Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1876-02-20
FINANCE AND TRADE.

MONEY MATTERS were dull yesterday
checking out 70 pay bAn6s appeared tC
be about the principal business done
Exchange falls CT 10 proportion as the
sales Of cotton become smaller, and those
Of last week we.e 1900 bales below the
sales Of n week before; no inconve,
uience ensuss, hogeveT, as the demand
for il is very light. Rates remain uu'
chsnged, buying on New York at dis
count, Gu New Orleans 81 ; discount,
selling st par on both. Scrips were
quiet; 5000 Arkansas State scrip q! 20
ives the last fa'e we heard Of. A lot OF
5000 Memphis gas cOmpauy's stock
sold at 81, cash; $40 600 from Memphis
fo!d in Nashvills a. week agO a. 80
@ I'D was over again IN New York, Rt
noon Il quoted ll33; he-e the brokers
were offering 1924 for lots. The follow
ing We COPY from London Dispatch re-
ceivsd Yesterday ~ the APPEAL office:
ssMopey easy on close settlement; dis.
count market steady, with much busi-
ne-s going to the Bank Of England.
There is prospect OF heavy re-
ceiuts Of gold from Ameyi-
ca and Australia, which has
weakened the rate somewhst. AmeTi-
can gov-rnments generally show a irsc-
uoLal decline. Railways, Of eF some
fiu .lUations, close higher than at the
opening Of the week TIE grain trade
experienced 3 che;k In the upward
movement; the weeks prices were
IN sin;ain, d with dlfficulty.n fhe New
York Bulletin. Of IbuBIay, reports:
''TheFe wss 40 advance In gold to-day
30 llSi, the market, however, closing
with 1874 allSt the quota.io and with
at sale II 1884 This rise was due d.
reel 10 the announcement that q large
amount Of gold coin will be exported by
tO.morrOW's steameIs, the amount IN
the morning having been given IL
81 500 CO.. aad IA the afternoon st
81 so 90. Inc rise In gold should have
weakened steriiUg exchange, but did
not, 81 there IL 20 chance 10 make b.lls
against cottouH The New Orleans
Picdyiine reports a co1sidersb decrease
ia loans, indicating a shrinksge ia trade
a d al increase in the supply OF money,
which accounts TO come eX.ent fer the
Ec.ive movement in securi les, capital
seeking sOaod Investments outside
Of the wants of trade. The
offerings being more liberal, COM
nnerciai sight on New York vas
weaker st 1891 Is premium, banks
check az Z premium, commercial sight
at l-l6 premium. The Louisville Jour
mai reports = firm money market, east
ern exchange firmer, New York sight
bill. at par between tanks. The Chics-
20 Times reports dullness t. be the ruling
feature and the slate Of affabs uusatis
tory; eastern exchange firm at 25C950e
9 thousand discount between banks.
Tee b JstOH Advertiser says that there is
"1uite al amount Of embarrassment
am lBg merchants Of moderate cspitsl
be:sUse the banks seem disincliued to
give accommodation TO bOfrOwers in q
email way This is not the best bank
ing in tie world. The Scottish banks
lend freely r. sums IS small as $50, aud
their experience teaches uDeqqivOcally
that there II more security "a each bust
hess than tSat zone with heavier bOr-
rOWers. Great houses are not ntcesssri-
~ the BIS cuitomers." The New York
Journal Of Commerce reports unwilling
less 10 buy silver on account Of the
sharp decline; the sum IL increasing,
while all the commercial nations ere
adopting gold IS the sole standard Of
va ue.