Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-07-30
FINANCE AND TRADE
OFFICE OF THE DAILY APPEAL,
MEMRHlA LmM %. lALl.
TINS COTTON cRor-How IT FARES lS Al

- AANA W m -
MEaPHIs, July %, lS50s
TINS COTTON RoP-How 1T FARES N AR
KANSAS, -I
1t is astonishing, the persisteney with
which the hears of New York and their
allies in Memphis stick TO their over
estimate OF the cotton crop. They are as
fixed in their purpose as men generally
are who stake heavily on a result. They
have sold to deliver at certain prices, and
il is to their interest TO represent the fu-
ture of the staple in such a way as TO
Justify their opinions, predictions and
their actions based upon both. For our
sslves We are Unalterably opposed to
gambling, especially in this insidious "to
deliver form, and prefer to give facts as
to the crop rather than opinions which
were as worthy of credence from any
other sources. In accordance with this
purpose we have throughout h season
kept our readers posted SO that they
could form an intelligent judgment upon
a question of vast Importance 10 Mem
phis and the whole South, and be pre-
pared for either a big crop and low prices,
or a small EOH AlO al ANAnH A1sosH wv
incline TO believe the latter will be the
result. We have heretofore enforced this
belief by frequent extracts from the re-
liable country press and from correspond
ents resident in the cotton country. We
present to-day a few extracts from Ar
kansas papers. The Little Rock Gazette
OF Tuesday says that during he past few
.-.+-, r-,r., huu Vnu1a itg an
pearance in that county and other locali-
ties. doing more or less damage. The
DeVall's BluT LiberaJ reports it present
IN Prairie, and the ASkadelphia Standard,
in Clark. where IS yet 1t has confined its
rayages mostly 10 the grass. The Cam
den Democrat reports the scOurge as pres
ert in large numbers in the vicinity of
weIIsyiIle, in Hampstead county, and
rapidIv spreading. Mr.. Berry Beard, of
Ouachita. says to the Democrat "that IN
his ~neighborhoOd the grass worm Is at
work. and he thinks that it has been mis-
taken in Hemstead for the army worm"
OF this same 'grass worm" the Arkadsl-
pbia Sta7ldard of the 23d inst. says
our planting friends in this county
nIAG tMEu AELA w
last ten days about a worm that appeared
in their cotton fields about ten days ago.
When they first appeared they attacked
only the grass, but after eating up the
grass they consmenced upon the cotton,
and on some plantations they have done
considerable damage, while on hersthey
have done but very little. This pest is
thus spoken of by the Des Are Citise, OF
the 26th: A new danger now seriously
threatens our farming interest in the shape
of a worm. This section of country has
always been remarkably free from pestB
of.this kind, and the farmers are of dif-
ferent opinions as to the kind of worm
now doing so much damage. 1t is about
one and a half inches in length, snuh
color. with dark stripes GA the sides, four
small dark spots marking each section
on the back, and has the appearance
of a smooth caterpillar. We are
neither farmer nor naturalist, but
"a the caterpillars appeared in such
great number a few weeks ago, stripping
the trees in some places entirely bare; and
As the worms o making such havoc are
so C%arniverous as 10 feed on themselves
when confined together, we are of opin-
ion that it is a caterpiilar-eater, a worm
bred in the body of a caterpillar, and
which destroys it. But whatever its name
may be. it is doing a vast deal of damage
90 the crops. both cotton and corn. When
they appear in a 1ield they first make a
clean sweep of the grass, and then begin
on the cotton or corn. We have heard OF
several farmers who do not expect to
make one bale OF cotton 10 ten acres.
What the extent of damage may be none
now are able 10 toll. 1.-THE worm is short
lived and confined 10 small sections, the
damage may not be great, but il they last
long enough to spread over the cGultry,
cotton and late corn will be almost EN-
tirely ruined.
BONDS or THE ALABAMA SOUTH AND
NORTH RAfLROAD.
From the New York EreniH9 bulletin
OF the 10th inst. we learn that the first
mortgage bonds Of the South and North
Alabama Railroad Company have just
been put upon the New York money mar
ket. These bonds bear eight per cent. in
terest, are payable, principal n interest,
in gold, the prompt payment Of both of
which is guaranteed by the State of Ala
bama. and are offered at the low price of
% and accrued interest. The road ex-
tends from Montgomery to Decatur on
the Tennessee river, a distance OF lsa
miles, fifty miles Of which have been fin
ished and equipped. The bonds are Is
sued at the rate of $4,000 per mile, and
the Endorsement Of the State of Alabama
Is given as the road is finished. The
stock and paid-up property mortgaged to
secure the bono is valued at s., sO0, 600, in
addition to which security is the indOrss-
ment Of the State.
THR PHILADELPHIA DRY o MARKET.
The Philadelphia Commercial List says
there has been a lair amount of trade in
domestic dry goods for this period OF the
year, and the aggregate business is some
what larger than was generally antici-
pated. Prices are very steady, notwith-
standing a further decline in the raw ma
terial. The general impression Is that
the fall trade will be an unusually lively
one, and that there viii be an active de-
nand from the West for all description of
goods. Wooden goods are attracting more
attention, and are decidedly frmer.
Foreign goods, owing to the rise in gald,
nave been more or less excited, and q ma
terial advance is now demanded.
SOUTHERN SECURITIES.
The New York Bulletin of Tuesday
last gives the following as the then cur