Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1878-06-02
FINANCIAL.

INQUIRIES Mt the banks yesterday showed the
powerlessness of the FIRST Of the month, Al
least as far as the first Of the present June il
concerned, to make things active in dull
times. Money abundant and still in little
call at per cent. generally. Exchange was
at par buying and Il premium selling
on New York; on other eastern cities
par buying, and Il premium selling for both
demand and sight; on New Orleans, Il dis
count buying, selling at par. The New York
Post reports: Exchange on New York is
reported by telegraph as follows from the
cities named: Savannah, par@ Il premium;
Charleston, I-5@ i premium; New Orleans,
H@4 premium; st. Louis, 81 per $1,000
premium; Chicago, par; Boston, l21Sc per
$1,000 discount. Silver in London is 50 I'D
per ounce. At the New York price the hull
lion value of the new silver dollar is $0.90l0
gold. Our dispatch from Washington shows
that with more than s., OOO, 900 on hand, less
than $600,000 have been called for;
and that Of the $342, 900 in silver GER
tiicates issued, $4,000 have been paid
back at once into the treasury, the only use
made % them being to save the difference in
their value and that of gold In paying Gus
toms duties" Exchange Is sinking, and instead
of the large exports Of specie which were wit
messed in May last year, there is already some
talk of imports of gold from Europe, if the
preRiurn continues to advance. The New
York World says gold settlements with the
treasury are making good progress and ac-
tual scarcity is avoided, and it may now be
considered absolutely certain that the full
amount wanted for resumption in January is
secured. The only remaining obstacle to re-
sumption is the gold certificates, which the
secretary should cease to issue. In ou= local
stock market nothing was reported, except a
Ill l.. e 80. ok<akr 81
IBY TELEGRAPH
PARIS, June 1.-Rentes. 11Of. Csc.
NEW ORLEANS, June I.-Gold, 101@
@10l1i; New York sight, 3-l6@4 pre-
MUM. Sterling, 4S711.
LONDON, June 1.-Consols for money
and on account, 81 7-l6. United States AIS,
1851; do. 5-20s of 1867, 1895; l0-40s,
1921; DO new IS, l07lf; Erie railway shares,
Is; Erie preferred, 80; Illinois Central, $50;
Pennsylvania Central. 30A.
NEW YORK, June Money active at
Sos per cent, closing at 3@4 per cent
toms receipts, $2S3, 600. The assistant treas
urer discussed $269, 900. Clearings, &c.
100000. Sterling firm; long, 4s4; short. 486.
Gold opened at lO1, declined to 100B, at
which It closed. Borrowing rates, fiat to 2
per cent. per annum, and GA per cent. till
MONDAY Tor use. OOVeEnLneuI OOnuS were
weak and lower; coupons of 1881. 1885;
do. 1865. new, l045s; do. 1867, 107ll; do.
new As, 1858, l09; new IS, 1867: new AVS,
1885; new Is, l0l Il; l0-40s. 1925; do. cou-
pons, 1875; currency 6s. 1881. State bonds
quiet Tennessee Sc, old, 3S1I; Tonnes
see 6s, new, 941s; Virginia IS, old, Is;
Virginia 6s. rev, 25; Missouri g., l054.
Railroad bonds were strong. The stock mar
ket was weak early in the day, and prices
yielded Il TO l16 per cent, but subsequently
there was a recovery of II TO l per cent in
the entire list, and a firm tone characterized
the dealings. Toward the close the market
became suddenly active, and exhibited D
marked buoyancy. Prices advanced n to
3sk per cent in the entire list, New Jersey
Central and Rock Island leading the upward
movement The former sold up to 2919 and
the latter to l144@l15. At the close the
highest quotations of the day were current.
Transactions aggregated 10000 shares, of
which 1900 were New York Central. 2l.0O0
Erie, $500 Lake Shore, 1900 North
western common and 1900 preferred, 5000
Rock Island, 1900 st. Paul. 1000 Ohios, 5000
Lackawanna, $4,000 New Jersey Central,
1900 Delaware and Hudson canal, 100 Nor
ris and Essex, 100 Pittsburg, 1000 Western
Union, 6000 Pacific Mail, and 400 Kansas
Pacific