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

THE FINANCIAL SITUATION offur5 no
essential not only as compared with last
week, hut with very many weeks be.
fore. Money is in plenty. 1t does EOt
pay fJr keeping, yet it is kept and not
invested, and there is consequently still
a plethora on the market, for borrowers
are few aud their vents small. There
are plenty Of people that want money,
but those are the people that cannot get
1t When 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. TIE banks have com.
plsined Of dullness all week; yesterday
their principal occupation was TO p ~ out
checks. Exchange is in reduced offer.
ing, rs may be expected from the heavi-
ness of the cotton market. The light
call for 1t 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 600 bales, against 81 800 on
the last day Of last February. This is a
circumstance that, II il continue to eX-
ist, will show some effect on the local
monetary condition. Rates of exchange
are now 1 discount on all directions for
sight ! more where grace Is demanded;
checking at the counter on east, north
and south at par. GCl1 has been higher
this week than for sometime, but it has
not continued steadily rising as some
expected, neither has it touched rs.
The rate in Wall street at noon yester-
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 1874 was Cffer-
ID FOR it. ScTips are quiet, only rOu-
{ as tTJker's business doing at our quo.
tHUloI State coQSptroller's warrants
Sle strong, ard the outside figures-963
buying, and 50 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
oar insurance companies, among them
the PL@ ak, 5000; fernando, $3.50;
Washington, SlS75; merchants, $1,000;
the PhHoi OF Brooklyn, also K st S50O0.
We remind the reader that "the boys"
behind tbs desks at the various banks
want TO see the Msrdi Gras proceedings,
aud can do so only by the kindsess Of
those doing business at the bank to do il
esriy-ever so early, il 20 sible. Then
they will not have to stay into night
doing up their books.
BIyiae. Selling
Memphis tax scrip 7Oa72
ApAAAs ----fu1tfL s10t0
State Et91s g71zG9S
Arkansas State scrip -............-.-67t16S 7Oa72
The PRODUCE EXCHANGE was almost
deserted yesterday morning. There was
no up river boat srrived until too late to
allow of samples from their cargo being
offered during change houEs. The in
huences around were all OF too joyous q
character 10 be favorable to business.
Corn was not off ring, and there was 10
activity in the demand; the market Was
lot favorable one 70 quote fCOm. Bran
was stagEan,; little corn bran changed
hRud~, but n lower rate 50 sacks al
Sl2 50. outs were in no active demand;