Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1879-06-10
FINANCIAL.

The past week has exhibited no changes In
financial matters. The prevailing feature
has been a subsistence into that dizziness that
will last cd to September. Little cotton is
selling, and the supply of exchange has be-
come small, with only slight demand.
Money plentiful, but held more firmly IN
consequence of the upward tendency OF
merchandise and the prospects OF more act
i've trade. Government four per cents can
be had 1t New FORK quotations. yesterday
they were sold at 1929. The volume OF trade
in other branches Of business does not show
as much shrinkage as would be indicated by
that at banks but the method of conducting
trade will in part answer for this, merchants
usually buying only what Is needed tor cur
rent trade, and in many instances paying
cash for their purchases, which Goes
not make it necessary TO deai
with bankers as frequently as
than it was week ago; the speculative adj
vance was too rapid, but the price Is still heid
at gain over the quotations OF the last few
montns. The alleged reasons for the rise
have been the demand for China, Mexican
dollars being relatively higher than bars, the
growing belief that the German government
have decided to suspend ssles; for the pres
ent at least, and the lessened production OF
the american mines. The New York Times,
of Friday, reports: "The following were the
rates of domestic exchange On New York at
the aforementioned cities to-day: Sayan-
nah=-sellIng, 5-l6; buying nominal, 10.
Charleston nothing dong; buying, 3'16;
selling, 4. New Orleans-commercial, Is
premium; bank d premium. St. Louis par.
Chicago hrmer; buying, liz discount; sell,
ing, ITO premium. Boston-sd discount.
Exchange was quoted In cur market: New
York sight, buying par, and selling a pre-
MUM; all points IN New England, demand
par; sight, "A discount, selling II premium;
New Orleans, Il discount buying, and selling
at par. Money 6@S per cent. Shelby county
scrip quoted SO buying, $3.50 selling. Mem
phis gas stock, 80; Tennessee, new issue, 80
@25; Mississippi and Tennessee railway first
mortgage ponds, Us; second mortgage, "a;
Memphis gas bonds, So.
IBY TELEGRAPH
PARIS, June 5-itentes, Il6f. 95c,
NEW ORLEANS, June 9.-Sight ex-
change on New York, Il premium; sterling
exchange, bankers bills, 1881.
LONDON, June 9.-Consols, for money,
81 ,7-I6; Illinois Central, 90; Pennsylvania
Central, 3S14 Reading, 2018; Eric, So9aj
preferred, 81; new IS, 1886 41ss, 1883;
As, los.
NEW YORK, June o. Money market
394 per cent. Prime mercantile paper, 81 @
5 per cent. Sterling exchange-bankers' billa
steady at 1873; sight exchange on New
York, 48915. Government bonds strong;
coupons OF 1881, 1925; new IS, 1885 :;
new AIS, 1868; new IS, lDc4; currency rs,
I21A. State securities dull; Tennessee Is, Old
"a; Tennessee 6s, new, 31;lVirginia 6s, old,
3I1l; Virginia IS, new, 80: Missouri IS, 1918
"a alroad bonds firm. The stock market was
generally sttoEg throughout the day. Ii
early dealings speculation T2e suite active,
and prices advanced a @2fe, the isttet
Cleveland, Columbus, Cincinnati and Indian
| apolis. During the afternoon the market be-
came dull, but continued firm to the close,
except for coal shares, TAiea wee ghghtiY
depressed and showed decline OF 1E@I4
Morris & Essex excepted, the latter advanc-
ing IS. Western Union sold up from Il312
to ISL. but reactcG 10 ll4SsS Wabash was
| from 365s to 9s. closing at a714 Transaction
aggregated 156 900 shares, OF which 81 wv
were Erie common. 1000 preferred, 4OOC
| Lake Shore, HOO Wabash, $4,000 North
| gestexn COMMON, 5000 preferred, 10000 st
Paul common, a5GG preferred, 5000 Lacka'
wanna, 1900 Newt ersey Sentral, 23O0 MlchI'
gan Central, 1000 Hannibal and st; Joseph
15Ge Western Union, 5000 Pacific NAL NAL
5000 tlo4isVV:!lle and Nashville, 5OVS
GG0O Nashville, Chattanooga and ST., t.ouls
| The dosing quotations were as follows
| Western Union telegraph, ll43s; quick
silver, l51&; Quicksilver preferred, 80; "a
| clfc Mail, 1873: Marlposa, o94; MaIlposi
preferred, z; Adams express, 1883; Well
& Fargo's express, 50; American express
4615; United States express, 475s;. New
York Central, 11919; Erie, 2o18; Ere pre-
tered, SO; Harlem, l69; Michigan Cen
trail, 77B; Panama, l48; Onioa FaciE5
stock, 741z; Lake Shore, 751 &; Illinois Cen
trail, So; Cleveland and Pittsburg, 964
Northwestern, 6494 Northwestern preferred
9615; Cleveland, Columbus, Cincinnati an
Indianapolis, 81; New Jersey Central
5l1%; Rock Island, 1881; st. Paul, 5l1a; 81
Paul preferred, sos; Wabash, 575s; 30:
Wayne, 1925 offered; Terre Haute, II
offered; Terre 'aaqte preferred, 20; Chicag
and Alton, 82S4; Chicago ana Alton Pr;
ferred, Ill; Ohio and Mississippi, Is; Dela
ware. Lackawanna and Western, $50
Atlantic and Pacific telegraph, 405s; Chicago
Burlington and Quincy, 11514; Hannibal an
st. Joe, 2l5a; Hannibal and st. Joe preferred
S3s4; Canada Southern, 565s; LOui
VILE and Nashville, s5lt.; Kansas Pi
ciic, "a; Kansas and Texas, II; st. Lou
, and San Francisco, 90; st. Louis and 81
Francisco preferred, l015; st. LOUIS and So
) Francisco hrsts, preferred, 321s; st. Loul
Kansas City and NortherB, 10; st, Loui
Kansas CITY and Northern preferred, 401!
Central Pacific bonds, 124; Union Paclt
4 bonds, 1925 Union Pacific land grant
+, 1l34; Union Pacific sinking funds, lax