Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1878-06-30
FINANCIAL.

The universality of the present dizziness in
the financial market is such that report Of
the financial condition Of any one market,
will prove an accurate description of the state
Of any other market. The New Orleans
Times, Tor instance, reported on Thursday:
1--WE are absolutely at fault for something TO
say about the money market different from
previous reports. At all the banks we hear
only of full vaults and no demand and partic-
ularly no demand worth mentioning IN the
commercial line, all of which exactly applies
to the Memphis money market of yesterday.
Exchange remained, yesterday, at par buying
and Il premium selling on New York; on
other eastern cities par buying, and Il premi-
um selling Tor botd demand and sight; on
New Orleans, Il discount buying. selling at
par. The New York Pest, OF Wednesday, re-
ports: ''SIiver 10 London Is 5234d per OF as
yesterday. At the New York price the bull
lion value OF TIE AZ grain silver dollar was
3 SSqz 10 gold Last week &c, 1000 standard
silver dollars we're paid out in exchange
for greenbacks at the various depos-
itories, directly TO the people. Silver
will continue TO be paid out for greenbacks,
where the trearury officials are satisfied that
the object IN securing the coin is not merely
for the payment of customs duties. The New
York correspondent OF the New Orleans Times
says that holders of policies IN the south of
the Continental life insurance company, which
failed some time ago, will be glad to learn
that the receiver will this month have $780,
600 to $4,000 cash in hand from real estate,
foreClOsed mortgages and other resources,
which viii be divided among the rightful
owners. A lot OF 5000 Little Rock mort
gage bonds were sold at auction, and brought
a good price, 43c. The State National. as
10. NV oHu 1ank in
other place, yesterday declared dividend OF
per cent. from the net earnings of the past
SIX months, payable on demand.
IBY TELEGRAPH
PARIS. June 29-Rentes. l13f. 571Sc.
NEW ORLEANS, June 29-Gold, 1908
@I0l16; New York sight. Il premium.
Sterling, 4S9.
LONDON, June 29.-Consols for money,
IS 1916; on account, SO. Illinois Central.
S34; Pennsylvania Central, 321S; 5-20s of
1861, I073s; 40s, 1104; new IS, 1081S;
Az, lO6; Erie, I5a4; Enc preferred, 30.
NEW YORK, June 29.-Money easy at 21s
per cent. Prime mercantile paper, 3@4
per cent. Customs receipts, 1928, 600. The
Clearings. $l5,000,000. Sterling exchange,
$3.50 4S3. Gold opened at lO04 and closed
at 1905 Borrowing rates, 2, per cent.
and Hat. Government bonds were steady;
coupons Of 1881, 1908; do. 1866, new,
1861; do. 1867, 1854; do. 1868, Ill; do.
new 81, 1858; do. AIS, lO41l; do As. l0l a;
lO4o 5o S So O0 S6SSs x HoS
quiet; Tennessee IS, old. 361s; Tennes
see s., new, "a; Virginia 6s, old, 20;
Virginia Is, rev, p: Missouri O.. LOG.
Railroad mortgages were 6rm. The stock
market in the forenoon was heavy and prices
declined Il TO Ia per cent. under large
sales. The principal activity was in Lake
amounts down to Sc, owing to the dis.
appointment at the l per cent. dividend
declared yesterday. At noon prices
showed a recovery of to q per cent. from
the lowest point. In the afternoon there was
an advance of to Il per cent. in the gem
eral list, and / q for Rock Island. At the
close the markey was weaker at a reaction
o. 16@3S per cent Transactions aggregated
10000 shares of which $1,000 were New
YORK Central, 5000 Erie, Al 900 Lake Shore,
5000 Northwestern common and 1900 pre-
ferred, 5000 Rock Island, 1000 st. Paul COM
mon ami 800 preferred, 200 Ohios, $500
Wabash, 300 Lackawanna, 5000 New Jer-
sey Central $500 Michigan Central, 5000
Western Union, and 1900 Pacific Mail.
The closing quotations were as follows:
Western Union telegraph company, 81;
Quicksilver, l234 Quicksilver preferred, ~;
Pacific Mail, I61s: Mariposa, lOl; Marlpo-
ga pfcicfTtus LO4I2F AOahiS Ia pACSS OOAhP"
nv, 1903; Wells & Fargo Express COM
pany, SO American Express company, 474;
United States Express company, AZ; New
York Central, 1875; Erie. Isl; Erie
preferred, 800; Harlem. l39; Michigan
Central. 6416; Panama, I23: Union Pacific
stock, 64ll; Lake Shore, 561l; Illinois Cen
trail, s31s; Cleveland and Plttsburg, 1919;
Northwestern, 471s;. Northwestern. pre-
ferred, 72sk; Cleveland, Columbus, Cincln-
matt and Indianapolis, 24s4; New Jersey Cen
trail. 35<i Rock Island lie; st. Paul, 5l15;
st. Paul preferred, SIS Wabash, las Fort
Wayne, "a; Terre Haute, 10l1S; Terre
Haute preferred, I04; Chicago and Alton,
IS; Chicago and Alton preferred, l02;
Ohio and Mississippi, 10715; Delaware, Lack
awanna and Western, 5S115; Atlantic and Pa
ciic telegraph, 25; Missouri Pacific, 10l;
Chicago, Burlington and Quincy, lO6;
Hannibal and st. Joe, Ill; Central Pacific
bonds, 1085s; Union Pacific bonds, 1854;
Union Pacific land grants, l071k; Union Pa
cifc sinking funds. l0l15.