Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1876-03-04
FISANCE AND TRADE.

THE FINANCIAL position retains its
usual features. Money is easy with few
appliCa.i1rsior it. Exchange YVES rather
scsnty, but amply sufficient TO meet the
moderate demand for 1t. The rate on
4 New York coniinues firm az the T cent
alteration; buying a. Z discount, selling
al remium; New Orleans I discount,
selling a par. Gold was higher; 81
4 noon the New York quotation was Il4a
before that time 1t was up 10 ll4I; on
. the same y list year the closing quo
tetiOn "a is. 10 this connection we
c'uy tie following from the New York
Herald O. Wednesday: Fhe shipment to
F, Hsvsns today and tomorrow Is Q part
OF tn 81 OOJ 600 gold purchased on Fri
day las for spanish account. The bal
auce Il expected % follow by succeeding
steamers. In case Spanish doubIoons
Cannot be procured American gold coin
viii be shipped instead Tae city gen.
esal tax scrip u 1915 was "the object Of
inteTes among brokers yesterday.
About 100000 Of II is reported TO be In
existence, and views ~ 10 its market
s. buying and 80 selling Il
probably aoout the mark, and we
30 quote Il FOR the present. We found.
however, that one broker had given 50
FOR II, and expected 10 sell at IS. An.
other being OF opinion that it will take a
long time to absorb the $4,000, was Of
Ierlng s., aud expected il would sell at
30 The purchase at 80, however, gives
resson 10 expect this quotation IL too
low. All concur In the eXpt citation that
ultimately this 1875 scrip will approach
c.ose 20 par. The Nashville american,
OF Thursday, ssys money is abundant
there, with more than usual caution in
making loans. Exchange on New York
bought At ! discount to par, sold at 50
per thousand premium; comptroller's
warrants very 2 a.cs and in demand at
SO buying, 9799S selling. These war
rants are very stiff in Memphis at our
quotations. The Vicksburg Herald, Of
Wednesday, reports money easy, de-
posts largely in excess Of checking; the
bAnEs are eager Tor cotton paper. The
Herald thinks the ! per cent. charged
| by his Vicksburg bank for money SIS
decidedly too high; New York ex-
MUM; New Orleans discount, ling |
"Wednesday repOrts: "The commercial |
81 ualion reflects extreme ease in the |
money ma ket, with an abundant sup |
ply Offering, more, indeed, than can fiud |
use The prevailing rates have been 3 |
and per cent, with p and per cent |
as the sXtfemee. "Fhe same paper says: |
Cuisines integrity seems to be priced |
less and less IS the relations OF trade are |
extended. Ia this city M any Of the re- |
cent failures were in fact fraudulent |
bankruptcy, and the same thing seems |
TO apply to those Of London aud Liver |
pO1i." The New York Times remarks: |
Toe cloud which has hung over the |
stock market for weeks past seems to |
have no present intention Of clearing |
away, but on the contrary grows dsnsef
aud darker If the cloud have silver
lining operator. are unable to obtain
& impse Of it"
Buying. Selling. |
Memphis tax scrip. 7OG52 |
Memphis tax scrip, lS7j-....-. ....-.SSa- SO
Seunly warrants ----.0glZ 1870
ArKsns Is stale scrip -...........--..57g6S 7Og72
The COTrOS MARKET yesterday once
more & djenso holders by becoming
what, in cd days, was described as
"boOmIng The kilograms were glori-
GUS especially from Liverpool. as will
be seen by the reports below. In New
York sales Of futures amounted to AZ
800 bslss Our cotton men were gener-
ally Of opinion that cotton has now
touched bottom and that prices that
have been preva eLt this week will never
be seen again this season. Many buy
ers, a. well as sellers, adopt this view Of
the case, but we found some dOubters,
who were less confident, placing their
doubts on the grOuDd Of indications they
are sure they see that ext week receipts
wifi 20 beyond those Of this week. Nous
CerrOnS. Our own market was active
and firm throughout; ell grSdes Of cotton
were in demand. The speculative move
meni, and, indeed much OF the other,
was principally Oh the low grades; so
much so, thst ordinary advanced &c,
making iE72c, but as high at Sc was OBJ
tanned in some. instances. A Liver
pool dispatch Of last night gives the fol-
loving from the Cotton BEOkers' CircU-
lar: The market has been depressed
throughout the week, and though to-
day Thursday the tone was slightly
stesdieT quotations CT every description
show q further decline American de-
s ,riptiOns continued to be'very freely
offered, and further decline has taken
place OF one eighth penny in medium
and 8 fsrthing in Ordinary qualities,
bu. good middliDgs and middiing fair
grades are unchanged. In Sea Island
cotton business has again been very
limited, but prices are unchanged. Bust
ness hiss been moderate in futures, and
quotations ere about one-eighth of
penny below those of last week" Ono.
tafoDs al the Memphis cotton exchange
were as follows: