Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1879-06-08
FINANCIAL.


that no change was to De noted in the situa-
ton. Money in little request and exchange
in very slight Offering and demand. The
New York Post SAYS: "Ihe reasons assigned
for the rise in silver bullion are the demand
for China Mexican dollars being relatively
higher than bars, and the growing belief that
the German government has decided to sus-
pend sales, for the present at least. The
London Economist estimates that the German
government has a stock of not more than
gI2. OOO,0 900 to $4,000, 600 silver to dispose
of IN any event" The New York Bulletin
reports: "A leading German clearinghouse
erported $3.50 900 gold COIN. Thus opera
ton could only be profitable provided de-
nand sterling could not be bought at 1879
IA il was it eolld be bought at 40994S914,
and the 60 day bills OF the house when
shipped the gold we're offered at 48715,
which, with the present discount rate IN
London, is equivalent to about 4SS12 for
demand bills. If the operation was in
tended to affect the money market, 1t
failed. as the rates for call loans fell to
20215 per cent. at the stock exchange.
Another matter which attracted attention
20. day was news hom Washington that tue
treasury viii soon issue a circular permitting
the exchange of ten dollar certificates Tor tour
per cent bonds as early as next Monday, the
ninth, although the secretary rgreed with
the syndicate that there should be no ex-
changes until July 1st. This, If carried
iato effect, viii make the supply OF four
per cent bonds as largs before July as 1t
will be any time Ia the next two years
Exchange was quoted In our market; New
York sight, buying par, and selling q pre-
mIum: all points IN New England, demand
par; sight, n discount, selling Il premium;
New Orleans Il discount buying, and selling
at par. Money sos per cent. Shelby county
scrio quoted Sc buying, $3.50 selling. Mem
phis gas stock, 80; Tennessee, new issue, 50
(935 Mississippi and Tennessee railway hTst
mortgage bonds, us; second mortgage, "a;
Memphis gas bonds, 80.
JBY TELEGRAPHJ
PARIS, June 7.-Rentes, 116f $50.
NEW ORLEANS, June 7.-Sight ex-
change on New York, u premium; sterling
exchange, bankers bills, 1885.
LONDON, June 7.-Consols, for money,
81 7-I6: account, 81 8 16; Illinois Central, 80;
Pennsylvania Central, IS; Reading, ~;
Erie, 279s. preferred, 521s; new 5s, lO5S4;
AIS, 1895; Is, los.
NEW YORK, June Z. Money easy at
3(05 per cent, closing offered at per cent.
Prime mercantile paper, 4@5 per cent.
Sterling exchange-6ankers' bulls quiet but
firm at 48715 sight exchange on New
York, 1885, Government bonds steady;
coupons OF 1881, l07$s; new 5s, 1854;
new AS, 1868; new Is, 1925; currency 6s,
I2l. State securities quiet; Tennessee
6s, old, % offered; Tennessee Is, new,
80; Virginia Is, old, 81; Virginia
g.. new, 80: Missouri 6s, 1918.
Railroad securities strong. Stock speculation
was characterized by great irregularities.
North western shares were strong on reports
of increased earnings, and advanced Ia per
cent. on common and i per cent. on pre-
ferred ST. Paul was less active, common
rising Il and preferred declining Il per cent.
The coal shares recovered from last evenings
depression and rose 19@24 per cent, with
fractional reaction at the close. Trunk line
shares were firm, especially Erie, which adj
vanced Il per cent. on the report that James
r. Keene, who is large holder OF the stock,
will next week enter the direction or the
road. Louisville aud Nashville Tell from 55Sz
To 53J6 and recovered to IS. TRANSACTIONS
aggregated l53 900 shares, of which IL ,UO0
were q lie, 1900 Lake Shore, $500 Wabash,
$500 Northwestern, $4,000 st. Paul com.
mon, $500 preferred. $1,000 Lackawanna,
$500 New Jersey Central, 5000 Delaware and
Hudson, 1000 Michigan Central, l4O0 Han
nibal aud st. Joseph, 200 Ohlo and Mlssls-
sippi, 3l00 Western Union, $4,000 Pacific
Mail 500 Louisville and Nashville,
$4,000 Iron Mountain, 1000 st. Louis, Kansas
City and Northern common and l(OO pre-
ferred, aud 1000 Kansas and Texas.
The closing quotations were S,o as tV d'!
Western Unjoa telegraph, 1885; Quiok-
silver, 1873; Quicksilver preferred, 80; Pa
eldc Mail, 1615; Mariposa, 9; Marlposa
preferred, Z; Adams express, luo12; Wells
& Fargo's express, SO; American express,
Az; United States express, 46; New
York Central, 1l94; Erie, 275s; Erie pre-
ierred 5l24; Harlem, l59; Michigan Cen
trail, III; Panama, 148; Union Pacific
stock, 7434; Like Shore, rs; Illinois Cen
trail, $50; Cleveland and Pittsburg, 961S ;
Northwestern, GA ia; Northwestern preferred,
9516; Cleveland, Columbus, Cincinnati and
Indianapolis, 1855; New Jersey Central,
SO; Rock Island, 1884; st. Paul, 5l9s st.
Paul preferred, 904; Wabash, 364; Fort
Wayne, 100 offered; Terre HauGe,. ii
offered; Terre Haute preferred, 20; Chicago
and Alton. 821S; Chicago and Alton pre-
ferred, 1l2; Ono and Mississippi, l5l4; Della
ware, Lackawanua and Western, 5916;
Atlantic aud Pacific telegraph, 395s; Chicago
Burlington and Quincy, lis; Hannibal and
st. Joe, 201E; Hannibal and ST. Joe preferred
1885,; Canada Southern, SIS offered; Louis
Vile and Nashville, 55l4; Kansas Pa
cific, 569l: Kansas and Texas, 1415; st. Loul
and San francisco, ga; st. LOUIS and Sar
Francisco preferred, l01s; st. Louis and S9I
Francisco irsts, preferred, p; st. Louis
Kausas City aud Northern, l43s; st. Louis
Kansas CITY and Northern preferred, 4094
Central Pacific bonds, 121i; Union Pacific
bonds, II2; Union Pacihc land grants
II34; Union Pacific sinking funds, ll41s.