The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-03-05


Money Is in good supply with rates firm at
3 pcr cent, TO all bank customers who re-
jcciye ample accommodation.
/ The clearing house report Is as follows
SATURDAY, March o isss~...s ttl,7ol " e,.in q
Total this k."~"r...~ 2co92N 9, :sSS s,,I y
Total last wcck.,s.;s. a 4ss,cH Ss eSGsSp NJ
Cone pondlng lime 1850. 2,o37,SSi "a iSois' Is
EXCHANGE.
Now York aud cities north and east on
h Remand, =. discount buying. New York
ana principal cities north and east sight =
A discount buying. New Orleans, s. discount
buying.
n Selling Ratcs--On New York, = per cent
4 utcmum ON sums below $1,000, $3.50 per
1 900 premium on sums OF $1,000 or more
A on Cincinnati, st. Louis or Louisville, sl.5O
4 pcr q, 600 premium ON all SUMS on New Or
leans. $40 per 900 on all sums Prime
commercial Startling, sLss@i.seH.
The only transaction registered at the stock
q call board meeting today was the sale OF five
shares Of Mississippi 4 Tennessee railroad
stock at rs cents. The Manhattan bank, In
its monthly circular, issued today says:
.'Slnce our last the market for local socu.
rites has pursued the even tenor OF It's way
A THAT Is, the same features that have gov
a ernod Il during the past three months con-
finuc--a steady 10 strong market aud good
4 demand for investment bonds and invest
/ ment stocks, and a dull and dropping market
for speculative stocks.
"Tenncssec Is have declined iIsc from tho
prices of four weeks ago. This decline has
not been caused BY any lack Of confidence,
but from the fact that q large alnonnt OF the
States old indebtedness has lately been
funded, thereby increasing the amount on
The market While, In the past, We have
spoken aloud and spared not In relation
10 what We then considered had faith on the
part Of the State, We have no hesitation In
now stating that we believe the present
status Of the State debt n secure ono, and
that the interest ON the States present
debt, "a settled, will be promptly met right
along.
taxing District bonds ale III fair demand
st unchanged quotations. II may not be
amiss 10 remind our friends that, ai present
quotations, the 9Gs' are fully l4@iho
cheaper than the Ts,' for the @-Gs' will
become Gs after this year, 70 that the differ
encc between the two issues will soon he
only nominal.
mississippi a Tennessee railroad bonds
suddenly sprang into activity during the lat
Ger part Of the mosih, and 40 was openly
bid for the Series n bonds, and 40 for the
ferics A bonds. We understand New York
capitalist was the purchaser.
''Dank stocks have ruled quiet but firm,
and Insurance stocks appear 10 have become
nrn at their rcccnt decline We hear Il
whispered that ther 4 a project afoot 10
solnbne some Of the smaller and
one or two Of the larger companies. This
would be a contamination dcvoutly 10 be
wished by the tired holders Of these stocks.
Tho feasibility Of such n union has, In
our opinion, ceased to he question
Of profit but has become one Of
slipre-erstion, under existing conditions,
"MemphIs Gas Light company stock has
been unquestionably weak; yea, almost PAN
seky: yet We would not he surprised. aud
even expect, 10 zee that when the smoke of
battle has CLEARED away. few shrcvd and
eool-headed people there ar always few
Of such) will have pocketcd snug profit by
buying AT Just such times ~ these.
"Merclants Cotton prcss aud Storage COM
pany stock has not rallied much from the
Staggering blow the frc fiond' dealt u las,
November. While the directors OF the com
pany pooh.pooh the idea Of the ccmpany''
liability Tor any heavy loss ocsnsoned by thu
ere. yo, the facts that speak louder thai
words src that while the officers have ~
-. II. -. A..
strengthen the spirit Of the stockholders
Che stock still shows q decline Of fully y
esnis from The point At which II stood fou
months ago and IT, directors do not appea
a. he buying any stock. sun, We do no
xisll 10 bo understood a. discouraging Ia
>csiinent in u; the amount OF stock oiicrin
n not large and a few buying orders woul
soon send Il up several points.
''renncsscc Coal and Iron company stock
about 10 lower than Il was month ago, b.
sbc bonds 81 the company have adyanc,
steadily during the past three or iol
months. Eahy last TALL they sold down /
Zoe Since then The company has paid a
pr cent coupon on them, and the bonds n
nov selling at sB's@S5,fc. Tho oaning-
Che company show we'll, and We believe n
fiock 10 be a purchase nj present quotation
o. such people a. can Afford opay for II an
lay u away"
The following was posted nj the Cotton G,
<lanre today by Secretary Hotter
For the purpose IL showing the amount !
E The cotton crop OF isss IS. in sight, 10 N
latest available data, the following sialcmci
y tuhmiticdi
Amount IN sish, n narrh7 as shown ~
The regular weekly riaisincnt Of the
Memphis oulon cxolllngc.. ............ o. -
Overland movement Dor February, ell
hiNf'tlIiIHsii a.
fle'l II 100 "unoounlci towns" February
p ~ reported By nrHdsifcCis. ....-......... ipll
Total 10 lrht.................... "a.
The local cotton market closed quiet, wi
Nles u 40 bales. New York spots clos
saet aud an Idle aud as IA the fuiurn M