Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1867-04-27
COMMERCIAL.

0ENERaL RrNINEas

IiEEPHss, April =. 4ss7, p.rn.' J
GENERAL BVSINEss.
This being the day on which the graves
OF the Confederate dead are decorated
with flowers and evergreens, and being
also the 4Sth anniversary Of the
I. o. O. F., and kept by them as a day
of thanksgiving and prayer, it may be
said 10 be one of general relaxation
from business of all kinds. Very little
WAS done in a commercial way, and we
have but few changes to make in our
quotations.
CaTTGN-Eastern advices caused an
active inquiry in this mar ket, and an sd-
vance Of from to Pc on all grades. One
lot Of middling sold at 224c, but it was
about the only sale reported. Buyers
were anxious to purchase, but did not
come Up 10 the views of factors who
generally held about &c above their
offers. The receipts for the day were
2g8 bales; shipments, none. As to-mor-
row will no doubt be an active day in the
staple we can again begin to give quota
tioys from actual sales.
The accounts from the Brazilian cot
ton crops are favorable. The coffee crop
is expected to be 50 per cent. above
average in Parana.
The Philadelphia corn exchange has
passed resolutions denOuncing the Illicit
distillation Of whisky, and expressing
the opinion that the present tax can
never be collected, aud operates only to
the benefit of fraudulent manufacturers.
+ 1t recommends that the tax be reduced
to twenty cents gallon, TO be collected
. at the place Of distiilaLion.
This statement is true, and it demon
/ strates the legislative ability of the
high tariff, fanstical rump that now con-
| trolls the country. The present congress
/ is an enormous failure in politics, and il
I is no less so in finance.
A New York cotton circular of the 9th
says:
/ IL called attention some few weeks
I back to my belief that our stock in this
/ city was over estimated by about So 00C
i bales to-day, by actual count, it is dis.
: covered that the total amount of cotton
+ in this port, including large amount Of
what IS termed refuse and low pfckings
actually foots up only l24,00Q bales IN
/ stead of ia, 900 bales, which was gene
rally conceded to be correct.
90 The stocks at all the pOFts, as seen by
my statement, are l2l 500 bales below
what they were at the same date last
year, when the price of middling up
lands was quoted st 37c.
"As yet, | am not prepared to give
I reliable information regarding the
I ability OF dlsFcg;tion of planters to raise
cotton another season. s'reCdent appli.
1 cations have been made, and still con.
tinue to be made, 70 capitalists in this
Z e.ty for money to be applied for the rails
ing OF another crop, most Of which have
/ been refused, iC consequence of the great
disappointment and lossss experienced
last year in .sneh investments. The
u,Fcsent price OF the staple also aids nc
little 70 discourage those who are in q
position to give ,hs required assistance
The NewsYork Iost, OF the 10th, says
We hear of no cotton failures in Liver,
pool, and no additional suspensions here
/ about ten days ago heavy speeulator,
who had dEagn 9bout $4,000 against
cotton, was advised lpFohaSly by cable
that his bills would not be accepted foI
over Sd. per pound on his cQnsignments.
He thereupOn stopped payment here,
and the Scotia brought notice that tbs
bills had been refused acceptance in Liv.
erpool. This circumstance about a diff
Gully of ten days standing yesterday
gave rise 10 fhs rumor Of heavy cotton
failures. The more reeenF f4ilsre of an.
other house here (large factors for Texas
New Orleans, etc, is supposed TO have
I aggravated the decline 10 Liverpool
when made known aud acted upon Oh
Wednesday and Thursday.
AFPL PLES-With heavy stock prieel
are weaker. Ceiling at S6 70 S. pc
barrel Receipts fSl tAs day, none.
|. BRAN-There Is little in iaarkst. snf
no accurate quotations can be given
Receipts for the day, 40 sacks.
! BUTTER-There is very little choic,
on hand. Il sells at S2 to S5ei gooS