Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1867-04-23

COMMERCIAL.
OFFICE OF THE DAILY APPEAL J
MEMPHIS, April p, 1867, s pm.
GENERAL RVSEEESS


GENERAL BUSINESS.
The fine weather is being taken advan-
tage Of by planters, few of whom are to
be seen upon our streets. We learn from
Capt. PAWS, of the St Gamer Commercial,
that planters along White river are
busily engaged in their fields, and have
wisely turned their attention to planting
full crops of corn. We hope that the
planters elsewhere will follow this exam
pie. In no part of the south was there
so much prosperity and such successful
crops of cotton raised last year as in
Arkansas. If, then, the farmers of that
state have found it to be cheaper to raise
corn and stock, we are sure that in other
sections it will be no less profitable.
Business, generally, remains dull, al
though prices are firm.
COTTON-Buyers have the market in
their own hands, and do net seea at all
anxious TO purchase. Very few sales are
reported. One lot comprising 40 bales
of ordinary was sold at ISe, which was,
we think, considerably above the market.
MiddIing would not bring more than p
to 23c, and very few bales were sold at
that figure. The receipts since Satur-
day were 696 bales.
The course of the cotton market con-
tinues to battle all the calculations and
expectations that were formed in the
early part OF the current cotton year.
| The protraeted depression Of trade, on
| both sides of the Atlantic, may be said
| to have changed the whole aspect of the
market, converting a supply which last
autumn appeared quite inadequate into
an ample one, thus leading to the large
| reduction of sixteen or seventeen cents
per pound in price-middling now being
| quoted at 274 to 2S3c, against 43 10 44c
| last October. The fall in prices in Eu-
rope has been equally large, aud with a
slight margin between cotton on the
one hand and goods and yarn on the
| other, consumption has for some months
been light, averaging only about 1900
/ bales in the United Kingdom, in the face
/ of an enormous accumulation of bullion
in the Bank of England, and the low
/ rate Of discount. In fact, the cheapness
of money Is regarded as result OF the
general stagnation, and, instead of being
a healthy symptom, is an indication Of
| commercial distress. The truth ia, the
| impeverishing effects Of the financial
/ and commercial crisis of last year con-
| tinue to be felt by nearly all classes Of
! the British people, and the demand fer
goods is, in consequence, comparatively
1 limited. The same stagnatlon is re-
ported on the continent, the dulIness
! there being intensified by the GppFehen-
sion of further political complications.
on this side of the Atlantic the state
of trade is even worse than it is on the
other. Throughout the interior money
! has been, and still is, scarce and dear.
| which, coupled with the pressure of tax
alton, q lack of confidence in the sta
bility Of values, and the dearness of food
| prodlets, has induced marked caution,
neeessitated greater economy, and led to
q settled weakness in prices of goods.
/ This, m turn, has uDfavorably affected
| manufacturers, and production for many
months has been comparatively light.
Under this state of affairs Considerable
exports of cotton continue, and THOUGH
| this years crop promises TO be 1000 900
| or 5, ,0e0, 900 bales below that Of last year.
there are indications that Great Britain
will Inonopolize larger supply Of II
| than she did that of last year, notwith-
standing the comparatively low prices.
The stock of cotton in Liverpool at the
end of March was as follows
East India Brazil
American. and China him Egyptian, etc. Total
ls ls a,sS9 ssSS lsiSs lS iissSS iiisS g slsSSS SS
Increase Of stock this year-.............. 81 GOO
Or, about 2O,Oc0 bales greater than the
popular estimate. A leading Liverpool
/ circular remarks;
eft is evident that olr stock must In
crease considerably even above present