Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1882-10-09
COMMERCIAL.
PUBLIC LEDGER 0vPIon
MEMPHIa. TENN. Ootnhar 9. 1892.


cotton bills during the past week,
while small in volume compared to tie
amount which will offer in the near
future, yet has contributed consider
ably toward relief from the closeness
reported heretofore. Between fifty
and sixty thousand dollars also came
upon the market during the week 10
the way of interest on Mississippi and
Tennessee 8 per cent bonds, series A,
a million in amount; $4,000 Shelby
county bonds; $25O,OOO Memphis Gas
bonds, and the government As. Inter
est rates are quoted steady at 8 per
cent.
Exchange, since the new rate went
into effect last Monday, has ruled
steady. The banks buy on New Or.
leans and New York, or New England
without grace, at $3.50 per thousand
discount, and sight or grace carrying
bills beyond New York at 10 off.
Selling rates on both New Orleans and
New York are par.
The usual public statement of the
condition of the national banks was
called for on the Sd instant. As none
had been made since June Both, last,
this call was expected last month, but
was deferred. The statement is very
favorable for the season. The surplus
fund of the three banks aggregates
$l53, 900. The loans and discounts
sum up 81, 426,386, while the cash on
hand is $780, 600, making 81, 846, 900
available on short notice, and the
entire volume Of deposits is 81 ,222, 900.
The three private banks are doubtless
equally strong. The New York banks
show decided improvement this week.
Their reserve fund has increased
$2,559,25O, and is $42l ,S25 in excess Of
legal requirements.
In uncurrent local stocks there
is but little movement. The Louis
vile and Nashville railroad hal
dropped off 7tc during the week. TIT
recent annual report was much morefa
vorablethan many capitalists expected
The Chesapeake and Ohio road hat
made a statement for August which
stimulated the value of its stocks anC
bonds. The gross earnings for Angus
was 1891, 454.42; expenses, $2OS, 500. &c
net earnings, sl72, S44 &C. An increas,
over August, 1881, in gross of $ll8,
500 70 a decrease in expenses Of Sc,
457 80, and an increase 10 net earn
ings Of 1926, 072.12.
Government bonds are quoted il
New York at 1901 for the EXTENDED
5s, 1925 for AIS, and 1lSs for As. Thil
is bc up on the latter, &c down on AIS
and Bc lower on 5s than a weel
ago. Tennessee State IS ar,
worth 50c, decline o
ic on the week, The new
compromise bonds last sold at Coo
a decline Of go from figures ruling
several weeks ago. Memphis anC
Charleston shares are 53c, Ohesapeak,
and Ohio 26c and Louisville an,
Nashville 56Bc.
New gold certificates are in circula
! ton though none have appeared here
! They are issued from the sub treas
,, ury at New York, to depositoIs Of gol,
9 coin, in sums ranging from 500 to $50
: and are similar to the silver certificate
circulating for a couple of years past
Failures last week numbered IL
and Dun's Agency reports 1897 fail
!. ures with $69, 523, Sl3 liabilities dur
| ing the 6rst nine months Of 1882
against 1890 failures, ISL ,O59,O lO liabil
tiles same time last year. Most @
the excess, they state, occurred in tn
earlier months OF the year, and the
describe the business prospects for tn
closing months o the year as general
good.