The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-09-07
. EMPHIS APPEAL.
TUESDAY, /: SEPTEMBER 2, 1855.
THE BUsINEss SITUATION.

4nO AOWGRaPCAo COh
tinue to speak in the most Cheerful
terms Of trade, present and prospect
tive. The New York Bulletin says that
'tanother symptom Of improving bust
ness is the fact that lsks freigh,s have
received further impetus this week I;
and as about all the available tonnage
at Chicago has been taken up, the
movement cannot be regarded as fic.
titious or momentary." The oil and
lumber trade continue to employ more
vessels. The Buffalo wheat carriage
rate is higher, both on railway and
canal, and the New York Times thinks
there is hardly a possibility OF grain
Heights declining this season, while
the Bulletin states: "The prospect is
good for all classes OF freight, and own
els OF vessels are already beginning to
congratulate themselves on prosper
ity that has not visited them for sew
eral eeasons." The same authori-
ty also observes: "The extracts we
make elsewhere from our CONNER
cial exchanges, from leading distribut-
ing points show that the fall trade is
now under full Roadway, with results
that, as far as they 90, NUT be ac-
cepted as highly satisfactory" With
activity in freight and favorable trade
reports, the improvement In trade is
beyond doubt. That the improve
ment is no sudden squirt" Is most
favorable feature; improvement that
comes gradually remains permanently.
Especially 1t is to be remarked that
the improvement is not speculative
in its nature. The Clearing House
returns, given on our seventh page,
show that last weeks total clearings
showed an increase OF 81 per cent.
over the corresponding week last
year. New York contains Wall
street; putting it aside, and taking the
remaining reports, we find that the
increase was 2l.5 per cent, which
speaks well for general business. Dot
OF thirty-two cities reporting, all show
increase over a year sgo except five
Providence, New Orleans, Peoria, Port
land and Springfield; Memphis's in
crease was 1914 per cent. The Treas
ury statement made September LIST is
not favorable one. The Bulletin rays
that 1t is distinctly disappointing"
the Indicator remarks: Gas far as last
months finances are concerned, the
showing is not highly satisfactory.
When we come to examine the Treas
ury statement, we find that the net
gold in the Treasury decreased 81 ,2OO,-
III, aud the net silver 81 ,729,3l7,
while United States notes increased
s1S,649,5O5. This increase 10 made up
by an increase Of about $5,7O0,0OO In
United States notes in the Treasury
and the decrease OF $S,0O0,000 in cur
rency certificates outstanding. The
decrease in net debt Is only 81 ,9l0,699
The interest bearing debt was re-
duced $5,5S9,0O0, and the debt on
which interest has ceased $609, 1855
There are nearly $54,OO0,OO0 oi
bonds subject TO redemption in the
next thirty days" An exchange paper
remarks: "a great deal Of the gold
that is now on the way from Europe
to America, az we'll as OF that which
has arrived In the past few days, could
not have been sent on merchandise
account, as the balance in our favor In
that item was not large enough In the
twelve months ending with June Oh
July to cover shipping and attendant
expenses. 1t came, therefore, as pay
ment for American railroad and othel
securities, which are once more be
ginning to End favor from EuroropeaI
investors" The condition OF thing
in Europe Is very unpromising 10
peace. Russia is assuming al
amount OF dictation In Bulgaria thati
causing anxiety In England, German,
and Austria, while France threaten
to Join with Russia in case that powe
should be at war with Germany
Should an important European wa
break out, q demand would arise 10
our breadstufis and food products {
al kinds, giving q general stimulus
trads. On the contrary, the demau
for money that would ensue woul
Cause American securities held In FL
rope TO be returned 10 Nv, with the ol
ject Of receiving gold in exchang
Son hern journals speak cheerfully
general as to trade, and the New Yol
Indicator remarks: "There never WI
60 great sctvity in the South in Il
building Of new iron plant, openir
new coal mines, extending their co
ing works, aud so on" The same p
per says: "About this time next ye
you may lock for movement in Ea
Teunesses's rev securities. The REQ
ganiSltion Of the company has bee
upon a sound financial bssis, and u
new securities are all Of mel
and value" The IRdicdt
MS the hcpeful spirit Of the d
when it Gays: "To make O genel
summing up, business prospects We
never better than now, and with t
renewal OF confidence there need L
be aoy fear Of more than usual
tivty in trade. The railroads are
maxi, & monty, aud have time to fig
If they wanted to do it. Besides, sh
pers sre buy trying TO get ireiS
room, instead of hunting fer {
rates" Silver has slightly receivers
and quo'es in London 42sd an oun
which makes the bullion value OF
silver dollar 72.4S cents, tay 72l Ger