Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1878-07-18
and Memphis
FINANCIAL.

IL was still too hot yesterday for man or
mule ID show activity, and OF course the
bank ref .Cted the prevailing dullness, and
without q shadow OF change
Exchange quoted at par buying and Il
premium selling on New York; on other
eastern cities par buying, aud premium
selling Tor both demand and sight; on New
Orleans, "a discount Buying; selling at par.
Tue yew FORK HsraR reported, on Saturday:
O. The FLOWING were the rates Of exchange on
toned cities: S8yannah-buyiug "a, selling
u Charleston tirmer, 3-l6; selling Il; St.
LOUIS, 80 premium; New Orleans, Commercial
3-l6, bank 7; Chicago, 65 premum; and
Boston par Ine New York Bulletin, Of
Tuesday. reports activity in government per
cents at 1905, last week they amounted to
81 Boz, $50, during the last eleven weeks 10
S2OOJ0,OQJ. The eastern financial papers
say that the present brisk demand arises from
the fact that savings bank depOsitors have in
many cases Withdrawn their deposits since
the payment of the July interest aud put the
money In governments. 1t Is besides no
doubt the case that the July interest and div
ldends from all classes Of securities are being
used IN the same way, so that 1t
may De- cXpe ted that there will be
some decrease IN the demand as soon as
this universal money Just thrown on the mar
ket ~ absorbed. Considerable quantities Of
the bonds are also bought 10y the banks all
bFNA ALE COUNT AZ ptAtI 70 OOstiu interest
on the great surplus Of money which the
business depression leaves on their hands,
and these bonds will Of course be put on the
market again whenever trade revives." The
APPEAL yesterday received the following
from New ok, showing that the movement
Is still going on: There was an unusual
heavy movement yesterday in United States
bonds, the sales OF a single national bank
alone amounted 10 nearly four million. 1t was
also stated thlta number Of government bond
sales were making for foreign account, and
that during the past week bonds amounting
to nearly three million were disposed Of in
IBY TELEGRAPH
NEW ORLEANS, July 17.-Gold, 10OK@
1904; New York sight, i premium. Ster
ling exchange, bankers bills, 4S6@4S7.
LONDON, July -Consols-money,
% 9-l6; account, 9j5a; Pennsylvania Central,
34l!; New Jersey Central, 4215; Illinois
Central, 81; nsols, 92Is; 415s, lO61a; 5-20s
Of 1861, luSla; lO-4Os, III Il; new 5s, 1885
ex-coupon; Reading, 20's; Enc, l61s; Ere
preferred, 5Z5a.
NEW YORK, July I7.-Money market
easier at ll5@2 per cent. Prime mercantile
paper, BOA per cent. Customs receipts,
$3jI 900. The assistant treasurer DISTURBED
$751; 900. C.elriucs, fl4 100000. Sterling
exchange steady; 90 days, As; sight ex-
change on New York, 4s6 Gold steady at
ing rates, 3. 1, and lat Bar silver,
ll41s gold. Government bonds generally
steady; coupons Of 1891, 1925; 10 1865, new,
1O2ls; DO. 1861, lO6; do. lS6S, los; do. new
- lU74; do. 49,, 1919; do As, l0012;
10 40s' registered, i59' do, COUPONS, 1925;
Tennessee 65, old, 3jl5; Tennes zee 6s,
new, 55l2; Virginia IS, old, 20: Vir-
GINA 6s, rev, 20; Missouri IS, 1919.
Railroad bonds were strong. Stocks were ir-
regular the g,eJter portion Of the day, but in
the main weak, with the greatest decline IN
st. Paul shares. Just before the close there
was "a recovery Of Ia to , percent, the mar
ket closing hrm. Transactions aggregated
$1,000 shares, ct which 1000 were Erie, 20 900
Lake Shore, 2OO0 Northwestern common and
5000 preferred, 26, 900 st. Paul common and
5000 preferred, ll,000 Llckawanna, 1000
New Jersey Central, 400 Western Union,
and 2400 Pacific Mail The closing
Western Union telegraph company, 904;
Quicksilver, l2ti; Quicksilver preferred, 33;
Pacific Maui. l7l2: MJrposa, 1904; Maripo-
81 preferred, 1904; Adams Express cOmpa-
ny, 1919; Wells L Fargo Express COM
p1nY, 9laf; American Express company, Az;
United states Express company, 4794; New
York Central, 1914; Erie. ljfs, kue pre-
ferrei, 3la4; Harlem, i39; Michigan Cen
tral, 81 4; Panama, l24; Union Pacific
stock, 6319; Lake Shore, 6215: Illinois Cen
trial, So; Cleveland and PiJtsburg, S2s;
Northwestern, SOS; Northwestern pre-
ferced, 773s; Cleveland, Columbus, Cincln-
nab and Indianapolis, 25l New Jersey Cen
trail, 49, Rock Island, 1l42f St. Paul, sos;
st. Paul preferred, SOL; Wabash, 1l35s Fort
Wayne, 941%; Ierre Haute, 101; Terre
Haute preferred lob; Chicago and Alton,
sos; Chicago and Alton preferred, l03;
Ohio and Miss ssipqI, "a; Delaware, Lack
awanna and Western, 603s; Atlantic and Pa
oifc telegraph, 27sfi Missouri Pacific, 10l;
Chicago, Burlington and Quincy, 112;
Hannibal and st. Joe, 1I15; Central Pacific
bonds, 1864; Onion Pacific bonds, 1861;
Union Peci5ac land grants, los; Union Pa,
CHIC sinking funds. l041S.