Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1866-01-14
oomMERcrAE


weekly Eleiew.
CoTroS-Ths last week wasan evsnrnionei In
Inc years history Of Cotton. Thus far since
the season opened, the course Of specuiation
on the subject Of price hss depended upon the
views Of those discussing the point as to the
amount Of the supply TO come In Agitation
tossed Its pillows Between the limits ofSeere-
tsry MoCplloehs L,s0,Oo9. and Esil Bros.
2le0,6o0 bales. During the last week new and
apparently powerful element came into the
prohlsm-the relations between Currency and
Specie changed. and Gold that had been 81 a
premium Of Sc at the opening OF December
came down 10 CSC the first week In January.
Gold was falling, Geld was tu1ahing about Ike
"A bark on a heavins sea what, then, was Cot
ton 10 do-9hat were al prices 70 come TO-
Buying aud selling iFRs like measuring lumber
with an India rubber foot rule-poW stretched
to vast proportions, now shrunk 20 oiIainutiye
dimenslons. Cotton had long been . ticklish
business, but what had It come TO now 2 SO
asked Eastern spinners. who autographed
one day to cancel orders they tsle-
graphed the next 10 renew so thought
sellers who rushed out with samples
under their arms aud converted Front street
into a Cotton ofice SO thought buyers who
looked upon Cotton as a temptation, from
which they were bound earnestly 10 fee, and
! FAEEll1 70 NAhN A0E 0GAANNAa1NNs nus ~
like the adherents OF the Stuarts after English
rebellion, and the Bourbons after the French
one, continue loyal 70 the Cotton which they
believe IL ever king. staid quietly In their
Offices, and when orders that were Imperative
came 10 them, they would not bate Jet of the
last weeks prices. Between these stubborn
sticklers FOR the monarchy OF Cotton, a2d the
excited dealers whose Cotton tables were the
heads Of empty barrels and the side ST scat
tered boxes, prlces-like Maebsth's retiring
guests-feIi into most admired disorder.
During the last day OF two, as quiet has re-
sumed her sway, and g cool survey shows but
one cents difference between Saturday weeks
price and yesterday'-the former day 40 to -
cents, the latter q 10 ~ ce~nts-conhdenoe has
returned, and a Armer feeling has been ex-
hibited- The fact OF pressing orders being in
the market and an improved state Of things
In New Orleans, has aided TO revive feeling.
Dispatches received yesterday from New Or
leans stated that Sterling Exchange had I'M
proved, and Cotton, which had been down TO
46a47, had gone mp to IS cents. It Is true there
has been another decline OF a quarter OF a cent
in Liverpool, and that the advices from New
York are as gloomy, though, by nc means, as
~postieal as Jeremiah's lamentations but the
Liverpool decline was foTeseen three weeks ago
aud Us New York, with its bulls and bears and
rings has weakened, the ~spinner's demand,
The sound home market-whieh is the stand
By OF Memphis-has come to the rescue, 50 the
wsek closes more cheerfully thsnitbegsn, and
there b sdii confidence in the future OF Cotton.
As We have already stated, Nell Bros haTs
reiterated their estimate Of 100000 bales az
the total supply OF Cotton this season The
English Cotton Supply Association evidently
place little confidence in this opinion, for they
- IA - - ~ ]
the rest Of mankind" to come to the rescue
and raise them the Cotton they cannot look TO
America for. The careful N0tioHai EatsHigenceT,
il forcible articles, predicts a Cotton famine
The Secretary Of the Treasury estimates the
supply at $4,000 bales, while general popular
estimate places Il at ,1o,UO bales. In Memphis
the supply is falling OF, 50 eport tho clerks Of
every Cotton shed IN the city. An experienced
merchant counted the Cotton N the city on
Thursday last. In nineteen sheds he found
1852 bales, on the bIun he estimated 1000, and
in private storage, 1000 bales. In our Judgment, |
These two estimated figures ought 70 change
places, but the result is unaffected by that
fetal stock 2i,642 bales. The blowing are the
December receipts Of the Ohio railroad at each
OF It's stations: Union, lSs bales; Shelby, 20
bales; Wythe, 259; Galloway, Isl; Stanton, 735;
Big Hstchie, 70S-totaI s, I5 bales for the month.
The receipts by river during the SAINT month
were 5,912 bales. The shipments during the
past week were SIG bales, against SOS bales
the Previous week. The shipments during the
last four months from this port were as foIlows;
septe1ab Der, 1856 bales October, G,324; Novem-
beT, I7,522 December, 22,521- The effects OF
holding back Cotton for 50 cents appears in the
diminished shipments Of November. The fol-
lowing is a review Of last weeks market, day
by day.
MoNDAY.-The market opened dun, but the
presenceof spinner's orders, aRda more cheer
fuI view Of the last Liverpool news, caused
some summation, and a fair days business was
done. Middling, 1894 cents.
TCEsDAY.-The market opened with some
thing Of the spirit Of the preceding, but a
dispatch announcing Gold down 10 SS5s, and
Others reyoking orders, depressed the market
Mtddhng, 42A8f5z cents.
observation-disclosures at previous rates, but
tidings from New York OF a dun market at
nominal rates, with a huctuation in Gold, and
also dispatches cancellinR orders, unsettled
everything, and again lowered prices. Md
ding, 2 IS cents.
THURsDAY.-Market very irregular: stock
outside selling at no liked rates. Business
thoroughly dsmoralized," Yet a fair amount
Of business done, owing to the presence of
splnner's orders prices lower. Middlng, 4l@42
cents.
FRIDAY.-Business less active, but prices bet
ter and more settled. Cottous above Mlddling
in active demand, at improved ~prices-Strict,
44c Good, 45c6 dc. These qualities are wanted
FOR Eastern mills. Middling, 4lgf2 cents.
SATURDAY-Market quiet and little done
rates unchanged and hrmer, holders showing
more confidence. The presence In the market
Of Important orders from Eastern mills assists
to revive confidence. The feeling was better
on any previous day since the Gold panic
SET in. A very little good news would just now
have n very submissive effect. The New York
dispatches received were not encouraging. but
they had little, II any. influence, The follow
Ing sales were reported TO as: IS bales at Sc,
and 1 at Sc. repacked 81 at Zoe and 10 at tic,
Low M~iddling; 10 at 42c and III at 43e, Mid
100 a. aAc =tric. zuadI{pg. "a AZ 40