Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1883-01-29
0OHMKR0IAL.
PunLIo LHDsEl oEEIos


cial paper to run as late as June Oh
July at 6 per cent rate. AS funds arr
reported plentiful in all Northern
cities, anything iu tie way of securi.
ties promlsing better rates than gov,
eminent bonds is in demand and firm.
with an upward tendency. Local
stocks. bonds and securities Of all
kinds here are quoted alta premium il
eta prompt interest paying or fair
dividend earning description. VERY
few good securities offer, present own
ers being in the main satisfied to hold
on, but when offered, find ready tax
ers. Within the past few days sales
are noted of U. s. bonds at ac less
than New York quotations; Memphis
gas, Z per cent bonds, at 98c; do. stock,
at &c; city railway stock, at par; Mem.
phis City Fire and Genl Marine Ins.
Co. stock, 95e, paid in at 500 per
share; Union aud Planters Bank at
$l35 per share, and old city indebted
ness at 3Oc. The latter is only in de-
mand for tax paying purposes in a
small way. Merchants Cotton Press
aud Storage Co.'S stock is at a premi-
um for the new issue. This company
recently declared a scrip dividend Of
$50 per share, thereby increasing the
capital stock from 100000 to $75O,OOO
and upon the latter a cash dividend
Of 5 per cent was distributed out Of
the company's earnings for the six
months ending with the close of last
year.
The railway aid bonds Of our
Arkansian neighbors have enjoyed a
decided boom since the recent deciY
sion Of the courts, to the effect that
the railways are responsible, but that
the State is not. The latest New
York quotations are 49, for Central,
which is the line from Helena to
Clarendon; 81 for Pine Bluff and
New Orleans, 2S for Red river, and
A for Fort Smith. The officers Of
the latter have recently been notified
by the bondholders that they claim q
prior lien to the first mortgage issues,
and that they intend to apply for a
receiver to take charge of the roid,
These aid bonds, all Z per cents, have
been greatly depressed for many years
and have sold as low down as 3 and 4
cents on the dollar. For a long time
they were quoted at from 7 to 10.
AS an instance Of the financial dull.
ness ruling at New York, it is noted
that on Thursday last the governing
committee of the Stock EXCHANGE
added nearly $87, 100000 to their list
of new securities for dealings, and
that during last year upward of a
thousand millions were added. 1t is
claimed by operators that the supply
Of speculative securities exceeds the
demand, and that too many have been
manufactured during the last three
years. The list taken in last week
includes wei $40, OOO, 900 first and
second mortgage bonds Of the Calves.
ton, San Antonio and Harrisburg rail-
way, nearly a million of Missouri,
Kansas and Texas, md $55, 900, 900 Of
the Canadian railway.
Local exchange rates were revised
on Thursday last, aud bankers pur
chasing terms for Eastern cotton bills
we're reduced $l.25 per thousand,
while checks on New York were
advanced from par to ~ 80 per thou
sand premium. The tone of the
market for Eastern exchange is unset
tied, while on New Orleans it is steady
aud unchanged. Present rates are iC
discount buying and par selling on
New Orleans; ic premium selling on
New York and Western cities, and sc
discount buying on New York or New
England where no grace ia asked, OF
tc discount on Boston and Providence
for sight bills.
Uncurrent securities, etc, are quoted
firm at the following values,