The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-08-01
BY TELEGRAPH.
Money. no.a. aud stocks.

NV NoRE, July M.--Moncy ON call easy
nt l0Ilh per cent Prime mercantile paper,
iCe0h per cent Sterling exchange very
weak, with actual business at Ass for
sixty day bills aud fi.s7 for demand.
Government bonds wcrc dull and steady.
State bonds we're dull aud steady. ~
The stock market was not only again
strong. olntinuing the advance which has
lasted all through the month, but IL showed
n largely increased volume u business, aud
gave evidences broadening out materially
The strong tone made itself pparcnt at the
opening aud was prominent all the way out.
with but slight Interruptions aud almost ali
the active list IL materially higher this even.
ing. The features of the day were Western
Union, which felt the full stimulus Of the
agreement 10 rcstdfc rates by the cable
companies aud Union Pacific, which AL.
yanccd steadily ON large business on the
adyiccs frum Washington that the Senate
hal received favorable report from the
committee on the Cultivate bill. The i'm.
proycmcnt however, extended all through
the lisi aud the strength In Western Union
Was reflected In the rcst II the Gould stocks.
which were more prominent than usual VI
late. The news u the day was 81 gcncr.
ally favorable nature, and the report of the
damage 10 the corn Crup In Kansas
by hot winds met with no response In the
stock market Other crop news was Of
uniformly hopeful nature aud this, with the
efforts 10 again bring about n harmonious
feeling among the granger roads, and those
stocks were very prominent for strength
throughout the day though 81 Paul WAS
very weak NJ the opening. The shorts in the
stock SOON began 10 cover, however. aud the
stock lei the advance during the FORENOON.
The conlrrs still reflect the improved out.
look In the trade and while the rain In
them VA moderate thcv Nerc steadily
strong all day long. Many " the spccialtirs
showed n marked increase IN the number u
shares sold today aud several displayed un
usual strength, Wheeling a Lake Erie and
Pullman being specially conspicuous The
fOwirh buying vas still a feature II the
trading aud their was further reduction
IN sterling exchange rates tuday There
were considerable raliring sales for London
account In the early morning hut the pur.
chnscs u other stocks fully ncutnliEcd the
influence Of such sales. There was n mo,cr
ate business AZ the opening which was
strong Tor everything except 81 Paul but
the market began 81 rise Immediately aud
the volume IT business Increased rapidly
81 Paul led the advance during the hnt
hour aud -pun gaincd over a point, while
the improvement In the other shares WIS
confined ~ fractional amounts only
The market continued active 10y spufis
alternating with periods ~ dullncss and
siagnaton, but the strong tone VA prum
incnt throughout, The market bccamc quiet
in the afternoon, but the advance continued
uninterrupted, and IN the last hour there
was more animation, with q murr decided
advance throughout the list The close was
fairly active and strong az the best prices II
the lay. The active list u almost invariably
higher this evening and Pullman ruse per
cent The failruad bond market failed ~
RESPOND ~ the imnfuye,l business la shar,s
and Sa quiet 10 dull throughout the day.
the sales II all issues agJsvgaiinr only
81, 2Jn,na which wAs very evenly distribut.
81 over the issues traded In. The total sales
Of stocks today were g7a, g'5 shares. Closing
quotations.