Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-06-27
FINANCE AND TRADE.

FINANCIAL NEWS wllinCt come when
the quietude OF everything would make
30 most welcome, any more than tie
moon VIII shine On dark nights when
it, beams are most to be desired. Other
cities are as deficient a. our own, for a
Perusal ol the money articles from the
ast,west, north and south only ends in
the assurance that Solomon-whose
name, by the bye, never W.. solomon,
Iii. SaOl0mah-im2gine the beau
t.ul Queen Of Sheba going to "see a
young nau by the name Of Solomon''-
that solomon was right when he said
,nst 81 is vanity. The New York Bull
ictlH remarks; "The scarcity Of gold
and The attendant high rates for use
there lot being gold enough left il the
country outside The treasury to continue
shipments f3r = month st the rate Of the
past three weeks bad the
effect Of lowering foreign eX,
change" Tie New York Times
sta.e-: "Tue scare consequent upon the
recent failures in London appears to he
over, and CoLsOis nave more than YecOv-
these troubles" The New York Herald
states: "The money crisis in England,
we are tolt, l. past, and the cause OF the
recent failures 10 attributed to over spec
U.arCu. American securities have not
suffered from the panic.p Exchange re-
mains at former quotations. Gold
quoted ll15Gll54 in New York; here
brokers gave llG!Gll63. Nothing was
doing in local securities. Shelby county
scrip quotes = p; city fire ard police,
75G77, the latter being paid for lot yes
teTuay. School notes, given to teachers
for Gums due them, and bearing ten per
cent. interest, were offered but not taken
in consequence Of uncertainty as to the
position they occupy among the city pa
per. The following resolutions, adopted
ry the school baaId at the session OF
Tuesday last, will clear up the uncer-
tai-ty:
ECsC rcd That the president and Sec
rotary If his board lie and they are
hereby instructed 10 issue to all teachers
and employees Of the board, notes Of GER
t!ficstes 81 Indebtedness, bearing ten
per cent. interest, for the balances due
10 them.
RcsJ'Ugd That the city tsx-collector
be sud lac is hereby requested TO receive
the above notes or certificates as cash in
payment Of any school taxes due the
city sen ole, and the first school funds
under the control of the board ere here
by pledged iOT tire payment Of any Of
ssid notes or certificates not taken up
by the city tax collector 10 payment of
city irdebtednes-.
The Nashville Union and American, of
Friday, reports: Tennessee bonds are
quoted at Il G473, with sales reported
AT these rates. Ii is not thought here
that the State officials viii raise money
10 pay tAe July interest. Our local Sc.
CUTiues continue dull. COmptrolleT's
warrants are in 10 demand by taX-pav-
eTs, and brokers' Will not pay over soc
Tor them. The new treasury notes are
bought and sold the same as the ordinary
warrants. The new issue Of Bank OF
Tennessee notes are bought by dealers
at 20c."
The COTTON MARKET was OF the usual
Saturdays qUietness yesterday. An ex-
porter, however, joined his offer to the
iuguiries of sniuuers, and Gales reached
higher than on the day before. Hold
els were firm aud rates were fully sus-
tanned. The closing kilograms were
as follows: New York quiet, lit
ne doing, l5.c; sales, 4222 bales. !
New Orleans quiet at l5ic; sales, 500 |
bales; receipts, 50 bales. Liverpool |
q,iet at lGd; Orleans. 73i; sales, |
1000 bails, OF which 400 bales were
American. Savannah, l43c; Mobile,
l43c; Charleston, l5c; Galveston |
l4lc; Wilmington, IA 3-l6c; Baltimore,
l5..; Norfolk, i 9-l6c; Boston, l52c; Au
Cu-ta. I4ic. Gold at New York, th3e 5
o'a'rcE, II7f. Tie following are the
official quotations Of the cotton ex-
change:
grlgras-- ............ ID