Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-10-29
FINANCE AND TRADE.

THE FINANCIAL Position remains
unaffected by the earthquake shock Of
Wodu,- lay evening, ard the great
want IL Cuuc1cy 10 meet the large sup
ply Of cxlhauga. Rates are discount
on New York, on New o. leans, selling
OIL b.th a. psr. A better deposit and
more money on hand makes our m,,nev
people look more satisfied. me New
York Hsrald stiil breaches caution, rs
the bssis Of al business Fl this time. II
says: AS in former weeks, the princi-
pa puslIess IN dry goods hes been trans
ac.eI lAio ga ne fJrcei sale-that, too,
OF me mos staple sItic'es-snd by 8
.on-i9efF ole reduction In prices, thus
lI4ull & = SORT o; speculative move
LlS' g. or by overDuying en- the part OF
e few who are able. This, however,
~ turn reacts to the detriment Of the
Eeuerai trade To such an extent have
these forced sales been made this season
that now, As We are informed, there is
Bo3rce.y an article 4 staple goods which
ls not selling below tue actual cost OF
production. Such q state Of affairs, Is
EeCislly in view Of the greatly decreased
production and imp0TtatiODs OF the sea-
son, does not indicate that natural and
healthy demand for which We had
hoped The grain, produce and general
merchandise markets, aside from spec
ulatiye influences, have also been
tame, with tendency toward
lower. prices. In word, disguise il
IS We may, business, If not stsgnant, is
slow and unsssisfsctOTy.n The NicBs
burg Herald, Of Tues day, says: ave
need more banking capital. The rate
D' intsTcS. charged by cur banks il too
higE, but even az this rate the hanks do
not ike 10 u ssOuLt the very beet COM
Inerglsl ps!c- st this season OF the year,
when the cotton crop is moving, and
wien they have use for very nearly all
OF their svsilable capital in handling
exchange which yields much more
handsome pTOiitn Gold opened in
New York yesterday at ll6i, but by
noon had fallen 20 ll6s; broKers here
were ofieriur ll5i@ 1851. The New
York Bulletin, OF Tuesday, reports:
"GOld advanced to ll5} and so closed,
the disbursements Of the November in
Iersst, which beE&E free Of rebate this
morning, amounting for the day TO only
S65S, 900. At this rate the gold tc come
j
WI not be sufllcie 10 place the gold
market beyond the control Of specUia-
yUrs. Merchants, therefore, have to facs
the dangers Of gold squeezs until relief
cir er comes from san Francisco or
London" Local securities stagnant az
o. neral thing, but there is more i'll
Dry for city, county snd State tax.
paying scrip; but fire and police is not
IN demand
Al-u puis police aI' fire, buy ..........S4as5
4tlAL4N taA scr }, bus 164
tpaA-+ "aLI'-It-r DuElu
ettis wax ants, Duyln lgi
view - de tennessee, ~
I5E COTTON MARKET yesterday was
sCt.ve, bat not buoysnt. In feet II was
the gpnpsite Of that encouraging term.
The official statement calls II "irregU-
lsE' The fac was that some Of the
holders got INTO q scare" 10 use the
words rs We heard them, and middliUg-
,ull sJy ls-Was LEI 20 at as low as l2sc
The present Is certainly q splendid time
70 buy GOO cottOns, and those VINO lose
the chance VIII TegT5t it. The tesson
has been so fire that only the very best
descriptions Of c-t'On are Iesching the
maTEeG-tIeiT pienly makes them rela-
lively low. 1he iTTegularity Of the New
York market and tue Guilue o! Liver
pO'i caused orr market 10 close heavy,
with many holders anxious to sell. The
official closing quotations of the Mem
phls cotton exchange were as follows: