Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-06-18
FINANCE AND TRADE.

FINANCIALLY there Is no news; our
banks deal in variety Of Indispensable
articles, but in the present dearth Of
business, none Of them deal out news.
The amount Of exchange moving is
mo ferate, and still at par buying and t
premium selling on New York. on New
Orleans discount buying, selling at
par. Gold was again higher; in New
York it quoted up to Il7i, but was gen.
orally at 1l7s; brokers here paid JIG.
County shows improvement, quoting Il
G72; city fire and police scrip IS; State
notes IS. The Nashville Union reports:
uComptroller's warrants are very dull,
1here is no demand by taxpayers.
Dealers pay 81 and hold at go" The
same paper has the following: themes
see bonds are quoted in New York at
493G,52, with sales Of those of the funded
series reported at 80. 1t has been an
uounced, we may say almost officially,
that the July interest will not be paid,
and that our comptroller has made
failure in his recent mission to New
York, and that he returns not as 'con-
uuering hero.' IL We mistake not this
official visit to the city Of New York
will prove as curious chapter as has
vet been written in the history
of Tennessee finances since the
restoration of the Conservative party to
supremacy in this State. A curious
public would like to hear from the comp
troiler as to the cause of his failure. We
suppose he had assurances that he would
have no difficulty in negotiating his loan
before leaving for New York. Was the
failure owing to the want Of confidence
in Tennessee's ability to pay her debts,
or did he lack the adToitness to defeat
the schemes of the bear ring from Ten
nessee? Here is 3 chance for another
legislative investigating committee"
The New York Bulletin, OF Monday, re-
ports: "The bank statement was favor
able, showing heavy loss in loans and
q large gain in legal-tenders. The banks
now hold in lawful money, in excess OF
the required % per cent, SIS, 536 52J,
which is 81 .407, $50 more than last
week" The Philadelphia Price Cur
rent SAVE OF the state of business:
There is 8 general disposition not only
on the part OF the merchants, but the
balance Of the community, 10 live pru-
IDENTIFY and make more profitable use
OF their means. Capital continues abun-
dant and cheap at all the business Gen.
tiers, as lust at the moment there is no
safe and profitable outlet for it.h
THE COTTON MARKET yesterday did
only 3 very slight business. There was
soma looking round to pick up cheap
lots, but holders, encouraged by sales in
Liverpool as high as 1900 bales, were
not as ready to give way as on the even
ing before, and sales were confined to
200 bales at the prices We reported the
previous evening, and with which the
official quotations were yesterday made
TO agree. The general feeling OF the
market is one OF disappointment at an
aspect Of things so different to what was
commonly looked forward to in March,
but which is maintained by the
favorable crop news, and by the
bankruptcies and railing confidence
among English business circles. The
tidings received by the telegraph yester-
day, that the Bank Of England has
suffered q decrease of specie Of E9l2, 900
nearly five million dollars-while the
United States has shipped six millions of
gold, are not calculated to improve the
aspect Of things. The closing kilograms
were as follows: New York dull, l5ic;
sales, 400 bales. New Orleans quiet at
I5c; sales, 1900 bales; receipts, All bales.
Liverpool stesdier at I'D; Orleans, IL
16d; sales, 1000 bales, Of which $500
bales were American. Savannah, l5c;
Mobile, l44c; Charleston, l5ci Calves
ton, l4tc; Wilmington, IA 3-l6ci Balti-
more, I5tc; Norfolk, l45c; Boston,
l53c. Gold st New York, three o'clock,
1l7s. The following are the official
quotations Of the cotton exchange: