Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1878-05-30
FINANCIAL.

FINANCIAL.
The New York papers have nothing to dis
cuss, financially, but the syndicate and thu
low rates Of money, and as we are not New
York, we can find nothing to discuss at all
from day TO day our banks have mo @otonou'
quIetude. Tho rate OF money yesterday re-
manned mainly at per cent, and one or two
banks reported little more paper Offering
Exchange was at par buying and II premium
selling on New York; on other eastern cities
par buying, and Il premium selling for both
demand and sight; on New Orleans. 4 dis
count buying, sellingat par. The New York
Bulletin, of Monday, reported: Silver IN
London was 53l4 per ounce. At the New
York price the bullion value of the new sill
yer dollar was about 90l cents gold. Money
continued vevy easy below 3 per cent until
the last hour, when il advanced to per cent,
but quickly fell back to 2l5@3 per cent.
The principal changes In the bank state
ment for this week are the gain OF y, COS, 800
in legal-tender notes, which shows how
strong the current of money is running to-
ward this center, and the loss of s., 203, 100
in specie, which reflects the movement Of
gold from the ownership Of private persons,
who had the gold on special deposit in the
banks. TO the ownership of the United States
treasury. AS the treasury has the power to
place gold on deposit with banks, Its dlsap-
pearance from bank vaults causes no alarm
TO the money market" In cur local stock
market Memphis gas stock is wanted and
will bring I03; 5000 Bank of Commerce
stock was Offering at 80. Orders are received
daily by our bankers for government bonds
if resumption fails to be a success it will not
be for want of money. for that is plenty and
Is everywhere seeking means of investment.
IBY TELEGRAPH
PARIS, May 29.-Rentes, l01f SIC.
on L A
@10l9s; New York sight. Il premium.
Sterling, 48S11.
LONDON, May 29.-Consols for money
and on account, 81 ) Is. United States AIS,
1855; do. 5-20s of 1867, 1896 do. lO-40s,
I091s; do. new 30, 1875; Erie, l43S Erie pre-
ferred, 32I5; Illinois Central, 064; Penn
sylvania Central. 30lf.
NEW YORK, May 29.-Money active at %
as per cent Prime mercantile paper, 3@
AZ per cent. Customs receipts, 1901, 900.
The assistant treasurer discussed $29, 900.
Clearings, S2l 500 0O0 Sterling dull; long,
4S3; short, 1851. Gold opened and closed at
10l16, with sales during the day at I0I. Bor-
lowing rates, "a, 215 and LEA per diem.
Government bonds n m; coupons of 1881,
1855; do. 1865, new, 1886 do. 1867, 1875 /;
do. new As. 1868, l09; new IS, 1855; new
AIS, l0456; new IS, l0l1i; l0-40s, 1919;
do. coupons, l071z; currency 6s. 1917.
State bonds steady; Tennessee 6s, old, 49,;
Tennessee 6s, new, 81 Virginia 6s, old,
%; Virginia IS, rev. %; Missouri Is, 1867
Railroad bonds strong. Stocks buoyant with
an improvement from the lowest point of the
day, ranging from e to 2ls per cent. Deal
ings were especially active toward the close,
when the higheat quotations OF the day were
recorded. The features in the upward move
ment We're Rock Island, Northwestern, St
Paul, New York Central and Chicago, Bur-
lington and Quincy. The annual election of
directors of the Pacific Mail steamship COM
pany took place to day. The total number of
votes cast represented 172,O00 shares. The
following ticket was elected, receiving $1,000
votes, bare majority: Henry Hart, David
S. Babcock, JJbn Riley, Samuel l.. Phillips,
William Remesep, Wilson q. Hunt, James
G.. Sheldon, Charles +. Livermore and John
ii. Mahoney. Thursday being a legal holiday
the banks, and the stock, gold and cotton ex-
changes will be closed. The transactions
aggregated $4,000 shares. of which 1900
were New York Central, $4,000 Erie, 5000
Lake Shore, IA 900 Wabash, $500 North
western common and 1900 preferred, 1890
Rock Island. 1900 81. Paul common and 1000
preferred, $4,000 Lackawanna, 1900 New
Jersey Central, 1000 Delaware and Hudson,
5000 Morris and Essex, 100 Union Pacific,
1900 Chicago, Burlington and Quincy, 100
. st. Joseph, 10000 Western Union, and $500
Pacific Mai. the closing quotations were:
WESTERN Union ISleSIdpu company, COB
Quicksilver, 1874; Quicksilver preferred, 81;
Pacific Mail, 1873; Mariposa, 10l; Maripo-
sa preferred, l0l Adams Express compa-
ny, l02; Wells & Fargo Express COM
pany, 81; American Express company, 40;
United States Express company, Az;
New York Central; Il04; Erie, Az; kne
preferred, SO; Harlem, AZ; Michigan
Central. esq; Panama, Is; Union Pacific
stock, 20; Lake Shore, 627S; Illinois Cen
trail, "a; Cleveland and Pittsburg, 8015;
Northwestern, $50; Northwestern prefer
red, 772f; Cleveland, Columbus, Cincinnati
and Indianapolis, 2S; New Jersey Central,
23s; Rock Island, ll2; st. Paul, 541s
st. Paul preferred, S0If Wabash, 1875; Fort
Wayne, 9616; Terre Haute, l02; Terre
Haute preferred, Il2; Chicago aud Alton,
70; Chicago and Alton preferred, 1Ol;
Ohio and Mississippi, 100; Delaware, Lack
awanna and Western, 5615; Atlantic and Pa
ci6c telegraph, 221S; Missouri Pacific, 1913;
Chicago, Burlington and Quincy, 10424;
Hannibal and st. Joe, lll1s; Central Pacific
bonds, I0S1S; Union Paclnc bonds, 1855;
Union Pacific land grants, l0615; Union Pa
ci6c sinking funds, 100l4.