Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1878-11-29
fClfY tiIneN
FINANCIAL.

Yesterday being Thanksgiving day, and
JFOrlf OF Monday. reports: 'The eIchanges o.
New YORK are last reported by telegraph follows:
Savannah par to u premium; Charleston, I-I6diI
premium; New Orleans. i4dI- discount; st. Louis,
5Oc per $1,000 D emium; Chicago, par TO Doc pre-
southern rate on New YORK was 3 IfsfS. discount
and Chicago was drawing al B0cd 81 per $1,000 dis
CONT. ana money worth 4d5 on call In New
YORK" The New YORK HerId reports that the ease
10 the loan market was increased by the better state
OF the financial position ia England wnere the
Bank OF England directors reduced the minimum
rate OF di count from 10 > per cent This New
YORK Tunes OF Tuesday, reports that secretary SheT
explains that unless congress decree differently
the law on resumption OF specie payments by the
gOvernm-nt OF the United States on the nrst day Of
the approaching new year Will be carried out. Green
backs Will b. eXchanged for coin, wherever they
BE- presented I'm sums Of $50 any multiple OF S5o,
bonds wherever they may be offered. OF course
II IS % be understood that I'm deciding upon
than the letter Of the law. The latter authorizes
him explicitly TO redeem legal-enders onlS at tue
coin for customs dues" The Philadelphia banks
show no readiness 10 follow the action OF the HeE
York banks diScredIting silver. They expect tie
lowest pT ced currency VIII be used In paying debts
and say; III clearinghouse here IS drawn on by
800 OO0 the bank notifies The bankers OF the fact
and expects IN Ter tue Neg YORK arrangem Mt. pay
house looking over Its funds finds that It has IO0,
0OD silver d)lara with which rider the law. this
Neg YORK dfdit may b. paid, AMI SO tenders thOs-
1OlaIs - lnt DtlN ho!ulg lIle lraIt Gan the Dank
here refuse them and have the draft pTOtested? 1t
bank, one Of the best managed and most
Conservative banks I'm the county. Will
reduce its capital flOm 81 100000 to
81 900 600. The reduction OF the capital of tue
Glllatin makes total OF about SD OOOt 90 capital
that has been Withdrawn from the banking business
IN New York since 1873 Tue surplus OF the New
NoIl. banks has. speaking collectively. been IedUc
all Ju- Sll,OO' 900 within the same time. The
tins Will come when The borrowers OF money will
feel ths heavy deere tse In irk facilities, and when
they Will move In self defense in favor OF the reuuc
ton o. The taxation which IS pimed al the stock
holders I'm banks, bat which fall upon and is paid
By the borrowers Of money" The experiments ir
electricity are playing hog with gas stocks. The
New Orleans Tines, OF Tuesday, said: The prncl-
pal subject for gossip CarOndelet street 10 day
WAS the sale Of ten shares of the New Orleans gas
light company at so per share, decline OF So
per share since Friday evening"
TBY TELEGR1PH.l
PARIS, November IS Five per cent. Tentes, 7I5c
for account The Ba1k France statement shows an
Increase In specie The week OF o. 100 900 france
LONDON, November 2S-SIlver closed at
so li-l6d per ounce United States bonds 41is,
1852 1868 leO3i new, IS 1854; Erie, gig;
preferred 32l2; Illinois Central 7HI2: Penns! lyania
Central, 32l2, New Jersy Central b. Reading,
12la CcnsOls-bOth money and accounts,
9OlD-lD