Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1876-03-15
FINANCE AND TRADE.

- -
MONEY MATTERS presented no new
festure yesterday, excep. that the recen
increased sales Of cotton are bringing IL
more liberal supply Of exchange, which
we sgsin quote at discount buying OF
New York, selling at ! premium; or
New Oriesns buying st } discount sell
ing al par. Gold quoted IT ll44 In New
YORK In the morning, but at noon had
risen 20 lIsE; the advance did not arouse
confidence in the continuance, and Oul
brokers we're Offering only 1874, but q
choice lot would bling ll33 Scrips were
without change. The 1875 Memphis
tax scrip wss stiff az our quotations; one
broker quoted s5yGs5 buying and 9JG92
selling. State warrants were wanted.
with only a me8gTe supply and We found
some parties quoting 9Gl697 buying and
9S,ay99 selling, the figures depend upon
the smount OF supply in relation 20
wants from day TO day. The Nashv lie
American, Of Sunday, rep)rtef: Comp.
tr0ilers warrants are scarce and in de-
mRnd. Dealers psy So and hold st o."
There was some excitement on Madison
street when the telegraph male known
that the Bank Of the State Of New York,
which is q natl 1nAl bank, had suspend
ed. II was sooo ascertsined that some
Of our institutions were affected by the
catastrophe, but fears were eXpreE sad tn At
it might shake public conf lence and so
affect business, cotton included, and that
it might drag others down with it. The
full account we give in another column
believes these fears. TIE manner in
which the condition OF the bank was eX-
posed is guarantee for the good standing
OF such as safely pass official examine
ton. the New Orleans RcoyU1e, Of
Sunday, Gays good paper is readily taken
by the banks there, but il IN light Offer
ing. The Visksburg Herald, of Satur-
day, reports an increase Of bu siness, with
a moderate demand for money; ex-
change was plenty aud collections good,
exchange rates are psT buying on the
ezst, selling at Z premium: per cent.
discount on New rleans, selling st per.
The Chicago Tribune, OF Saturday, says:
4" The general state OF affairs is one Of
dullness aud increasing loanaOle re-
sources. The country is paying prompt
ly the paper discounted here LAST winter;
deposits are increasing, and the supply
Of new paper is diminishing. Bank and
mercantile collections are better than
they have been. The loan-msrket IN
every direction ia serene and sluggish.
New York exchange was sold at 25950c
discount between banks for $1,000.
Buying. Selling.
Memphis tax scrip a62 6id66
Memphis tax scrip, $50. So tag-
county warrants. .Oo5.2 .4Gl2
Arkansas Stale scrip -...-....----..61 Ggj9 1910
THE COTTON MARKET was checked
yesterday by gloomy weather, but there
was fair inquiry, especially from ex.
pOrtsrs, who took over two-thirds Of
what was sold. The market was very
firm, and full prices were obtained OF
existing quotations. The stock of cot
ton in the sheds was counted, and an
excess found OF SIS bales, which will be
added to the running account to-day.
Liverpool kilograms were again fIvOra-
bic, with GALES Of 1900 bales. New
York was steady; futures were unsettled
for a while by the announcement OF the
Suspension OF the Bank OF the State OF
New York, but closed steady. Gold
that one time went up to lis, closed at
1I42. The New York Bulletin Of Satur-
day says: Goa contracts, business is still
without unusual activity, with a contin-
uaUion OF the old feverisb, nervous feel
ing noticeable, though sellers retain the
Rdvantsgs and have agsin added some
what to cost. The stimulating infiu-
euces to-day were obtained in the main
from abroad, Liverpool ruling pretty
steady from the outlet, and leaving off
somewhat better on arrivals. More
favorable RdviceJ from Manchester
were reported, but many bears still
insist that the market is being unduly
stimulated by combination Influences,
which must result ia 8 bad break sooD."
The same paper reported on Monday:
Liverpool comes higher, wss sustained
all day and closed strong on both public
and sprivste advlcss, and this, with g
somewhat improved feeling in regard to
Manchester, has been the foreign in
fiaence. On home account we have the
Iight run OF receipts, aud reduced esti-
mates fr New Orleans for next week,
coupled with the strong bullish tenden-
cies ia soma quarters, especially from
operators recently on the other side Of
the question" The New York ChroHi-
Gle. OF Saturday, states; 1.-THE huctua-
tions that have taken place are largely
due 10 speculative manipulation, and to
the struggle between the two parties on
our cotton exchange" Quotations at
the Memphis cotton exchange were as
follows: