Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1874-11-25
FINANCE AND TRADE.

FTEANCIAL AFFAIRS yesterday had
nothing new about them. The light.
ness of money, Of which we have spoken
Of late, was amelioratsd but not re-
moved. We have now in stock l,00C
bales Of cotton against 2, 900 the came
day year ago; at lie pound it takes
a large amount to carry this load o.
cotton. Notwithstanding, good paper il
not rejected, and loans are made to bank
customers at 70 per cent. per annun.
The banks have 50 far attended 10 the
wants OF borrowers that the street one
rstors are still left with little to do; then
rates are isle2 per cent. per month. Ex-
change came in as fair supply; rates as
before; buying on New YORK and other
eastern cities At discount: New Orleans,
selling on all points at par. Some
smaH lots OF county were coming into
brokers' hands at IS, with little demand
outside. A lot of 5000 Charleston rail-
way secono-mortgage bonds was OfIer-
ing az O.. Among the Offering on the
market were Memphis gas at 50,
Exposition stock az %, Planters insur-
@ace az IS. aud Phoenix insurance
~ 70 Gold was taken by the brokers at
LIul and llO8 City gold bonds are IN
uerslood 70 be irmer; lot was Offering
a week ago at IS, but il has been with
IraWn and is now held at $3.50. The
New York Times says that g, 000, goo in
currency was moved from that city on
nday for the west and south. II also
H..
ing little confidence, a. the bank rate
ls GOT advanced, aud Thursday and Fri
LAY have not reported any loss Of bull
lion at the bank o. England +" New
Orleans papers complain OF extreme in
activity. tin fac" says the RscdylDle,
there never has been assessor since the
war when there was 50 little demand for
accommodation az the banks, and these /
institutions are scarcely able to find en-
piOyment for their funds.m The St
Louis Times says their money market is
very active; there Is a steady drain of
currency, and the banks are Obliged TO
limit loans TO customers. "rhis sudden /
change in the market, from dull and 4
lethargic state 70 one OF unexpected &C.
uFlty, came quite unexpectedly on the /
banks, and has been due 70 the rush Of 1
nogS 70 this market, caused by the IN /
usually high prices which they now 4
Command The Chicago Times re- 4
p0r activity and an eXeee iingIy sstis- |
factory condition Of affairs, the outlook |
more promising than for some time past,
and cheerful feeling universally ex-
hi0iled.
IHE COTTON MARKET yesterday had
gUOd Inquiry for rive--bO tom co.,
- d
prices remained Sc before quot
ed. In New York cotton was
steady st the existing quotation, 14te;
New Orleans was steady snd unchanged 1
at l4-c; Liverpool quiet and steady at
the former ! ID, with sales OF 1900 bales.
The New York Bulletin, Of Saturday,
reported az Improvement IN spots; Liv-
erp1ol was no better, freights weIe
against shipments, aud receipts were
something above calculation. The Of
feriugs were small, holders showed no
anxiety to sell. The sales IN our mar
ket amounted to 2lJ0 bales at the fol-
lowing prices; Stained, 70 elsie; good
ordinary, l56l5le; low middliug, 13ItG
lose; middi g l4Sl4Ic; fancy, l5la
l5-c- safes 2lu0 bales, Of which eX
porters took loo bales. spinners 500
bales, and specU atrrs 500 bales Tue
tone o. the market WIS reported by the
cotton exchange as ''stesdv aud IN (
changed TIE cotton exchange al
nuzl meeting is approaching, and "WhO
Is 10 be the next president2n
Is a question that members are
discussing with interest. The high \
degree Of success which the Institution /
ha- enjoyed the lsst year; the attention
OF the officers OF the exchange TO their
various duties; the excellent manner il
which those duties have been ui5-
charged ald the popularity these off
GERS have enjoyed apPear N dispose
many towards voting these into Office
again. Very excellent parties However,
are spoken Of for an opposition ticket,
in any case. The forthcoming struggle
viii be an interesting one