The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-06-22
THE BUSINESS AND FINANCIAL
SITUATION

SITUATION.
A summary OF the week ending IN
Saturday shows that ell Departments
Of trade aud transportation, as well as
bankers and stock brokers, are doing
well with a most promising prospect
ahead. Money is easy in New York
with moderate demand, the ex remes
for the past week for bankers
balances being, as the Chronicle tells
us, at an average Of 2 per cent.
Renewals have generally been st p,
but bankers have not been loanipg
below per cent. except in cases
where the collateral was unexception.
ally good. Commercial paper has also
been easier, for though the supply is
becoming more libsrAlItates for in
dorssd bills and commission house
names have fallen about quarter OF q
cent, buyers being more numerous;
quotations are 3i94 per cent. for in
dorsed bills receivable, Si@44 for Job
bers' notes and 4l@51 for single
MANS having four to six months to
run, the latter being in less request
and higher, Asst the future OF money,
the REVEALING opinion can probably
be learned from the little inquiry there
is for accommodation from now TO the
end OF the year and the better demand
and the lower rates ruling for Endorsed
bills receivable. Our foreign exchange
market has continued firm at un-
changed rates. A feature has been
the steady demand for long sterling.
AT the same time there was a fair in
quiry for short bills and cable trans
iers, so that the rates have kept close
to the gold exporting point. A ship
ment OF S267 900 was made on Wednes.
day, but this was understood to be a
special transaction, and the belief is
that Il goes TO Paris. On Friday $685.
0O0more, by the same parties, was with
drawn for shipment today. The weeks
receipts and shipments OF currency, as
reported by the Chronicle, we're; Re-
ceip;s, 81, 900, 600 shipments, 1927 900;
gain, S59S, coo. In addition TO this the
banks gained Sl,5O00O0 through the
operations OF the Treasury and
lost S52l, 900 by export, OF gold.
The Bank Of England gainsd G27O,-
600 bullion during tbs week. This
represents e22B,00O received FROM
abroad and ci4,OOO from the interior.
The Bank OF France lost $4,000
francs gold and l,S75,OOO francs sill
yer, and the Bank OF Germany gained
since the last report 6,590,0OO marks.
The Clearances for the week show an
Increase OF 34.l9 per cent. compared
n with the same time last year. an indi-
cation oithe steady progress that comes
to the APPEAL from all It's cores.
pondents. Trade is everywhere i'm
proving and manufacturers ia ell de-
partments are greatly encouraged. The
4crop prospect, too, is pleasing tae
FARMERS, especially in the Northwest
where the rain came in tins to relieve
their approximations as to the spring
wheat and grasses. Rains in this re-
Won have been to1 heavy. We have
bad more than our share of water and
there is reason to fear that the grass
will be source OF trouble for some
weeks. But there is plenty OF time to
lure such ills and we may reasonably
Expect TO hear by the end OF the m onth
hat they have been cured. An add
= ionaly encouraging item is furnished
y the National Bureau Of Statistics
the figures covering the exports
u breadstufr', cotton, provisio
|nd petroleum for the month of
Nay, which show a gain in values in
hessitemS Of 50, 900, 900 compared with
be same week in 1884, and Of SIC, O00,-
90 compared with 1885. Reports of
ailroad earnings are very good, but
articularly encouraging from the
FUNK lines. Brddstreei's reports good
ocks OF tobacco at most points, and
bat generally fair crop prospects de-
ress prices Of leaf. The visible sup.
" Of sugar is increasing, it being
4l9,09s tons, against l,40S,390 tons
1t week, and l,SS6,7S6 tons at the
me date last year. Those supplies,
ith an outlook for % per cent. more
pet sugar than last year, continue to
spress the market. The first signs Of
Imness in hog products are observed,
] improved European demand being
& main requisite for a pronounced
lynnce in price.