Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1878-05-24
FINANCIAL.

The inactive demand for money at our
banks, with an abundant supply. still con-
tinues; rates SOLO, usually the former. Tx
change quotes par buying, and premium
selling on New York; New Orleans buying
ut Il discount and selling at par; eastern par
buyInR for both demand and sight. The New
York Bulletin, OF Tuesday, reported: THE
syndicate report continued strong demand
for United States bonds, and the sales and
engagements for sales are considerably above
the $35, U00, 900 which the syndicate have alb
soutely taken. The remaining So
100000 may be taken on any day. We have
authority for saying that there has as yet
been not even any talk between the syndicate
and the treasury officials IN regard to the for
mer taking 4 per cent bonds. Silver in Lon
don was 531$d per ounce; tine bullion value
of the new silver dollar here was about
sou cents" The 81. Louis Republican
SAID on Wednesday: Yesterday con-
tinued to bear out the promise Of
dull week so plainly Swallowed on Monday.
There was an utter lack of any real activity,
either at the banks or ON the street, and the
only favorable feature of the financial situa-
ton was the fact that it was not absolutely
dull. There was enough motion In the
wheels IF trade to keep the machine going,
but that was all" In our local stock market
city securities, city funding, city mandamuses
and the accumulations of the city interest
fund, and the probable destination of the
amount and its effect upon future rates, were
all under discussion. There were transac-
lions that were not reported. Outside opera
tors watch the Heather Chinee with much
doubt and bewiderment.
IBY TELEGRAPH
PARIS, May 23.-Rentes, 1lOf. PFC.
NEW ORLEANS, Nay 23.-Gold, 1OO7s
@10I16; New York sight, Il premium.
Sterl ng, 4S91s.
LONDON, May % -Consols for money,
9656; on account, Sc l6 United States AIS,
10516; do. 3 20s OF 1867, l09; do. l0-40s,
1857; do. new 5s, l071s; Ere, 1874: Erie
preferred, 81; Illinois Central, 8015; Penn
sylvania Central. 2815.
NEW YORK, May 23.-Money easy at 2
as per cent. Prime mercantile paper, 4@
per cent. Customs receipts, $4,000.
The assistant treasurer discussed $S5, 900.
Clearings, $12,000,00O. Sterling steady;
long. ass; short, 1914. Gold opened
at 1909 and closed at lOo5s. Car
rying rates, flat to 8 per cent.
Governments active and higher; coupons
OF 1881, 1885; do. 1865, new. l0411; do. 1867,
I073s; do. new a, 1868, 1921 new 5s, 1851;
new AIS, 1042s; new As, 10l16; 10-40s,
I0715; DO. coupons, 1071k currency 6s. 1905.
State bonds steady; Tennessee 6s, old, 80;
Tennessee Is, new, 81 Virginia 6s, old,
Railroad bonds were buoyant. Stocks were
generally strong and higher, the special fea-
ture being an advance IN Illinois Central of
% per cent Western Union was in good
demand on an increase IN the earnings OF
Sal 900 for the first two weeks IN May, and
granger shares were strong because OF large
receipts of grain at Chicago. The sudden
advance in Illinois Central was caused by
rise IN the stock at London. Wabash and
Ohios were the only weak spots OF the mar
ket. The latter declined on the report that
the reorganization scheme was not likely to
succeed. The earnings of the Northwestern
road were an increase of $109, 900 for the
third week in May. Transactions aggre-
gated Al, 900 shares, of which 1000 were Lake
Shore, 1000 Wabash, 5000 Northwestern
common, 1000 Northwestern preferred, 1000
st. Paul common, 1000 st. Paul preferred,
400 Lackawanna, $500 New Jersey Central,
1000 Morris and Essex, 5000 Illinois Central,
5000 Ohios, 5000 Western Union. and $500
Pacific Mail. The closing quotations were:
Western Union telegraph company, 1921;
Quicksilver, 16; Quicksilver preferred, 305s;
Pacific Mail, IS14; Mariposa, l0l; Maripo-
sa preferred, l0l Is; Adams Express company,
I02; Wells 4 Fargo Express COM
pany, 901<; American Express company, 1874;
United States Express ;0TfS comP 2a9y, 40 40;
Central, IS; Panama, II; Union Pacific
stock, $685.; Lake Shore, 6235; Illinois Cen
trail, SOS; Cleveland and PICtsburg, 1875;
Northwestern, 5O34; Northwestern -preter-
red, TN; Cleveland, Columbus, Cincinnati
and Indianapolis, 271E; New Jersey Central,
2216; Rock Island. 1885; st. Paul, 5I5S;
st. Paul preferred, 7775; Wabash, 131 (; Fort
Wayne, 931S; Terre Haute, 10l; Terre
Haute preferred, III; Chicago and Alton,
IS; Chicago and Alton preferred, 70;
Ohio and Mississippi, 1081S; Delaware, Lack-
awanna and Western, 553S; Atlantic and Pa
cifc telegraph, 22A; Missouri Pacific, lOl1
Chicaoo Burlinoton and Quincy. LOB:
Hannibal and St. Joe, lll7s; Central Pacific
bonds, 1918; Union Pacitc bonds, 1875;
Union Pacific land grants, 1885; Union Pa
cific sinking funde, I004.