Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-03-23

nand for money is good, but the bulk
. Tor extsnsion-very few new loans asked for
The rates Of discount continue at Gas pc
cent.
March I'D ......sI55,o25 o5 50455 !
Thus far this week ......--. J3AI54 3: ICsS7s 3
same time last week.. l63, 80 50 l1i.453 O.
same time last year-..--.... 56J.453 y I25 SIS 4
Exchange on New York and principa
Eastern points, : discount buying; Z di-
count on three day., and premium sell
ing; and exchange on New Orleans I dis
count buying, and par selling. Bank stock
are quoted a. follows: Bank Of Commerce
I 100; First National, POO 100; German
National, 200; Manhattan, l6O918O; State
National, I20; Union and Planters, I22
| Insurance stocks Bluff City, So: Herman.
! do lOOG155; Home, 80; Memphis CITY. s.
Peoples, goa %; Phoenix, IS; Planters, 10ON
l05. Railroad stOcks-Memphisa and Charles.
ton, 6SG70; Mississippi and Tennessee
67G75; Mobile and Ohio, 27C0529; Mem
phIs and Charleston first mortgage bonds.
r., ll2(Gll6; do. second mortgage bonds, Is
| lSSjl, 1920 l08; do. consols, 1I2; Memphis
and Little Rock Erst mortgage bonds, 81,
/ lOOMlll0; Mississippi and Tennessee consols.
/ A, 100; DO: b, ll9. Miscellaneous-Me1n-
| phis gas stock, 7jGlS3; do. bonds, g7GIOO;
Memphis Water Company, 9S@lOO; Mem
| phis city bonds, old, 2SCg32; compromise
| bonds, 5S(a65; coupons from old bonds 80 -:
I
ances, %; judgments on coupons and bonds.
! 20; paving Indebtedness %; Shelby county
! memphis and Ohio raIlroad) Is, 1OOG9IO3:
warrants 9SGlO0 bid, none on the market /;
Mississippi levee bonds and coupons, District
No l, 10; do. scrip, 10; Bank of Tennessee
notes, new issue, 35CG45; Critteuden county
(Arkansasl warrants, 20; do. Desha county,
CO; do. Mississippi county, 80. Building and
Loan Associations, per share Of $4,000 each
Bluff City, S73GG76; Clerks, SIS; German
American, SIS; Memphis Building and
Savings Association, S140C9l42.
PARIS, March 22.-Rentes, S3f, pc.
NEW ORLEANS, March 22.-Sight ex-
change on New York, y per $1,000 premium.
Sterling exchange-bsnkers' bills, 486.
LONDON, March 22.-Consols, 1OI 3-I6;
account, I01 10; AS, 116f; Is, 119I; Penn
sylvania Central, 64f; New York Central,
1869; Erie, 1888; seconds, 97!; Reading, 3O5
New ToEK, March 22.-Government bonds
unchanged, except extended %, which were
per cent. lower. Railroad bonds irregular,
but in the main higher. State securities
without feature, except for Tennessee mixed,
which advanced J per cent. from noon, and
Louisiana consols, which are unchanged.
Share speculation opened strong and lGI
per cent. higher than Yesterdays closing
prices, St. Paul, Minnea polls and Manitoba,
indianapolis, Bloomington and Western,
and Richmond and Danvile leading in
the advance. In the early business a
fractional advance in the general list was
succeeded by decline OF s(Dl per cent,
New Jersey Central and Omaha preferred
leading therein. In the early part of the
afternoon the market became stronger and
sold up 4(93s per cant, Denver and Rio
Grande, Wabash common and preferred,
Lake Erie and Western, Michigan Central,
New Jersey Central, and Canada Southern
being the most prominent in the upward
movement, but subsequently a reaction of !
G9ls per cent. was recorded, the latter for
louisville and Nashville, while Richmond
and Oanville fell off per cent. In late
dealings this was followed by recovery OF
8G9l9 per cent, Wabash preferred, Michigan
Central, and Denver and Rio Grande leading
therein. The market then became weak,
and a decline of f9l9 per cent. took place,
in which Denver and Rio Grande, Wabash
preferred and common, Michigan Central,
Texas Pacific, and Delaware, Lackawanua
and Western were prominent, while New
Jersey Central fell OF q, recovered Z, and
reacted per cent. at the close. The market
closed weak; Richmond and Danville was,
however, an exception, and advanced | per
cent. in final dealings. The severe storms in
the Northwestern States had some influence
on the stocks of roads in that section.
In the last hour prices were raided in a
rally, during which the market closed. The
net result of the fluctuations for the day was
an advance of 3CG2 per cent. in active stocks,
the latter in Denver and Rio Grande, and
IG31 per cent. in specalities, the latter
In Richmond and West Point. The future
of the stock market hangs on the decision of
large speculative capitalists who have brought
about the recent advance. They undoubt-
eddy have the power to advance prices more
but whether 1t is their intention is not known,
although the surface indications are that
such is their purpose. The Erening Post
having published in an early edition that
Jay Gould and associates had secured the
maj )Tity Of the capital stock of the Mutual
Union Telegraph Company, George William
Ballou, identified with the company from
the start, sent word TO the Erening Post con-
tradicting the statement, and in proof of his |
assertion cited the fact that the entire share |
capital 100000 shares) is held in trust |
The EUeniHg Post answers: I'VE can only |
account for the statement of Ballou on the |
theory that he may not yet know who are |
tine real owners OF certain lots of the |
Mutual Union Company's stock. While |
Jay Gould personally owned not over
$4,000 shares of the cOmpany's stock, his |
associates own enough TO make the total |
$4,000 shares, or a majority of 1000 shares" |
The Post also says: ut is understood-al- |
though We have been unable to obtain ex- !
pliclt authority Tor the statement-that ne |
gotiaions are pending with the Baltimore |
and Ohio Railroad Company for the purpose |
Of bringing the telegraph lines ownsd by |
that company into harmonious relations
with the Western Union, and that the entry |
by the Baltimore and Ohio railroad into |
New York over the Central railroad of New |
Jersey is one of the subjects considered in
he negotiation with the Baltimore and Ohio
people. If these negotiations succeed West
srn Union will have again removed the only
important obstacles to It's practical control of |
The telegraph business of the country"
Transactions, 600 900 shares.