The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1889-01-08

Ia DOMESTIC EXCHANGE.
New York and Eastern demand g, dis.
count buying, sight, 50 discount buying, par
selling. New Orleans, = discount buying
81 premium selling. Cincinnati, st. Louis
and Louisville demand 81 buying, par sell
ing.
The following from circular issued to-
day by the Manhattan Bank, with reference
10 the local securities market, will be found
OF interest "Since our last monthly circular,
prices of invcstmcnt securities have advanced
and they are in good demand. The annual
returns of our diyidend-paying companies
have been in the MAN. satisfactory, except.
local insurance companies, none Of
I'm have paid any dividends during the
n. Non-diyidond paying stocks have
btn dull and weak. As all Taxing
IDistrict bonds now bear o per cent,
We cease quoting H-Gs" and quote them
instead rs Taxing District rs due 1913,
likewise "flippin Bonds, Stlmpcd,' will
hereafter be designated as Memphis
Compromise 6s," due 1907"
The bank clcarings for the year 1883 were
Ni2 ,5i0, against Si0l, III, 377 for 1887,
an increase OF Sl00J0,li2, or about 10 per
cent
INSURANCE stocks are almost too duh to
quote.
prime bonds have gcuorally advanced, In
some cases handsomely bank stocks are
practically unchanged, while speculative
stocks we're rrcgulnr-Amcrican oil having
advanced during the year 2lLc. Tennessee
Coal Sc, and Mississippi & Tennessee Rail.
road Stock l2lsci while Louisville a Nash.
willie is 5Nc, Memphis 4 Charleston Pc,
Memphis Gas Light l5c, New South Land
Company 55isc. Cotton Exchange Stock
SIC, Masonic Temple ne and Merchants
Cotton Press l0isc lower than at the CORE.
spending time last year
Although the season has been late aud
the movement Of cotton somewhat sluggish,
money was at no time especially stringent
There have been few moro than the usual
amount Of commercial iailurrs-thc plain
aud inevitable result OF ovcrtmdng-but no
-nnu.uslly haavy ohcs, and our merchants.
A. a rule have done reasonably we'll. We
tcc no reason why, with an adherence 10
conservative business rules and confidence
IN the unusual advantage enjoyed by this
centcr-iortunntc ~ is her geographical po.
sition and blessed as she was aud, In our firm
belief, always will be-, with good health
the year 1859 should not be- prosperous
ono financially; only We must not expect
too much. Prosperity aud confidence SIM
ply promote Legitimate business aud stimu.
late reputable aud we'll managed industries;
they do mo-, in ans way, and cannot In any
way. make roses grow upon ihistlcs, or con.
vert bubbles into solid natter
The local cotton market closed firm. with
sales Of T. 80 bacs, oi which 400 were .,
exporicn and 2Go0 10 spinncr. New Orlcan'
spots clo,cl quiet, With futures steady. Jan
nary. OLD points other months declined st,l
points Liverpool closed firm. demand good;
futures weak at decline ot point The
New York spot market closed steady, with
futures steady NJ decline Of il@i2 points
A dispatch from New York says ''Today's
cotton market shows decline Of some II
points a. compared with saturday. The de-
cline the mus, powerful bulls characterize n'
healthy reaction. while the bear cxult In
Il as nm evidence Of the inherent weakness oI
the position. The close herr Is barely steady
nj the lowest figures of the day"