Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-09-27
FINANCE AND TRADE.
FINANCE.
Money rules at s per cent. with moderate

Same week last year........ AS, ss3 So So S22 u
Exchange on New York ard principal
Eastern points, at par; discount on three
| days, and ! premium selling; and exchange
on New o rleans ! discount buying, and par
| selling,
Bank stocks-Bank of Commerce, 1875;
First National, I02d,I10; German National,
2O092I0; Manhattan, 1609170; State Ma
tional, 1229l55; Union and Planters, l25.
Insurance atocks-Bluff City, 95; Her
nsndo, 1873; Home, so refused; Memphis
City, SO; Peoples, S4(9S6; Phoenix, SS(992;
Planters, us.
Railroad stocks-Mississippi and Tsnnes-
see, 60965; Mobile and Ohio, 27(928; Mem
phis and Charleston first mortgage bonds. Is,
ll291I6; do second mortgage bonds, 7s,
(1885J, 102 910S; do. eonsols, ll2; Memphis
and Little Rock first mortgage bonds, IS, 100
@1IO; Mississippi and Tennessee consols A,
~; do. b, 110@1l3.
Miscellaneous Merchant Storage and
Compress Company, 125; Memphis gas stock,
1890; do. bonds, 97GB100; Memphis Water
Company, boDds with accrued interest, par;
stock, 10; Memphis City bonds, old, 80;
compromise bonds, 5S; coupons from old
bonds, 30; from compromise bord-, so; ledger
balances, %; judgments on coupons and
bonds 80; paving Indebtedness, %; Shelby
county memphis and OHIO railroad) 6s, SO;
warrants, 989l00 bid-none On the market;
ml-slshlppl IeVee DOEus ana coupons Dls-
trict No. ], l19124; do. scrip, l2(0l23;
Back OF Tennessee notes, new issue, S5945;
Cri4enden county (Ark.) warrants, 20; do.
Deshz county, 81; do. Mississippi county, so.
PARIS, September 26.-Rentes, SIT 1Oc.
NEW ORLEANS, September 26.-Sight ex-
change on New York, nominal. Sterling ex-
chapse-bankers' bills, 48l.
LONDON, September 26.-Consols, 100 s.
l.
Central, 1434; nnsylvania Central, GOT;
New York Central, 39l; Erie, 49,; Reading,
32s.
NEW YORK, September 26.-Money, 6 per
cent. per annum, closing at 2(93 per cent.
Prime mercantile paper not quoted; sales
stopped by manipulation of the money
market. Sterling exchsnge-bznkers' bills
steady, 1921; demand, 1911. Government
bonds irregular, but In The main ! per cent
lower. Railroad bond. irregular and sener-
ally lower. State securities neglected. The
whole course of prices and speenlation at
the Stock Exchange turned to-day on the
money market. The day opened with a
clique of stock jobbers, who yesterday ran up
rates for money, in apparent control. They
started the rate tor call loans on stocks Gt 10
per cent. per annum and ran it up 20 per
cent, and made a few loans among them
selves at Lie OF per cent. per day, plus
per cent. per annum. During this time
stocks and bonds declined. Mercantile paper
was unstable, and a very unsettled and APP
prehensive feeling prevailed. About noon
Secretary Folger visited the sub-treasury.
He was there waited upon By representative
business men, who told him about the situs-
ton, when he promptly sent the following |
order to Mr.. New, who is acting secretary |
during his absence:
NEW YORK, September rs, 1882
To the Hon. John G New, Acting Secretary of the |
Treasury, Washington, ID. C.
The rate for mercantile paper is such that the |
government should at once release money from |
The treasury Order the Assistant Treasurer here
to anticipate the payment of any called bonds |
without rebate of interest at the rate OF s. OOOO
per week until otherwise directed, beginning |
Wedu esday the 9th; bonds to be paid at his |
office. will send letter also.
CHARLES J. FOLGER.
Secretary OF the treasury.
This order became known a little after l |
o'clock, and the whole situation changed |
Rates for money took
plunge downward, leading off for call loans
on stocks at 1904 per cent. per annum
money was lent below per cent,
except for effect, mercantile paper which |
had been unstable, was fsvorably affected, |
and in a comprehensive word the whole tone
changed from apprehension and distrnst 10
confidence. Transactions aggregated 1885,
600 shares