Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1878-08-25
FINANCIAL.

For the busy hum of the marts of industry
the inquirer must not look into our Madison
street institutions; the hum" is not there
only the silence of Tara's halls, telling in
dumb language that commerce is under
an eclipse. Exchange in our banks quoted
at par buying and u selling on New York;
on other eastern cities par buying and a
selling for both demand and sight; on New
Orleans a discount buying; selling at par.
Speaking of the last United States treasury
report, the New York Tribune says: "IU
gold coin and bullion the treasury held $132,-
Ola, 619 Al, and in silver coin and bullion,
S21 ,S68, 249 Sc. 1t is noticeable that the
amount of silver certificates on hand was
81, 647, $40, which shows that the treasury
promptly gets back through payment of
duties nearly all the silver certificates, as well
as the silver coin, as fast as either are issued.
TIE treasury had on hand 81, 730, 33l 63 in
standard silver dollars, so that the amount
up to that time successfully forced into actual
circulation by all the efforts of the treasury
was insignificant. Although everything in
the power of the treasury has been done
to induce banks to assist in creating a circu-
lation for the silver dollars, the entire de-
mand from all the banks does not average
more than 100000 weekly, and no small
part of the coin thus put out speedily returns
through payment of duties or taxes" When
there is no active demand for money in any
shape, it follows there can be no demand for
silver; when activity awakens a demand for
currency silver will, of course, participate in
the movement.
IBY TELEGRAPH
PARIS, August 24.-Rentes, 112f. 40c.
NEW ORLEANS, August 24.-Gold,
10038@10058; sight New York exchange, a
premium; sterling exchange, bankers bills,
495@487.
LONDON, August -Consols-money,
"a 11-16; on account, "a 1916. United States
bonds-415s, 1855; 5-20s of 1867 1865 !;
1O-40s, 108; new IS, 1914. Illinois Cen
tral, 8l15 Pennsylvania Central, 50; Read
ing, l64; Erie, 1879; Erie preferred, 81.
NEW YORK. August "a Money market
easy at 115@2 per cent. Prime mercantile
$751;, 900. The assistant treasurer discussed
$4,000. Clearings, IS, 24I 900. Sterling
exchange, bankers bills, 483; sight exchange,
4S7. Gold dull at 10O1s all day. Bor-
rowing rates were 1a@1 per cent. Gov
eminent bonds were steady; coupons of
1881, 1914; dc. 1865, new, 1929; do. 1857,
1044; new 4s, 1004; 10-4Os, registered,
1868; do. coupons, 1886 currency Is, 1879
State bonds quiet; Tennessee IS, old, IS; Ten
nesSee IS, new, 334; Virginia Is, old, 81
Virginia Is, new, II; Missouri IS, 1925,
Railroad bonds strong. In the stock mar
ket to day st. Paul was the feature, and de-
clined In the forenoon under the announce
| ment of decreased earnings in the third week
in August. In the afternoon the whole mar
ket became strong and higher, the advance
ranging from 3 to IL per cent, the latter
for st. Paul preferred. At the close there
was reaction of d to 20 per cent. The diff
ferences between the Union Pacific and Pa
ciic Mail companies are being adjusted.
Transactions aggregated $1,000 shares, OF
which 5000 were Lake Shore, 1900 North
western common and 1900 preferred, $500 St.
Paul common and 5000 preferred, 26CO
Union Pacific, 10000 Lackawanna, and $500
Western Union. Closing quotations were:
Western Union telegraph company, 92A
quicksilver, IL; Quicksilver preferred, 81;
Pacific Mail. 175s; Mariposa, 1914; Maripo-
sa preferred, 1919; Adams Express compa-
ny, 10412; Wells Il Fargo Express compa-
ny, 8S15; American Express company, 49,
United States Express company, 46; New
York Central 1104; Erie. 1873; Erie pre-
ferred, 81; Harlem, 1873; Michigan Cen
trail, 6994; Panama, 1251a; Union Pacific
stock, 657S; Lake Shore, 662s; Illinois Cen
trail, 794; Cleveland and Pittsburg, 70;
Northwestern, 355S; Northwestern prefer
red, 6714; Cleveland, Columbus, Cincin-
uati and Indianapolis, 264; New Jersey Cen
trail, SO; Rock Island, 1l44; st. Paul, 3115;
st. Paul preferred, liz; Wabash, lax Fort
Wayne, 95; Terre aaute, 1929; Terre
Haute preferred, 1925; Chicago aud Alton,
30; do. preferred, 1OO1s; Ohio and
Mississippi, ~; Delaware, Lackawanna
cifc telegraph, 26; Missouri Pacific, 101A;
Chicago, Burlington and Quincy, 10816;
Hannibal and st. Joe, 1874; Central Pacific
bonds, 1861; Union Pacific bonds, 106;
Union Pacific land grants, 1861; Union Pa
fiic sinking funds, 10315.