Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1865-12-03

OFFICE MEMPHIS DAILY APPEAL.l


OFFICE MEMPHIS DAILY APPEALhl
December 3. 1865.
weekly Review.
During the last m5nth holders n owners
~ cotton have held out Of the market
he great mass Of the staple in stock. During
ne lat week in october, Middling to Strict
Mfsalfng Cotton was selling at5091 cents on
The leth OF that month, It rose 10 53aS cents,
and on the nth, Sass cents. Since the begin
nino Of November il has steadily gone down.
on he Isl. Muddling 70 Strict quoted f7950c;
stb- 4qa7e 18th, 4la4ici &d, 4sgfsc; Ath,
t2ai5c This statement shows a decline OF 10
cents nsr Mound from the middle Of October 70
the end Of November. During the six weeks
this decline was golngOn, there was the utmost
confidence. on the part OF both buyers ana
sellers, tina, the decline would prove but tenn
porary. and that a basis OF 50 cents was certain
and reliable. That confidence still exists and
Il IS founded on the los stock Of Cottonstn En-
rope as compared with last year, ana upon the
small stocks Of manufactured goods and the
increased demand for them. still, with ateIn-
porary exception on the 2nd andEfd OF NO
vember. the decline has gone on and stil goes
on, and a change OF policy now appearsi mml-
nent II that change come here, Il VIII also
take place In New Orleans, where the same stand
of policy has been pursued, and the stocks
that have been accommodating In the two cities
being thrown at once on the market, and that
under circumstances making early sales de
sirable-tlie period at which Cotton might
otherwise begin 10 go up again, VIII be procras-
tlnated. The strong VIII which sustained the
Withholding Of Cotton from market, has not
exhibited theaame hrnness during the past as
It did on previous weekL Not only have stocks
largely accumulated, but with them advances
also, until the banks have become less ready TO
extend ACKNOWLEDGEMENTS that
dalton has become more and more necessary TO
the success Of the policy. Under these circum-
stances, the arrival of each European steamer
been awaited with Intense anxiety, but the
they have brought to hand during the
week has been Of s tantalizing character.
The Liverpool market has vacillated 50 that no
reliable index has been furnished by which a
iudgment can be formed Wha is wanted is a
decided indieatson in the European market
which will show whether or not there is a Ike
ihood OF Cotton advancing at a period suffi-
GENTLY near to make it possible to hold out
that event takes place. When the Liver
news deeisiveiy answers this question, we
shall know what is to be the fate Of the Sl,OJe
bales OF Cotton now on hand in this csty. The
following is a review OF last weeks Cotton
market, day by day:
MoNpAY.-Buyers and sellers were both in
uferpnt about operating a European steamer
vas due, and both parties wanted 20 know It's
Jews but little was done, therefore, and that
II 4rsafc for Mlddhng to Strict.
TUESDAY.-The steamers news not arriving
little Cotton changed hands, and that at
over prices. Mnddling to Strict, 44951zc.
WEDSEsDAY.-Nsws Of a half-penny decline
n Liverpool threw the market into gloom, and
gain prices were lower. Middling TO Strict,
THCEsDAY.-There was a little rally In the
morning, but the noon dispatches proving I'M
the market closed irregular and de-
ressed. Mlddling to Strict, 4}95c.
FRIDAY.-The morning market started on the
asls Of the previous days rates, but the noon
ispatches were again unfayorable. Cotton was
DID extensively in the streets. and prices went
III lower. Middling to Strict, 4l943Ac.
SATURDAY. - Holders, without breaking
Trough their policy Of holding back for 80
offered a more liberal amount Of Cotton,
nd a fair days business was done. The sales
lcluded; 9bales, rspacked, at Sac Is, Low
uddling, at soc; D at Hkc and 85 at i2c,
lUj at &c, 10 at 43Le, % at &c, Strict
nddlng; q at 44c, and 8 at &c, Good Mid
linn