The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-11-23
THE Rus,NEss SITUATIONS.

There is some quietude in business
preceding the Christmas rush which
will soon be felt, bu. the general tone
continues to be encouraging. Money
retains it's improved rate, With a good
call for it. The banks ere getting into
a ftronger condition, but they chow q
preferences for time loans over "on
call" The West is in fair supply Of
funds and calls from the interior have
decreased. The New York Chronicle
reports: "With the continued arrivals
Of gold from abroad and some outflow
OF funds from the Treasury through
interest payments aud the issue oil sill
YER certificates, it is not a matter for
surprise that ourIbauks should for the
time being at least be a little better
supplied with funds" The strong
tone al the Stock Exchange indicates
q steady looming demand Tor
money, but when Congress meets
some attention TO financial busi-
ness must necessarily be given,
and that may possibly make
some change in the present aspect
OF things. The supply of currency is
sat siaclory. So iar the contraction
from withdrawal of national bank
notes is unimportant. The How OF
gold 10 New York from Europe con-
tinues. There was an arrival on Mon
day afternoon Of ST. ,297 200 in francs,
and on Tuesday Of $245,OOO in English
gold, besides which about S360,0OO in
gold came in on Saturday, making a
total of 81, 1902, 200, and 100000 is
heard of beside. 1t is noticeable that
the Bank Of France, which was already
paying a premium for gold, has adj
vauced the rate TO one-half and | per
cent. As France is a silver standard
country this circumstances Is not with
ont its possible significance. Silver
has continued 10 advance without any
firm reason for the change. 1t ID u T
missed that the English Silver Commits
sion may result in the establishment
OF bimetalliem, and the:United States
is expected to continue oblieing Eu-
rope by holding 80, 900, 900 a month Of
the metal from their markets. Silver
in London has risen during
the week from 48 ll.16 to 46b
pence an ounce, at which rate
the silver in our dollar is worth
7e.475 cents. The clearlngs table on
another page again shows a decrease,
S.s per cent. on the total as compared
with last year. This Is owing to less
activity in Wall street than existed a
year ago. Outside OF New York there
is an increase Of Az per cent, chow
ing that we are advancing beyond the
Improvement that was developing at
this time last year. Eight places show
O decrease in clearings as compared
with the corresponding week last
year. New York decreased 1896 pei
cent, New Orleans 1871, Galveston
1873, and New Haven 1888 per cent.
the othera were under 10 per cent
The New York indicator says: "Chat
tanooga keeps crawling for par at
lively rate. B)und to sell there be-
fore Christmas. You can put YOU
profits into holiday purchases. The
"street" IS beginning to bull Tennes
see Coal and Iron now, and gossip
credits 10 with the probability of eros
sing par this week. The stock has
climbed a good many points since W
took hold Of it, aud will goa root
many more whether Wall street gossil
backs Il or not. But the "Street" get
its eyes opened sooner or later, an,
now tina! it Is taking up Tennessee
Goal and Iron there is no question
that 1t will boom it," The overflow
ing capital Of Europe is seeking vent
and n sharp speculative movement
with many kites in the air, ispredicte'
and has partly began.