Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-01-26
FINANCE AND TRADE.
FINANCE.

FINANCE.
Business is still quiet with the money
dealers There was some inquiry yesterday
for old city bonds, and transactions reported
at 81. Money Gas per cent. discount: tx
change on New York and principal Eastern
! points ! discount buying; / discount on
I day-, and : premium selling; and exchange
| on New Orleans / discount buying, and par
| selling. Bank stocks are quoted as fol-
| lows Bank Of Commerce. 100; Union
and Planters, I25; State National, I20;
German National, 205ta 30. Insurance
stocks-Home Insurance Company OF Mem
phis, so; Bluff City, $1,000; Peoples, 94CG96;
| Planters, l05; Phoenix, S0GS2; fernando,
II5@1I7l; Memphis City, s3SS5. Other
stocks and bonds rule at the following quo
tations: Shelby county bonds, per cents,
IOIG,IO2; City compromise bonds, undisBut-
ed. 60G62l; tainted, 4O(a,45; past-due cou-
pons from undisputed bonds, 80; from faint
ed, $1,000; old bonds, 30G33. ledger bal
ances and Nicolson paving scrip, 25(926.
Memphis gas stock. 1900; do. bonds, $50
So. Mississippi levee scrip or coupons Of
District Ne. /, HOP. Mississippi and Ten
uessee stock, IS; first mortgage bonds, $780,
do. second mortgage bonds, l1SC912O. Mem
phis and Little Rock first mortgage bonds,
ll0G9lI2. Memphis and Charleston consols,
MEMPHIS BANK CLEARINGs.
,.,. .. clsa n gss g, E = a9e s
Thus far this week; i9l S7s q 1858 g
Same time last week.. 4l50s4 62 2ss ca
Same time last year.......-. 1921 63 30 sl,s22 .
The New York Indicator, OF Monday, dis
cussiug the New York bank statement of the
previous week. says: "A total surplus of
S9,674,37 over Liabilities is a strong presen-
taiiou Of the recuperative power Of the banks.
At the close Of last year the surplus had de-
Glued below the legal line, but since the first
week in the new year the banks have rapidly
fortified their position until, notwithstanding
an increase in deposits OF So, Jos, 200, the
total reserve has grown in more rapid ratio,
and il now Sl394S,900 in advance of the
statement of December 3Ist. OF the increase
in reserves SlI ISL 500 is in specie, which
still further illustrates the power OF the banks
to draw gold to their vaults when really re-
auired The statement is the most encouraging
as to strength and stability OF banks of this
city made since the first quarter of 1881. The
business of the sub-treasury for the week CO.
temporaneous with the bank statement in
cludes the receipt of $6,056, O44 and the pay
ment of S6,943 100. The result is a loss to
the general balance OF 1887, 7l6, and leaves
it at S79,073, 78S, against $4,000, 534 Janu-
airy 18th. The particular change of the
week were a coin loss of S929 1866, and a
currency gain of S4l 500. Strong as our
banks are now believed to be, in view OF the
low state of the reserve of the Bank of Eng
land, the advance OF the rate of foreign ex-
change to a point approaching possible ex-
ports of gold and the financial panic in pro-
gress on the Paris Bourse, their dealings
with the public are likely to be marked by
more than usual caution"
By Telegraph.
PARIS, January 25.-Rentes, S2f. 15c.
New ORLEANS, January 25.-Sight ex-
ling exchange-bankers' bills, 4sl}a84s5.
LONDON, January 25.-Consols, 80 - 16;
eonsols, account, 90 1916 new IS, extended,
lO334; is, 1901; Illinois Central 1851; Pennsy;-
IL; Erie seconds, 411z Reading, s23s
NEW York, January 25.-Money loaned
at from to per cent, and at the close, per
per cent Prime mercantile paper, CO., per cent
demand, 49, Governments irregular and unset
tied. Railroad bonds were irregular, on mod
inactive. Share speculation opeLed some
what irregular, but The general list was
ing quotations, the latter for Metropolitan
Elevated. San Francisco opened per cent.
lower while Norfolk and Western preferred was |
per cent higher. In early dealings an advance OF
92 per cent. took place, San Francisco preferred,
Grande being prominent therein while Manhat-
tan Elevated advanced 80 per cent. to so de
waited leading therein. Between boards ad-
vance of @9S per cent was recorded: the latter
1Or SIN fTdnClScO. MlSSOuEl Mdundltdu
Elevated, Northwestern and Northern Pacific pre-
ferred were also prominent in the upward move
meat After the second board prices recorded a
decline of 1@lE per cent, Reading and Denver
and Rio Grande leading therein; but in
the late dealings the market became stronger
S for Richmond and banviiie. San Fran
cisco advanced 9H per cent. but at the close
reacted per cent, and San Francisco preferred
sold up per cent, bit reacted q per cent at the
close. The market closed generally firm. c. p.
Huntingdon of the Central Pacific and Jay Gould,
of the Missouri Pacific, have Jointly purchased
the controlling interest in the ST. Louis and San
Francisco Railway Company, thereby acquiring
half interest in the Atlantic and Pacific, the other
half belonging to the Achison, Topeka and Santa !
Fe company. The Atlantic and Pacific road will
be extended to Il junction with the Southern Pa
citie near California, and traffic guarantee en-
tered into by the Southern Pacific and Atlantic
and Pacific similar to the guarantee of the ST.
Louis aud san Francisco and Atcnison, Topeka
and Santa Fe roads, The above announcement had
the effect of advancing st. Louis and San
Francisco common stock from Al to 49,, and
preferred from 81 to to. Transactions aggregated
400, coo shares. OF which there were of Canada
Southern 1t00 Central Pacific $500, Chicago,
Columbus and Indiana Central HOO, Delaware,
Lackawanna and Western "a, 900, Delaware and
% OO0 Hannibal and st. Joseph 1900, Kansas and
Texas 500, Lake Shore 90 600, Louisville and NASH
vile 55 0O0 Michigan Central 400, Manhattan Ele
waited 7000 Memphis ana Charleston $780, Missouri
Pacific 1i0C0, Northwestern, SO, 900. New Jersey
&c trial 1900. New York Central, 5000 North
tario and Western 22G0 Ohio Central 1000 Pacific
Mail 800 Residing 5000, st. Paul 27O00, st. Paul
and Omaha 26O0 Texas Pacific II 000 Union Pacific
400 Wabash Pacific 5000, Western Union 20, 900,
Robinson Mining 1000, ST. Louis and san Fran
cisco 1900. Closing quotations were as follows: