Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1867-06-08

AEEAtArtD LAt kntEEBHL6a Oh G9luLlcfCt nj
large, may be Justified IN regulating its
action with a view to giving England
the very important advantage of cheap
cotton. It must be further allowed that
IL refusal to discount cotton bills has
had the effect Of undressing the price of
the staple, and tbs probability being that
bntfor its course middling upl&nds would
have been now worth 13d z b at Liver
pool, instead 0 f11d. But how long can
this effect continue? No Institution,
though endowed with the yaet power OF
the bank Of England, can for any impor-
tant period keep products below their.
real value. Moreover, the direct effect
OF the depression of the cotton trade Is
to limit the next crop. Planters are so
discouraged by the numerous difficulties
that beset them, that the depression in.
the cotton market and the downward
tendency OF the pricehave easily induced
them TO turn their attention from the
production of cotton to the cultivation Of
other crops while factors have had their
means for assisting the planters very.
materially limited.
II is quite probable that the present
condition of trade may induce a curtaii-
ment Of the crop to the extent of 250,00
bales; and such being the case, what has
the bank gained by its policy? The
prospect Of another light crop would
cause an upward bound in the price Of
cotton, in which all would be lost in the
way Of reduction of the price which
has been gained by the bank. IT 4s, to
say the least. very Questionable of q great
bank TO take such an arbitrary course
| relative to the chief branch of trade of
the two countries. The cotton trade
cannot be injured without damage re-
sulting to other large departments Of
commerce. 1t may be that owing to the
large losses in the cotton trade for many
months past, cotton paper is not to be
considered the safest way Of employing
money; but If it was not prudent to dis.
count 1t upon ordinary terms, what
should prevent Che temporary adoption
of other terms attended with less risk ?
1t is the misfortune OF that venerable in
stitutiOn that it is becoming "fogyish y
and very whimmy. With frmer and
more competent management, the great
panic of last year would have been
avoided; and it is because there are in
the direction certain gentlemen Of strong
prejudices and feeble judgment that We
have the present condition of the cotton
trade.
APPLES-Very few on hand-de-
mand good. Selling atSl0 to SI2 per bbl-
BRAN-There is only a moderate sup
ply. Held firm at SIS to $50 per ton.
BUTTER-A large stock, with fair
demand for choice. Selling at. 20 to soc.
Common is dull and selling at Is TO 2Oc,
as to quality.
BEANS Are scarce with moderate
demand. Navy held at s. rs to 81 per
bushel.
CHEESE-Nearly out of market;
western reserve, II to l9ei English
dairy, 20 to 22e.
C0FFEE-A fair stock and demand.
Rio, Is TO 27fc; LagUayra, 80 to 3Sc;
Java, ~ to 43c.
CORN-Receipts very good, and prices
are weak. Selling on levee at 81 10 to
81 y; from store at 81 70 to 81 Is,
CORNMEAL-There is a good supply !
and market dull. Kilndried sells at IS 25
on levee. FROM store about 25c per Dbl.
higher.
EGGS-SmaIl receipts aud market
firm. Fresh packed, q TO 22e.
FLOUR-The markets. dull and prices
declined. Common, SS to 50 superiue, |
$40 to S1I; X, ST 80 TO Sl8; Xxx, Sl4
TO SIS; xxx and all fancy brands, S16
HIDES-There is an active demand
for ali kinds. Green. s to Sc; green
sailed, 10 to lie; dry hat, is to lie.
HAY-A light demand, with heavy
stock of common, and little prime.
Selling on leVee at S95 to $50 for latter,
and former at S23 TO S24.
IRON TIES-The demand has ceased.
Held at II to 12c per ID.
IARD-Fair stock and moderate call.
Tierces, Is to l3lc; kegs, 144 to l5c.
LIME-NOt active, with a good sup
ply. Ohio, 81 80 to 81 so; Cape, g so
MOLASSES-The supply is not large. |
and demand fair. Common, IS TO soc;
choice, use to 81; syrup, 81 to 81 SO.
MACKEREL-There is agood stock
on hand. Prices are steady at SS
TO S24 for No. l; SO to S23 for Nc. 2 $50
for No. 8. Half barrels and kits in pro-
OILS-A good stock Of oil kinds on
hand. Coal, common. 4s to 52c extra,
50 to sic; lard, 81 Is to 81 5Oi train,
81 90 to 81 so linseed, 81 80 to II 1Oi
sperm, 81 70 to 81
OATS-The receipts are light, and
prices firm. We quote on levee at So
oNIoNs-Good New Orleans are in
demand at 81 to 81 50 per Dbl.
PROFESSIONALISM is 2 5000 sup
ply on hand and prices are firm. Mess
pork is selling at S24 TO S24 so; prime
mess, S22to 80 50; clear sides, - to l3fc;
clear rib, l2l to I2Sc; plain sugar cured
hams, II TO 15c; canyassed hams, l53
to 1T5e; breakfast bacon, is to lSc.
POULTRY-Chiekens are scarce and
in demand. Selling at Sc 50 per dos.
POTATOES-No old in market. New
sell at IS to 50 z Dbl.
ROPE-A light stock<gith no de-
mand. Prices are steady. Stege quote for
machine made 123 to BE hand
made 10 to lie.
SUGAR-The receipts are very fair,
and prices are firm. Ths stock
hama is good. Crushed and powdered,
I9 to Doc I; Aeoffee, 1Sc; B, lie; G, 164e.
SAET-There is a good stock on hand
and demand fair. Sacks, s. 20 to
81 so barrels, S. 25 TO So so.
pOBACCO-There is a good 6vlaaud
fur all grades ana PRICES are unchanged.
we quote natural feat at 81 20 to 81 80
fancy Virginia, new work, 81 to
81 % fine bright, pounds, 81 t0SI 10
medium de-, pounds, F5tp Sac s@-aon
htight, pOunds, 81 to Fse fine and fancy
smoking, rs toSl so.
TAR-In kegs, So to s. per doz.
WHISKY-The market is firm but
quiet. Common, 81 IS to g imitation
BOURBON 225 to So Bourbon, s. Is TO s.,