Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1878-08-23
FINANCIAL.

Money, like other commodities, Is In next
to no demand for business purposes lust now.
The rate remains at Solo, but Is nominal in
the absence of transactions. Exchange in
our banks quoted at par buying and Il SELL
ing on New York; on other eastern cities
par buying and Il selling for both demand
and sight; on New Orleans d discount buy
ing; selling at par. Western papers report
an increasing demand for money from the
country, and among the grain growing dis
tricts remittances are becoming large. The
close approximation of foreign exchange to
the shipping point OF gold excites attention.
The London Times has uttered warning
note to the effect that drain of gold from
England might bring on financial crisis:
The assured anticipation of better times"
receives the following confirmation from the
United States bureau report: The people
are growing stronger every month, and while
this country will not jump into prosperity, it
will find itself farther along during the next
six or twelve months than it would have be-
ieved possible six months ago; for the assur-
ance comes from every hand, by reports to
this Office from all parts of the common
wealth, that employers of labor are starting
up or preparing to start up this fall. Occa-
sionally we still hear of works closing, but
these reports grow less and less frequent"
IBY TELEGRAPH
LONDON, August -Consols-money,
bonds-41Ss, 1855; 5-20s of 1867, 1865;
10-40s, 1854; new IS, 1925. Illinois Gem
trail, 81; Pennsylvania Central, 1874; Read
ing, 1624; Erie, 1624; Erie preferred, 81.
NEW YORK, August 22.-Money market
closed active at 1903 per cent. Prime mer-
camille paper, $685. per cent. Customs re-
ceipts, $3.50, 900. The assistant treasurer dis
bursed $4,000. Clearings, $10415, 900.
Sterling exchange, bankers bills, 484; sight
lot h.
out the day. Carrying rates, 19@2 per cent.
Borrowing rates, per cent to fiat. Govern
ment bonds weak and lower for some; coupons
of 1881, 1075s; do. 1865, new, 1929; do. 1867,
los; do. 1858, 107; do. new 5s, l06; do. AIS,
10494; new Is, 1904; 104Os, registered,
1864 do. coupons, 1854; currency is, ll9I8.
State bonds steady; Tennessee Is, old, IS; Ten
Virginia IS, rev, Il; Missouri Is, 1925,
Railroad bonds firm. The stock market thus
morning opened firm, and prices advanced Is
to "a per cent, the latter for Lake Shore
Later there was a decline of Is to Is per
cent? After midday the market was hrmer,
and prices recovered 4@H per cent, but
subsequently heavy feeling set in, and the
lowest prices of the day were generally made
toward the close. Delaware, Lackawanna
and Western were most active, the former
declining ~ and the latter a per cent.
Transactions aggregated 1000 shares, OF
which 2200 were Erie, %, 800 Lake Shore,
1900 Wabash, 1000 Northwestern common
and $500 preferred, 1900 st. Paul common
and 1000 preferred, ID, 900 Lackawanna, $500
Michigan Central, 1000 Union Pacific, and
$500 Western Union. Closing quotations:
Western Union telegraph company, 91A;
Quicksilver, II; Quicksilver preferred, 30;
Pacific Mail, 173s; Mariposa, 1011a; Maripo-
sa preferred, 1913; Adams Express compa-
ny, 1861; Wells & Fargo Express compa-
ny, 80; American Express company, 48A i;
United States Express company, 46; New
York Central, 1105s; Erie, 1614; Erie pre-
ferred, 81; Harlem, 1873; Michigan Cen
trial, 694; Panama, 126; Union Pacific
stock, 6424 Lake Shore, esq., Illinois Cen
trail, 794; Cleveland and Pittsburg, 49,;
Northwestern, 34B; Northwestern prefer
red, 663s; Cleveland Columbus, Cincln-
natl and Indianapolis, 2594: New jersey Cen
trail, 3324; Rock Island, 1874; st. Paul, 81 !;
St. Paul preferred, 694 Wabash, lis; Fort
Wayne, 95; Terre Haute, 1011s; Terre
Hante preferred, 1929; Chicago and Alton,
80; do. preferred, 1908; Ohio and
Mississippi, 7sS; Delaware, Lackawanna
and Western, 57B; Atlantlc and Pa
cifc telegraph, 25; Missouri Pacific, 101 n;
Chicago, Burlington and Quincy, 108;
Hannibal and st. Joe, 11218; Central Pacific
bonds, 1865; Union Pacific bonds, 106;
Union Pacific land grants, 104S; Union Pa
6ic sinking funds. 1034.