Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-08-04
FINANCE AND TRADE.
FINANCE

FINANCE.
$ Eight per cent. rules for money, with stl
s demand.
= .,n. Cleanngs. Bals s17
Thus far this week. ......... 500 4s4 IS 1927
Same day last week.. 200, 4s4 " 1855
same DAY lasi year.-.-.--..- 407, 10 IS HILL
Exchange on New York and princips
Eastern pc nts, at par; discount on thre
days, and premium selling; and exchaDg
on New Orleans discount buying, and pa
selling.
Bank stocks-Bank of Commerce, 12O
First National, 10; German National, 200
Manhattan, 160(91S0; State National, 40
Union and Planters. I25.
Insurance stocks-Bluff CITY, So; Her
nando, 100@l05; Home, 50; Memphis City
So Peoples, eo@s5; Phoenix, IS; Planters
Railroad stocks-Mississippi and TenEes
see, 67@75; Mobile and Ohio, 27029; Mem
PMS and Charleston first mortgage bonds, 7s
I129116; do. second mortgage bonds, z
1SS5l, l02@108; do. console, liz; Memphi
and Little Rock first mortgage bonds, IS
| lOOC9llO; Mississippi and Tennessee consols
| A, 1269128; do. B. 116@1IT.
| Building and Loan Associations, per share
OF 300 each-Bluf City, $73@76; Clerks
| NS; German-American, S78; Memphis
| Building and Savings Association, s140@
142.
Miscellaneous - Merchants Storage and
Compress Company, 125; Memphis gas stock
1908; do. bonds, 97(a1OO; Memphis Water
Company, bonds with accrued interest par
stock, 120; Memphis City bonds, old,
2S(932; compromise bonds, 58fG65; cou-
pons from old bonds, 80; from compromise
bonds, 7c@75; ledger balances, %; judg-
ments on cou pons aud bonds, 80; paving in
debtedness, 25; Shelby county memphis
and Ohio railrosd) g., 1OO@IO3; warrants,
9SC9l00 bid-none on the m arket; Mississippi
levee bonds and coupons, District No. L, 100
l23; do. scrip, 129l23; Bank of Tennessee
notes, new issue, 35(945; Crittenden county
tArkansas) warrants, 20; do. Desha county,
81; do. Mississippi county, so.
PA BIS, August 3.-Rentes, S1f. 45c.
NEW ORLEANS, August 8. - Sight ex-
change on New York, So so per $1,000 pre-
MUM; sterling aEge-bankers' bills,
1874.
LONDON, August 3.-Consols, 99k; Ais, 116;
4s, 1929; Illinois Central, 1434; Pennsylvania
Central, 63s; New York Central, $50; Erie,
41s.
NEW YoRK, August S.-Mopey, 2@93 per
cent Prime mercantile paper, sac per cent.
Sterling exchanee-bankers' bills steady,
Asst; demand, 1881. Government bonds ]
per cent. higher for extended 5s, per cent.
for 4s coupon, and unchanged for extended
6s, AIS and A registered. Railroad bonds
on moderate volume of busi-
ness. State securities inactive. The stock
market opened II per cent. higher,
than at the close yesterday. for st. Paul and
NJ anitoba; 1 per cent. higher for Chicago
and Alton, and s@5 per cent. higher for
the remainder Of the list except for North
western, which opened at 2 per cent. and
N rafn roA AL T.. IL
opening Northwestern declined 5 per cent, /
st. Paul and Manitoba per cent, and the
general list 9@s per cent. The market
hen began to advance, and by IL 80 o'clock
prices had risen per cent. for Northwest
ern, 81 for Northwestern preferred, 8 for
Milwaukee and st. Paul preferred, for
and st. Paul common, 8 for Illi-
1ois Central, 1t for Rock Island, II for
Chicago and Alton, II for Chicago, Burling-
on and Quincy, Ii for Michigan Central, II
or New York Central, IL for st. Paul and
Omaha, for st. Paul and Omaha preferred,
/ for Oregon Transcontinental, j for Union
Pacific, l for Denver and Rio Grande, aud
or the remainder of the list, the latter
Northern Pacific. About noon there
vas a decline in prices, followed by
. recovery and a rather strong market.
Early in the last hour there was decline, ]
however, of II per cent. for St. Paul, and !
Manitoba and tot per cent. for the rem aim
Ter OF the list; the latter Michigan Central.
n the last half hour the whole list became
trong. In the last Eve minutes small part
II the advance was lost. The market at the
lose was irregular. The temper of specu-
ficial confirmation nor denial OF the re-
'orts concerning the coming stock dividend
o shareholders of the Chicago and North |
Testern Railway Company. On this subject
he Post says: "Many millions of dollars
ave been diverted in the years past from |
his market by construction expenses, and |
took dividends would rest on the not I'M
easonsble claim that stockholders are
Untitled to some representation for money |
0 diverted. Some branches of the road (now |
noderately proftable) were Improbable for |
everal years after their acquisition, and |
money vas diverted from the treasury of |
he company merely to operate them. |
he capitalization of this money would |
imply be the capitalization of business |
osses. As to the wisdom of increasing capt. |
alization the tenor of conservative opinion |
), that it would be well to wait until, at |
east, the company could carry the present |
ate of dividends and interest obligations |
yer, say one year, of bad business" The |
commercial Bulletin remarks.: "There is moth |
ng new respecting the rumored forthcoming |
lOCh uAfAuCnu OA Ne OuQCeIS 4
I the company, excepting Mr.. Keep, know |
othing of it. Mr.. Keeps lips are sealed by
Vanderbilt, who, with his sons, w. L. Scott,
|. Foster, Dewey, and few others, own, it is
aid, 6ve-eighths to three-quarters of the
tock." The Telegram states that "efforts |
ere made to inaugurate selling move
lent in stocks, but it is admitted that the |
uttlng down of prices in the present. state
public temper is laborious and expensive
ork. Keene's brokers were large sellers.
he late decline in Rochester and Pittsburg
ock resulted from an impression that the
ompany will dispose of $4,000 shares of its
ew stock and apply the proceeds to the
urchase of income bonds. A report was
rculated late in the afternoon that Keene |
as heavily short of Western Union" The /
ruphic says: "The loss of the Lake Shore /
,ad by the collision at South Bend will
robably reach 100000" Transactions
aggregated 435 900 shares.