Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1868-09-05


we deem II proper to again direct atten-
ton to the fact, which scarcely needs
pointing out, so apparent must II seem to
every one, that not only the Navy Yard,
but much Of the adjacent bank, Is being
swept away by the destructive washing
| Of the river. Shall this cutting away be
allowed 10 continue until not vestige OF
what was once the cite Of the Navy Yard
and batture south Of It, with its valuable
improvements, is left 2 Shall not some
| feeble effort ct least be made 10 rescue so
large and so valuable tract from the in
evitable destruction to which it is doomed
unless something is done, and done, too,
at oncef Already a Standardization
of the stone wharf above Jefferson street
has disappeared, and the inroads Of the
water are every day becoming more
alarming. The property thus left at the
mercy of the river cannot be valued at
the present time ct less than millions,
and what its future worth may
be no one can tell. II is at least
worth saving, and every consideration
of public enterprise and public economy
demands that IL be saved. As to the best
measure to adopt, we leave that to be de-
termined when It shall have been decided
to do something. Breakwaters, cut-offs,
and other methods Of so changing the
current Of the stream as to abate its in
roads upon our bank and the formation
of the monstrous and ungainly sand bar
on the bank opposite, have been sug-
gested, and that which would cost
least and best accomplish the
purpose should be agreed upon and
constructed at ence. 1t may be
urged by the guardians of the public
purse that our finances are not in con-
dition to meet the emergency. But is
not delay dangerous Would not any
man of ordinary business tact act at
once, having such heavy interest at stake ?
When the house is 10 flames, and the yes.
sci has sprung leak, who would set
about counting the cost Of extinguishing
the one or repairing the other2 Should
one-half, three-fourths, or even the whole
value of the navy yard be necessary to
save il from destruction, it were better that
such an outlay be made than that it be
swept out of existence, and with it other
property as valuable and quite as well
worth preserving. We trust no false
economy may govern the authorities in
this matter. Every consideration de-
mands their prompt and vigorous action.
OuR CorroN TRADE FOR THE PAST
COMMERCIAL YEAR. - From the forth
coming annual statement of the Mem
phis Chamber of Commerce, collated by
Mr.. Will Trask, we are enabled to pre-.
sent the following facts and figures with
regard to cotton-the most important
item Of the report: "The total receipts
of cotton have been 253, $40 bales, and
the total exports 254,240, with a
stock on hand of Al bales, against 1880
on the LIST of September last The ship
ments to New Orleans were $4,000
bales, the remainder being shipped
northward, as follows: 9063 bales via M.
& C. R. R.; 44,l9l bales via M. Il 0. r
R., and the remainder by steamer OF
the receipts, 72,64S bales came by the
M. h G. R. R.; 30,26S bales by the M. &
T. R. R.; $4,000 bales by the M. & 0. r.
R.; 1922 bales by river, and 34,46O
bales by wagons. The range of prices,
with their fluctuations, are noted, and
are interesting to those engaged in the
cotton trade. The superiority of Mem
phis as cotton market is shown by the
fact that much of our cotton is sought
and purchased by the Northern spinners,
who find lists purchased here more
desirable than are generally found in
other markets, while our central posi-
ton, by river and rail, renders our
market easy of access for both the
purchaser and planter. In the fuc-
tuations of price during the past season,
our sales are reported as higher than
either New York or New Orleans, on
several occasions. Our receipts show
marked increase, and were nearly half
as much as the total received at New
Orleans, almost equal to Mobile, and far
ahead of any other inland city in the
country. The aggregate receipts for the
United States for the year ending Sep
TENDER ] foot up 2,l92,O69 bales, against
1902, 4al last year, showing on excess
the past season of 2s9,63s. About YOO,-
600 bales were consumed in this country,
the remainder being sent abroad. The
present visible supply, counting stock on
hand in Liverpool, London, United
States, and what is ahoat, is l,369,377
bales, against !, 523, 440 last year. OF this
amount 100000 bales are American. Up
to the llth of July there had been
shipped from Bombay s29,4e5 bales,
against l,OlO,246 last year. The ship
ments from Egypt have been 26s,426
bales.
NEW CopSrERFEIrs IN CIRCULATION.
A number of new ceunterfeits on National
Banks have been put in circulation, but
as yet only few of them have made