Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1862-01-31
On 'Chaas-Business Newz.

On 'Chans-Basiness News.
There was a good attendance yesterday.
Sales were not large, but they were to a greater
extent than might be expected from the "bi-
ious complexion of the New Orleans inteIi-
gence. In that city, Notwithstanding the passage
of the bill authorizing bank suspensions, and the
vetoing of the cotton relief bill, the market is
dull; the arrivals are IN excess Of the 4 mand,
and a languid market and dropping prices is the
result. The New Orleans dispatches stated that
-four was extremely duh, with only retail sales.
Corn was in fair demand, but under the inHu-
ence Of heavy receipts, prices declined. Bran
was in fair demands at unchanged rates. Wheat,
oats and rye unchanged Sugar duh at former
prices. Only small sales Of molasses.
The aggregate receipts by railroads and steamboats,
yesterday were as follows; 30 pieces begging. 4 bales
cotton, 1856 sacks corn, s head cattle, 2IJ sacks brau, 10
cases dry goods, 4ls sacks and l2ss barrels flour. Is bales
gunnies, IS hides, 40 head hogs, 30 packages hardware. 4s
tuns iron and steel, 90 bareslard, Gs bundles leather. re
pigs lead, 60 barrels Iue, l345 barrels molasses, $50 sacss
outs, l92 boxes oranges o barrels pork, 10 sacks and 90
barrels potatoes 3l5 coils rope, 60 barrels and 81 hogs
heads sugar, 43O socks salt, 20 boxes soap, Al sacks
wheat 90 barrels whisky, q bales wool.
The New Orleans Crescent Of Wednesday re-
ports 70 bales of cotton sold on plantation at
about previous rates, and $50 bales p. {. The
supply of sugar is Ia excess of the demand. which
continues limited. About 1000 horsheads sold
at previous rates. Common to good common u
to &c, fair to fully fair p to Sc, prime to choice
81 to 4c-, clarified yellow Il to sic, white 81 to
&c. + ID. Ihe-sVpply Of moIasSes is liberal.
but the market is dull at easier rates. About
500 barrels sold at I25 to l3c. for inferior fer
meuting, ii to l5c. for prime to choice ferment-
ing, and 10 to lI1c. for prime to choice reb0iled.
Also 500 half barrels at lie. for fermeuting, lS to
lo8c. for prime, and Die. per gallon for choice.
Tire stock of -four is large, and the market is ex-
tremoly dull; $50 barrels superiue sold at 1925
per barrel We have heard Of sales which are
suppressed, but generally understood to be at
lower prices. Bran sold at Sl.85 per cwti Ordi
nary western hay at S45 per tun; India bagging
at S4e per yard prime lard at Zoe, in terces,
and DC. in kegs.
We have copied several paragraphs Of late
from New Orleans papers that indicate a change
u the policy pursued TINS Ear since the war be-
gan, respecting the receipt and expectation Of
cotton. We think we may say that whenever a
European vessel runs the blockade, with a cargo
Of goods 20 exchange for cotton, or brings gold
to purchase cotton with, it viii be allowed to
load with the staple, and leave with it, and run
rhe blockade If it can be done. 1t is also evident
tbat New Orleans is relaxing the embargo pro
hibitiug cotton coming into the city. For several
weeks permits have been frequently granted, and
within the last two weeks to greater extent than
ever before. In view OF this state Of things,
what must 10 the policy of Memphis If New
Orleans allows, at the rate of Il certain amount
per week, cotton to enter her precincts, can
Memphis c%ontintinue her prohibition as regards
herselfl This would be to send every cotton
buyer to New Orleans, TO obliterats Memphis as
a cotton market, for the time being, to leave her
merchants without a share Of the business being
carried on, and those cotton planters doing bust
ness here would remain with all their difficulties
about them, while the planter down the river
would be disposing Of, at least, a sufficient per
ton Of his stock to provide the means Of meet
ing his pressing wants. What would the plant
es doing business here think of their Memphis
connections in such a contingency It hes
been the object Of cur merchants, and one in
which they have been very successful, to draw
the cotton Of the surrounding country to Mem
pbis. Let the surrounding country see that in
the hour Of their difficulty they are le5 in the
lurch, while the planters doing business in New
Orleans are reaping a valuable advantage, and
the efforts Of years, made by this city, will be
rendered useless. Such being the case the mer-
chants of Memphis must, in justice to the city,
the PLANTER, and themselves, reconsider the cot
ton policy now in operation, and make such
notifications as are rendered necessary by the
changed policy of cotton dealing cities on the
seaboard.
This modification of policy is called for, not
only by what is going on in New Orleans, but
by what is taking place among ourselves.
Slight as has been the business done here, it has
been such as to reduce our stock more than one
half We have had this season as much as
400 bales Of cotton in our sheds; at the present
moment we have net a pound over 3500 bales.
We have buyers visit Us every two or three
weeks who take from 800 to 600 bales Of cotton,
and we are all the time shipping small orders,
amounting to perhaps 100 or 125 bales a week,
into the interior. Already buyers fndit difficult
to obtain the qualities they desire, with $500
bales for our entire stock where shall we be in
three weeks with our present policy, even put
ting out Of consideration the change that is going
on down the riyer2 It is evident that internal
Is well as external circumstances, makes impeTa-
lively necessary a modification Of our present
total prohibition policy.
This being the state of the ease, it was with
some establishment we yesterday saw an order
signed Morgan and Steele, Surveyors of the
Port, by authority Of the Military Board" sta
ting that a fter Tuesday next no wagon viii be
allowed to bring cotton into tho city; to do so is
IS prohibited Since the time cotton was pro-
hbited coming in by way Of railroad and steam
/ boat, 8 small amount has been arriving by wagon
from planters living near enough TO the city to
send a little cotton in, and take salt, sugar, dry
goods and other articles out. The significant
point is this proceeding that with all our wagon
receipts our stock has decreased from 400 to
$500 bales. The weather, from this to the end
Of March, viii put the roads into a condition
that viii allow OF little hauling to be done, and
if up to this time the wagon receipts have been
unable to keep up our stock to the point our
business requires, it is evident, even if the pro-
hibition be withdrawn and The fullest liberty be
allowed for hauling, that there win be no dam
ger Of over accumulation Of stock from that
source. Those who haul cotton here from the
country around, are our immediate customers,
and should have the first place in any relaxation
Of the present system that may be made.
Astock Of from 1900 to 5000 bales would not
be too much to give the necessary amount of
choice in quality, for what business we are now
doing. If Louisiana. a. we expect win be the
case, allows vessels that she chooses 20 run the
risk of passing the blockade. to do 50, that
amount will prove little enough for our wants.