The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-11-30
ru1 nusINEss SITUATION.

THE hOsANBSN
The trade reports generally express
atisfaction with last week'a business.
Railroads are building with the pros
pee. Of great activity when the spring
opens, and railroad reports are very
satisiactory, especially in the South.
The New York Tribune even, the paper |
that believes nothing good can come |
out OF NsxMeih, says: Judging from
the stock market one would fay that
the business boom bad gone Sou!h.
But TIE enormous growth Of industry
and business at the South is just now
on every body's lips, and the Count Of
Monte Crisio is expected to arrive from
that direction every day. LAST week
speculation in Southern stocks lifted
the general svera.e for sixty active Sc
culities above $40 per share, the high
est point touched sincs the summer OF
1883, before the collapse in Denver
and Northern Pacific" After showing
the actual advance in the earnings OF
several Southern railroads, the Tribune
adds: "Thete figures show that there
has been real improvementin Sou bern
railroad trsiiio, as in Southern indus
try generally, and greater than in the
North western and Eastern section, but
less than in the Northern Central
States" The 81. Louis Iron Age joins
in the cheerful strain, and declares
"that the magnificent industrial pros
poets OF the South are probably ss
active in attracting capital to her rail-
WAYS az 10 her coal and iron fields"
The New Orleans Picdytns mem
ions a statement Of importance,
should it prove correct, "that
whereas at this time last year only
go per cent. OF the worlds ocean
tonnage wss in commission, now 80
per cent. OF it is al work." Money is
fairly easy, and the financial condi-
ton is strong. The Bank OF England
is increasing its stock OF gold, and will
probably lower It's 4 per cent. rate,
which has been maintained to check
the flow Of gold TO this country, and,
therefore, there will be no scarcity Of
that metal, espe ,ially il the stocks Of
our best railroads are In increasing de-
mand In London, the rate there going
beyond the Wall street quotations.
Silver has undergone some fluctuations
this week. We quoted II a week ago
at 4ef pence an ounce on Wednesday
the New York Bulletin quoted II at
Az l-l6, but on Saturday at 46l
pence. At the latter rate the silver
in our dollar is worth 1919 cents.
The cleArlngs Of the last week show a
decline on the total reported Of Q per
cent, but excluding New York there
was an increase Of s 9per cent. as ccsf'
pared with the previous year. The
decrease is owing to less actiS fifty in
Wall street than there was q GEAR ago,
and bahks are no. extending loans on
"iancy" stocks, OF thS thirty cities
reporting, eight show a decrease az
against last year, foi these, only two
places are materially above 10 pei
cent. decreassg they are New Orleans
which deCrSdsed 22.4 per cent, and
Lowell, yhich was $50 per cent. be-
low tho corresponding week last year.
Memphis was 1919 per cent. ahead Of
Agar ago. The New York Indicator
reports the following: EAST Tennes-
see bonds are being bought freely,
and thestoCks will soon be in demand
Thsy are too cheap to remain long al
their pHssnt price. Tennessee Goal
and II, sold al par at the opening
yesterday. 1t Is still cheap and ought
to 80 to ITO quicker than it did Il
par from 90. Memphis and Charles
ton opened per cent, higher than Il
closed Friday, aud gained four points
beside. There is nothing to fear in
buying shis stock, even at the advance