Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1862-05-29
Hurniug cotton ia 'lse Confederate s'"'s-

HkHHUAu@ EDtsoA IA -t'iAs't-Stst5-'
From the Nashville DiparcH of 'bs l5fh inst
Il seems 60 be pretty certain that the cotton
destroyed along the Mississippi and Red rivers,
since the capture of New OHc1us viii amguut %
fully 100 OGO bales This would haze realized
TO the holders, at the prices current in New Iorl,
at present something like $i2 2ouuUoG or up
wards and at q low estimate 30 Is q sacrifice Of
several million dollars ON the part ut The hulieE,
bat the New Orleans DciiF SAWS -fuaT claim uo
commisarati0n or sympathy 'ar sbe sacrifice
The wholesale destruction of cotton which
seems thus to have been InaurUIH'd- Nlll exert
a powerful influence upon the cotton markets o.
the North and Europe, ass well, as tga Data oI-
presses it, as send grief aad misaGirs 90 the
great mauufacturl < gc5mmuun.s af The world
In regard to the former position, we see itset-cts
upon the New York market already Iba New
York Herald Of the 10Th says: The cotton
market was much sgitated HUd excited yesterday
| by the reported destruction ut large quantities of
| NE 4tau1- in New Od-8us stated by erWa I.-
matches 10 have amounted t. tac large quantity
Of II 900 bales, or to about the total stock in
| that market
! Statements were also current that 2 similar
fate had beiallen the cotton at the river landings
| for a long distance above New DTiaGas. Ike Ia-
/ suit was that the market here speedily Gdvauced
! from lc. TO a. per ID. Il closed the day before
at 26I for middljng uplauas. Yesterday It
closed stff at 27A TO 2-c., with sales TO the Trade
! of 1915 bales. a government public auction
sale also came off earlier i'm the day and before
/ the effect Of the news was developed. IL com
prised l6O bales of Sea Island, OF small weight,
! at an average Of 81
! Should the destruction Of cotton be- anything
! ike universal in the Cotton States. there Is
no telling where prices win stop 'u their up-
ward career Some months ago upland mid
| ding cotton sold in New York atgs-sc. we be
! lievo Subsequently it run down 70 about zoe.
! Since then it went up TO within 81 fraction OF 5Nc
| We now find It Taliviug from he descending
scale. and IL recovered from ona to one aud q
half cents in a single day. II this effect should
| be produced by the reported destruction ct the
cotton stored in New Orleans alone what must
| be the effect OF the destruction of immense
quantities, an event that now seems probable
! Added TO this, we have the fact. which seems TO
be well established, that bus a very small belt
of land has been planted la cotton this year in
/ the 30 Cotton States We must linus see that
high prices for cotton must inevitably eusue,
| unless a stop BE- puL % the destruction Of the
staple aud even then, high prices must pre-
vail. because q crop cannot now be planted ths
| year The raw material being high, every KIDD
! Of goods manufactured out of cotton HiIl ueces-
/ sariiv command high prices.
Every arrival from England brings US accu-
mulatinr evidence of the distress aud want that
prevail n the manufacturing districts there for
/ the want of cotton; AND, as the New York
! HOrid remarks opinions are unanimous that the
! distress is likely to grow and become more eE-
! tensive and severe than any which has ever been
| known IN Great Britain, except that ID Ireland
| few wears AGO. and excepting chat only because
! Of he deficiency Of food which tbiu added
famine 20 the general lmPoveu hment