Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-06-11
PADUCAH AND MEMPHIS.
FINANCE AND TRADE.

MONETARY MATTERS mad no feature
but dizziness yesterday; everything re-
manned in an unchanged condition. In
the east and west money continues to
accumulate in the banks, but if the pres
ent promise OF the crops should be full
filled there will be material on hand to
draw money into circulation that now
lies idle in bank vaults. The st. Louis
Trade Journal says business there is
light, funds accumulate and the banks
are in trouble to discover how to dispose
OF surplus funds. "The fact is, money
is go plenty as TO go begging but for the
firmly adhered to conservatism of
banks. Ten per cent. is rarely quoted,
and good double name, or otherwise
well secured paper, is quickly taken by
banks at seven per cent. A singular
feature at present is the almost entire
absence Of any demand on the street. -
The Chicago Tribune, Of Tuesday, says:
Merchants are calling upon their
banks for accommodation, but the move
ment is largely due to the fact that they
have been disappointed in their cal
culstions about the spring trade.
The amount Of money made in the
jobbing business Of this city, however
well it may compare with more effete
trade cehteTs, has not been large. Mer-
chants find their collections slow in
many districts, and although business
is conducted on all sides with every pur-
pose to retTench and contract opera
tions, the assistance Of the banks In
many cases is indispensable. Manufsc-
turers are also less active than last year"
Exchange excites but comparatively lit
tie attention just now; rates remaia at
par on New York, selling at ! premium;
on New Orleans sGt discount, selling at
par. Gold was lower; quoted all morn
ing IN New York at ll6s; brokers here
offered ll5I61l53. County scrip be-
comes stronger at 40, and round lot
would bring y. There is no change in
State notes, and we again quote So; a
question under discussion on heather
Chinee corner is-why are the State
notes bringing less than the regular
cOmptroller's warrants! The New York
Chronicle, OF Saturday, had the follow
ing quotations: "Memphis old bonds,
6s, As bid, so asked; Memphis new
bonds, Is, 40(G43; Memphis indorsing
S.; Memphis and Charleston railroad,
first mortgage, rs, 7S(9S2; ditto, second,
IS, 67(G70; ditto stock, 769. Memphis
and Little Rock railroad, first mortgage,
IS. Mississippi and Tennessee, first
mortgage, rs, ditto, consolidated So, go.
Memphis city coupons, 5O96O.
The COTTON MARKET yesterday was
dry and spathetic; there was some in
duiry, but most Of the cotton taken had
been examined before. Prices st the
principal ports remained as before, eX-
cept that New Orleans declined &c; the
smaller markets followed the late de-
clines in several instances; Savannah
was &c lower; Charleston, &c lower; Gal
weston, &c lower; Norfolk, Lice lower.
In our market the official quotations OF
the two previous days were retained,
the feeling was easier, but the small
stocks remaining allow less choice Of
lots than formerly. 1t will be noticed
that the stock is now only IL ,665 bales;
on the same day last year we had o.
$50 bales of cotton on hand. Among
the cotton sold was ordinary at l24c;
good ordinary, at l349l34c; mid
ding, selected, 15c; good mid
ding l5tc; middling fair l52c. The
closing kilograms were as follows: New
York dull and irregular at l54c; sales,
1878 bales. New Orleans fair demand,
at Isle; sales, 1850 bales; receipts, 2O7
bales. Liverpool steady at ll-l6d;
Orleans, I'D; sales, 10000 bales, of
which 1900 bales were American. Ssvan-
nah, l5sc; Mobile, l44c; Charleston,
Isle; Galveston, l44c; Wilmington,
I4lc; Baltimore, 15sc; Norfolk, l5ic;
Boston. 15gc; Augusta, l44c. Gold at
New York, three o'clock, ll6g. The
following are the official quotations Of
the cotton exchange: