Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1883-05-08
II FINANCIAL AND COMMERCIAL


SAA
The exchanges OF the fourth week in April,
the New York Public says, show still larger
per cent. of decrease, compared with the cor
responding week Of last year, than for the
New York, there has not been as large a de-
crease for any week since the LIST of January.
At New York the decline is 22.5 per cent.
Outside oil stocks the remaining exchanges
for the last week are s447,352,1 91, against
$560,074 800 for the corresponding week last
year, a decrease of POI per cent. Stocks re-
main dull, but speculation continues quite
active in nearly all the markets outside OF
stocks. Memphis reports 1897, 254, against
S696,Sl6 exchanges at the corresponding
time last year, an increase of 4O.2 per
cent. Boston, which made favorable returns
early in the year, has been reporting very
~irregulsrly Of late; to the large decrease at
Boston over tWo-thirds of the decrease out
side OF New York is due. There are few
evidences OF any improvement in business,
in fact the situation seems yet worse with
numerous -imnortant failures, and with the
renewal OF strikes on a large scale, the fu-
ture does not at present look clear. The
striugency Of the money market in March is
changed for comparative ease, money is in
limited demand, and the prospect for an easy
market throughout this and mex month is
very good. The banks, however, return to-
ward a sound condition much more slowly
this year than for the past few years, which
shows that money does not flow as quickly
to the center 10 New York this year as here
t%ofore, although the domestic exchanges are
nominally in favor of New York at
nearly all outside points. There is evidently
plenty Of money abroad for investments, and
some large American loans have been placed
IN Europe. The recent Dutch lean had APP
pllcations for twelve times the amount. In
Texas as high SIS one and one-fourth per
cent. a month has been charged by the banks
on loans to ~caltie-raisers. ST. Louis has now
taken the business, and makes loans at eight
and ten per cent. per annum. This has
forced the Texas banks to reduce their rates.
1t is reported that q number Of the silver
dollars in circulation were not minted by the
government, but by private parties, who thus
secure the profit that comes from The dollar,
which is to-day worth eighty-three and three
iourths cents, being circulated for a hundred
cents. While the government minis put the
dollars they make into vaults, these private
hints c~ontriye to push theirs into the
ejaculation. A good steady income
IS seeEted ii this way upon a
moderate capital, and it would not be sur.
pxiefHg 10 zee the business increase. The
(sStic notices hat the cotton mills of the
Sasth have generally paid very handsome
profits. The Graniteyille Mills, OF South
Carolina, have just paid a dividend of twen-
ty-one per cent out Of the net earnings, after
the payment of interest on debt and all
other expenses. The Public adds: "This in.
stance is only one u Of many of the same
kind, and is fulLOf Encouragement for South
ern manufacturing enterprises" Our foreign
is still in a satisfactory condition, |
imports are light at present and exports