Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-07-28
MONEY MARKETS..
BY,TELEGEAPH

FRANKFORT, July 27.-U. S. 5-20s
Of 1862, 9Si.
LONDON, July 27.-The amount of
bullion gone into the Bank of England
on balance to-day is e5l 900. COnsOls for
for money aud account, "a 9-l6; 5-20s Of
1865, l07f; do. 1867, I0S4; 10 40s, 1853;
new fives, 1885, New York Central, 80 !;
Erie, -; Erie preferred, q.
NEW YORK, July Z7.-The money
market is active, lOaninR at ) per cent,
and closing az 364 per cent. Prime
mercantile paper, 3!GG5 per cent. Gus
duce, S579, 300 The assistant treasurer
coo. The failure Of Duncan, Sherman
gold room, where the price advanced
rapidly from 1923 TO 1l6B, and suisse
quently declined to 1l3}. Still later
there was rally to ll43, and q reaction
to ia. The last sales were at ll4s.
Borrowing rates were l-64, 6, 8, 2, and
l-l6 per cent. The gold room presented
an animated appearance, and such
scenes as occurred have not been wit
messed since the panic of 1873. The
rapid rise to 1859 was caused partly by
8 rush to cover on the part of the shorts,
and after many OF the bears had covered
their contracts the price naturally re-
acted. Among the foreign bankers the
failure was the sole topic of discussion,
and there was very little business in
foreign exchange. Government bonds
were firm; coupons Of 1881, l2l; 1862,
1l53; 1854, III; 1865, ll93; new, 1l95;
1857, 1909; 1858, 1909; new fves, ll6B;
10-40s, regular, 1l65; l040s, coupons,
l17t; currency IS, 122f. State securities
quiet, except Tennessees, which are
better; Tennessee IS, old, so; TenDessees,
new, 494; Virginia 6s, old, So; Virginia
IS, new, 81; Missouri 6s, l0lB. Rail-
road bonds steady. The stock exchange
share market was thrown into great
confusion for q time, and heavy de.
cline In prices took pace, and ssbse-
quently there was g sharp and decided
recovery, when it was known that be-
yond Panama, Duncan, Sherman 81 Co,
were not long OF securities that had d
general market here. The greatest de-
cline was in Panama, which dropped
from l3I to 122, and aiteTWard rose to
1874 bid. Western Union declined from
S22 to 20, and sfterward recovered to
7S5; Lake Shore declined from GIG to
So, aud later rose to 500; Northwestern
declined from Az TO 364, and later re-
covered TO 39B; non Pacific dropped
from TAI to IS, AZ recovered to 70; st.
Paul fell from 36i to "a, and rallied to
35t; Rock Island declined from 1851 to
1854, and afterwardisold up to los; Pa
ciflc Mail declined from SO to "a, and
afterward recovered to 3S4; New York
Central declined from 1H to 102, and
afterward sold up to l03. The decline
in the balance of the list was from 192
per cent, with partial recovery. The
day closed with a calm feeling in finan-
cial circles, and marked recovery from
the depression which followed the sus-
pension OF Duncan, Sherman q Co.
This was particularly the case in the
stock exchange, which suffered early in
the day by a false rumor that COM
modore Vanderbilt was i'll st
increase in the vuIume OF bust
ness, with good buyers at the decline.
Western Union made the greatest re-
ing business at 7959794. The two eX.
Union Pacific recovered from IS to 70,
closing at 72(9724. The opening priS
of this stock was 745. Pacific Mail, at
ter declining from 80 to 81, rallied to 364,
and closed at 37R Northwestern de-
clined from 4l5 to 36f, and recovered to
40, with the last sales at 393; preferred
dropped from 554 to 52I, and closed at
525, st. Paul fell from 363 TO "a, and
AfteTward advanced to 354, closing at
35s; the preferred declined from $50 to
IS, and recovered to So. Rock Island
sold down from 105i to 1881, rallied to
los and closed at lO4. New York Cen
trail receded from l04 to I02, and then
rallied to 103 Panama declined from
l3l to l22, aud closed at l249l25. Mis-
souri, Pacific receded from 504 TO As! and
OhiOs from 234 to 225. Other changes
were less important. At the final close
the market closed active and firm. The
in the stock exchange were
267, 900 shares, of which Al 600 were
Pacific Mail, 81, 600 Western Union,
Is, 900 Northwestern, 5000 Rock Island,
Is, 600 st. Paul, 5000 Erie, so eco Lake
Shore, 1000 New York Central, 5000
Ohios, and $500 Union Pacific. Clos
ing quotations were: Western Union
Telegraph, 79t; Pacific Mail, 374 Adams
express company, 100; Wells q FargO's
express company, 81; American ex-
press company, 55; United States ex-
press company, Al; New York Cen.
trail, 1929; Erie. IA; Erie preferred,
20; Harlem, 1873; Harlem preferred,
1872; Michigan Central, Sat; Union Pa
cific stock, 20; Lake Shore, IS; Illinois
Central, 81; Cleveland and Pitts6urg,
81; Northwestern, 39s; Northwestern
preferred, 523; Chicago, Columbus and
Indiana Central, A; New Jersey Cen
trial, 1O9; Rock Island, 1893; st. Paul,
35; st. Paul preferred, $50; Wabash,
st; Wabash preferred, "a; Fort Wayne,
973; Terre Haute, 4; TerTe Haute pre-
ferred, Is; Chicago and Alton, 4; Chi
csgo and Alton preferred, 8; Ohio and
Mississippi, 22i; Indiana Central, AZ;
Chicago, Burlington and Quincy, 143;
Hannibal and st. Joseph, 244; Delaware
and LsckswanHa, l9; Atlantic and Pa
cific Telegraph, l9i; Central Pacific
bonds, 1909; Union Pacific bonds, 1003.