Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1879-03-21
NNIhE,.

Our banks reported a quiet day IN gen sral
business moderate si9in, Oh e2enalS ~ COMING
troublesome problem our tanks have had 10 con-
tenu Win y Nnat 70 ~ WIN VIC - az! , ~
been resorted To- that some employmeut might be
ton was the panic and suspension Of currency pay
ments by the banks Of New Orleans. The general
idea among our merchants appeared to be that the
difficulty originated In local circumstances and the
trouble would spend iEelt whore u beg n The
Southern bank vas stopped from the CITY OF New
Orleans having gained a decision against II invOly-
ing SS 900, ana the Mechanics and Traders stopped
caused by the southern banks failure was too much
for. The third day. yesterday, eaDe general rush,
ana the banks SUSPENDED currency payments In self
defense The 81 Louis Republican, OF We'd ~
says: 1T was noted, something like two weel sgo,
that there had been s0m- stifening In the loa mar
ket, and this week there has been a still JTtheI
tendency that way Yesterday especially, ths-e va
aver active inquiry Tor call money on marx stat
colaterals, ana II Is pretty we'll determine u
some local borrowers, VINO have been aceommc f9
In New York on call have been required 10 pa', tu
direct result OF which Is brisk hustling arouu
here 20 get loans rom local banks. The New YORK
banks evidently gathering 10 their resources as
conservative prscautlon against the first OF April
settlements, and the chances are that the mon'y
thirty days a. least" Ia our cal market
change quoted: New YORK, Il discount; ali points
ln New Engiand. van grace. . Glscouhti rev
Orleans, u discount, and sell on all points at par
MONEY ~ ~ per enti smelly county scrip quoted
phis gas stock, 80, now asking S2l2; Tennessee
new issue, 4OD4l; mississippi ana Iehhessee IalI'
waJ nrst-mortgdee ponds. il0i secOnl MORTGAGE,
80; Memphis gas bonds, 81. ex-coupOn; Hernando
Insurance stock, III. Bun City Insurance, OF,
Home Insurance, 40
LBR TELBGRAPH.l
PARIS. March 20 Rentes, 1I4f 7Is3.
NEW ORLEANS, March 20 Sight exchange on
New Yo,k at par steIllrg exchange bankers bills
LONDON, March 90 Consols-money, 81 1-16;
Illinois Central. 80; PENNSYLVANIA Central S5S4;
1857, 1884; IO-iOs, IOjs4; %, IO6Ss; 4I2s,
lO7ls IS, 1Ou4.
NEW YORK, March 2O-Money market active at
a a ant oil fraFal4r af MARI
mercantile paper, 4 as per cent sterling exchange
bankers bills unsettled, 4S6l4; sight exchange on
New York. 4Sg. Government bonds closed hrm; cou-
pons 1881, lOBls; coupons 1857, lO2ls; coupons
1858 l0212; new IS, 104l4 new 4l2s, Il Ala new
IOIss currs ncy rs, I2II2 State bonds dull Tennes
see 6s, old 3d. Tennessee Bs new, 21S4; virginia 6s,
old. 81; Virginia Us, new, 81; Missouri Us, lO4l2.
Railroad bonds active Stocks were irregular in the
early dealings, bat during the AFTERNOON an advance
OF 3ls6353 per ceut was established, Northwestern
common leading the upward movement. Erie de-
cllned 10 consequences OF reports that me company
intended 10 issue loan, but these being denied
o1iclalY by President JewetC the stock recovered.
western Union was strong though in the final deal
ings there was a reaction of isu5s per cent. from
the highest point Coal stocks we're strong, Trans
600 were Erie. 5000 Lake Shore, 10000 Wabash,
25OoO Northwestern common. 10000 preferred,
New Jersey Central, 5000 Michigan Central, $4,000
Western Union, and 1000 ST. Louis and san Fran
CISCO. This following were the closing quotations:
I2Ia; Quicksilver preferred, Boss Pacific Mall 125s;
Marposa. 3 Mariposa prefeueO,4ls: Adams express,
5l4; Wells & FaTgOs express, ggl2; American ex
press 4SIa. United States express, 47l2; New York
Central, ia; Erie. 24ls; ETe preferred 431s: har-
lem, $50; Michigan Ger trail -; Panama, 12S;
luton Pacific stock 1914; Lake Shore, 1855 Illinois
Central, S07s; Cleveland aud PttsbuTg. g0l2; North
western 34lS: Northwestern preferred, S5l2;
Cleveland Columbus, Cincinnati and Indianapolis,
Al; New Jersey Central BIS; Rock Island, l24Is;
st. Paul, s st. Paul preferred S2I; wabash, 1915
Fort Wayne, i05Ia; TerTe Haute, Z34; TeTre HauIe
preferred, 81 Chicago and Alton, 1879; Chicag1 and
Alton preferred, IOS: Ohio and Mississippi, 1Ol2;
Delaware, Lackawanna and Western, As; Atlantic
and Pacinc telegraph, 36li eLdiv.; Missouri Pacific.
Chicago Burlington and i HANNIBAL
ana ST. Joe, 10; Hannibal and St Joe preferred,
43I5; Canada Southern, 6lSi; Central ciiic bonds
IOS3s; Union Pacific bOnds. 10Sla; UliOn Pacific
land giants. 1I2lsi Union Pacific sinking funds,
l0S.