Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1876-08-23
RIHANUB AID TRADE.

TIE FINANCIAL market is like the
world before G4liIe0-it does not move;
dulluess reigrs everywhere supreme,
from Maine 10 California, from London
TO Calcutta. Money il increasingly
abundant ST our hanks, and exchange is
in almost supGhlous Tlsnly ct the usual
rates. The NV York Herald Of SatuI-
day reports: "Pbe following were the
rates Of exchange on New York at the
cities mentioned below: Ssvar n IA, /
premium; Charleston easier, Is TO I
prem an; New Orleans, commercial, !,
bans, 4; Cncinnati, moderate demand,
80 discount; ~. Louis, 100 premium;
Chicago, psg. Sterling exchange is firm /;
prime a-king rates are 4s7l and 1891;
selling ratea, 5S7 and sSS5G4s9. Reich
marks, 9i{G9i5 ami 959d95s" Gold
eighty recovered from the ll01 OF Mon
day, quoting lll3 az noon yesterday;
the aOJye p speT reported: "Gold opened
at III aud qu csly dropped to llOE, clos
ing at IlOl. II Is said that an extensive
bear Influence is operating 10 the market
and that prominent bunk, Is are buying
gold a. every drop OF J or I per cent. A
considerable number OF government
bonds are said to be in process OF i'm
poTtatiOn, which likewise constitutes an
important element OF this market"
Tne New York Bulletin says on the
same subj sct: "There was further de-
cline to-uAy ia the price Of gold, which
closed al 100. No new Influences are
At work on gold the expectation that
Tefulding operations will soon bs re-
neGed by the treasury being used to de-
fan NUt.rgA.- Z. II
decline or advance, because Of these op-
erstions, depeRCs mainly on whether
they result in diminishing the
amount Of gold in the treasury and
county," The Bulletin also says Of sill.
veT: "Hhe silver payments to-day
amCu1ied 10 Sl5,500, ard small change
Is becoming scarce and can be got only
b. paying premium Of 391 per cent
Silver in London, by reason of the turn
in exchange with India, hss become
~we3 ak, and has fallen p within the past
two days, closing at hslf-psst five O'Clock
to-day at 81 per ounce, E1glish stand.
ard. Thig, or the corresponding prices
in New York, makes the gold value OF
the trade dollar SIS! cents, the proposed
silver dollar S6s cents, and the god
value Of the span charge 81 cents to the
dollar. a metal which changes cents
an ounce in two days and is mere un-
certain in price tnEn almost any other
OF our products, is har lily the. thing for
q measure Of valuen
TIE COTTON MARKET was "right-
about-fsce" yesterday, aud everywhere
prices were down; New York under |
went two d elines. Tnis, OF course, took |
ali spirit out OF our market, and nothing
was done beyond filling Gu some spin. |
ners' orders. glance at the Informs |
ton given in cur financial srticla, on |
the subject Of silver, will give the clue |
to the market. A decline in silver uo- |
sets eastern eXch7Dg9 in London, aud |
Manchester is at once psraly z d. The |
New York Bulletin, of Saturday, re- |
ports: "FOr sp0ls an absence of foreign |
demand wAs noticeable, shippers gener |
ally showing an Indifferent sir, and the |
IA sj0rity refusing to bid. There was q
little csll on home account with Jut any |
particular display OF anxiety among |
spinDers, most OF whom were leSs in |
clined to anticipate their wants. Ga |
contracts the turn OF tue market con- |
tiDued favorable to the buying interest, |
and prices are again of. Liverpool Of |
fered little encouragement, the spot de. |
m and has ia great measure subsidized, the |
clique seem to have flashed their mani
BAAANAoA Va oIN A1C
and crop reports OF the moment no worse,
and in some cases better. appearances
are against the bulls Still q great
many have confidence in better rates,
and there is not much open inclination
10 sell the market eff" An Iberia, Lou
isiana, paper says: "There are bat few |
localities which have not had an abun-
dance of rain, aud We believe none in
Attsk2 pas that has had too much. Crops
are very fac, especially cane, rice and
cotton; and OF corn there will be large
surplus, although ia some places 1t SUI
fsred fCom drou,h ct a peziod when rain
was essential for that crop. Not cot
ton worm heard OF yet in all this vast
section, and If they DO come, it will be
too late TO do any damage. The cotton
and sugar crops will be the largest grown
in this State since the war" Quotations
st the Menu his cotton exchange were
IS follows:
YssterdGy. Day before.
Ordinary. ..-... .....-.., sac Sc
0ooo ordinary -........-....lU14 6 l0H9-
Low middling ...-..--...ll-9- nAG-
Middnng..-.-.....-... .....-...li y g 1875
Good mldd!ing.-.....a...,..lz1s9 g. l2&sg--
hidditnR fair g l51s9-
Markaf duiis salas 2n0 hsIaa If all /