Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-03-19
FINANCE m TRADE


Nothing unusual reported by the bankers.
Money continues at6@8 per cent. discount.
Exchange on New York and principal Eastern
points, ! discount buying; ! discount IN three
days, and premium selling; and exchange on
New Orleans discount buying, and par
selling. Bank stocks are quoted a. fol
lows as per corrected list furnished by the
Manhattan Bank, February Dist: Bank of
Commerce, 100; First National, 12O0I3O;
German National, 200; Manhattan, 1900
$50; State National, 120; Union and Plant
era, l22. Insurance stocks: Bluf City, So;
fernando, lO0Gl55; Home, 50; Memphis
City, 50; Peoples, 9O(195; Phoenix, 70;
Planters, l009l05. Railroad stocks: Mem
phis and Charleston, 6S@70; Mississippi and
Tennessee, 67@75; Mobile and Ohio, 27629;
Memphis and Charleston first mortgage bonds,
=, 1l2(GIl6; do. second mortgage bonds, -
1855, 102G1OS; do. consols, l12; Memphis
and Little Rock first mortgage bonds, s.,
l00Gll0; Mississippi and Tennessee c%onsols,
A, 100; do. p, 1I9. Miscellaneous Memphis
gas stock, 75(GS3; do. bonds, $4,000; Mem
phis Water Company, 9S@l00; Memphis city
bonds, old, 2S(G32; compromise bonds ,58(G65;
coupons from old bonds, 80; from compro-
mise bonds, 6S6S0; ledger balances, p;
judgments on coupons and bonds, 26;
paving Indebtedness, %; Shelby county
Memphis and Ohio railroad) 6s, 1000
lO3; warrants, 98@lOO bid-none on the
market; Mississippi levee bonds and cou-
pons, District No. l, 10; do. scrip, 10; Bank
OF Tennessee notes, new issue, 35945; Crit
tenden county (Arksnsas) warrants, 20; do.
Desha county, %; do. Mississippi county, so.
Building and Loan Associations, per share
OF 500 each: Bluff City, S13976; Clerks,
S7S; Communication, S7S; Memphis
Building and Savings Association, SHOE I
142.
MEMPHIS BANK CLEARINGs.
March 18Th. ..- C ss5547S 10 h .5'Sa i
Total this week. Of. secs. l,OG2, 462 o. 27s,i s6 81
Total last week-.----.-... l,052$13 $ PSF O.
Same week last year $1,000. ~l,OJG.ltG 60 2j9,3ss 81
NEW YORK AMI sTATEAIENT.
NEW YORK, March 1S.-Loans, decrease,
Sl,399. 800; specie, increase, S2,692, 200; legal
tenders, increase, ST. 800; deposits, in
crease, 81 ,058, 100; circulation, increase, 1884,
300; reserve, increase, s2,465,47 The banks
nov hold $3,l53,3O0 in excess OF legal re-
quirements.
BY Telegraph.
PARIS, March 18.-Rentes, S3f. &c.
NEW ORLEANS. March 1S.-Sight exchange
on New York, 3 per $1,000 premium.
Sterling exchange-bankers' bills, 4S6.
LONDON, March I8.-Consols, Al, 115g.
nlinoi- Central, 1891 Pennyslvania Central,
64f; New York Central. 134A; Erie, 38I;
seconds, 98@; Reading, 800.
New YORK, March 1S.-Money, 3G44 per
cent. per annum, closing at 3G4 per cent.
Prime mercantile paper, 5CG6 per cent. Ster-
LOG cxchange-bankers' bills steady, 4S54;
demand, 4S9. Government bonds strong. In
the railrold bond market Chicago, Column
bus ald Indiana Central incomes advanced /.
to 55i from 81, Ohio Central incomes to IS
from 50, Wabash general mortgage IS to 81 +,
from S2}, Chesapeake and Ohio currency 81
to 40 from 46l, Kansas and Texas general
mortgage Is to 80 from IS, Kansas and
Texas general mortgage Is, seconds, to %
from 624, and receded to 633 New Jersey Cen
trail %consols asceuded to 1l3I from ll14. State
securities dull; Tennessees lower. Share
speculation opened strong and t@lI per
cent. higher, with Chesapeake and OHIO
and St. Louis and San Francisco first
preferred the most prominent in the
advance. Nashville and Chattanooga and
Richmond and Danville, however, each ,
opened II per cent. lower in early trades.
After a decline of gG15 an advance of }@2} J
per cent. was recorded, in which Omaha
common, Michigan Central, Denver and
Rio Grande, Alton and Terre Haute COM
mon, Oatario and Western, and Western
Union were conspicuous. In the early part
of the afternoon the general list fell off 9@3
per cent, New Jersey Central, Denver aud
Rio Grande, Reading, Louisville and Nash
vile, and Missouri Pacific leading, while
Lake Erie and Western sold up II, st.
Paul, Minneapolis and Manitoba II, Nash
vile and Chattanooga II, and Colorado Coal
l per cent. This was succeeded by an adj
vance OF 5@1i per cent. in Poo
ria, Decatur and Evansville, Mich
igan Central, Nashville and Chat
tanooga, Omaha preferred, and Texas
and Pacific; but in late dealings a general
decline of to II per cent. took place in
L~ackawanna, New Jersey Central and Wa
bash preferred. 10 final dealings Texas and
Pacific recovered per cent, Omaha common
:, and Peoria, Decatur and Evansville J.
The market closed irregular but in the main
weaker, although prices were generally
higher than yesterdays close. The Posi-
saws: 1.-THE failure of f. A. Desmarets was
this afternoon announced, and stocks of the
Denver and Rio Grande, New Jersey Cen
trail, Erie, and Missouri Pacific were bought
in under the rule for his account. Desmarets
was not a large trader, but is one of the
bears who failed to cover when the upward
reaction began. The large bears who
have not covered are strong and can
stand heavy losses. 1t is worthy
of remark that while the. heavy
declines OF the last nine months forced no
Iail~res on the 'bulP side, the first important
To those who understand the ways of Wall
street speculation, this is not strange; for,
while cash is the main point of the bulls
stock in trade, that of the bear consists of
what may be,dignifed as courage,,to sell other
peoples property and power to make hold
es of stock so sick of their holdings that
they will sacrifice them. A member of the
Stock Exchange can do more on the bear
side of the market with $25 900 cash than
he could on the bull side with 500, 900"
Transactions aggregated 10000 shares.