Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1876-02-29

THE FINANCIAL SITUATION offtrs no
essential not only as compared with last
week, hut with very many weeks be.
fore. Money is in plenty. 1t does Eot
pay FIR keeping, yet it is kept and not
| invested, and there is consequently still
q plethora on the market, for borrowers
are few aud their W nts small. There
are plenty of people that want money,
but those are the people that cannot get
| it When q man. is wealthy enough to
want nothing, there is not bank in
town that will not rejoice to take his
paper The bank discount rate is the
usual 10 per cent. The banks have com.
| plsined Of dullness all week; yesterday
their principal occupation was TO p ~ out
cheeks. Exchange is in reduced offer.
| ing, IS may be expected from the heavi-
ness of the cotton market The light
call for it prevents inconvenience, but
the banks would much like to have q
better supply, Our stock If cotton has
been below that at the same time last
year all the season until now; it was
yesterday SO OO0 bales, against 81 800 on
the last day Cf last February. This is a
circumstance that, If il continue to ex-
list, will show some effect on the local
monetary condition. Rates of exchange
are now discount on all directions for
sight I more where grace is demanded;
checking at the counter on east, north
and south at par. Cell has been higher
this week than for sometime, but it has
not continued steadily rising as some
expected, neither has it touched ll5.
The rate in Wall street at noon yesteT-
day was ia; there has been inquiry at
our brokers during the last two or three
days for more than is usually wanted.
The supply is small, and 1871 was Cffer-
ID for 1t. ScTips are quiet, only a r0u-
ne trJker's business doing st our quo
tsUIOTs State copRptroller's warrants
eie strong, ard the outside figures-96t
buying, and IS selliDg-are the prevalent
Iates. Some Charleston stock changed
hands at Z, that and some small trans
actions in Insurance stocks was all that
transpiIei. The loss of cotton on the
Mary Bell, the burning of which Is men,
TONED in another place, affected some of
our insurance companies, among them
the PIe ak, $1,000; H .rnando, $3.50;
Washington, SlS75; Merchants, $1,000;
the PbeoiX, OF Brooklyn, also l. st 5000.
We remind the reader that "the BOYS"
behind tbs desks al the various banks
want to see the Msrdi. Gras proceedings,
aud can do SO only by the kindness Of
those doing business at the bank to do il
esrly-ever so early, il 20 sible. Then
they will not have to stay into night
doing up their books.
BUyiH0. Selling.
Memphis tax scrip G68 7O972
Aonhty warrants ---lOgl2 H9I5
State g. 49, g7ILdQS
ArkansGs State scrip -.-........---.67eJ6S 7Oa72
The PRODUCE EXCHANGE was almost
deserted yesterday morning. There was
no up river boat srdved until too late to
allow Of samples from their cargo being
offered during Change hours. The in
fiuences around were all OF too joyous a
character 10 be favorable to business.
Corn was not off ring, and there was no
activity in the demand; the market was
rot favorable one 10 quote f0Om. Bran
was stagEant; little corn brsn changed
hRuds, but lower Tsts 50 sacks at
Sl2 50. oats were in no active demand;