The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-08-10
MEMPHIS APPEAL
TUESDAY, $: AUGUST 10, 1885,
THE BU,INEss SITUATION.

The Blu, MESS sIIUATION.
The business situation for the time
OF the year remains very favorable, as
the condition OF increasing interest on
money and favorable bank clearings
indicate. 1t is thought that the pos
pect is all the better now Congress is
no longer sitting, 80 that the situation
will not be changed by any present
interference from il. TIE Morrison
surplus resolution, and the refusal to
stop the coinage OF silver, had aroused
fears that Congress might cause diff
Guilty in financial affairs, but those
fears are at rest for the present. The
table OF clearings for the last week, on
our commercial rage, shows that mat
tiers wers more active in New York
last week than during some Of the
weeks preceding. The totals, New
York included, show an increase over
the corresponding time last year Of
4o9psr cent. leaving out New York,
the total increase on Clearings was
3s per cent. quite contrast to the
previous week and the week before 1t.
1t will be noticed that only one city,
Portland, Me-, reports decrease from
the returns OF the corresponding time
last year. The New York Chronicle re-
ports an upward tendency in money,
bankers balances during last week
ranging from to per cent, ayerag-
ing about "a per cent. Commercial
paper was plentiful with diminishing
demand. Time money on stock col
lateral quoted to 5 per cent. for four,
Ave end six months. Loansble funds
in Ne York are mainly conc entrated
in the hands Of a very few banks. Bos-
ton, Chicago, ct. Louis and other
Western centers have all their funds
actively employed at god figures.
Says the Chronicle: IAN things con-
sidered, the outlook would appear to
be good for rsmun6ratins Yh,es
for the ulc OF money, es
eclally If the speculation for
higher prices on our Stock Elk
change should continue" In London
money in the open market is higher,
IL per cent, with no indication ( any
special activity in businefs The de-
M net "a ion OF silver Ia check on
any revival. Foreign exchange was
weak AID flu:tuat'ng, both for st ring
bills and Tor continent. Bar silver fell
10 42c, with sill falling tendency.
Some Of the silver mines that yielded
only q small profit are Ceasing opera
tons, and there is no inducement to
tp rrow onts he ,erge accumula-
iiuns Of disJredited silver coin will
prevent this decrease Of produce at.
iect'ng Ina market Our continuing
T. coin causes Europe TO look TO IA TO
relieve them of the burden, and 80
prevents action o. tlei, part Tive
d,feat of the Morrison surplus
resolution, through no President 5
failure u sign, is re iel to commerc a
and indus rial interests Uni ed States
t'e, and gold and gold certihcat e
formed over SIS per cent, of tho ma.
,ianal receipts of July, with only II
pr cent Of silver certificates In
snme q the early months of last yer
silver certificates m united up to 40
rer cent. Of the whole. The Chronicle
ret oits no mlterial change in the
husicess situation. Col ious rains in
fomo di,tricts have improved the crop
PR specf, but drouth has affec ed
,orn mo q than can be rec Jvsr;d from
In some parts spring wheat is turning
out better than was expected. The
bank clesring' for July we're less fAv'
.OrAble, Increasing only SO per cent.
over the previous year. R,ilroad
esrnh g are decidedly encourag-
ing ON ell directions. The
CbicaIo Bankers Monthly says that
I'm ncial It iugeucy at Blu amos AyreI
hes sent go d there to premium OF Is
pr cent, ard remarks; with geld
ri,i,g Ia value, and ,ilver stea lily de-
GLAZING, the financial signs are not
very lie. ssuripg" National bank not 6
have been forwarded TO the Treasury
OF lat ia her 'arge quantities fol
redemption, as the profit on the circu.
lation, Al tie present price of United
States no DIS, is less then onehalf Of
one pr cent This Monthly says the
BIT g interest and Increased demand
for m1tey cal be accounted for only
on theory that business is improv
ing, and that macy are Already makini
.errsn 1ements for rward step in thu
;mmeji te faiure. Toe New York In
dicator reJCr,s: "Ghe Sou h pres ,nt
lume .ous opportunities for investor
who have ,hsir eyes open. But tn
opportunities will no. last forever
Tennessee Coal, lion and Railroad ha
surprised ven its friends, and it doe
lot seem t have lost any Of its vital
ty eiJh,r. The prospects of the con
Iany are exceedingly favorable, au
It's SIC lriti,s deserve all the col iidenc
IA hiss been placed ia ihem." TIL
last gu tation Of silver, AZ pence a
ounte, maEesIthe value Of the silver 7