The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-03-23
rmE xusIS,ss SITUATION.


THE RUsINtss sITUATION.
The clearinvs Of thnt5 United
Mates banks, as reported in our bu,i-
sneas Columns, still incj safe improve
mont. Whether the increase OF foam
4 e,ial tTansact;ons the Clearing TePolt'
shave given a late really indicate a
corresponding improvement in the
Condition Of eeneIsl trade has been
vailed In question. This is upon the
lroand that a larrc portion Of the
1ransaCtioDs for which money is re-
c,uired are Of speculative chGrscier,
iuch as the holdineof large gu ,Dtities
81 wheat. Theee transactions, al
Enough outside OF Legitimate business,
4 phow the belief mnong capitalists tina
4 Al more active business period lies in
The Immediate future. The ext snsive
imports now arriving are an indica-
ion that practical business men enter
Jain similar expec ations. The extent
bf the speculative demand for
thoney should be remembered
sby the cautious in their f,re-
,'pasts Of the bu'i1ess prospect. Oar
photographic clearing report shows
flolal excess Of clearings last week over
Ahe corresponding week last year of 40
,,per cent, or, excluding New York
dlhe principal seat Of the speculative
i n3omand for m oney-22 per cent. Chi
4 t,faQo's share Of the increase is IL 0 per
..per cent, Louisville IL, Cincinnati
I 1919, Kansas City 4i0, New Orleans
+ r18.0, Memphis 4l,9; Sc. Louis shows
4 decline OF per cent. Only six cities
4 <'bhow c'earances below the same time
/ blast year, Of which the greatest de-
4 prrsase 10 10 4 per cent. This statement
4 ,bhows, leaving New YORK with its
wall street out Of the case, that the
4 1biearings are advsncinRf lar beyond the
4 btalemenis ct the opening Of the year.
Some gold Is exported every few days,
4 libnt q. rates that are notvsry profit
1hble, and no anxiety is manifested
4 concerning them, A New York dis
patch Of Friday reported: "Gold
j Expectations from New York to-
day amoun ted to $1,2O0,o00, max
. ing $4,527 COO for this week, and
4 $4,000, 0l0 since December 22d, when
4 the outward flow OF specie began. The
i movement has not been spasmodic or
4 active at any time, nor have events
been anticipated by heavy shipments,
i but q steady and even How has been
. kept up which begins to aggregate an
amount worth considering, not that
i thig country cannot spare the dram,
4 1but rather that q condition Of trade
. fhhould exist that allows steady aud
. uninterrupted stream OF gold TO Cow
. iaway from us In the face Of our large
FBurplus OF breadstuffs and provisions,
NIt Is true, no donbt that Europe is
sending back American securities in
. Nblock, which are being peddled out in
WAL street, and in settlement OF
(which gold is sent abroad, but all that
4 kind OF speculation is spasmodic and
Soi short duration, hence it is within
. fboundJ TO say that all the recent ex-
fporia.ions OF specie will fad their way
I tback in the near future and most j Se.
NY bring good round sums of European
kgold with them" ST. Louis in the litt
aabove shows decline in its clear
ings as compared with year
{ ago, but Saturdays Republicans says
"Nearly all the banks enjoyed a better
business to-day. Offerings Of bust
ness paper were heavier, and check
ing and depositiDg showed consider
able increase. Interest rates are still
held at eos per cent. on acceptable
loans, and at 496 per cent. on collat
eral call" The Louisville Courier o
Saturday reports: THE demand foI
money was small, and while the cur
rent movement is light there Ia
steady and moderate accumulation o
idle funds. Rates Of discount wer,
unchanged, the quot ations beiRg sac
per cent. for demand. There wa
no difficulty in pacing good collatera
90 as 10 secure money at 5 per cent
on call" New Orleans has beel
making a better show in IFS late cleal
ing reports, but the Times Of Slturda
says: Locally there has been it'll
slackening in general trade, especial
in dry goods, hardware, ETC., an
sugar has been dull, while cotton an
rice have shown more liie." TIL
Nashville Onion Of Sunday reports
good business at the banks, wit
money easy and in good suppl,
more thai can be sat'sfActoril
placed; money is In light dC
mand. Tue New York Tribune {
Saturday reports disposition to exRl
qerate the amount and impoTtauc
Of the gold exports; re-expoititioI
are often improperly regarded as orig
nal. Money was easy in New Yoi
att 10 2 per cent, occasionally 2
In trade matters several importal
centerg are disturbed by the labC
troubles that are 30 prevalent, amor
them st. Louis. The number OF STRIKE
% various parts Of the country is al
preeedented, and the number Of me
ont Is estimated 10 be $1,000. Tn
circumstance affects other cities tia
those ia which the strikes occur, au
limits the amount Of business helo
what the more genial weather a III
past geek would otherwise have PIC
IuoeH