Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1878-06-12
FINANCIAL.

The banks were doing only a routine bust
ness vest, rday, money quoting l0dl2 pei
cent, the latter beng the prevalent rate, and
lower In special instances. Exchange, with
the low stock Of cotton, can be IN only mod
crate Offering, and currency has occa-
sionally to b. shipped. The rate remained
at par buying and Il premium selling on
New ork; on other eastern cities par buying.
and 4 premium selling for both demand and
sight; on,New Orleans. Il discount buyinV.
selling at par. The New York World, of
Saturday, reported: Exchange on New
York remains steady at the following rates,
telegraphed from the cities named: Savan
nah, p.r@A premium; Charleston, 3 l66D
Il premium; New Orleans, l.l6@ Il premi-
UNI st. Louis, 81 per $1,000 premium; Chi
ca2o, par; Boston, II &c per $1,000 discount"
In our local stock market transactions are
few and far between. There is a steady de.
mand for all good, paying stocks and bonds,
their property, and few are offered, or, if Of
tered, 1t Is 1t prices quite above the market.
IBY TELEGRAPH
NEW ORLEANS, June ll.-Gold, lola
10l1f; New York sight. 3-l6@4 premium.
Sterling, 1897.
NEW YORK, June 11-Money easy ut 81
@31S per cent. Prime mercantile paper,
@41e per cent. Customs receipts. $l66, 0O0.
The assistant treasurer Gisbntsed $34 900
C!earings, 81, 600, coo. Sterling strong, 1853
@4S515. Gold opened at 1905 and closed
at .lO2. Borrowing rates were sal per
cent. to fat. Government bonds firm;
do. 1867, 1914 do. new a., 1858, 10; new
IS, 1861; new AIS, 1031S; new As, I01 d!
10-40s, regular. lO71s do. coupons, 1879;
currency 6s, 119B. State securities were
quiet; Tennessee 6s, old, 30; Tennes-
see s., new, 35; Virginia IS, old, 20;
Virginia IS, rev, %: Missouri 6s. 1868.
Railroad bonds were quiet. The stock mar
ket was irregular and IN the man weak. At
one time prices showed a decline of from Il
@s6 per cent. from the highest point, with
Lake Shore, Erie ard Michigan Central as
the feature in thea d Jwnward movement.
Toward the close there was a recovery of
from 16@53. Illinois G ntral was exception
ally strong. Certain heavy specu ators, dis
satisfied with the recent course Of the mar
ket, were free sellers o. Lake Shore and Erie
long stock, viii had depressing effect.
Sales OF Lake Shore dividend for the coming
six months were made at per cent. The
executive committee Of the Western Union
telegraph company met to day, aud recon-
mended the payment OF quarterly dividend
OF IL per cent. The earnings OF the COM
pany for the quarter were equal to dividend
of 2l4 @22s per cent. After paying the IL
per cent. dividend the company will have a
surplus of $3.50 900. The earnings of the
Milwaukee and Sc Paul road show an in
crease of only $4,000 for the first week in
June. Transactions aggregated 125,000
shares, OF which "a, 900 were Erie, $1,000
Lake Shore, 1000 Wabash. 1000 Northwestern
common, 1000 st. Paul, 2000 Lackawanna,
3400 Michigan Central, 1000 Illinois Central.
1900 Cleveland, Columbus, Cincinnati and
indianapolis 5000 OnIos, aud ! / 900 Western
Union. Closing quotations were as follows:
Western Union telegraph company, S54;
Quicksilver, IA; Quicksilver preferred. 34a4
Pacific MAIL 119; Mariposa, 10l; Maripo-
"a preferred, l0l; Adams Express com pa
NY, l03; Wells & Fargo Express COM
pany, 9212; American Express company. 40;
United States Express company. 1885;
New York Central. Ill; Erie, 153s tne
preferred, 81; Harlem. All; Michigan
Central. $685. Panama, %; Union Pacific
stock, $50; Lake Shore, -: Illinois Cen
trail, $50; Cleveland and Pittsburg, 81;
Northwestern, 81 Northwestern prefer
red, 761f; Cleveland, Columbus, Cincinnati
and Indianapolis, 361S; New Jersey Central,
2916; Rock Island. l5l4; st. Paul, 5l4;
st. Paul preferred, 1913; Wabash. 1873; Fort
Wayne, 81; Terre Haute, 102; Terre
Haute preferred, Ill; chicago and Alton,
81; Chicago and Alton preferred, IO3;
Ohio and Mississippi, 1885 Delaware, Lack
awanna and Western, $3.50; Atlantic and Pa
ci6c telegraph, 2315 Missouri Pacific, 10l15;
Chicago, Burlington and Quincy, 1861;
Hannibal and st. Joe, ll2; Central Pacific
bonds, 1855; Union Pacific bonds, los;
Union Pacific land grants, 1928; Union Pa
cifc sinking funds, l0l.