Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1878-06-26
FINANCIAL.

Any attempt 20 obtain a variation from the
stereOtyped mOnOtoDy and dizziness OF the
bank news ~ IN vain, aud such is evidently
the case everywhere else, as we'll as Memphis
The New York Post complains OF the extreme
ease Of the money market, and the absence
OF confidence in the savings institutions
The St. Louis Republican reports the trading
disposition quite indifferent, produce dull and
lower b. sell. the markets with ut any favor
able phaze. financial affairs at the climax OF
dullness and m a state ot tOrpor that matches
with the worst showing of the season; the
banks report the same story Of nothing do
ing. The Cincinnati Enquirer reports
state Of things unsatisfactory to lenders of
money. The louisville journal says thlngs
there are very duiL and the banks have had
a considerable portion Ct their deposits and
otbe. uyd- applied to the purchase Of gov
eminent bonds The Chicago Tribune says
there Is little demand for discounts, aud dit
fculty IN collections The whole country is
alike, and what Europe Is may be judged of
by the fact that dull and low as our
market Is, London recently sent, IN one lot,
100000 IN gold, 10 be invested here.
Respecting the great run tor government and
other securities, T. Louisville Journal points
out that a time will come when money will
be active, and the time will be fastened by
the demand for the four per cents. This de
mand il tapping The deposit funds Of banks
in all the cites Of the country, aud drawing
Washington. Tn Sc funds are the ordi-
nary resources Of the various discount
markets OF the county, aud they are
being applied 10 the purchase OF a property
which wall have no place IN the operations Ct
trade. When rates Of interest stitfen, as they
must under the circumstances, when business
Il revives. the four per cents Will fall,
and ultimately they viii take their place
somewhere below par. In our market yes
terday exchange renamed at par buying
and Il premium selling or New York; on
other eastern cities par buying, and Il preui-
um selling for both demand and sight; on
New Orleans, discount buying, selling at
par The New York Post, OF Saturday, reports:
. 'Siver IN London l. So 10 I'D per ounce At
. the New York price the bullion value of the
4l2 grain silver dUllaris SO. 1888 in gold. The
German national bank Is now paying, with
out rebate, the July interest on the Memphis
city compromise bonds.
IBY TELEGRAPH.7
PARIS, June 25-Rentes. 113f. 171Sc.
NEW ORLEANS, June 25.-Gold, 1909
@l0I16 New York sight, 3-l6@rl4 premium.
Sterling, 4o71s.
LONDON, June 25.-Consols for money,
IS 9-16; on account, 9556 > 20s of 1867, lO118;
n I040s, lO934; new 5s, 1883; Illinois Cen
raj S51i; Pear sylysnia Central, 81; Ere,
l57s; Ere preferred, 3219.
NEW YORK, June 25.-Money easy at 90
Il per cent. Prime mercantile paper, 3@415
Der cent. Customs receipts, $4,000. The
assistant treasurer discussed $4,000
& Cleariuus, S12 $4,000. Produce exports,
IS, $40, 900. Sterling exchange, 4s51s@
.S71S. Gold steady at 1908 Borrow
government bonds were firm; coupons OF
88l, lO976; do. 1865. new, l044; do.
,S67, IOS16; do. 1868, 1905; do. new s.,
,O64; do. AS, 1884; do Is, !0I1sj
.O-40s, registered l0SlE; do. coupons, lOSl4;
urrency 6s, 1909, State bon bond were
lessee 6s, new, 3415; Virginia 6s, old, 20;
Virginia 6s, rev. % Missouri Is. 1861.
Railroad bonds quiet. The stock market was
.ull and irregular, closing firm and li@l per
ent higher for Lake Shore ana granger
hares, about per cent. lower for Pacidc
Tail. ifa9S lower for Western Union and
lew York Central, and "a higher tor Lacka-
gamma. The remainder of the list was with
Mt important change. The earnings of the
NM Milwaukee aud st. PsGl railroad for the third
7eek in June, increased $1,000. Transac-
ions aggregated $4,000 shares. OF which 74OO
<. Sere Ere. 1900 Lake Shore, 5000 Northwe.t
VA IN. 1000 Rock Island, 5000 st. Paul, 10 600
.ackawanna, 5000 Michigan Central, 2400
,hios, 5000 Western U mon and 1OOO Pac n;
Tail. Following are closing quotation S:
Western Union telegraph company, e61s;
quicksilver, 1875; Quicksilver preferred, Sz1s;
'acihc Mail, l4fsi MarpOsa, lOl; MartpO-
preferred, 10l; Adams Express compa-
( v, IO2; Wells q Fargo Express COM
Nj any, 93t5 American Express company, As;
r 'nited States Express company, 4724; New
'| ork Central lOS58; Erie. 1885 Erie
9.referred, 3024; Haslem, I3S; Michigan
1I entral, 6l2l Panama. 1913; Union Pacific
lock, 81: Lake Shore, 5I3s; Illinois Cen
al, S3lf; Cleveland ana Pittsburg, 7S;
'orthwestern, AZ; Northwestern pre-
reed, 7l5s; Cleveland, Columbus. Clncln-
att and Indianapolis, 261s New Jersey Cen
al, 3lS6; Rock Island. l712; st. Pau, 5024;
J. Paul preferred, 1888; Wabash, lib; Fort
Jayne, SO; Terre Haute, l0l15; Terre
auto preferred, 100; chicago and Alton,
3; Chicago and Alton preferred, lO2;
hio and Mississippi, IO75s Delaware, La, k
wanna and Western, 5S1Si Atlantic and Pa
&c telegraph, 27l4 Missouri Pacific, lOl1s;
aicago, Burlington and Quincy, leo;
annibal and st. Joe, Ill; Central Pacific
binds, l0744; Union Pacific bonds, lO14;
mon Pacific land grants, l07l4; Union Pa
&c sinking funds, l0l1s.