Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-11-23
FINANCE AND TRADE.
FINANCE

rate demsnd and easy.
November 22d ....-S2i3927 81 2SOle OF
Thus fer this week 1870 Il 10o,s64 u
Same week last year-....-.- 1850 % 165,I5S &c
Exchange on New York buying at a discount,
selling Al par. Eastern cotton bills buying 70 per
New Orleans 4 discount buying, and par selling.
Bank stocks-Bank of Commerce, 1885, FiTst Ma
tonal, I02dll0: German National, 2OO9Z10; Man
haitian l6O9l70: state National, l229l55; Union
and Planters, I271z.
press Company. nomiRally higher, is; Memphis
Gas stock, $3.50; do bonds, 9791O0; Memphis
water Company, bonds with accrued interest. par
stock, 40; Memphis city bonds, OLD, 60; eomprO-
mise bonds, IS; coupons from Old bonds. 20; from
ments on coupons and bonds, 80; paving indebi
edness, p; shelby county memphis and Ohio
the market; Mississippi levee bonds and coupons,
District No l. lISl21zi do. scrip. I2@I21z; Bank
county tAfk.l warrants, 20; do. Desha county. O.;
do. Mississippi county. 50.
Railroad stocks-Mississippi and Tennessee. COG
%; MOBILE and ONO, 25923 Memphis and Charles
ton hrst mortgage bonds, IS, 1l2gIl6; do. second
mortgage bonds, Is Qs85l, 102glOs: do. cohs0is,
bonds, IS, lO0dII0; Mississippi and Tennesse.
eonsols, A, l27; do. B, ll0SllS.
PARIS, November 22.-Rentes, 79f. zoe.
NEW ORLEANS, November 22-Sight ex-
change on New York, psr. Sterling exchange
bankers bills, $50.
LONDON, November 22.-Consols, l0l IS
l6; account, lOl lilo: 41ks 49,; Illinois Central
49,; Pennsylvania Central, 59E; New York Cen
tral, 1872; Erie 5519; Erie seconds, $50; Reading,
257s.;
NEW YORK, November 22.-Money, GAS
per cent; closed offered rer cent. Prime nier-
camille paper, 6971z per cent. Sterling exchange
eminent bonds irregular and generally Is per
cent lower. Railroad bonds in the main higher
STATE securities neglected. The day opened with
great excitement on the stock Exchange, and deal
1n9s up 10 noon were on scale of great ma9ni-
tude, sales amounting to 10000 shares,
which hpVOud tyyO
hours business In cary transactions large
supporting ders were in the market, and timid
leading to the advance of %92L per cent. on
closing quotations Of yesterday. This sharp, rise
radical change in the temper OF Spectators, and
the bears" were soon in complete possession OF
opening threw them overheard, and large tele-
graphic orders we're received by brokers tdeen
during the morning the market was greatly de-
moralized, and the haste to dispose of stocks
in many instances. About noon Il decided change
Tor The better set in, and prices recovered 1z92
per cent There were free purchases TO cover short
contracts, and also considerable buying for in
Vestment. Some bankers received through cable
Wabash preferr.d, Denver. Central Pacific and
Louisville and Nashville. The market continued
only the early decline fully recovered, but
higher quotations than those current at the close
yesterday were established in many instances
transactions were simply enormous. and consid-
cradle excitement prevailed The advance from
lowest o
the latter for Canada Southern, which sold up TO
67A. Western Union rose ~ per cent. TO Sl5s;
Northern Pacific 70 A, preferred 25s to 81 Oregon
to ~; New YORK Central 8 TO rs; Delaware,
Lackawanna and Western 3 TO l2d15; New Jersey
Texas 31s to 3l54; Texas Pacific 81 TO S. Missouri
Pacific ~ to lO21S; Union Pacific to 1855;
Louisville and Nashville "a to 5114; Denver 81 10
4I94 st Paul and Omaha TO ~, preferred ~ to
10I34; Milwaukee and st. Paul 81 TO 103. and
Northwestern So to 1891. These were the leading
features of the market 1t appears that several
Of the prominent speculators, including some of
those VINO have lately been on the bear side Of
the account. were heavy buyers of stocks this
great many lweak holders into selling.
turn, with view of Tightening short interest
into covering, or whether they have decided to
side, time will determine. Accompanying the ad-
vance this afternoon were reports that upon the
who are now on their way to this city from the
West settlement of the existing difficulties
ties, ST. Paul and Manitoba advanced to Ill1&,
Font Worth and Denver TO S9A. Indiana, Bloom
Point terminal to %. At one time during the day
TumOrs of trouble in the trunk-lin pool were
officers of the Northern Pacific road who we're in
consultation with the land syndicate officially
ment or land Will be bought in the open market.
$4,000 shares, and that portion has been already
bought. When the full amount is obtained, 5000
shares Will be Cancelled; The stock hrm OF But
trien q altman, which suspended to-day, is ex
rules OF the exchange The members Of the firm
refused this sfteInoon to make public the reason
far suspending, but an officer of the exchange
pressed the opinion that they were loaded with
securities upon which it Is difficult TO borrow and
as the margins are very great, were unable to
affected by the suspension, 1t is thought. The
Mail and Express says: 1.-The intense depression
ana great shrinkage in values on the Stock Ex-
change this morning, after the heavy decline
which had previously taken place, naturally
formed the allabsorbing topic of discussion
in financial circles Beyond the rail-
some what local in its character and confined to
few roads, there is really nothing in the general
situation to warrant any such decline in prices
has just taken place. 1t is steel rails have de-
clIned, and this has given rise TO hue and cry
about depression in the iron trade, which, while
there may be Just for complaint of dizziness
here and there, does not generally exist. On the
other hand the traffic Of railroads is simply enor
in the history of railway system. The crops OF
1882 are unusually abundant, our exports OF pro
duce and merchandise steadily increasing, rates Of
sterling exchange nearly down to specific i'm
por, Ing point, and the general business of the
country Is prosperous and healthy. The influence
of these favorable factors will be felt when the
people shall have recovered from their present
sea re and decentralization for which good reason
exists AIready investors are coming into the
market, and to day a number of commission bro
kers were buying dividend stocks for people who
pay for aud put them in tin boxes. In no quarter
is there any prospect of reduction OF dividends,
but on the contrary, the prospects in favor OF
an increase in dividends in the future Mis-
souri, Pacific, Union Pacific and Western Union
are among the companies mentioned as likely to
adopt this.poliey.
The COMMERCIAL Bulletin says: "At the opening
the market showed an improved tone on informa-
ton that several of the large speculators includ-
ing Keene, had met the previous evening and de-
cided on purchasing stock. 1t was sooa discov-
cred however that that gentleman was selling in
stead of buy ing and the result was rush OF orders
to part with stocks, which completely demorallzed
the market, the disposition to sell being further
increased by the sale of long stocks particularly
Michigan Central" Closing quotations: