Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1867-10-17

course. Tho idle stories flying all over the
country, ara ia the main untrue. The largest
number Of cases reported in any one day, was
thirty-three, and the largest mortality was
sight. We speak advisedly, when we say thai
our country friends need not hesit IS to order
goods from Memphis, OF any character what
ever, without fear bloomington. Notau instance
hiss yet occurred or q dry goods merchant OF
clerk being affected. Our country readers sh0uld
know thess facts. and knowing them, we are
satisfied that much OF the fear which has per-
vaded their minds viii be allayed.
The corn market Is dull, WITH fair supnV
Yellow sotsred az 95c, white 81 New ear at
791S1c in lots. Hay il dull at S23F13 for prime
Timothy. Oats dull at 50e. Bran scarce az SIS.
Meal IN lar supply and inactive AT % l6@B ~,
Meats are scarce, but Mess Pork has declined
about go per Dbl by the car load on traek, a. is
held at 50 20 n nom store at 81 z5gI 80,
Prime Mess So 50. hump s3 50 Clear sides
HWg 01zc. shoulders IGhc. Breakfast Bacon
l9g2e Plain Hams 2l@2sci sugar-cured
The following letter received from jackson,
by a business house In This city win interest
many Of our readers. The reference made 70
freighSs deserve especial attentions
JACKSON, TENN, Got. u, 1857.
DEAR - Your two letters came SAFE n
nenl auu contents noted etc. You DO not say
whether you are getting much business or not
up TO THIS time. IsuppOse, huweyer that win
70 the low price OF eoJton, that your customers
are IN no hurry about getting their cotton 70
market. Blddlng cotton B1ld here to-day at
10 cents, and / saw another lot OF 4 bales OF the
pIetelest ootton lHat 4 ever ssw raised IA Ien-
nesseer that sold for aboutllA cents. We have
received a right smart B~prinKling OF cotton on
storage, which WI have advanced on, and we
have also advances on q good many bales that
we shipped to New Orleans, Mobile ard Mem
phiS. Intend TO ship you some cotton soon.
There are here many buyersand agencies
leans, and they can raise any amount of money
70 advance or buy cotton 10 be shipped 70 the
houses tney, represent. Memphis, by the by
mas but Few friends here. cur house can raise
any amount OF money we want to advance on
cotton. Men come here and give US the money
TO advance On cotton, and the Mobile and Ohio
and inc MlaslSgfnnI Central RnaHg Taxa IL Tn
Mobile or New Orleans forhve dollars per bale,
and IL costs about So 80 70 Memphis. The
o~heapness Of freight TO Mobile and New Orleans
VII control thousands of bales Of cotton from
tins point that would go TO Memphis, II II was
not Tor the high charges for freight. The Mem
PMS ana Inarleston RAILROAD ought to reduce
their freight on cotton from the junction to
memphis, That Is IL they want the business
from this point.
people nave not felt the hard times here
yet, like we have in Fayetteand shelby, though
they complain; but really they know nothing
10 draw supplies nom their merchants 10 make
their cotton crops predicated on three balesrO
the hand, and cottOn at 20cents per pound after
paying "a PS[ eent AK, as we did In FayeIte.
Of trade:
There is a very general dlsappointment
among the merchants OF this city at the results,
thus TAR, OF the fal business. PerhaDs this il.
partially the consequence Of unreasonable an
Lclpatons. " prospect Of ample grain crops
throughout the country and OF an iucreased
yield IN the cotton crop produced a nat
sanguine feeling among many manufacturers
and merchants. 1t was hastily concluded thar
with such a condition OF the great agricultural
interest we had the basis FOR an active demand
Tor goods, and not a few of those who had guf-
Tered nom the disastrous losses Of the spring
business made extensive preparations for the
IaH. Inc result OF these preparations has been
JhaJ goods have been pressed upon merchants
nom the interior on extended credits wifi me
JWO-Iold result that the Interior trade has been
supplied in advance OF its wants, and 1s there
lore now buying little, and that cur merchants
ma II exceedingly difficult to realize money
their customers notes, causing a partial
pressure 70 sell goods upon cash terms and a
consequent weakness of prices.
Besides the reaction resulting from over-san-
sulhe preparations, there have been other in
nufnces tending 10 depress the markets. The
7ouIneru trade has been checked severely by
Il prevalence OF sickness at the ports The
cOndict OF opinion and or action between the
PRESIDENT amt Congress has awakened fears of
threatening events on the reegsembliDg Of Con-
gress, which rhose most intimately connected
WIN business regard as having had a decldedly
enect upon trade. The large con
traction OF ~greenbacks and compound notes
since the middle of June has directly interlered
with the credit operation OF the banks Of the
interior, and mas doubtless limited the ability
OF merchants 70 purchase IN our markets eSpe-
clally within the last six weeks. In the impor-
ant department OF cotton manufactures there
has been a sharp reaction growing ont of the
decline IN the price OF the raw material, the
having been about six cents per pound
since the close OF June. Beyond and above an
JUS tltib " tut ClLDu4G lack OF confidence
arising out Of the financial arrangements OF
5he country, and our increased dependence
European capital.
These are perhaps the chief causes tending 70
produce the dizziness Of trade at present com
planned Of Unfortunately, they are OF a char
tcter not admitting OF sanguine hopes Of any
sariy marked alienation OF the condition Of
affairs. Great expectations areuput Of the ques-
ion so long as we are under tie ARRANGEMENTS
upon the reaction fr0ea the ma
IOnal losses Of the war.
We must content ourselves. for some time 10
'Ome, with moderate hopes keeping in mind
we are unusually liable to fan short of the :
-ealizatiOn 81 these even. fromthe slightest i'm
prudence in management. We need 10 keen in
force the curative agencies OF caution
economy. How little hiss been ATTEMPTED /
n The retrenchment Of business eXpend lures. /
tnOrmous rents are still paid tor maguin-
.eut stores in which comparatively lit
le business is transacted. Extensive
-genctes are employed for securing customers
o whom ii is difficult 10 sell goods at a paying
and, still more reprehensible. there is
title effort To cut dow private expenditures. !
As much as during the initiation and excite
nentO Of the war, do our merchants n uheir |
employees keep up an expensive display, gacri- /
everything in the effort to climb to social
lnsitiOn. All this is wrong. It leads rs as a
into an expenditure in excess Of our
ncOme, and unless checked must some day
Don result in q general bankruptcy. All this |
3 understood among merchants and does much 4
awards fostering the undeTtOne Of miStrusJ
7hlch prevails in commercial circles untver-
ally. Yet we find none disposed 10 apply the
emedy.