Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1879-03-03
COMMERCIAL.
PvBLIc LEDGER OFFICE,
Mrttpurq Morch 3 Iorr

a general improvement has takeF
place in all branches of trade, but the
financial market indicates no Increase
Money is in abundant supply, with
little or no demand among solvent
borrowers, and very few safe invest
ments offer that promise productive
returns, except government four pei
cents. A large share of the surplus
funds in the hands of capitalists here,
as well as all over the country, is being
placed in low-priced governments, and
our bankers keep round lots on hand
to supply the demand. The small
amount of commercial paper offered
finds ready takers at from 6 to 10 per
cent.
Exchange is steady, buying rates
being &c discount for sight on New
York and demand on New England,
and &c discount for sight on Fall
River and Boston. Buying rates on
New Orleans are also lc discount.
Checks on the latter point and on
New York sell at par.
Light transactions in local stocks,
bonds and securities. Gas stock shows
more'strength, ST per share being bid
for it. Gas bonds sell at Doc; new issue
Bank of Tennessee notes 35@41c;
Mississippi and Tennessee first mort
gage bonds, $1.15; do. second mortgage
bonds, soc; fernando Insurance
stock, SLY; Union and Planters
Bank, do, S1O5 per share Bluff City
Insurance, do, ST. 50 per share.
The financial condition of the rail
roads of this vicinity, or those at least
in which our people are most interest
ed, is at present as follows
The Louisville and Nashville Rail
road Company paid a dividend of S1.5O
per share the 10th of last month on its
capital stock of 80, OO3, 300. The shares
sold last week in New York at S40@.
1850 each, an advance of S5@6 per
share within a brief period. The road
has outstanding 81, 900 in c%onsoli-
dated Z per cent. bonds, worth $40,
and 100000 seconds, worth SOC.
The Memphis and Charleston rail
ROAD, 27l miles long, has stock out
standing amounting to s5,312,725. No
dividends have fallen to the lot of its
shareholders for a number of years.
1t has in first mortgage Z per cent.
bonds, due in 1880, Sl,293, 900, worth
10l on the market.
The NashYilleand Decatur railroad,
122 miles long, has stock outstanding
of 81, $4,000. Dividend last June SO
per share. 1t has of first mortgage
bonds $1,S37, 900, worth 10.
The Mississippi and Tennessee rail
road, 100 miles long, has in first mort
gage s per cents $1,000 600, worth 115,
and 81, 100, 900 second mortgage bonds,
worth 30.
The Nashville, Chattanooga and St.
Louis railroad has outstanding stock
amounting to SG,575 ,295. It paid a
dividend of 81 per share last April.
Its first mortgage bonds draw 7 per
cent. and amount to Sl,7OO,0OO, worth
99i on the market.
st. Louis and Iron Mountain rail
rOa d, 2l0 miles long, there is of stock
S2l, Al ,151 worth onithe market at
SIGH per share; also of FIRST mort
cage be- nds $1,000, 900 worth 1i0l !;
second DO, $5,927, 900 Z per cents,
worth 65f, consols, $3,3l5,OOO Z per
cents, no quotations given. OF the
Arkansas branch, 100 miles long, there
is 80, o 1000 in hrst mortgage Z per
cent. bonds, worth on the market 92s,
Silver trade dollars in the New York
market sell at 98@03i Nexicans at
S5a9S6; silver bullion in Lon@0n 5OBd
Dar ounce