Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1878-05-16
FINANCIAL.

FINANCIAL.
Besides the usual routine nothing was {.
be discovered among the banks yesterday,
except that some Of the new dollars had
arrived all bright and glittering, but terribly
heavy when any quantity Is given. 1ester-
day exchange quoted par buying and Il pre-
MUM selling on New York; New Orleans
buying at Il discount, and selling at par.
The New York Monday papers report: SSH
yer In London was to-day 5315d per ounce.
At the New York price the bullion value of
the new silver dollar was 905sc." The west
ern papers give no indications of activity.
The s.. Louis Globe Democrat reports: mon
day did not introduce the current week with
so encouraging promise OF active business
as was shown the first day of the previous
week, and the situation approached to decided
dullness in some respects. Transactions be-
tween banks were limited again, the only i'm
portant sale reported being a lot Of $50, 600
at 81 premium. More could have been sold
at the same figure if offered, but the supply
was, as usual of late, utterly inadequate to
meet the demand, and shipments of currency
were even made in a few cases" The Gin
clnnah Enquirer says: There has been
nothing to excite interest in financial circles,
and the situation has changed very little
Money is easy in all the leading markets, and
all indications favor a continuance of this con-
dition through tine summer months" The
transactions; tax-paying Is going ON active
ly, and tax-paying scrips are in good demand
and firm.
IBY TELEGRAPH
PARIS, May 15.-Rentes, I09f. SOC.
NEW ORLEANS, May 15.-Gold, I0O5a
@l00B. New York sight. Il premium.
Sterling, 4891S.
LONDON, May 15.-Consols for money
and on account, So Lie. United States AIS,
1855; do. 5-20s of 1867, 1856 do. 1040s,
10716; do. new 81, 1855; Erie, 1875 Erie pre-
terred, 3214 Illinois Central, 78; Pennsylvania
Central. %.
NEW YORK, May 15.-Money easy, SO
@415 per cent. Prime mercantile paper,
The assistant treasurer discussed $l03, 900.
Clearings, $l7.000,000 Sterling weak; long,
485; short, 4S71k. Gold opened at l003 and
closed at l001, all sales of the day having
been at these figures. Carrying rates, e to
i per cent. Borrowing rates, fat and l per
cent. Government bonds strong and active;
coupons Of 1881, 1915; do. 1865, new, 104;
do. 1867, 1854; do. new As, 1868, 100; new
IS, l0424; new Ass, 1895; new As, l005s;
10-4Os, 1863 do. coupons, 1855 currency 6s.
ll914. State bonds dull; Tennessee 6s, old,
394; Tennessee IS, new, SO; Virginia 6s, old,
25; Virginia 6s, Few. q; Missouri g., los.
Railroad bonds were firm. The stock mar
hcJ III lue mOTulnk was ReD6TdL1 uTu Ou d
moderate volume of business Lake Shore
was leading feature, and advanced = per
cent. The fluctuations were slight In the
granger shares and coal stocks. Kansas Pa
ci6c advanced ! per cent. Michigan Central
and Pacific Nail were the weak spots of the
market the former declining about i per
cent. and the latter l per cent. In the after
noon speculation was strong and higher, the
closing prices being about the best of the day,
showing an advance of lf@1 per cent. from
the lowest point Trunk-line shares were
strengthened by kilograms from Chicago to
the effect that east bound freights had been
advanced. Granger shares were active aud
higher on reports of continued large traffic,
and Northwestern was favorably affected by
the prospect of dividend to morrow. Coal
stocks were largely dealt in, and improved on
the talk of an advance in coal. The Michi-
gan Central books for the annual election
were closed to-day, and the business
of transferring stock was active throughout
the day. During the morning the cash stock
for transfer purposes was worth =
per cent. bonus, but subsequently the rate
advanced to IL per cent, and considerable
business was done between and ! y per cent.
Before three O'Clock there was no difference
between cash and the regular stock. For the
control of the road an active contest exists
between William II. Vanderbilt on one side,
and Moses Taylor, Samuel Sloane. and their
friends, on the other. The Pacific Mail
steamship companys transfer books close on
the twentieth instant, and there IS an active
contest for the future control OF the company
waged between Clyde and others, now man
aging the company, and Henry Hart and
friends. The Chicago and Northwestern di-
rectors meet in this city tomorrow, when it is
expected that dividend of 81 per cent. for
the past Elk months will be declared on both
common and preferred stocks. 1t was re-
ported this evening that the statement to be
submitted to the directors would show a sur
plus after the payment OF these dividends.
Already more than one-half of the ten mil
lion AZ per cents recently taken by the syn
dictate have been absorbed for investment.
The advance in gold was due to purchases to
pay for the AZ per cent bonds. Transactions
aggregated 100000 shares, of which 1900
were Ene, 26 600 Lake Shore, $500 Wa
bash, IL, 900 Northwestern common, 5000
Northwestern preferred, $500 st. PAul COM
mon, 5000 st. Paul preferred, p, 400 Lack
awanna, 1900 Delaware and Hudson, $500
Morris and Essex. 2200 Michigan Central,
2I00 Ohio and Mississippi, 1900 Western
Union, 100 Pacific Mail and 1900 Kansas
Western Union telegraph company, 81 q;
Quicksilver, l6; Quicksilver preferred, 80;
Pacific Mail, 1881; Mariposa, 10l; Maripo-
sa preferred, 1919; Adams Express COM
pany, 103; Wells q Fargo Express company,
9019; American Express company, so;
United states Express company, 40;
New York Central, l07; Erie, l2l4; Erie
preferred, %; Harlem, AZ; Michigan
Central, 63l1; Panama, 20; Union Pacific
stock, 50; Lake Shore, 621k; Illinois Cen
trail, 764; Cleveland and Pittsburg, 7414;
Northwestern, 81; Northwestern prefer
red, 7l4; Cleveland, Columbus, CINCINNATI
and Indianapolis, 26; New Jersey Central,
lS1f; Rock Island. 1864; st. Paul, 81;
st. Paul preferred, 7615; Wabash, 1874; Fort
Wayne, 901k; Terre Haute, los; Terre
Haute preferred, ITO; Chicago and Alton,
721S; Chicago and Alton preferred, SO;
Ohio and Mississippi, 1854; Delaware, Laek-
awanna and Western, So; Atlantic and Pa
ci6c telegraph, 81; Missouri Pacific, 1913;
Chicago, Burlington and Quincy, 1919;
Hannibal and st. Joe, 1l2SS; Central Pacific
bonds, 10TH; Union Pacific bonds, 10714;
Union Pacific land grants, 1047s; Union Pa
cfc sinking funds, 964.