Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-07-03
FINANUE AND TRADE,

AT THE BANKS UGlug the second OF
the month, there was some activity in
checking and depOziting, but In every
thing else the usual summer quietude
prevailed. There are symptoms, how
ever, that loans viii be wanted, and ac-
lively applied for, before the new month
ia at an cad. Exchange was dull as
usual, but the continued quiet does not
change rates from what they were when
cotton was active, and we quote, once
more, buying on New York at par, SELL
ing at premium; New Orleans dis
count, selling at ps-. Gold was again
above III, quoting a. ll7E; brokers here
offered 1851. The New York BUlis tin
says: There l. little doubt that ship
ments OF gold viii be renewed
this week on large scale,
and among the bankers it is
a common expectation that the price
will, during the next two months, ad-
vance 10 the neiEbboThOOd OF l20. We
have 70 prediction 10 record, regarding
il as 8 matter TO be determined 10y the
export Of securities; II this is large
enough TO make the exchange wanted,
shipments viii be small and the present
price will be found high; otherwise, an
advance is reasonably sure" The fol-
lowiU x from the st, Louis Bulletin, July
lst, is OF interest: "TheTe has probably
never been q more complicated condi.
ton Of trade ia st. Louis than exists at
present, or VIII, h has prevailed for some
line past. 1t has given our
most judicious merchants more
than ordinary thOUghtfulness and
anxiety in regard ~ the
future. The better class Of traders have
ali along taken the situation into delib-
crate consideration, regarding the out
look Tith jUstifable apprebeDstOns. Re-
Gently there has opened up g more hope
ful prospect, in view of the cheerful
crop reports, and the solution of the
business problem assumes me8sursbly
definite shape. Provisions have worn q
dismal look until the past few dsys, but
holders are now much more buOyant,
there being a lively movement st the
principal canteTs, together with 3
marked increase IN the southern in
curry, upon which we gre largely de-
pendent for active patronage. The
grssshCpper hiss ceased to be 50 much Of
a burden as formerly; ard we have an
item from Saline county, Kansas, which
says a Mr.. Henry, O; that locality, sold
LIHfi. cen lLs4AAth Et4GB VI Wi4EtAt IL tL4D
field for tgenty-seven thousand dollars
cash. This is one among many features
that 20 10 make Up the fistteriDg BUSH
ness surroundings, and what may ulti-
mately be expected il the fall trade"
Not thing was done speculativeIy, and
We quote Shelby county scrip at 72(973;
Tennessee STATE notes at s.; city fire and
police scrip al 1901; city school scrip
at II.
THE COTTON MARKET was quiet ana
uninteresting. There was little inquiry,
the small stock admits Of little display
OF samples, there was therefore little
dose. Prices were sustained equsl to
the previous day, but Liverpool was
once more lower, and Savannah and
Charleston followed in its wake. The
closing kilograms were as follows: New
York quiet at l5sc; ssies, 40 bales.
New Orleans quiet at 153c; sales, $50
bales; receipts, 40 bales. Liverpool
quiet at 1880; Orleans, 75d; sales,
5000 bales, Of which 600 bales were
American. Savannah, l44c; Mobile,
81 9.I6c; Charleston, l44c; Galveston,
I45c; Wilmington, II 3 l6c; Baltimore,
I5c; Norfolk, 14@c; Boston, l5lc; Au-
gUsta, l4ic. Gold at New York, three
0'clo <, II7I The following are the
official quotations Of the cotton ex-
change:
Ordinary ---.--...-.-.---.-.-. :