Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1885-08-26

NEW YORK, August 25.-Money on call
easy at II per cent Prime mercantile pa
per, 4@5. Foreign exchange quiet at ASH
for 90 days. and 4S5as for cemand.
Bond5-Government honas have been
very dull, but firm. State bonds have
been quiet, but strong. The railway
bond market was lees active than the
average for some time past, the sales
amounting to only 81, GIG, 900, of which
West Shore frsts contributed S61S 900 Erie
second consols S4S5 ,0O0, leaving $4,000
for the rest of the list. Nickel-Piate firsts
are down I, at Isl. There we're rumors
t day that a lsw had been discovered IN
the Niekei-Plate first mortgage, but it
was stated that as the Ohio law forbids
Lake Shore guaranteeing Nickel-Plate
bonds there was a possibility of New
York Central offering 10 make the guaran-
tee IS much as 3 per cent. West Shore
frsts are down ]. at 42S. Messrs. Drexel,
Morgan & Co, gave notice to the Stock
Exchange this morning that responsible
parties who were unable to deliver West
Shore bonds to-day would lave the privi-
lPge OF signing an agreement to deli
hem whenever the bonds ST. Isr
called for. In the general -yaiS be
more declines than ." hs' tAero are
marked decline ~%CanTe7. The most
peske and = Ct Y IoT cent. IN Chesa-
Stor' 4too of 1911, at SO.
4 <[So-day's stock market has been
efdedly more active than yesterday, but
there has heen a continuation Of the weak
ness of yesterday from the opening until
near the close, when prices were generei!y
lower than the ~c'csing last even ng, but
they we've at or Near ,he highest quota
tins reached today, and there was early
developed a decided weakness, particularly
in the .Omahss en1 Northwestern. There
were numerous repo;ss in circulation, all
| tending ID show that serious damage had
already been done t. the corn crop in tbs
Northwest by the frost, which !. vas al.
| legged was severe last night. Later dis.
| patches said that tie frost belt did not ex
tend as IA. south as the corn fields, but
the contradiction had at most OF ly q slight
! effe,t upon prices. The whole list con.
tlDued weak until about 2 O'Clock, when
the lowest prices were reached, tho de
ciines rangin generally from l to IS ptl
cent, the l1tter the Om4ha. In tbs
last hour the common recovered
and the preferred 2 per cent
but the common is sill! s and the pre-
ferred ? per ceat. lower han they CLOSED
las tevening. Northwest did not reach it;
lowest point till later IN the day, and in tbs
final dealings it rallied ( per con-. bu'
| closed W tn a net loss of T.. st. Paul wat
unusually quiet. and It's huctuatiSns yer,
W thin a rans.e Of ii per cent the ina
price, wNieh is Ligher than its loves
quotations, Growing a decline OF !. Othe
heavy declines were in Denver ana Ri,
I Grande, . per cent Oregon 4rausconti
mental aud Minneapolis and st. Louie
both common ard preferred, l Msnitobs
Texas and Pacific, Lake Shore and West
efn Union, each !; Pacific Mail, Uniol
Pacific, Chicago, Burlington and Quincy
and Northern Pacific common, each |; an,
the res of the list smaller fractions. Ther
IS not & single active stock that shows an
advance. 1t is claimed hat the recen
advance in the Northern Pacific
was for the purpose of assisting I'd
syndicate in disposing of nbou
Sl5, 100000 of second mortgage bond
taken by it some time ago, aud that tn
profits on the recent heavy shipmente &,
tea to this country, which csme over th
Northern Pacific road, was little or nothin,
for the reason that the Pacific Mail CT,
pany cut the ocean rates about &, nAr cen
A special dispatch from Chicago was ci
culated stating thptt an agreement hr
been made bv which the SaBsan CIT
~SprlngueiT and Memphis railroad is to g
Dos NJ cent. OF all tho business from ka
Us City auS beyond, destined to poin
: { east Of she Mississippi river and south
! the 0hio river, the remainder of the eas
J bound business to be divided between Il
I / Chicago and Alton and the Wabash line
The total sales OF stocks to-day were 81,
62S shares, including Central Pacif
1000; Delaware, Lackawanna and We
ern, 25.776; Erie, 6I60: Kansas and Tex
1856; Lake Shore, 30, l20; Louisville al
Nashville, 1886; Northwestern, PHI
New jersey Central, $3.50; New 70
Central, %. $50; Northern Pacific, 4lG
Northern Pacific preferred, SlS4; Paci
e Mail; 1858 st. Paul, 2S,500; st. Paul A
Omaha, IL 920; Texas Pacific, 22,ls
Union Pacific, $3.50; Western Unto
30,S00; Oregon Transcontinental, l6. II
; Closing quotations: