Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1879-06-17
FINANCIAL,

In financial matters during the last week
there was only dullnsss and an entire Alb
sencs of any feature of interest. The stag
nation of the cotton market restricts ex
changes to very small offerings, and there is
little demand. The local market has few
transactions; M0mphIs gas stock IS offered at
80 and 81 with no takers although dividend
day is nigh; Mississippi and TennsssSe bonds
arc readily taken at quotations. There has
been an active demand for four per cents at
103, for small amounts l031. New York
papers state: The bill authorizing the treas
ury to pay lawful money IN exchange for
subsidiary silver coin, and making such coin
a legal tender to the amount of SO, having
been signed by Mr.. Hayes, is now a law, and
bsnceforth persons receiving more small all
yer than they can conveniently make use of
will not be compelled to sell 1t at discount,
but need only take or send it to ths United
States treasury to get for it RreeAbaeks or
large coin at par. The secretary of the
treasury is now having prepared regulations
for the redemption of fractional silver In
accordance with the act. Tue silver will be
redeemed IN sums of $50 by the treasurer Of
the United States, or any assistant treasurer,
at the risk and expense of the
sender. No light or mutllated com will
be redeemed. All coins must be put in
rolls by denominations. 1t has Aot yet besn
decided whether the REDEEM ptioa will be made
in greenbackS or standard dellarV. Exchange
was quoted in our market: New York sight,
| buying par. and selling a premium; all
points in Now England, demand par; sight,
| Il discount, selling Il premiumj New Or
LEAFS, d discount buying, and selling at par.
| Money Gas per cent. Shelby county scrip
! quoted 60 buying, 90 selling. Memphis aSs
stock, nomiRally 30; Tennessee, new issue, 80
! @35; Mississippi and Tennessee railway first
mortgage bonds, u.s. second mortgage, g.;
Memphis gas bonds. So.
IBY TELEGRAPH
PARIS, June 16.-Rsntes, 116l. 6211c.
NEW ORLEANS. June 16.-Sight ex-
change on New York, 4 premium; sterling
exchange, baAkers' bills, 4SS1s.
LONDON, Junel6.- ,971- 16@97H
Illinois Central, 8975; Pennsylvania Central,
394 Erie, % 4 preferred, So; new IS, 1855
AS, l0S4; Is, 104,
NEW YORK, June 16.-Morsy easy. $685.
per cent. Prime mercantile paper, $500 per
csat. Sterling exchange-ba4ksrs' bills doll,
1913; sight exchange on New York, 1864
Government bonds steady; coupons of 1881,
1925; new So, 1885; nav AS, 1853; new
A., 1925 currency Is, l2l15. State securities
dull; Tennessee 6s, old, "a; Tennessee
Sc, new, 81; Virginia Ga, old, 3O15
Virginia o., sew, 80; Missouri 6s, 1o7A
Riilroad bonds firm. Ne sales of the Column
bus, Chicago and Indiana Central issue to-
day. Stock speculRtons were firm at the
| opening, and prices advanced 4@116, the
lattor Michigan Central subsequently this
stock became weak and fell of per cent,
| the general list losing portion of the early
| Improvement. During the afternoon the
market developed considerable strength, par
| ticularly for coal aRd granger stocks, and
an Improvement Of 4@1B from the lowest
point was established, which was generally
maintained to the elose, except for trunk line
ahares, which wore depressed, and reacted
26@I per cent. Nashville, Chattanooga and
81. Louis rose from 401k to 4216. TraHs-
actions aggregated $4,000 shares, of which
5000 were Erie, 1900 Lake Shore, l6,O0C
Northwestern common, 1000 preferred
1900 st. Paul common, 60O0 preferred
1900 Lackawanna, "a 600 New Jersey Cen
trail, 1000 Michigan Central, 10000 Unior
Western Union, 1900 Louisville and Nash
vile, 1000 Kansas City and Northern, l10I
Nashville, CHATTANOOGA and st. Louis, 1906
Kansas and Texas. Closing quotations were
Western Union telegraph, ll41s; Quick
silver, l5lt; Quicksilver preferred, 3834; Pa
olic Mail, 1915; Mariposa, SO; Mariposa
preferred, Sd Adams express, I06; Wells
& FarGos express, SO; American express
AN; United States express, 4615; New
prefsrred 81; Harlem, l56 ex-div; Michigan
Central, IN offered; Panama, 149; Union
Pacific stock, ISL; Lake Shore, 7511; Hi.
aois Central, S73.; Cleveland aAd PittsburK
SO; Northwestern, 671k; Northwestern pre-
ferred, 971s offered; Cleveland, Columbus
Cincinnati and Indianapolis, 5014 New Jer
sey Central 5432; Rock Island, l39; st. Paul
5415; st. Paul preferred, 93A; Wabash
36li; Fort Wayne, 100 offered; Terre Haute
! l0l4 offered; Terre Haute preferred, 20; Chi
cago and Alton, 92j Chicago and Alton pre-