Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1881-02-22
COMMERCIAL.
PUBLIC LEDGER OFPTOR,
- m-- D.k-,u-- % 100


MEMPHIS. tenn, February %, 1881.
The money markets eastward were
in a feverish state yesterday and to-
day, according to Geographic accounts.
The cause assigned is that various
leading banks are Withdrawing their
circulation, owing to the new funding
bill not s~uiting their ideas in the
shape il has just passed through con-
gress. A three per cent bond is re-
garded with disfavor by many, while
others think it is enough. There are
rival interests at work among the
leading bankers, and the probabilities
are that the present furry in stocks
and finances will be merely tempo
rary. If a three per cent bond cannot
be hoated at par by the govern
ment it will soon be known,
and the new funding law
may either be repealed, or the bonds
sold for what they may be worth on
the market. The credit ofthe nation
is better than any of the monetary
corporations of the country, banks in
cluded, and if the United States can
mot borrow money at three per cent,
nobody can. The local money market
is very quiet. Loanable funds are in
liberal supply, and solvent borrowers
are scarce. Mercantile paper is in re-
ouest at 6 to 8 per cent. Exchange is
in fair Offering with rates unaltered at
par to &c discount buying for eastern
cotton bills, and 4c premium selling
for checks on New York, while at New
Orleans they are sold at par. Buying
rates on New Orleans are ic discount
General Trade.
The disturbed condition Of the
meat market is tue leading topic in
grocery circles. 1t dropped &c per ID
Yesterday in leading supply. markets,
and quotations are in a very irregular
state. Efforts to check importatlons
of American meat in France and Ger
many and the charge that meat sent
abroad was fattened with strychnine
,or is otherwise diseased is given as
the leading cause of the sudden drop
in values. Prices closed dull in vests
ern markets last evening. An active
movement progresses In grain, and
values are well sustained. Bran is
higher. Oats firm, and corn steady
Hay is very scarce, with little in the
hands of second dealers, and consider
able inquiry for western. Poultry and
ergs are easier. No change Of impor-
tanee is noted in breadstufs. except
uness in meal. The bright sun.
H. yesterday and to-day brought
ts of people, many Of whom
49, 2. housed up for several
moth. ,''' s. 'sagerR have crowded the
.tvoo| Qsiness rules brisk in
,"n.o~1 anu g .h's increAaed number
Of visitors from the interior and the
valleys. A con, %Sanoe u oiea'
weather will start garG ~ef'' oOS:on
and corn planters into ACT. ' c g. WV
before the close of the present TeeA'
The roads and ground arc dryIrg
FLOUR-Steady iobbing demand Tor
medium and choice; round lots are rs FOL
lows: XXX, "a so; family, s5sb 20
choice, IS SOFAS IS; fancy, S. 7596 Ol
patents, So 50@7 90; small orders lOc
GORNMEAL - NJ arket quiet, at
81 9 10 81 IS per Dbl 1 rom the mills, and
81 So TO arrive; 81 so in lois for fresh
ground not guaranee ] small orders a
shade higher.
CORN-Liberal salo at $40 Doc per
bushel for shelled and ear corn on OF
ders, 5000 per bushel.
OATS-Firm, scarce and in brisk ue-
mand at 45c by the car load and 40 20
Soc on orders; .black sc ed, AZ to DC IN
lots and on orders; red rust proof, 70 70
Zoe.
BRAN-Scarce and fin n, at SIS WPer