Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1869-11-02

COTroN 7 NEW YORK.
NEW York, November /, 1890 am
Cotton demand fair and prices firm.
Low MiddIings 25Zc. Uplands PC.
Good Middlings 26Hc.
1855 a.m-Cotton hrmer; offerings
small. Low Middlings 25Zc. Uplands
26hc. Good Middlings 265sc.
2:l0p.m.-Cotton quiet but firm. Sales
1900 bales. contracts for November at
25kc; December, 25Lc; January, 255zc.
and February at 25Hc. Low MiddIings
255sc. Uplands 26Hc. Good Middlings
2G%c.
$3.50 p.m.-Cotton demand moderate
and prices firm. Sales for export, 1900
bales; spinning, 42O bales; speculation,
355 bales; in transit, $50 bales. Low
Middlings 26c. Uplands 26Lc. Good
Middliugs 26zsc. Mobile 25Hc. Orleans
26Ac.
COTTON ~ NEW ORLEANS.
NEW ORLEANS, November l, u:SO
a.m.-Cotton demand active at full prices.
Middlings 25c.
$3.50 p.m.-CottOn demand active at full
prices; sales COCO bales. Middlings 25c.
COTTON IN LIVERPOOL.
LIVERPOOL, November l, HIS am
Cotton firm. UPlands l29l2Hd. Orleans
12H@12%d.
l:2O p.m.-Cotton firm and unchanged.
Uplands l29l21sd. Orleans 12H@I2%d.
5~p.m.-Cotton firm; sales 5000 bales,
of which 5000 were for speculation and
export. UpIands I2Kd. Orleans I25sd.
The Republican Banner, the "leading
paper" as it terms itself, of Middle Ten
nessee, contains the following, which, for
a twenty-six line editorial, displays more
ignorance concerning the staple of the
South than wecould imagine existed any
where outside K~amschatka or the Banner
Office:
The constitution Of the South has
taken a very practical turn, Judging bv
the success of the cotton crop of lS6g-'TO.
From the returns at the different ports 10
appears that the receipts so far are one
hundred thousand bales in excess of the |
amount received during the correspond /
ing expired portion of the cotton year Of
lS6S-69. Naluing the crop in round num-
bers at a hundred dollars a bale the South
has, the reiOre, made ten million dollars
more than last year, while the prospect is
fair that the whole crop of this wear will
exceed that of last year in the same pro-
portion. Before the war the annual pro
duct was six millions Of bales. The
nearest approximation to this figure since
the war has been about three and a quar-
ter millions; but this year the crop bids
fair TO reach nearly four millions. As cot
ton is now worth, even in gold, twice the
price of ante-war times, the gain TO the
country is still a vast one, and assures the
prosperity of the section which suffered
most severely from the war.
The Boston Post, in an editorial on the
of cotton supply and prices, has
following, which we commend to the
attention OF our readers:
In the season of ls67-'Gs cotton touched
its lowest price during Christmas week.
Last season the lowest point was touched
before the middle of November, say y
cents for middlipg in Southern markets,
a fall of about = cents per pound from the
opening price Of the season. But it had
been discovered while that decline was in
progress that the worlds consumption of
cotton had during the preceding years so ex-i
ceeded the worlds supply, that the stocks
on hand, which were l.092,O 600 bales, Octo-
Der LIST, 1867, had fallen to GA. 900 bales
October lst, 1865. This startling reduc-
ton OF nearly 500, 600 bales in the reserve
during one year, showed that the world
more cation than could be had at
he price. Producers and consumers ac-
the teachings. and prices advanced
from z cents in November to % cents in
February. Al that price in New Orleans,
and corresponding prices abroad, a check
WAS given TO consumption. Cotton spin
ners II manufacturer nave generally
done a losing business since February
last, when working cotton at market
value. Trade would not bear a price on
cotton goods to correspond with the
price Of cotton goods accumulated
n stocks at home and in the distributing
markets, or were forced OF at consider
able losses.
80 nov we find, in contrast with last
year, that while the supply of cotton to
he world during tho year ending October
1859, has been about $50, 900 bales less
han during the preceding year. the stocks
'emaining on hand October LIST, 1869. do
not vary 5000 bales from those of Oeto-
Der LIST, lsds, showing that the world did
not want any increase of supply at the
price of that year.
The actual crop or production Of the
-nited States for 1858 was not more than
$4,000 bales, and of that about $3.50 ,
lales we're used in the South, burnt, etc.
The foreign export from it was less than
10000 bales. The common estimate of
he present crop is 2,T50,000 bales. We
make no estimate, but remind old cotton
nen that no dry season ever failed to eX-
'eed the largest estimate, no wet season
yer failed TO fall below the minimum es-
imgte in the actual product, reckoning
be wet = end dry" character from and
.fter July 18th.
4 crop Of :, 10000 bales wopld show an
Increase Of 5000 bales upon the last one,
nd would afford an increase of 800. Go
,ales in the foreign exports if wanted at :
he prices. The lower range OF prices
Turing 1S67-Gs, made consumption outrun
$4,000 bales. The higher range of /;
S6S-69 has enabled a supply of about 322.- '
90 less to satisfy the consumption. The :
Inference is the sum of both, say 800. 600 I
I
From these facts, It seems clear that at
ne price consumption extends; at an
ther 10 contracts; that a prize somewhere
the average OF lS67-6s is necessary
o give such an expansion TO the uses of
otton as will appropriate the increase in A..
upply; and thar while the planter must
Oncede to that point, theyhold the power
o prevent the fall to prices materially be-
Ow that point, as occurred in 1867. {
India sends very favorable reports of
Ter cotton crops; the most favorable for :
years, in decided contrast with
hose a year 90. T he last crop was a
laElldA lallhIts 70 lNu acre, even according :
o the small average Of India, In Febru- :
1869, Mr.. Forbes, ths Cotton Commits
Toner for India, appended a postscript to !
is report Of the crop in the several dis {
riots, in which, atter referring to the I
Osees Ia the culture Of the American and =
.atiVe varieties, be says: ''The native 4
liant has suffered more severely; the es-
loss Is here given at 80 per cent, ]
ut Notwithstanding the above, owing to J
he increase IN cultivation, the whole crop
( these districts will be considerably in
xcess of that obtained from Them last !
The result proved that both the
nfayorable early reports and the report
{ Mr.. Forbes were correct. If the fiat Z
sring promise of this year applies TO an .
quail area, and shall be fulfilled, the sup :
ly of India cotton may rave an extraOr- ]
mary increase. II Is, however, quite {
90 carly to know anything of the Weld, ,
r even It's probabilities, which may be J
fhOlly changed sftiT f~ruiting begins. If ;
he promise of an abundant yield i'm India
hall continue 10 December, and the cur !
ent estimates OF our crop be sustained, J
he discOuragements Of English manufac- J
ures and spinners will give place 20 q +,
renewal Of activity by lower and !
ater prices Of raw material.
TRADE. 4
Our city, during the week just passed, (
-. - 81 y