Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1878-06-28
FINANCIAL.

Nothing new, nothing Interesting in bank
ing circles was to be found yesterday-only
dullness. Money In plenty, with little more
inquiry for II som dave, and a little less on
Others, but the whole far below what the
cashiers want to see; 8 per cent. IS the preva-
lent rate. Exchange remained at par Buying
and "A premium selling on New ! ork; on
other eastern cities par buying, and u preml-
um selling for both demand and sight; on
New Orleans, discount buying, selling at
par The Louisville Journal says million
dollars of 4 per cent bonds has been sold at
that place New York reports mention a
loan OF half g million at one per cent. per an
num- government b ,nds the security. Inc
St. LOUIS Globe reports: "a more settled
sentiment is pervadiug business circles here,
and merchants believe solid basis oil trade
will DE reached next fall, through the medium
of natural conditions OF resumption (not
financial alone) which will regulate relations
between neigLbors and dealers, in the sale
and interchange OF the great crops. The
New York Trade Gdzshe says that fears ex-
ist that the fall trade wall be injured by the
repeal of toe b. Dkupt law. A section
of merchants 1t says, agItated for the repeal,
and now the large majority of men In trade
deplore it. To repeal the law and provide no
substitute, they regard as a great mistake.
All good commercial lawyers, It is affirmed,
are agreed about this. The United States
board of trade has taken the question into
consideration and is taking steps to have an
efficient. and, so far may be, inexpensive
bankrupt law framed and passed at the ses-
sion of congress which will convene IN De-
cember next One of the purposes of having
a national and therefore uniform bankrupt
law throughout the country Is to avoid the
enactment Of State laws, which some OF the
States will be certain to have, and thus avoid
the entangements likely to grow out OF IN
congruous or conflicting laws. In our stock
market we heard Of an offer OF 3S12 Tor
ain Odl1 ctfvs hnuds without UpttlnU them.
IBY TELEGRAPH.7
PARIS, June 27.-Rentes. 113f. 671Sc.
NEW ORLEANS, June 27.-Gold, 1908
@l0l1s; New York sight, 3-l6@ 4 premium.
Sterling, $50.
LONDON, June 27-Consols. IS Ills;
Illinois Central. 851E; Pennsylvania Central,
3l1%; 90. of 1861. l07l4; 10 40S, 1lO14;
new Is, 1888; 41as, 1883.
NEW YORK, June 27.-Money easy at 2
per cent. Prime mercantile paper, 3@4
per cent. Customs receipts, sos, 600. lie
assistant treasurer discussed 1881, OOo.
ClearinGs. 100000. Sterling exchange,
closed at 10Oai. Borrowing rates, lCG2 per
cent. to fiat Government bonds were
very firm; coupons Of 1881. llO9s; do.
1866, new, los; do. 1867, 1885; do. lo68,
Ill; do. new s., 1851; do; AZ, IO416; dc.
4s, I0llf: 10-40s, registered, lOoS4; do. eou-
DOns, lOo currency U.s. AAO(i DNotC CShN'
were quiet; Tennessee 6s, old, SO; Ten
nessee o.. new, IS; Virginia 6s. old, 20;
Virginia 6s, rev. 20; Missouri 6s. 1854.
Railroad bonds, strong. Toe stock market
was firm and higher in the early dealings,
especially for New Jersey Central
which advanced 1d2 per cent; the improve
ment in the ba ance OF the list was 12Gl per
cent, the latter Rock Island. The market was
somewhat erriluc throughout the afternoon,
and weaker at intervals. Pacific Mall
advanced l u per cent. from last point on the
report that the company had MADE settle-
meut with the Panama railroad. WABASH
rose 23S per cent. on a rumor that the court
had refused to appoint receiver. New
Jersey Central was strong and higher, IN
sympathy with the advance at London.
Lake Shore. Northwestern, 81. Paul, Western
Union, and most OF the coal shares were
weak. The Chicago and Rock Island RAN
road directors met IN this city to-day. There
was a very full meeting Of the board, and
the following notice was issued to the stock
holders: "A quarterly dividend OF PEI
cent. on the capital stock oil TINS
August /, 1878, at this office. In addition, tc
this, a dividend of per cent. has been de-
clared on the capital stock of the Iowa South
ern and Missouri Northern railroad company
held by the treasurer IN trust for the STOCK
holders OF this company. -FOUR proportion o
the amount of your dividend on the stock o
the Rock Island company held by you, or o.
cents per share A like dividend will be palC
ON the stock of the Iowa Southern and MIS-
sour Northern railroad company, on the hrs
DAYS of November, 1873, aud February AM
MAY, 1879" This makes Rock Island II
per cent. stock. Tranactions aggregated
100000 shares, of which 5000 were Enc
II 900 Lake Shore 6400 Northwestern com
mon and 5000 preferred, $500 Rock Island
10000 ST. Paul common and 700 preferred
5000 Wabash, 5000 Lackawanna, 700
New Jersey Genital, 1000 Morris and Essex
10000 Pacific Mail and 300 Western Union
The closing quotations were as follows
Western Union telegraph company, 80 e
Quicksilver, l31s: QUICKSILVER p PREF e. %
Pacific Mail, 1873; Marlposa, III; Mar'po
sa preferred, IOl; Adams Express compa
nv, 1903; Wells & Fargo Express com
pany. 93lf: American Express company, ~ =
United States Express company, 4!19; Ney
York Central, 1884; Erie. 1925! En-
preferred, 800. Harlem, 1873; MiG6lgal
Central, 653i Panama, 100: Union Pacih
stock. 64lI; Lake Shore, 572f; Illinois Cen
trail, s35s Cleveland and Plttsburg, SOH
Northwestern, 475s; Northwestern pre-
ferred, 721$; Cleveland. Columbus, Cinclr
patl and INDIANAPOLIS, 20 New Jersey Cen
trail, -; Rock Island, III; St. Pau. 5l9a
st. Paul preferred, S07s; Wabash, l4l4 Fol
Wayne, "a; Terre Haute, l0l16; Ten
Haute preferred, 103; Chicago ana AltoI
Ohio and Mississippi, 1875; Delaware, Lacl
awanna and Western. 5SSa; Atlantic and II
cifc telegraph, %; Missouri Pacific, 10
Chicago, Burlington and Quincy, 1861
Hannibal and st. Joe, Ill i; Central PacIi
bonds, l089s; Union Pacihc bonds, lUSs
UuIon Pacific land grants, l07ss; Union r
ci6c sinking funds. lOl19.