Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1866-03-11
COMMERCIAL.
WerkIN

Corrosive have 40 cheerful story TO tell in
our review OF he week-it has been a week Of
quiet and stagnaiion, relieved but by The in
terval OF n single days good busineSs-it has
been a week OF falling prices, and the week
closes with Cotton standing at lower rates than
'hey have been az any time since the first week
oithe season IN September, when Cotton sold in
memphis st - gu9 30 cents, the rate that pre-
vailed ON Thursday. but cannot ba obtained
now. Our last weekly review le1 the market
cheerel by an advance ola cent in New York,
where Cotton was quoted at a cents. BY Mon
day morning Uia alyance was lost again, and
gloom and depression followed; holders have
been SLOW 10 lower rates in accordance with the
downward scale of New York, end the limits
imposed on buyers dld not permit them to ope-
rate until The descent was made. on the very
day holders did concede TO the viows OF buyers.
came Intelligence from New York that quickly
dimmel The mOmentary CLEAN. andlena gloom
more profound than had prevailed before. Two
steamer arrived from Liverpool. each Of them
reporting "A decline Of one-fourth of a penny.
cold also underwent a heavy tumble; tho.
newspapers qnotrd 30 one week ago. March 81.
@14; This week, the 10Th, it is 38lz. Cotton at
the former dale stood al a cents in New York
nov i9e4lz cents, and dropping. The decline
In Liverpool, added 10 the rapid descent OF Gold.
necessarily alectedthe Cotton market strongly.
bringing down the price. The decline in Eng
land is consequence OF the continuous large
receipts at our ports-the check they have ex-
perenoed not being known on the other side
when these declines took place-the arrivals
There ofgneEpeoted shipments from India; and
the SLOW return Of bullion 10 tbs Bank OF Eng
land, notwithstanding the high rate Of discount
imposed. As bullion Is now Increasing in that
bank, however-so that the rate has been re-
dueod TO per cent.-as the stock in Liverpool
on the 9th Of February was To-, so bales less than
nj the same time the preFiOgs year ana as The
English s%pinners have nc stock on hapd. but
buying from hand TO mouth, Improvement
I'm price in Liverpool may be looked for whea
the check on receipts on this side becomes
known there Against this probability must lac
reekoned, however, the fall OF price here. and
the weakness Of holders from the fall OF Gold
The effect Of the growing belief that The peeroes
VIII work well and fair crops DO raised for the /
next season and the distress existing In tbe T
dry goods market, which will cause a de,rsasa5
for Cotton on the part Of our own snin-
ncrS. The fluctuations in Gold viii. Of oonrss
affect the price OF Cotton, and what thew
are likely 20 be, this Is not the place 70 discuss
In estimating the price o Cotton. IL ShouIa NOT
to be remonbered that the rate NAV AT one
date appear 20 be lower than on a former 4
date, without being really so-for instance: AT
uhat time many holders Kept their Cotton out of
the market. resolved not 90 sell it for less than
30 cents "A pound, 81 taking q IS in greenhacks
10 buy 81 ia Gold now u y In sneenbacks will
purchasa 81 ia Gold, IL Is evident thai Cotton
might be sold for considerably less thar SOC. PEI
pound, and YET precisely the same value re- !