Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1878-07-21
FINANCIAL.

something continues doing AZ the banks II
the way Of loans-nothing very great at pres
emit, but enough TO produce the impression
that more Is coming. that money will be IL
increasing demand, and with a fair degree o.
activity IN that way, Improvement in business
becomes "A necessary consequence. Rates are
SOLO per cent. Exchange quoted at par buy
ing and q premium selling on New York
on other eastern cities par buying, and d
premium selling for both demand and sight;
on New Orleans, Il discount buying; selling
at par The New York Post, of wednesday,
says: "Silver In London Is unchanged
525sd per ounce. At the New York price
the bullion value of the new silver dollar is
S0SS94 gold. The highest price for silver
in London this year was ssh d per ounce, in
the latter pat of February, and the lowest
price was 524d-a few days ago. The ex-
ports Of silver from London to the east during
the first half of the year amounted to "a
$4,000, against 6, las, 900 during the first
halt OF 1877. This falling off In the demand
for India affords an explanation of the decline
in the price since reconciliation in this coun-
try, and shows how little the Legislative ac-
ton Of one country can affect the pnce of a
commodity which is subject to the influences
Of many" The Bulletin makes this sign f.
cant remark: after the suspension of the
operation of the bankrupt act, we shall wit
ness q remarkable falling off in the number
of failures"
PARIS, July 20.-Rentes, II4f. S5c.
NEW ORLEANS, July 20.-Gold, 1003S a
1OO96; New York si9hS Il premium. Ster-
ling exchange, bankers bills, 486@487.
LONDON, July 2O.-Consols 95 GIG;
Illinois Central. So; Pennsylvania CT Mt
raj, 3324; Reading, I924; Erie, 1918 /;
Erie preferred, 321k; 5-2Os Of 1867, IO8lS !;
IO-4Os, Ill; new IS, 1885; AS, 1863.
NEW YORK, July 20.-Money market
easier at l12@2 per cent. Prime mercantile
paper. 394 per cent. Customs receipts,
So, 900. The assistant treasurer disbursed
$4,000. Clearin9s, 1866. 900. Sterling
exchange, bankers bills, 453; sight ex-
change on New York, 486. Gold opened at
10056 and closed at I001S. Borrowing rates,
K@I per cent Bar silver, here, llj15
greenbacks, 1l4js gold; silver coin, B@I4
discount Governments fraction lamer in
some issues; coupons of 1881, I07; do. 1865,
new Sc, 1925; do. AZ, I04116; do. As. 1908;
10-40s. registered. 1884; do. cou pons, 1881 /;
currency 6s, 40. state bonds steady
Tennessee o., old. So; Tennessee 6s,
new, 331f; Virginia IS, old, 20; Vir-
ginia IS, rev, 20; Missouri 6s, 106
Railroad bonds were dull. The stock market
this morning were irregular. Granger stocks
were weak and lower, especially for St. Paul,
which declined from 49l4 to 4794 for C, IN
mon, and from SlA to 80 for prefer red.
Western Union was strong and higher, adj
vancinR from 9214 to $50 The remainder
of the list was firm and without important
change. In the afternoon the market was
lower for granger shares, which declined l@
IL per cent. for the day. At the close these
stocks recovered 1E@I per cent. on favorable
advices concerning the crops. Western Union
was buoyant, advancing to 94a4, and closing
at 9358. Lake Shore was also very firm, sell
ing up to 6214@65. Transactions aggregated
101, 900 shares, of which 1000 were Erie,
l0,700 Lake Shore, 1890 Northwestern
common and 600 preferred, 1880 st. Paul
common and $500 preferred, 1000 Lackawan-
ma, $500 New Jersey Central, 1900 Michigan
Central, and 1900 Western Union. The
closing quotations of the day were:
Western Union telegraph company, $50;
Quicksilver, l3; Quicksilver preferred, -;
Pacific Mail. III; Mariposa, 1904; Maripo-
sa preferred, 1904; Adams Express compa-
pany, 9216; American Express company, AZ;
United States Express company, 4724; New
York Central, 1898; Erie. l616; Erie pre-
ferred, 3l2f; Harlem, l391S; Michigan Cen
trail, 81; Panama, l25; Union Pacific
stock, 623s; Lake Shore, 6216; Illinois Cen
Northwestern, -; Northwestern pre-
ferced, -; Cleveland, Columbus, Cincin-
matt and Indianapolis, =; New Jersey Gen.
trail. 3S2l; Rock Island. 1l4Ii; st. Paul, 48;
st. Paul preferred, S024; Wabash, ia q Fort
Wayne, 95; Eerre Haute, 10l; Terre
Haute preferred, 1915; Chicago and Alton,
81; Chicago and Alton preferred, l03I6;
Ohio and Mississippi, 75s; Delaware, La, K
awanna and Western, 605s; Atlantic and Pa
ci6c telegraph, 271&; Missouri Pacific, 10l Il;
Chicago, Burlington and Quincy, 112H;
Hannibal and st. Joe, liz; Central Pacific
bonds, l05%; Union Pacific bonds, 1865;
Union Pacific land grants, 10816; Union Pa
cifc sinking funds. l031<.