Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1878-07-14


terday; considering the amount OF business
doing there was "A fair demand tor loans nj
S(dl0 per cent, with an ample supply OF cur
rency 10 draw from. Exchange quoted at
par buying and premium selling on New
York; on other eastern cities par buying and
II premium selling tor BOTH demand ana
sight: on New Orleans. discount buying:
selling NJ DIR. The New York Bulletin, OF
Thursday. say: silver in London advanced
10 52sEd per ounce. the bullion value OF the
new SILVER was not above 50 cents gold to-
day. Secretary Sherman, who was at the
sub-treasury in this city to-day, expressed 20
us the opinion that before there Is a suincient
supply OF silver dollars in this country to
make the gold value Of the 4l211 grains, the
practical par for all coin obligations-whIch
supply, he says, can hardly be obtained in
side Of three years-bhe people will demand
such a revision Of the laws as will leave gold
and gold paper the only money OF account.
As 20 resumption, he speaks of it and OF the
maintenance OF it with great confidence. and
compares the condition of the United States
treasury with that of the Bank OF
England most favorably for US The
following were the rates OF exchange
on New York, on Thursday, at the
aforementioned cities: Savannah, buying Z,
selling II premium; Charleston quiet and
easier, 3-l6@ Il premium; st. Louis, 20 pre-
MUM; New Odeans, commercial 3-l6, bank
Il; Chicago, 90 premium; Boston steady at
par. Ia the local stock market not a thing
was to be heard Of; there is a good demand
for all good, sound stocks, but nobody offers
them.
TBY TELEGRAPH.I
PARIS, July 13.-Rentes. 115f Acc.
NEW ORLEANS, July 13.--Gold, 1O012@
I001l; New York sight, 4 premium. Ster'
ling exchange. bankers bills, 4S715.
LONDON, July 13.-Consols for money,
90 SIG; on account, 96ll; Illinois Central.
$40: Pennsylvania Central, 3219; Reading,
10; Erie 1871; Erie preferred, 81; 2OS Of
1867, 1072z; I0-4os, ll02; new 5s, 1855;
41zs, 1868
NEW YORK, July I3.-Money market
easier at 1@2 per cent. Prime mercantile
S298, 600. The assistant treasurer disbulsed
$4,000. Clearings, $l2,0c0,000. Sterling
exchange. bankers bills, ABA; sight exchange
On New York, 4S7. Gold steady, l0014
Borrowing rates, l-64 per cent. till Monday,
and IG12 per cent. per anuum, and Hat. Gov
eminent bonds were firm; coupons OF 1851,
IO7I{: do 1865, new, l0215 do. 1867, 1853
do 1868, los; do. new 81, l01; do. 41ss, ia i
do. 4s, I00l{; 10 40s, registered, 100; do. cOu-
pons, 10916 currency Is, l201s. State bo0ds
were quiet; Tennessee Is, old, 35; Tennes'
see g., new, "a; Virginia IS, old. 20
Virginia 6s, rev, p; Missouri Us, lOi12
Railroad bonds were strong. The stock mar
ket was irregular. In the early dealings
Western Union, Lake Shore, Northwestern
Ohios, and Burlington and Quincy were strong
and higher, while most of the other st cks
were lower. Ia the afternoon the MAJ kei
was weak, but toward the close there was q
sharp upward turn in prices. The advaact
ranged from = 10 212 per cent, aud was due
partly TO the lowering OF short contracts ol
the 'bears.' who became tlmid on the result
Of the recent railway conference at SARATOGA
which will cause large saving In the work
ing expenses OF Nauderbilt's roads. 1t may
lead to n new pooling arrangement between
the trunk lines. The greatest rise was IL
New Jersey Central, which rose to 4u&
Lake Shore was firm throughout the day, anC
closed at 6235, the highest point. Mlchlgar
Central recovered at the close from COS Z
671%. Western Union fell off to 991s, anC
rallied to 904. Transactions a0grega feo
IO2. 900 shares, of which 1900 were E1e
1900 Lake Shore, 1000 Northwestern com
mon and 10000 preferred, 1890 st. Pau
common aud4200 preferred, 4500 Lackawanna
800 New Jersey Central, 2000 Michigan
Central, 1860 Western Union, and lOOC
Ohi)s The closing quotations were as foilowa
Western Union telegraph company, 5t5s
Quicksilver. I3. Quicksilver preferred, - 4
Pacific Mail. Ia; Mariposa, 1904; Mar pc
sa preferred, 1914; Adams Express com pa
ny, lO4l{; Wells & Fargo Express c, "a
pany, SOL; American Express COMPANY, A. q
United States Express company, 4l9l; Nev
York Central. 1854; Enc. 1923 IN
preferred, 3124: Harlem, 1885,. MiehiE q
stock, 629S; Lake Shore, 62l4; Illinois Cen
trail, SIS; Cleveland and Pittsburg, 81
Northwestern, 81; Northwestern Pre-
ferced, 775S; Cleveland. Columbus, Cineln
matt and Indianapolis, 2599f New Jersey Cen
trail. 405S; Rock Island; IS; St. Pau, d
st. Paul preferred, 771s; Wabash. 1875; Fol
Wayne, 94t3; Terre Haute, 10l; Ter
Ha1te preferred, -; Chicago and Altos
SOH; Chicago and Alton preferred, l0l
Ohio and Mississippi, 73s; Delaware, Las
awanna and Western, sos Atlantic aud "a
cifc telegraph, 20; Missouri Pacific, l0I
Chicago, Burlington and Quincy, I'LL
Hannibal and st. Joe, liz; Central Paelt
bonds, 1864; Union Pacific bonds, 1Oa3i
Union Pacific land grants, los; Union IA
cifc sinking funds. l0424.