Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1879-03-04
FINANCIAL.

| During the lat week not an incident &C.
Cured OF any interest IN the monetary situation The
supply Of exchange was liberal, owing 70 a ialr de-
gree OF business ia the cotton marked Money still
remains uTug, the calls for Il being few and slight
nessee ne" issue has attracted attention week
aEu, 40 IL and ~ cents got for IT, now 81 and
~ Is the pest ~ VIII 6ring Under present ercum-
| stances nothing Is doing In city securities Like
ourselves, the NeT Orleans Picdtfne plains that
business among the banks is staRnant. and money
- .'e teu IN Io4f pr cents Tor want OF means ~
emp ~ H. The New lOrG T1fleS, hOTeT r, mentions
~ 'N!estsen 'l-lhdnd the rate going Gp 20 SIX peI
.r'll lll aod. he inquiry foT cdlI loans nes
been cOmDaTalye!y large duriug the past few days,
/ o % the banks and financial Institutions geuer-
| ally have less difficulty tnan heTetoioFe u
| finding employment for their surplus funds,
| aud at more remuneratlye prices This
| statement Is decidedly more favorable. The New
| York HsTuLd o. Saturday. says The rates OF e1-
/ were as Toll Tvs. Savannah easy, buying at par,
| selling Il premium; Charleston easy COED demand
SS ns g fq btnS S paP f. LOUIS TO discount
| Chicago. 10 discount buying lilo premium sell
| Ing: Boston, shilling per 5000 discount " In our
| .Ocd market exchange quoted: New York. Il dis
| count: all points N New England, With grace rs
| discount; New Orleans, Il discount and sell ali
points at par Money Sd 10 per ent. Shelby county
GRIP quoted s2IS3 buying 80 selling. Last sales
sue, 46I4i MiSsissippI and tennessee railway
nrst-mougage bonds; 10; seoond mortgage, 90
III; BiuG City Insurance, II so.
by TELEGRAPH7
PARIS, March 3-Rentes, II2f. 77I2c.
= NEW ORLEANS, March d Sight exchange on
1856 - O'--''>''' ''''7'
LONDON. March 3.-Consols-money, % 7-l6;
account, s6l2; Illinois Central 50; Pennsylvania
Central, 80; Reading, 1914; Erie, 25l2 preferred,
20; Dos OF 1867, 1884; lO-4Os, lO4l2; new 5s.
lO6S4 4l2s, lO25s.
NEW YORK, March 3.-Money market active, 36
4 per cent. Prime mercantile paper, 315 per cert.
stering exchange bankers bills strong 4S6Is; New
York sigh, 48Pl2. Government bonds generally
firm; coupons 1881. l065s; coupons 1867, 1O2;
coupons 1868, lO2Ss; new 5s l04b5; new 4l2s,
4Os. coupons, i02I4; currency IS, 1874 Stafe
bonds dull; Tennessee IS, old, big; Ten
Virginia es new. %: Missouri IS, 104.
Railroad bonds were active and Irregular. Cieye-
Wabash we're weak ana loSer, while Jersey Central
and Rio tiranre, and Missouri. Kansas and Texas
we're strong and higher. Stocks wsre Irregular in
the early dealings, but during the afternoon the
market developed great strength, and under active
buying Tor both long ana snort account sharp ad-
vance was recorded. Tine improvement ranged from
" to s per cent from the lowest point of the day.
western Union leadi' the upward movement. The
stock, after frequent fluctuations sold up from
lOlH to 1913, the highest point ever reached Coal
stocks were conspicuous In The advance, and large
transactions took place in Delaware, Lackawanna
anu Western ana New Jersey Central. Granger
shares also developed considerable buoyancy, and
the dealings were char icte ICED by much animation
at intervals. Trunk lines shares were we'll sustained
throughout, especially Lake Shore, which
rhe harmonious railroad nesting at the close
OF differences helped To strengthen the trunk lines
The advance in coal stocks partly based on the
regions for last week amounted to 335,5SO tons,
against 22S 49a tons week last year; the total
amount received thus far this year Is 2,6O4,g9l
tons against /. $50 26q tons to same time in 1878.
Tue sharp rise IN these shares caught many opera
tors short. and there great scramble for them;
In The closing dealings Erie was firmly held, and
advanced despite the persistent attacks OF The bears.
IL IS aid that the Northwestern pool on Saturday
transferred their sixty thousand shares OF common
stock into thOusandShare certificates and locked
them up Thy were oil p i'd Tor there was d report
ths afternoon that the treasury and bankers In the
interest had made some arrangement respecting
set lement for the four percent bonds, which will
pro ect the money market from disturb incs. Trans
actions aggregated 273,0OJ shaTeS OF which $4,000
Erie. % 900 Lake Shore, $500 Wabash 35,-
900 NUIthwt stern common, 24.0O0 NoTthweser n
prrf- rTeJ, 1000 st. aul common IL 900 It Pa1l
preferred. $4,000 Delaware, Ldcsawanna and West
err, 1900 New Jersey ntTal, 1000 Morris az rs
sex, 5000 Michigan entr /, 24O0 Enon Pac fc,
1000 ST. Joes, 5000 ObiOs. ana 70 0O0 Western
Union. Tue closing quotations We're as follows:
Western Union reiegrap 1879; Gu ckSilYer. II;
Quicksilver preferred, 33; Pacific Nail, 20; Mari
lO5Is; Wells i FargOs express, 9S; american ex
PIE IS, 4G33 UEtfed states express, ASIA New York
Central, .; Erie, 20l2 EIie prefened, AIS; baT-
lem, 1913; Michigan Go trail, S15S; Panama. 100;
Uuun Pacific stock 1879; Lake Store, 7lSi; Illinois
Central, 81; Cleveland and PtttsbuIg. 1891; North
western, 535S; Northwestern preferred, S6IS;
Cleveland Columbus, Cincinnati ana Indianapolis,
IL; NeG Jersey Central 31li; Rock Island, 2S12;
st Paul 81; st. Paul prefeTren, SO34; Wabash 2 Ia
HOrt Wayne, 1O5I5. TerTe Haute, 2; Terre Hauie
Alton prefer ed, 1O6ll; Ohio and Mississippi. Ia
Delaware, LackaWdnua and Western, 46lj; Atlantic
and Pacllc telegraph, IS; Missouri Pacific. "A;
Chicago. Burlington ana Quincy, 1874; Hannibal
81. Joe, I4S4: Hannibal and ST. joe preferred,
4Z@4; Canada southern. $685. central Pacific bonds,
lOA; Union Pacific bonds, l0gls; Union Pacific
IaHd grants, 1l2I2; Union Pacific sinking funds,
10g.