tfool.to t y
80 !, nor sndu purchases fstes "'' P'SF
1-ate. ely higher. -. q, ,otr,
ffsna .xD PEARs-Apples are 10 lalr
-, With a heavy supply a. e-S''
,o-d clancy" II >. -, eto "a
" st,,,A rFAT FLoUR-Per Dbl, Sio ~ 10,
% 80 = 80 sTuFFs-bagging Weah a. -
oST--c C for ~ io- 1Wlnsi - - 80
: 49, Ia ea61Sc for spncea 3 ,al,., ~ II
y. - 49, - i95s sfterns Of new. BsgglIl.S = .,
Yes Per 10 - .-roonfuR prices, Win q
- fsTrs,,5 lIarity ana toH one rs si-
iderable irreel onSlaLss - S71
BRAN None -. ,.i. '.-i,1, NJ, INN a
ale OF los SKIS q Hs-elA,-1f VIZ -
BEANs-Nery lie