Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1878-06-22
FINANCIAL.

I'd a general way, so TAR as the banks are
concerned, there is no change. Money is in
commercial demand, 50 say the New Or
leans Times, Of Wednesday last. and pro-
fesses 10 be describing financial matters in
that city. The fact is that the description
hts the financial state Of things IN Memphis
yesterday exactly and we adopt 1t accordingly.
The exchange rats yesterday remained at par
buying and IA premium selling on New York;
on other eastern cities par buying, and u
premium selling for both demand and sight;
on New Oreans, Il discount buying, selling
at par The New York Tribune reports:
The following were the rates of exchange on
vannah, par and i premium. Charleston,
3-l6@l4 premium. New Orleans, 1l6@
II premium. st. Louis. 81 per $1,000
premium. Chicago, SOC premium. Boston,
par and l21Rc premium. week ago Chi
oago was not quite so firm, aud Boston still
reported 1910 per $1,000 discount. The
New York correspondent Of the New Orleans
Picay,me, says OF the frmness of the New
York premium: The premium does
not appear very badly frightened as yet
by the senate's action receiving currency for
bonds and duties. Indeed, there are not
few who believe that this half-adozen kinds
of legal tender which the United States is
now enjoying will work mischief by-and-by.
IL will prove a snarl which the government
itself will find 1t difficult t. entangle." The
Louisville COHrieT-J0HJnaf remarks: emil
lions of dollars which formerly earned Gas
per cent. interest are invested In per cent
consols, In consequence OF which that security
is triie above par. How long will the 4 per
cents remain at par? Until that revival of
business activity of which we hear so much,
and no longer. Whenever the operations of
trade and industry become sufficiently ex
tended to employ capital as actively as few
years aga, people will conclude not to lend
money at per cent. while borrowing at Gas
per cent.
IBY TELEGRAPH
PARIS, June 21-Rentes, l12f. 75c.
NEW ORLEANS, June 2I.-Gold, 1908
@l0lb; New York sight, 1904 premium.
Sterling, ass.
LONDON, June 2l.-Consols for money,
107; 10 40s, l094; new IS, los; AIS,
1855: Illinois Central, ST. Pennsylvania Csn-
trail, 30A.
NEW YORK, June 21.-Money easy at ga
3 per cent. Prime mercantile paper, 3@41z
per cent. Customs receipts, $2l8,000. The
assistant treasurer discussed $4,000 Clear
inRs, So 100000. Sterling exchange, bank
$678, 900. Gold steady at l005s. Borrowing
rates, l1E@3 per cent. to fat. Government
bonds were firm coupons of 1881, 10924; do.
1865, new, l04;6; do. 1867, los; do. new As,
1853, HOY; ~ 40s, registered, 1865; do.
coupons, 1882; new IS, 1918: new AIS,
los; new As, lUS; currency 6s. l2019. State
bonds steady; Tennessee Is, old, 3611; Ten
nessee g., new, IS; Virginia 6s, old, 20;
Virginia U.s. rev, 20; Missouri IS, 107.
Railroad bonds were generally strong. Stocks
were heavy and lower in the morning, but
were strong during the afternoon, and
closed at about the best figure of the day
Transactions aggregated $4,000 shares, of
which 1000 were Erie, $4,000 Lake Shore,
10000 Northwestern common aud $500 pre-
ferred, $4,000 st. Paul common and 1900 pre-
ferred 10000 Llckawanna, 5000 Western
Union, ii 900 Pacific Mail. Closing prices:
Western Union telegraph company, 8455s;
Quicksilver, 1884, Quicksilver preferred, 81;
Pacific Mail, 1874 Mariposa, 1Ol; Maripo-
sa preferred, 10I; Adams Express compa-
ny, 1929; Wells & Fargo Express COM
pany, 9319; American Express company, 48;
United States Express company, Az; New
York Central. 1875; Erie. 1873; Erie
preferred, 800: Harlem, 30; Michigan
Central 67li; Panama, %; Union Pacific
stock, $50; Lake Shore, SO; Illinois Gen.
trail, S31S; Cleveland and Pittsburg, 70;
Northwestern, 461S; Northwestern pre-
ferced, 70aI Cleveland, Columbus, Gin
cinuati and Indianapolis 81 New Jersey Gem
trail, 81: Rock Island IS16; st. PAM. 49,;
st. Paul preferred, ISL Wabash, 1924; Fort
Wayne, SO; ~Terre Haute, l02; Terre
Ha1te preferred, ITO; Chicago and Alton,
1885; Chicago and Alton preferred, 100;
Ohio and Miss issippi, 108; Delaware, Lack
awanna and Western, So; Atlanta and Pa
ci6c telegraph, 241S; Missouri Pacific, 10l;
Chicago, Burlington and Quincy, 1861;
Hannibal and st. Joe, 11l4; Central Pacif;
bonds, l0S; Union PacIIc bonds, l0S;
Union Pacific land grants, los; Union Pa
ei6c sinking funds, 1929.