Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1869-05-28

and 600 bales. Low grades are still neg
Ieeted, while fine cottons are scarce and
firm. We quote:
Ordinary @6
Good
low
Strict iddlings ........-..--....ZS WS
COTTON STATEMENT.
CHAMBER OF COMMERCE,
MEMPHIS, May q, 1863. }
Stock on hand Sept. ], lS6S~~~- az.
Received to-day. - Io3
Received reviously.~.2i5,5I4 Zf''f''
2l8,524
Shipped to-day.-.~.~".-". ~
SHIPPED previously.~.~-2S3,S 1913 2SS,5O4
Stock on hand at z m..".~.~.-... lO,O2O
Receipts per NJ. & c. R. R., 5sbales; NJ.
&T.R.R., bales; NJ. q ORR, so bales;
steamers, s. bales; Wagons, 10 bales.
Exports per NJ. & c. r. &; NJ. & T.
r. r. IN. so. r. R. III; Steamer =.
We yesterday published the views of
the Economist upon the prospects Of
cotton ana to-day We give the balance Of
the article, which refers to the fature:
Respecting the condition of the cotton
trade for the remainder of the present
wear. the indications are that the stock on
hand and the probable imports will barely
supply a very moderate rate Ofconsump-
ton. should this view prove correct,
anv considerable modification OF present
prices of the raw material can scarcely be
looked for. The following table shows
the movements of the trade for the cur
rent year as compared with the cores
ponding periods in the two preceding
1869. 1865. 1867.
Average5ekly takings
Average weeklytakings
by eXpOrters.-......... $500 l2,6OO l2,a0
Average weeklytakings
bV trade from MAY l
TO December 3l.-..---. - 81 OO 5l,OV0
Average weekly takings
by exports from May
Ito December 3l.....-.. - l4,4W 5000
The estimated supply for the present
year is very nearly the same as last year.
1t is believed that the growing cotton
ckp in this country will reach 2,5OO,OOO
bAes. aud that it is more likely to be
ain er than over these figures. OF this,
however, il were premature to form any
conclusions. The season is still too early,
and the accounts from the South are too
conflicting TO afford seliable data for cal
culatiOn. From India there are no indi
cations that the supply viii be in excess
of last year. The following statement is
based upon the most accurate details in
Liverpool, May /:
Stock on Aqad: Bales. Bales.
.--.352,OOO
LOndOn-.....-.. -...---.-..-. 1000
Continent o.. ...-...-..---... 10000
Probable supplies: - 4gs,U~
East India-A sea..---..394, goo
Pr5NFble further
- 22l,OOO
Egyptian-To arrive $1,000
| BraZils ......-a.-6OO,OOO
| West India " ."."..lOO,OW
! Americau-At sea.-~.--.--320,00 coo
To be shipped
this crop.-"..-230,O0O
neXtcrop. toar-
rive this year..l50,OO
Present rate OF consumption: 3,2lS,OOO
Great Bntain.~"..."--"..- 44,OO
COntinen o4,OO
5000
Per week for IS weeks-.-..~..2,7 10000
| Leaving stock 3ist December......... 4S3,OOt
Against 3lst December, lS6S---.... 6l6,0OC
lS69---.... 6S6,0O7
These estimates, it viii be seen, are ia
vorable TO stability in the market. with
indications of a slight decline in prices,
The prices in New York and Manchester.
May IA, were:
Middling Uplands, 2s34c slHd
! Orieans..-.......... 29He llsd
The high price OF cotton has produced
the effect Of stimulating exports both
| from the United States and India, ano
large supplies are going forward. IL
Manchester, it was believed that a slight
reduction of prices would stimulate pro.
duction, by enabling manufacturers tC
make concessions to buyers, who are
holding of in anticipation Of a decline
There is, in fact. a sort Of dead lock be
tween producers and consumers, tht
former refuse TO work any longer at q loss
or at a sacrifice of profits, and the latte
viii not buy at present rates, more than
will satisfy immediate pressing wants
The indications are that the market hai
reached its maximum, and this opinion
prevailed in England, that the slight re
duction of wages effected, with the proba
bility of an increased demand for manu-
factured goods in India, added to tn,
limited supply of the home market
would induce an increased activity in III
trade in q short time.