Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1883-08-28

r. INV
discount. Taxing-District compromise
bonds continue strong.
Clearings Balances
August 9th .-..-....-... .-. s1I3, IA d Sl6.3 a -
Same day last week -. 71,0l6 IS 6,67i %
Same day last year-...... 5O.57 u 9.65s 81
Exchange on New York buying at par,
selling at premium. Eastern cotton bills
buying at / per cent. discount, selling at
par; and exchange on New Orleans ! dis
count buying, and par selling.
Bank stOcks-Bank of Commerce. I35
bid, $40 asked; First National, us; Ger
man National, 200; Manhattan, 16OGrI7O;
State National, 12S bid, 100 asked; Union
and Planters, l45 bid.
Insurance stocks-Home. 50 offered;
Bluff City, 100; Peoples. 81; Planters, rs;
Phenix 30; Memphis City, l05@}llO;
Vanderbilt, 23@25.
Railroads bonds Chesapeake, Ohio and
Southwestern first mortgage, % asked
Mississippi and Tennessee, 80; Memphis
and Charleston first mortgage bonds, IL,
ia; do. second mortgage bonds, IS 1885,,
l03; do. %cOnsOls, 104; Memphis and Little
Rock first mortgage bonds, SIS, IS; Missis-
sippi and Tennessee ~consols, A 123; do. b
los.
Miscellaneous-Taxing-Di District compro-
mise bonds, O.; Merchants Storage and
Compress Company, new issue, 1876; Mem
phis Gas stock, Sl(aS3; do. bonds, 100;
Memphis Water Company. bonds with ac-
crued interest, par; do. stock. 100 bid:
Memphis City bonds, old, 34a35; compro-
mise bonds, 70a7l; coupons from old
bonds, 81 from compromise bonds, 20;
ledger balances, "a; judgments on cou-
pons and bonds, "a; paving indebtedness,
"a; Shelby county memphis and Ohio
railroad) Us, 100; warrants, %; Mississippi
ievee bonds and coupons, District No. I,
10; do. scrip, 10; Bank of Tennessee notes,
new issue, %; Crittenden county ARK
warrants, 65@7O; Desha count 90; Mis-
sissippi county, G0G70.
by Telegraph.
New YORK, August 27.-Money fairly
easy at 2a3 per e closed offered at 2
per cent. Prime mercantile paper, 54a61.
Sterling exchange-bankeH' bills, rather
weak, 4S2t demand, 4SG.
Bonds Governments firm; railroads
quiet. State securities dull.
Stocks-The market was very much de-
pressed in the forenoon by a variety of ru-
mors and allegations in regard to various
stocks, and also in regard to the financial
condition of one or more commission
houses. SO far as can be learned by in
curry, there was no truth in any of the re-
ports, and 1t is apparent that they were
started Tor the purpose OF making a break
in the market. The audaCity of the fabri-
cations, however, was such az to cause a
break, which was not fully recovered dur
ing the forenoon. The net result of trad
ing up to l2:30 O'Clock pm, was a decline
OF 4a2 per e on the active stocks, the
latter on Lake Shore and Oregon and
Transcontinental, with IA on Northern Pa
cific, | on Michigan Central, and Il fraction
on the other stocks. Although there was
considerable improvement in the prices of
stocks in the last hour, and a firmer tone
III the general list, the net result Of the
days business was Il decline of to 81 per
cent, the latter in Lake Shore, with "a on
oregon and T~ranscontinental and North
ern Pacific preferred, IL on Northwestern,
ls on Central Pacific, IA on Can
ada Southern, and on Lackawanna
and Northern Pacific common, with
1 per cent. on Memphis and Charleston.
Reading and Denver were exceptions to
the general decline, and closed I and per
cent. higher, respectively. The EeeninJ
Post says; "The most reasonable explana-
ton OF the depression in the stock market
to-day IL that Il certain large operator, who
have Tor a good many months been on the
bull side, and has been carrying "A large
block OF Lackawanna and Lake Shore, has
found it impossible to unload these stocks,
and has turned bear ON a number of
other stocks in order to offset the decline
on those he holds. Lackawanna has been
churned up and down for six months, over
Il comparatively narrow range, sales
amounting to five or six times the total
capital stock OF the company in the last.
few months. This, however, has enabled
him to work off only aportion, and conse-
quently it is believed he has to-day re-
sorted to the tactics above mentioned.
There seems to have been preparation and
"A definite purpose in the manner in which
canards about the embarrassment of the
Boston Bank, etc, We're sprung upon the
market" Closing quotations were ~ fol-
lows:
GOYRRNHgNTS.
n & q ma 10 1Iuy/