Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1885-06-25
MEMPHIS APPEAL.
THURsDAY a.. JUNE .. lssl
BUSINESS NOTES.

AAblNE-o6 AOLES-
Some improvement in stocks last week
has been pointed to as indicative of in
creased business, but other facts fail to
support such inference. 1t is surmised
that there was a little Wall street ma
nipulation to induce the outside public
to invest in their weak and shaky stock
on hand. walk into my parlor, said
the spider to the fly" Exchanges eleven
per cent. below those of the same time
last year during the week, and seventeen
per cent. below the week before, tell
truer tale than the stock market, although
it be less hattering one. Another wit
ness is the railroads, forty-three of them
reported earnings for half June and
twenty-three Of them showed losses, the
whole forty three had a net decrease Of
over four per cent. later returns show
losses still greater, the Chicago and Alton
as much as twenty three, and the San
Francisco twenty per cent. These things,
and unfavorable crop reports, do not
elevate public feeling. Spite of gloomy
predictions, cash wheat advanced only
one per cent; corn, oats and rye
were lower. Pork fell slightly,
cheese was dull, butter declined, so did
cotton, sugar was shade better. Iron
was weaker, coal stagnant, dry goods 6
little improved, but oil advanced. Such
statements as these do not improve con
fdeuee, and the New York Tribune re-
marks; ''If the real business of the
country were growing more active the
deposits in the banks of this city would
not increase over S4,O00,0O0 in week,
and 100000 in the past three weeks,
lifting the surplus of idle money to &C.,,
44O,5OO. The Treasury paid out much
more money than it took in, reducing its
stock of notes $780, 91, while increas-
ing 81 So, 227 in gold owned and 500,
56l in silver owned The same paper
says: THE most noteworthy feature in
its recent statements has been the evil
dence Of largely increased use Of legal
tenders in payments. During the month
the Treasury has reduced its stock Of
legal-tenders over S6,OOO,OOO and its de-
posts in banks over s., 100000. The
most encouraging feature is that the
Treasury begins to feel the effect Of
Withdrawing silver notes from use
last week the proportion of such certif :
Gates received at Sew York was only 345
per cent. The New York Indicator re-
ports concerning 3he weeks finances that
in the banks Of that city the deposits in
creased over S4,0OO,0O0, and were over
1911 Do, 900, the largest amount they
ever held, 1900, 600 more than the low
est point, which was on June Dist, of last
wear. The reserve increased nearly $500,
900. specie decreased over 100000, legal
tenders increased over S2,000,00O The
surplus reserve increased S46O,575 and
is now beyond any ever before held.
Loans increased over g, 100000, and -re
now nearly S299, 100000, or nearly $780,
600 more than at this time last year, but
during the preceding three months loans
had been reduced s58,O00,000. The re
serve is SO, 600, 900 more than year ago.
Circulation continues to decrease, and for
the first time in many years it falls below
$1,000 600. Since the close Of last year
circulation has decreased over 81 800, 600,
and since June p, 1884, 81, 100000,