Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1862-04-25
On 'Change-Busiuess News.

Nothing Of Importance doing on our Change
Yesterday. The receipts were: I5 sacks bran, 3 sacks
beans, 927 barrels beef 1 cask bacon, 43 sacks corn, y
sacks aour, p bales hay.
The New Orlesns Crescent Of the 22d says:
Sugar is still selling at irregular prices. Some Of the
transactions were at Sc. for fair, and &c. for white clari
fed The sales of mOlasses embrace about 1870 barrels
at fuller prices FermentinE lie. reb0iIed Il. Is and Toe
per gallon. 1t having been intimated that several Of our
banks were DESTROYS Of being relieved Of some Of their
coin, there were manye calls at the counters. The Bank
Of Louisiana paid out coin through the day for all old
circulation. The State Bank paid out 50 per cent and
the balance IN currency. But this was not satisfactory
70 some bill holders, who preferred 10 retain their dues,
and were willing to hold on in preference % taking silver
coin, which is somewhat bulky. At the Mechanics and
Traders Bank gold was paid out freely throughout the
day. At the Union Bank they were paying out half and
half At the Canal Bank they were paying out some
thing-we were told redeemIng circulation in full In
tact, there was more specie moving about to-day than we
have known for a long while.
We observe occasionally the issues Of the State Of
Mississippi, authorized by act Of the last Legislature, in
sums Of two dollars, five dollars and upwards. These
notes are designated as cotton notes. They are secured
in the trst place by the cotton OF the planter. based on q
value Of twenty dollars per bale; secondly. by two sddi
tl1nal individual securities, that Is. only twenty dollars
per bale Of 400 pounds is advanced by the State in thes
notes. Some few Of these notes have made their ap Gear.
ance in our city, and have been received as currency.
We are not aware that anything should i~nterposs why
these notes should not pass as currency with other repre-
sentatives OF money, nor why they should not be received
in payment Of merchandise and ordinary changes Of the
day They are receivable in all dues to the State Of
Mississippi and counties, that is, for taxes
In a circular issued about the middle of March, Messrs
Nein Brother, of Manchester. says;
tits thus evidently futile to look for any early reopen
ing Of the southern ports; and even wers il otherwise.
very little cotton could be brought down before the sum
mer fall Of the rivers, Prior TO this date last year up
ward Of 3rOOO,OOO had reached the ports. leaving only
$4,000 to be subsequently received. This season we
have not yet heard OF any receipts, and the exports do
not probably a. yet exceed 5000 bales. This however.
may be increased by 2O,'0l OF 10000 during the rem ain
der Of the season, by vessels running the blockade. Till
last month the stock in Liverpool showed the great fall
ing of relatively to last year, but the discrepancy is now
becoming great
The present and immediate prospective supply Of
American cotton, a. compared with this time last year, IL
A. follows: lS62-At Liverpool 100 600 bales; a10at, nil
ls6l-At Liverpool $4,000 bales; af0at, 2g5,OOO bales
Total, l,OlS,OOO bales, showing a decrease Of $4,000
bales, besides a~probable reduction of 10000 bales in the
stocks In spiuners' hands.
The deficiency is. however, il some degree mitigated
by the supply from other quarters, viz: Surat On Liver
pOOD, ls62, 100000 bales 1861, 10000 bales; other sorts
1862, $1,000 bales; 1861, 25,UU0 bales Surat afOat fol-
Liverpool, 1862, 100000 bales 1861, Iss.GOO bales. Surat
ahoat for London and the continent, 1862, 1000 ba es
| 1861. $4,000 bales. Total, 1862, $4,000 bales. 1851, 599r
900 bales; showing an increase of 10000 bales. 1t II
| gratifying to be able to state that East India cotton is
daily increasing in favor, and many spinners are altering
their machinery 70 suit it. The loss In weight uudOubt-
eddy considerably greater than on American cotton, but
not in proportion to the present difference in price. Yet
this difference in price will probably be maintained, a.
American will shortly occupy the position of "a fancy
article" for which more than its relative value will be
given for certain styles of goods, for which other sorts o.
cotton will not suit.