Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1879-03-20
FINANCIAL.

The banks yesterday had a very quiet bust
outside the checking and deposit Nc. Exchange
rates az the former quotations; the demand Tor eX-
change does not equal the supply. Gas stock, Ow-
with gas IS goiT w, and advance quotations to
S2Is. but II a. Whispered that S5 can be got. The
banks received intelligence Of the failure OF another
bank IN New Orleans, the Mechanics and Traders,
capital 100000. This failure, following 50 close
ly upon the failure OF the Southern bank the day be-
fore, caused much anxiety among the business com
munity Of New Orleais, The New York ButtfttH
Here, the bullion value OF the II2I2 grains dollar
fell - S3l2 cents Il should b. remembered that,
irrespective OF the approaching settlement OF United
States four per ceat bond contracts there Is always
increased activity 10 the money market for short
time before and after the FIRST day Of april which Is
annual setJling day In pats OF New England and
the middle states. In preparing for these set
ticuary from New York. II IS also ~ be borne ia
mind that the volume OF business IS steadily IL
creasing all over tUe county, and that the ieglt-
mate demand for money IS consequently enlarged
Now that the secretary OF the treasury has formally
pledged himself TO use an his tnfiuen TO keep the
moAey marx easy Na-d ne can 90 not cnlg what he
promised I'm yesterdays letter, but can prepay called
DonI1sl, tneIe - no reason LOT SpprelenulLg
anything Ike strngency In our local market ex-
change quoted: New YORK, Il discount; all points
Orleans, Is discount, and sell on all points at par
Money SulO per emit Shelby county scrip quoted
bfI ~ tt' IN ~ sLiIs. 81 Te1nesSee
new issue, 4O04l; Mississippi and Tennessee rail-
90; Memphis gas bonds, 81. ex-coHponi fernando
Insurance stock i17' Blud City insurance II 90;
".
IBY TELEGRAPHl
PARIS March 19.-Rentes, 113f. 55c.
NEW ORLEANS March Iq.-Sght exchange on
New York at par; sterling exchange, bankers bills,
LONDON, March g. ConsoIs-money, 96 1915;
on account. g69s; Illinois Central, S3l2; Pennsyl-
yania Central, 35si Reading. l3; Erie, 25Ss; pre-
new IS, 1861; 4ls3, 1914; As 16I14.
NEW YORK. March 1Q.-MOney market active at
SAL per cent, closing ar per cent. Prime mer-
EteritnQ exchange
bankers bills steady at 4S6l5; sighi exchange on
except 1875 anu 1865 when were steady; coupons
1881, lO6; coupons 1861. l02ls; coupons 1865,
1925; new IS, l0lAi new 4is',, | AZ; new A.
i0i14; currency IS, = state bonds dqll; Loqsl-
ana eonsos 29s higher Tennessee IS old, "a Ten
80; Virginia is, new, 81; Missouri 6s, l04A.
Railroad bonds were active. stocks were weak dur
money market, and declined l492ls per cent,
NorthWestsIn common leading ln7 uOHuHdlH move
money market brought In some good buyers, and
advance of lsul1s per cent the granger and coal
shares developing the most strength. Transactions
Erie 1000 Lake shore 1000 Wabash, 80 600
Northwestern common, $500 preferred, $4,000 st.
Paul common 1900 preferred 24, 100 u Laeka-
Union, and 400 ST. Louis and san Fran
cisco The following were the closing quotations:
Quicksiiyer preferred 85; Pacific Mail, I2Ii; Mar,
posa, 3; Mauposa preferred AZ; Adams express,
5l2; Wells x FargO's express, lOyl4; American eX
press, 80. United states exoTess, 41i4i New York
Central, ll4 Erie, PALS; Erie preferred. 43l Bar
lem, l54; Michigan Ce' tral, So6s; Panama. 12S;
Union Pacific stOeK. 73; Lake Shore, I034; Illinois
Central, S0Is; Cleveland and Pittsburg 90s; North
western 55ls; Northwestern preferred, S5i5;
Cleveland, Columbus, Cincinnati and Indianapolis,
Il; New Jersey Central, 37Li; Rock Island, 100;
St Paul. 3o5s St. Paul preferred S23s; Wabash, 10;
Fort Wayne. IO5; Terre Haute, 2$4; TerTe haute
preferred, q; chicago and alton, 40; Chicago and
Alton preferred, 1OS; Ohio and Mississippi, 1O5s;
Delaware, Laekawanna and western, 46is; Atlantic
and Pacific telegraph, 81; Missouri Pacific, Ia;
Chicago. Burlington and Quincz,. II; Hannibal
and s.. Joe, ISIS; Hannibal and st. Joe preferred,
435s; Canada Southern. 6O55; Central Pacific bonds
I0SSs; Union Pacific bOnos. l0S3s; Union Pacific
land grants, Ill: Union Pacific sinking funds,
1O77g