Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1881-07-20
COMMERCIAL.
PUBLIC LHDGEG OFFICE,
NHEPH1e, Tenn, July 20, 1881,

The value Of silver in London at
present is Sid, and this makes the
American standard dollar worth in
that market about 85S cents. The
highest price reached in London dur
ing the past six months has been 52Bd,
and the lowest Sid. In New York
silver bars are worth Ill to liz per
ounce; Mexican silver dollars, 81 to
800; French five francs, 90 to 9jc;
U. S. trade dollars, 99f to 995d; Eng
fish sovereigns, 493 to 487; French
Napoleons, 483 to 487; Spanish and
Mexican doubloons, $3.50 to 1875.
The latest railway earning reports
gives the Louisville and Nashville
company gross figures to the first
week in July, the total from January
1881, being 1929, POS, against So, $751;
98l last year. The M. and c., same
time, sums up $599,028, against S508,-
s87. The NJ. and P. to third week in
June. S1O8,068, against $9l ,235. The
Nashville, Chattanooga and st. Louis,
to May, s924,674, against $88O,55O
On the 10Th inst, week from Fri
\ day next, the gauge Of the track from
Cairo to New Orleans, on the c., St.
L. and N. o. railway, is to be changed
to the standard gauge, 4 feet 81 inches,
by moving the west rail in 81 inches.
The Kansas City, Fort Scott
and Gulf railway, having recently
completed line Of road in a
southeasterly direction to Springfield,
Missouri, is disposed to become a
competitor with other roads to St.
Louis in the corn carrying trade to
the South. With this object the COM
pany will extend their line to the
Mississippi by way Of Mt. Grove,
Monmouth. Springs, Spring River and
Walnut Ridge to Memphis. Anoth-
er route proposed for the same line is
through Burlington and Jasper, Mis-
so,,ri, and the northern counties OIL
Ark. 'usaw by way of Hot Springs, and
one to tbe Mississippi river.
A slip,Nt swell Of improvement is
poted IN the money market, the in
creased dem and for discounts being
a. a;ng feature. An ample sup.
rIv Of idle capital is keeping rates
STEADY at six per cent. and for some
time to come it will not be spt to ad-
vance above that figure, Money. !,
oheap and plentiful in all the financial
markets of the country, while unusual
ease is noted in foreign countries; liz
London where the bank rate OF ais
count has for many months PACK
ruled at q per cent there are pros
poets of a reduction at an early uay
The increase Of loanable funds IN
eastern markets caused by heavy July
disbursements of the United States
Government with dividends ETC., o.
railway and banking corporations, II
keeping rates easy and bankers here
way that when borrowers properly IN
dorsed can receive all the funds ID
NewYork. that they may want at cheaE
figures IL is useless to ask more t hal
& ner cent here, Exchange has ruled
steady throughout the week at par to &
discount buying on New York and Ne'
England, and ic OF on New Orleans
Drafts on New York or Western cite
are sold by the banks at 10 premium
and on New Orleans at par.
Uncurrent securities are quoted a
follows:
shelby county bonds, per cts.'".l0l @l0s-
Manhattan Bank stock. ........, .....lbg gliO-
Union and Planters Bauk stQck.....ll5 gI1V-
German National Bank stock......".sO0 q
lBanko of Commerce stock. ........"..lz0 g.
State National Bank ttock....."....ll4 gldIee
memphis gas stock............ ~ q "
lMoihpkis gas bonds per oents...., VI -
Eirst National Bank stoc k.............lg2 BID
Wsrnando Insurance Stoek..........lz5 V,oo
tNIanters Insurance stock .....,.."".l0l 9l05-
"A eutphis City Fire Genl lns......3 (9 3D.