The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-04-13
ruB BUsINEss SITUATION

The New York bank clearings OF
the week ending April Sd showed a
heavy deere ase as compared with
those Of The week previous, which is
largely attributed by the Chronicle to
smaller stock transactions. Outside
Of New York, where speculative in
Auences are less felt, there was gain
OF 2l.6 per cent. over the previous
year. Taking the whole month OF
March there was heavy gain, 1871
per cent. over the March previous, or,
emitting New York, Of 25,3 per
cent, and for the three months OF the
present year Of 1915 per cent. These
figures show q satisfactory advance
over the early months Of last year,
although labor troubles have seriously
obatruc.ed business portion of the
time. The Chronicle reports the ten
dency Of money in New York to be
toward increased esse. Bankers bal
anCes average q to q per cent, against
% to 3 the week before, The cause
Of the eaue was the heavy disburse-
ments OF the Treasury for interest and
called bonds, and decreased demand
ior money from the interior The
change increased the demand for COM
merCiat paper, New York and Boston
banks competing for such paper in
the hands of brokors. The condition
OF the bsnks promises favorably
should no gold exports modify them.
No gold was exported from New York
last week, as the rates Of exchange
are below the shipping point, but it
would be premature TO conclude that
they have permanently ceated. The
increased pressure in demand, and a
small advance in rates, would cause
the outflow to resume, Ourjmports
are large, and last weak we're S2.500,-
600 more than for the corresponding
week last year, while our exports are
moderate, and wheat has fallen in
price. There is increase abroad in
the buying oi our securities, however,
which, TO some extent, modiaeJ
the loss imposed by the extent Of the
imports. The Bankers Monthly sAyf
that q good portion of the loans in
New York go for mercantile pur
chages. Reports are mentioned Of thu
discovery Of gold deposits in Pata
gonia equal to those Of California anC
Australia. Should they prove Ger
reef, the silver question will hav'
another complication. The Bank o
France has been accommodating gold o
lsts, It is said, in consequence Of de
cline that has occurred in the price q
Panama canal shares, and fears tina
the commission sent by the French
Government to Panama will repol
uniavorably, and the hoped.for al
from the government be withheld
Anything strongly uniavorable to tn
canal, il is feared, would cause
panic, for the holders of the stoC
are very numerous and inolud
almost every class Of societ.
The vote in Congress against an VI
limited coinage OF silver has stoppe
one possibility OF mischief, but It
pretty evident that there is no intel
tsntion TO suspend the coinage Of 81
We. dollars. The consequence is ths
should events at any time cause q
increase in the shipments Of gol
finance and commerce will fall into
state Of anxious uncertainty, and
general feeling OF uneasiness be pr
duced that is most unfavorable
trade activity. A liability to mistru
aud business commotion is one Of Il
woes the continuance Of the silv,
coinage keeps hanging over us. II
Chronicle reports: General busine
is rather quiet for the moment" II
more favorable weather and the cor
mencement Of the subsistence Of Il
foods, together with the gradual 7
sumption Of transportation, vi
probably change this gloomy sp
into brighter hues. Ia Englar