Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-02-04
FINANCE AND TRADE
FINANCE.

FINANCE.
Bankers report bu.lness nat. Money ga
per cent. discount. Exchange on New 1or
and principal Eastern points, discount bu!
ing; discount on 3 days, and prem I'm sci
ing; and exchange on New Orleans discouI
buying, and par selling. Bank stocks al
quoted as follows: Bank of Commerce, l2C
| Union and Planters. 125; State National, l2t
| Manhattan, l60G180; First National, 10
| German National ,205(d2 l0. Insurance stock
Home Insurance Company of Memphis, ~
! Bluff CITY, S9(G9O; Peoples, $40 SO; Planter
los; Phenix, 30(as2; fernando, l16G9l17I
| Memphis City, S3(G IS. Other stocks an
bonds rule at the following quotations
! Shelby county bonds, per cents, 1O1@ lO2
| CITY compromise bonds, uudisputed, 500 50 Z
tainted, 40945; past-due coupons IRON IN
| disputed bonds, 80; from tainted, 50(G60
| old bonds, 30G35. Ledger balances AM
Nicolson paving scrip, 25(926. Memphis ga
stock, 1880; do. bonds, 95G96 Mississippi
levee scrip or coupons of District No. /
! HOP. Mississippi and Tennessee stock, 20
frat mortgage bonds, 1870; do. second mort
gage bonds, 1I8@12O. Memphis and Little
Rock first mortgage bonds, 1l0(G112. Mem
obis and Charleston consols, 112C9ll4.
MEMPHIS BANK CLEARINGs.
February Gis@5l9F $ B n75i :.
Thus far this week.. 1850 - l4891l y.
Same time last week. 55$.lSl = 1881 2
Concerning the effect of the European
financial furry on American markets, the
New York Banker and Broker, of January
3lst. says: Several times in the past six
months we have asked careful consideration
Of the very unsettled and dangerous condi-
ton Of finances in Europe, as likely to have
sn early and important effect on our market.
AS a safeguard, we urged the most careful
study OF their securities by all holders. 1t
depends on public intelligence and confidence
whether Europe's panic shall be our oppor-
tunity or danger. 1t cannot be denied that
tue failures daily reported from different
European money centers by financial firms
and stock operators indicate general and
large losses that IN ~, at any moment, cause
a general rush to unload securities. Ameri-
can securities held there will not be the first
to come on the market, because they are held
with more confidence than others, but they
nav, for that very reason, come more IN a
lump OF course, the disposition OF our peo-
pie will be to buy as cheaply as possible, but
this disposition carried too far will break
our own market, and cause a panic
here. Even in this event, there
will be cool heads and strong nerves that will
buy and secure the great profits certain to
follow calmer times. The Banker and Broker
svoud have this class enlarged, and, there
FORE, repeats its warning and urgent appeal
ID holders to study their securities, be first to
let go the fancies and last 10 sell the good
securities. 4 panic takes enormous amounts
of money out of activity and boards it, but
the hoarder coon finds that stockings, pots
aud chests pay no interest, and after the
fright begins to seek profitable place for
his money. He il very careful at first, and
tile dividend stocks are the first TO get his
money. In q word, the investor may now
buy or hold on the certain basis that come
what may six per cent. security Is worth
par to hold Now is a time when investors
will find the securities of the Southeastern
systems specially interesting"
BY Telegraph.
PARIS, February 3.-Rentes sci. 25c.
LONDON, February 3.-Consuls, 80 11-16;
on account, 100 le new IS extended, 1857; as,
Central, 1885: New York Central. iS41S; Erie,
a; Erie seconds, li11; Reading, s23.
NEW YORK, February 3.-Money 33@44
per cent. per annum. Prime mercantile paper, So
sb,ady 4sii<; demand AGO. Governments fairly
for r. extended 6 IS and IS and as RAILROAD bonds
rather weak. State securities hrmer. Share
speculation opened strong and per
quotations for Richmond and DanvilIe ?
higher for Memphis and Charleston. and 9lal per
cent higher for the rest Of the market the latter
Southwestern preferred. In early dealings ad
Ohio and Mississippi while Mem his and Charles
ton sold up 81 per cest, at So subsequently the
decline of 149l74 per cent. was recorded, Denver
ard Rio Grande, Memphis and Charleston, Hanni-
bal and st. Joe preferred and Northwestern, being
most prominent in the downward movement,
while New Jersey Central sold mp IL per cent,
g6lS. At the.second board the general market sold
mp ss4 per cent, the latter for Pacific Mail, while
Boston Air Line preferred advanced y per cent,
to g.; a reaction of 1F@zs per cent. followed. In
the late dealings the market again advanced
SaI% per cent, Boston Air Line preferred
leading the upward movement, while Panama
closed D. r cent lower at lSs(9192. The market
closed firm Transactions aggregated 800 0Oo shares,
of which there were of Canada Southern 1900, Cen
trail Pacific 1000, Delaware, Lackawanna and West
ern OO0 Denver and Rio Grande 81 600 Erie Il 900,
Hannibal and ST. Joseph 1000, Kansas and Texas
$500, Lake Shore l5,0O0, Louisville and Nashville
100, Michigan Central 1900, Memphis and Charles
ton AGO. MiSsoSi Pacific $500, Northwestern l3 600,
New Jersey Central coo New York Central Is 600,
Northern Pacific IL 900 Ohio and Mississippi 1900,
Ohio Central 300, Pacific Mail l6.000 Reading
1000, st. Paul 1000, st. Paul and Omaha 1000,
Wabash Pacific 600. Union Pacific 1000, Western
Union 5000. Illinois Central 1000. Closing quota.
as follows.