Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1880-12-20
C0MMERCIAL.


Jun anu WAHAA ma $500 ~ ~
eral weeks, bears siens Of relaxing 70
a considerable degree. Insurance
rates continue high, but within the
past three days loans have been much
easier to negotiate than previously.
This is in part due to the heavy i'm
portation of treasure from abroad.
There arrived at New York for the
week closing Saturday the enormous
sum of Sc, ISL 400 in foreign gold, and
nearly $50, 100000 has been received
from Europe since the first Of August
last, while large consignments are under
way, With The cable daily reporting
heavy Withdrawals from the banks of
England and France for American ac-
count. The cash purchase by Jay
Gould of s2,O 900 worth of Iron
Mountain railway stock has also
helped the money market east, while
tbs prospect Of an early passage of
three per cent. funding bill by Con
gress to refund the bonds falling due
within the nett seven months is an
other prime inaueacc. The govern
ment is also preparing to pay with
out rebate s29,OO0,0OO Of interest
due on the public debt the first OF
next month, aud the disbursement Of
this large sum is likely to commence
before the close of the present week
In U market the supply Of money is
fair, and no serious %stringency is an.
ticipated, though at intervals slight,
or temporary closencss is reported.
AT present a prominent topic ia the
condition Of country store-keerers aad
their probable ability to weather the
financial season through inthe face Of
a prospective largely reduced cotton
yield. The bright promise Of a heavy
crop early in the fall caused many
radesmen to extend credits to theiI
customers, aud in some cases OVERHEAD
ing has resulted. In the face o
this, full SEVEN weeks of stormy
weather, beginning the latter part o
October has interviewed, during which
neriod we have had less than ten day,
suitable for out Of door farm work
This unfuvorable tnrn lessons thu
agriculturis,s ability to settle his store
accounts, renders collection slow anC
difficult. an cramps interior mer
chants G0ance,, SO that while NJ
serious apprehension are entertained
vet the actual condition excite
anxiety Tue assignment of Priddy 4
Co.. at Bartlett, three days ago, 70
$4,000 was The first failure OF import
al 10 be announced, andit is to b
boped it will not be succeeded b
Others. The mercantile demand 10
money in the local market meantim
/, not excessive, and commercial dis
counts CONTINUE to be quoted steady a
per cent. Our banks all being re
ported in strong CONDITION. =,
Exchange has moved Ii lber'
volume during the past week. Cott9
sales were heavy and eastern bills
Offering freely. The banks c%ontiuu
to buy at 81 so per thousand iC
straight bills on New York and Ne
England, also at SO IS per thousan
for bills carrying grace on poiats b,
yond New York. Drafts on both Ne
York and New Orleans are sold by ii
banks at par, and buying rates q
New Orleans are ic discount.
The select committee Of the defun
Freedman bank, of which Senator ]
K. Bruce is chairman, will hold
meeting within a few days to consid
the bill asking congress to appropria
a sum sufficient to reimburse 4
depositors, also to urge the passage
the bill asking the government to pu
chase the bank building opposite q
t,e.,sury department in Washingt'
civ The depositors of the brok'
concern ave already received abo
afty Der cent # their claims IN !
stallmenls,
10.