Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1876-08-20
FRANCE AND TRADE.

new. Exchange remains at mar buyinR
on New York, selling at premium;
New Orleans buying at discount, SELL
ing at par. The New York Bulletin, Of
wednesday, repo.s the following were
the rates to-ds,y for New York exchange
at the pl..ces named: Savannah.
p'eml IN; Charleston scarce, lat prem
IN; Cincinnati dull, Ito discount;
New Orleans, commercial, /; bank, (;
Chicago, nominaly, 50c to 60s premium.
AGd st. Louis, Soc premium. The GOLD
market was hesvy and lower to-day, the
immediate cause having been the treas
ury sale Of 81 269, $50 tomorrow. This
amount Of gold was paid to-day into the
treasury by Messrs. FIX q Hatch, who
bought the g 1901 600 bonds sold Sstur-
day. The United States assistant
treasurer to-dsy paid out SiO9 600 gold
for interest, and $1,000 for fiye-twenties
redeemed. The silver payments to day
were SlS, 600. Silver In London
was reported by the bankers at 534d Der
ounce, ss yesterday. Press dispatches
say that the IN srket was bare, and that
S{t could have been obtained for
round lots " The Liverpool monthly
Cotton Circular Of Smith, Ed wards & Co.
has jut reached US; We copy the follow
ing: "Tne money market during the
past month has been extremely quiet,
and the bank rate remains at per cent,
while the rate for short loans and for the
discount OF prime paper has been as low
as l per cent. There is no sign Of any
change ct present; the stock OF bullion |
IN the Bank of England has reached the |
unprecedented figure of e33, 200 000, |
while that in the Bank OF France has |
risen as high SIS So 900, 0O0f! These enor-
NOUS accumUl ations speak volumes as |
to the DEP ression Of trade. Nothing but |
extraordinary stagnatiOn and want Of |
confidence could make lenders of cap'- |
tai accept such a rate as per cent, and |
1t remains to be seen whether great /
masses Of money will be allowed to lie |
on deposit st such nominal rates. ',
will be- contrary to ali past txperier "a ~
some speculative mazda docs y 8, nit
mStely result froUl this state If th,nns.
but for the pre2ent ali sneen'
lstive Investments ,Are stunned. and The
intermediary CLIP IS Of fiaanciers pro-
moters OF conn Anies and such like, are
Regarded as '>nemies CT mankind. - A
S 4p sgtam N IN London yesterday ssys:
business at the stock exchange was
EeI! III -ctive during the week; English
Iuuus nave shown dizziness and home
Ia' roads, despite some rather fayorabIs
traffic returns, have been fl At: ia the
foreign market the msiJrIty of nova.
ments have beed upvs I'd, although the
pest prices OF the week. were not main
tAlned to the close. Yesterday Amer.
cans were very firm, both Erie aud gov
etnments showing. an advance; the
nSiket To-Day ls very quiet snd changes
Are rev anu unir dportant." Gold quoted
1IU4 All MORN Jg in New York; here
tnefe Is sion : expectation of further de-
cline, and yrokers were Offering onIv
IO94 to ITO. Nothing reported in stocks
or tcrips.
LIE COTTON MARKET yesterday was
uLoop' ngi easlness showing itself In the
nlsi let's, with decline OF t. in New
vi cans, l.l6d in Liverpool spots, and
4.S2t in deliveries. Our market was
dull, only some SPINNER ders filled.
The cotton exchange received the fol- |
lowing dispatch fiam the New York |
Chronicle: More favorable, improved |
reports from all sections on the Missis. |
slppi. Memphis hsd better weather
Ine dam &c was exaggerated. Little |
X lck, Vicksburg and Shreveport report |
favorable conditions. In the CT n sbrake |
lands OF Alabama there is harm by the |
csterpiliars. The statement Of Selma |
last week was ,rrect-they telegraph |
Tonight that csterpiIlars are webbed M.
il the weather becomes hot and dry the |
evil would be arrested if rainy there |
viii be loss to crop in that vicinity. The |
Atlantic States give favorable reports, ~ |
The warm, dry weather of the fast two |
or three days will probably irLproye the |
condition of the crop; but shoRers were |
visible falling south OF Memphis yes. |
terdsy. We have re ceived the ex.
cellent monthly Liver GOAL Cation Cir.
cular Of Smith &, E,iwards. frnm
which we gathsr the following:
1.-THE improveme ut In silver, and conse-
qlent'y OF lndi'.n exchange, has affect. |
ed Manchestef bzpeficiaIIy. checking
ths tenoehcy to short time. Spinners
Deing out II cotton have bought freely,
espsciap OF American low cottons,
Wnlcu. are comparatively cheap. Man
cheSter is doing more business and stocks
s.ce working down. The statistical posi-
ton OF cotton Is sound, and stocks will
rapidly run down. Toe rpinion is COM
mon that four and 8 quarter millions
will be the American crop. The inn |
=. provemeDt in Manchester rests mainly |
on the price OF silver and cotton ex-
change but the lowest price, it is thought,
has besn touched, and cotton next sea-
son will be higher rather than lower; il
not so, depression may return as bad as
ever" Quotations at the Memphis cot
ton exchange were SIS follows: