Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1878-05-19
FINANCIAL.

gong on AZ the banks yesterday, out Win NO
new feature; money plenty at generally s
per cent, with only a light call for it. The
western papers all speak of quietneSs with
them; the st. LOUIS Globe Democrat, of FRI
day, reports in its financial column, 'busi
ness was essentially dull all round, with
rush for eastern exchange that could not be
answered. The Cincinnati Enquirer also
said: The call for bank favcrs was light at
the leading discount houses, and the supply
of loanable funds ample, the market ruling
easy to good borrowers at 7@S per cent. In
bank" Exchange in our market quoted at
par buying, and II premium selling on New
York; New Orleans buying at discount
and selling at par. the New York Bulletin,
Of Thursday, stated - that SILVER in London
was unchanged. and the bullion value OF the
new silver dollar here was about 9Ol5 cents,
gold, and gold advanced to 1908, on &C
count Of the increased demand for use in
subscriptions TO United States bonds The
latter were strong here and in London, the
fOur-and- a-half per cents there having
advanced 10 1855 1859. The frmness
in gold is attributable 10 speculation favored
by the Withdrawals from bank to be covered
into the suh-treasury for the four-and-a half
per cents. which are sold quite rapidly. 1t is
claimed that there is a scarcity of cash gold
in the New York market, hence the advance
in the premium; but it is hardly probable
that il will 90 much, if any, further, for a
higher rate for gold will probably check the
free sales Of four-and- a-half per cents; and,
furthermore, the secretary Of the treasury
may conclude to prepay after June LIST the
July interest without rebate, which amounts
to about 80, 100000. With sterling as low
as at present, there will be no export de-
mand, and all prospects are unfavorable to a
continuance, or at least to a further rise. !"
The local stock market was quiet as usual,
with good inquiry for more city securities,
and sale of 5000 city bonds at 381S.
TBY TELEGRAPH
PARIS, May I8.-Rentes, I09f. Csc.
NEW ORLEANS, May 18.-New York
sight, II premium. Sterling, 4S7.
LONDJN, May 1S-Consos for money
l042l; do. 5 POS of 1867. 1881; do. l0-40s,
l0S4; do. new 5s, 1864; Enc, 12SI; Erie
preferred, 81; Illinois Central, IN; Fennsyl-
vania Central. %.
NEW YORK. May 1S.-Money easy at
3 per cent. Prime mercantile paper, 412@
So per cent. Customs receipts, $l75,OO
The assistant treasurer discussed sos, 600.
Gle arinRs, $l3,000,000. Sterling quiet. 4S5
@4SS Gold opened at 1908 and closed at
l00B. Carrying rates, 2 per cent. to fat.
Government bonds strong; coupons of 1881,
l0SlS; do. 1865, new, l04l4; do. 1857,
107; do. new d. 1868, 100; new IS, l0518 /;
new AIS, 1919; new As, 10l; l0-4Us,
I07; do. coupons, 107; currency 6s. 119A.
State bonds steady; Tennessee 6s, old, 395s |;
Tennessee O., new, SO; Virginia 6s, old,
25; Virginia 6s. rew. 81: Missouri g., 1854.
Railroad bonds firm. The stock market In
the morning was moderately active, and in
the main firm. The leading feature was an
advance in Rock Island from 100 to ITO; Chi
cago. Burlington and Quincy sold up 10 1851
Lake Shore advanced from 6316 to 50 !;
Northwestern common rose to 573s, and pre-
ferred to 123s; Wabash advanced from IA
to l45s; Western Union to S318, and Lacka-
wanna 70 Sc. In the afternoon the market
was lower on realzltions, and prices declined
Il TO Is per cent, but closing quotations
showed n general recovery of II to 20. The
chief activity was on coal stocks, granger
shares aud Lake Shore. The transactions
aggregated 90, 900 shares, of which 100 were
New York Central. II 900 Lake Shore, 400
North western common, 1900 Northwestern
preferred, 400 Rock Island, 7400 st. Paul
common, 2O00 st. Paul preferred, $4,000
Lackawanna, 5000 New Jersey Central, 2200
Delaware and Lackawana, 1900 Morris and
Essex, 2400 Chicago. Burlington and Quincy,
$500 Ohio and Mississippi. 1900 Western
Union, aud 300 Pacific Mail. The
closing quotations were as follows :
Western Union telegraph company, 1925;
Quicksilver, is: Quicksilver preferred, 30;
Pacific Mail, 1917; Mariposa, l0l; Maripo-
sa preferred, l0l y Adams Express company,
lUl, eA-lnti heils q Fargo Express cOn-
pany, o ii American Express company, 494;
United States Express company, 4S4;
New York Central. los; Erie, 12l4; Erie
preferred, 81; Harlem, Al; Michigan
Central. 64l5 Panama, 20: Union Pacific
stock, 632f; Lake Shore, 629S; illinois Cen
trial, n; Cleveland and Plttsburg, 745s i;
Northwestern, 4424 Northwestern prefer
red, 7l9 Cleveland, Columbus, Cincinnati
and Indianapolis, 2716; New Jersey Central,
205s; Rock Island, 1895; st. Paul, 81 I;
st. Paul preferred, 95aI; Wabash, las; Fort
Wayne, 81 rerre Haute, los; Terre
Haute preferred. l20; Chicago and Alton,
"a; ChicaRo and Alton preferred, So;
Ohio and Mississippi, l09li; Delaware. Lack
awanna and Western, 65; Atlantic and Pa
cifc telegraph, 81; Missouri Pacific, 10l1S;
Chicago. Burlington and Quincy, l054;
Hannibal and st. Joe, lI2I4; Central Pacific
bonds, l071S; Union PacIhc bonds, 10711;
Union Pacific land grants, l054; Union Pa
cifc sinking funds, 9716.