The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-12-28
MEMPHIS APPEAL.
TuE RUsINEss sIrUATION,

the interregnum OF business they
Gauss naturally gave an impulse to
business last week, and the reports are
generally very satisfactory. The New
York Chronicle reports: "Railroad
earnings continue very favorable, and
the statement for the second week OF
December, which We give on ant Their
page, Is by'far the best We have bad
Tor some time. Only six Of the sixty
Eve roads reporting show any de-
crease, and the losses on these are so
insignificant that the total for THIN
all only reaches $40 1923, against which
the remaining roads have an increase
Of se90,024, leaving net gain in the
large sum Of $679, 696, or almost is per
cent" With activity in freights
there ia corresponding gain in the
amount Of business, although some Of
the increase was caused by previous
delay on account Of snow. The
warlike preparations In Eu-
rope have detrimental effect
upon commerce, but Rusoia
has 30 far failed to secure the loan she
has sought, and this may compel her
10 be more peaceably inclined thsn
she would be with full pockets. Ia
Europe this fac has had favorable
effect. The adjournment Of Congress,
BY delaying some Of it's projected trade
and finsncial measures, has aided act
iyity. The Chronicle remarks; THE
enormous volume OF the retail Christ
mas trade in New York this year has
probably never been equaled, and 81
though this is one degree removed
from the business OF the exchanges
aud the Wholesale houses, still 1t is an
indication OF no small importance that
the past year has been prosperous
one, and that the pocket OF the poter
faBsilids Is generally pretty well lined
with money" Money has been
reported easy and loans less diff
hsuit TO obtain, while depres-
sion from that cause is now lit
lie felt. The New York indicator
Gays: Nearly 100000 of gold has
been received from abroad since Sat
urday, and q much larger amount is
on the way. The country will soon
have back all the gold which
it shipped in the frat seven months OF
the.year. When we were shipping
gold we had easy money; now we are
importing gold, and the bears try to
make tight money" The Chronicle
says that the open market rates for
call loans during the week on stock
and bond collatsrals have ranged
from 2 10 8 per cent, the usual rate 10
stockholders being b@6 per cent. to.
day the rates were 4@5 per cent.
Prime commercial paper is quoted at
6@63 per cent. Also that there has
been no real weakening OF confidence
a. home or abroad, and European, 40
we'll as American, investors continue
TO buy our good securities and to be-
believe In them. The Chronicle speaks
in the most fiAt'eTing terms Of the
present condition and future pros
poets Of the South, which, it says, is
really nsW South. Silver, a week
ago, quoted 46l pence an ounce in
London; 1t has fallen TO 40 pence, at
which rate the silver In our dollar Is
worth " 992 cents. The list Of clear
ings in another column shows a total
gain over the corresponding week Last
year Of 1,8 per cant. the quietnets that
followed the panic on Wall street &C.
counts lorthe small increase. Leaving
ont New York, we find the increase to
be 1913 per cent. When we remem-
Der that the era Of revival had set In
before that time we shall find this in.
Eesss substantial indication of "the
good time coming" il war, labor dis
putes and Congressional refusal to
adapt its policy to circumstances does
not hinder pro2reIs. In the list Of
cearings Of thirty places only four
show decrease as against last year.
Among them New York is below 81
per cent, and Galveston 81; Now Or.
leans had an increase OF 1915 per cent.
aud Memphis Of Sl.l per cent. Our
Philadelphia business letter mentions
some interesting facts regarding post
dated par, and effects likely to Increase
bankruptcy.