The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-04-07
orl Is NJ follows.
EXCHANGE.

New York and cities north aud cast. on
demand, = discount buying. New York
aud principal cities north and cast sight
u discount buying. New Orleans, 81 dis
coun, buying.
Selling Ratcs--0n New York, y per cent.
prcmicm on sums below $1,000 $3.50 per
81. 600 premium on sums Of $1,000 or moro;
on Cincinnati. st. Louis or Louisville, $50
per $1,000 premium ON all sums ON New
Orleans, SiJo per 81, 600 ON oil sums. Prime
commercial sterling, SLs2@iS22.
Nothing of interest occurred at the stock
call board session today, Quotations OF the
new az per cent. consols now come from
london, instead ofrho old Q per cents This
j. owing to Mr.. Goschen's conversion scheme
which the London Times says bids fair Ia be
The greatest financial measure II the age.
What the effect of Mr. Goschons operations
Tor The conversion OF the national debt will
be, must Of necessity be attended with some
displacement OF capital, a. money will have
10 be raised IN some way or other 10 pay of
such holders of the new per cents ~ signify
their dissent from the automatic conversion;
hut for this purpose lac has the command Of
the savings banks moneys he can issue
treasury or exchequcr bills, he can dispose
Of the fiS, 600, 600 81 local loans stocks still
held by the government, and he has com.
mand Of the sinking fund. According to the
Eooaomisi, his intention Is 10 deal with the
whole Of the outstanding 3 per cents, OF
which the present amount Is f55s, 10000,
made up thus:
uuuR la
hehn'sd Ihfer '''''''- Nl'sSun
tonsols "Af"''u'
-
Total .......,.
To the holders of new thrces lac says:
''whht / offer is TO pay YOU per cent for
another year. then the interest will be re-
duced To 29l per cent, aud win be paid ut
that rate Tor fourteen year, after which II
will be reduced to ~ per cent, and the
stock will be made irrcdeemahlc for twenty
year longer, or until April. iul3 To the
holder. Of oou-ols and reduced per cents he
oGcr The option Of converting into stock,
which will bear intcr'stat . per cent. for the
year, then interest at ~ per cent I'll April,
1893 aud thereafter interest at The rate of ~
psr cent until 1913. after which the stock
will become rcdccmablc at par.
IN the local cotton market spots closed
easy to-day. Sale, 2iOO bales. Tho weeks
sales wcrc so bales, or i,Si5 bales To- cN'
porter and 3,i,j bales Ia .pinnor.. New
Orleans spots chased steady aud oil l-iGc,
With futures steady and OF . To 3 points.
Az Liverpool business was iairat unchanged
prices, with future, barely steady aud un.
changed. Al llayp April futures advanced
20
New York pots arr quiet. aud ~ 10 The
future market Hubbard, Price & Go. say:
Our market for certificates ruled DUH and
without any particular features. The open.
ing prices were the best l point better than
lai nights, hut la the absence oi any stimu.
laiing influences sellers became aggressive
and values Lost To points, closing at about
6puinis below last nights. European ac-
counts differ We hear from Manchester that
there Is very good business doing and
spinner barely supplied with cotton, while
less confidence u placed In the present
prices oi the raw material Today's selling
u least could be traced 10 houses who, az
srule, operate for foreign accounts"
IMPORTS
Ten hrls apples, 100 SIS bran, ~ pkg
hacon. 100 Pkg boots and shoes ?, 5d2 hu
corn, - pkg cheese, ~ ks coffee, ,iI2 ski
cotton seed go six cotton seed oil cake, "
pkrs dry Fuod-, ~ pkFs c1r, iGl bfls Hour
"a bales hay, isl head hogs. 40 head cattle
10 head har-cs and mules, l0l pklS lard, ~
90 "a lumber, ~ pkgs liquor, - hfls me
ia,scs, LOO bu oats, no brls sugar, ZIG ms