Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1865-12-31

weekly Relew.

CorroS.ABuyIng aud selling Cotton was car
ned ON under difficulties during the week,
owing TO a suspension OF communication with
New York. After the dispatches giving an ac-
count OF the state Of the New York market on
the Saturday OF the preceding w~eek-when Cot
ton was quoted "5l@52 cents and nrm"-noth.
ing more arrived until Friday evening. when
the quotation was IS cents and advancing"
During the interval business had 10 be carried
on ia perfect Ignorance as TO whether the Eng
lish steamer due on Tuesday brought news OF
an advance or ofa decline. Doing business un-
der such auspices is very annoying and may
be the cause OF serious losses. The impression
that Cotton woaid rise in Liverpool was 50
strong, however, that an active inquiry was
kept up, and prices stiffened and even adj
vanced. Toward the latter end OF the week
many holders became so impatient with this
state OF things that they held out OF the market,
declaring they would have a OF IS cents for
Middling, or stand still until the telegraph was
once more in working order and news arrived.
When our last Weekly Review closed, Cotton
stood In our market at AZ TO AZ cents for Md
ding. On Friday, before the news came, twas
at 42js@435 cents. Several lots OF even running
Mlddiing was sold as high as IS cents, but this
was above the market. A greater number OF
Z" lists" of Cotton was sold during the week than
has been obtained before since the policy OF
holding Cotton back for 60 cents for Middling
was inaugurated; indeed, many holders have
arrived at the conclusion TO put their Cotton on
the market when the price reaches As cents.
The dispatch arrived too late on Friday even
ing TO affect the market that day, but a material
advance resulted from IL yesterday and in the
evening another dispatch announced Cotton
very active and full prices at So cents-steamer's
news a y of a penny advance" On Tuesday,
the effect Of this will be felt, in all probability,
In a still further advance. This makes the
fourth consecutive steamer that has arrived
from Europe with tialngs of an advance in the
market there THIS has greatly improved the
position Of those who are holding back from
the market, and they are now enjoying a degree
Of confidence which a long succession OF de-
clines in Europe has severely tried, but not
destroyed. The four advances are not at all in
harmony with the prophecies OF those who
have been bearing" themarket with accounts
OF heavy stocks on hand. 4 recent New York
Cotton Circular, for instance, says: "The heavy
receipts OF Cotton is gradually weakening the
faith OF holders and spectators in extreme fu-
ture high prices. IL is now generally conceded
that the stock OF Cotton in the country at the |
close OF the war, and the present seasons crop. !
has been placed at too low a figure. There IL, |
however, as yet, no disposition on the part OF
holders 70 force their Cotton on the market. and |
the price rails Off very s. .wly." Among
our Cotton dealers the prevalent idea
AS 10 future prices Is as follows: The
largest arrivals which have or viii come
in during the present season were In Novem-
berthe flush of the receipts would probably
he felt ina Liverpool before the sailing OF the
steamer next to arrive-Or it may be the next
but one-and one or the other of these steamers
may be expected, as the consequence, TO bring
tidings Of a check, or, perhaps, a decline In the
rates at Liverpool-the price of Cotton VIII go
to the lowest point 1t can reach this sea-
son, unless some unfsvorable influence, affect
ing generally, shall step in to de-
range business. When that point is passed,
Cotton viii permanently rise, and those who
have held back TIL then, viii reap the reward
of patience and foresight. The following is a
review of the week, day by day
MONDAY Christmas day and no business
done.
Observation-Disclosures unfavorable to business,
which was further INSTRUCTED by the absence Of
any news from New York-in consequence OF
the telegraph lines being bowman obstruction
continued to embarrass business up to the
close of the market on Friday. Middling
WEDNEsDAY-Sales were few, but several
tolerably large lists We're disposed or Prices
better; ia bales even running mid
ding brought 45c. Middling 42943Ic.
THURsDAY.-No change in the state Of the
market, but prices stifIened, many holders de-
clining TO put their cotton on the market unless
they could get 81 or a cents, or receive news
from New York. MiddliBg 421z94S<c.
FRIDAY.-Narket unchanged, and a still
greater disposition manifested TO hold back
from it until higher prices or news could be
mad. Atthe close of the market a dispatch ar
lived, quoting Cotton in New York " 50 cents,
.teady and advancing" MiddIing, i2IcG4S%c.
~SATURDAY-The effect of the news of the
previous day was manifest In an active and
luoyant market, and a sharp advance in prices.
inquiry was spirited, and holders mani
eSted q readiness to operate. In the evening
lnether dispatch from New York came to hand,
announcing Cotton active, and prices fun at
3 cents-steamer's news OF n penny adj
The market closed with a strongly adj
tendency. The following sales were
TO us 30 bales, damaged, at soc; s, re-
packed, at 36e; 80 at 40c, and 2Iat 4le, Low Mid
ling % at 4sc, 1877 at 4Szc, q at &c, s. at Axe,
10 at 44lzc, l7 at 45c, Middling; 1871 at 45c, Strict
Kidding 40 at 46e, Strict to Good MiddIing;
at 4sc, MiddIIng Fair.
receipts OF the week, by river, were s4
'ales, against l,jls bales the previous week.
he shipments were 4,6l6 bales, against 400 {
the previous week.
wNH-.- L