Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-05-06
COTTON.

Only a moderate inquiry was expert
enced to-day in the staple, the decline OF
&c in New York having more of a de-
moralizing effect on buyers than sellers.
NThe latter, in many cases, continue to ask
&c for Middlings, while brokers are 10th
10 bid over 2Ilzc. Anything like a tails
of this grade would sell at 2lK@2l%c,
but several bales were picked up here,
and there at 2I@2ILc, and some factors
think 2I1zc would be all they could real
ize on a good sized list. Thu offerings are
moderate, and the days sales, so far as
reported, foot up but 3SS bales, as fol-
lows: "a bales Ordinary, l5@l7c; So Good
Ordinary, IsGl9c /; IS Low Middlings,
20Z@2Ilsc; So Middlings, 2I%S2lAc; IS
Stained, I79lsc; 50 Mixed, l6G2lc.
COTTON STATEMENT.
CHAMBER OF COMMERCE.,
MEEPHIs. May 5, 1870.
Stock, Sept. ], 1859. ......-..... 81
Reed since last statement 40l
Receiyed previOusly-."--23, Y6S-2i,8oi
254,45S
Shipped since last sta'm'nt ga
Shipped previously. .-...-277 ,l44-247,s5s
Stock at noon this day l6,62O
o
Memphis and Charleston r. R.. 26l
Mississippi and Tennessee K. R.. "a
Steamers. 70
Wagons, o.
EXPORTS.
Memphis and Ohio r. R-.-.----..~.. 5l9
Steamers 10
COTTON IN NEW YORK.
NEW YORK, May 3, u m.-COt-
ton is dull and unchanged. For
May, 2Issc; June, 2IZc; July, 2l5sc; and
August, Zl%c, bid. Ordinary, lS3sc; Good
Ordinary, 2OZc; Low Middling, A'sc;
Uplands, 223lc; Good, 24c; Mobile, 3ei
Orleans, 23Ac.
2I5 p.m.-Cotton dull and lower; Or
binary, Is2sc; Good Ordinary, 2O5sc; Low
Middling, 2lZc; UpiRnds, IKE; Good,
23Zc; Mobile, &4c; Orleans, DC; 500 for
June and July, Z5sc.
4 p.m.-Cotton duh and unchanged.
Sales for export, 400 bales; spinning, $50
bales; speculation, p bales; in transit,
500 bales; contracts unchanged.
COTTON IN NEW ORLEANS.
NEW ORLEANS, Nav 8, 2 p.m.-Cot-
ton steady, demand fair al 9A9Z2c.
SdltS 1ADN UAAUE AUANAHN1 @A@- f
ports G475 bales.
oTT IN LIVERPOOL.
LIVERPOOL, May 3, IL a.m.-COtton
dull. Uplands, lO5sd; Orleans, n1s@llAd.
5 p.m.-COtton steady and prices un-
changed. Sales, 10000 bales. For export
aud speculation, 200 bales.
The National Association of Cotton
Manufacturer and Planters have ad-
dressed TO the Hon. Robert c. Schenck, a
statement in relation to the amount of
capital invested in the manufacture Of
Cotton Goods, as represented by Commits
sioner Wells, in his statistics of manufac-
turers. II seems the Association have
made the statement in no spirit Of malice,
but to correct errors which are so appar-
ent. vet, If true, the interest would have
10 cause for complaint at the quantity of
goods produced to return interest on the
amount Of capital stated by the Commits
sioner 10 be invested. The number OF
spindles in 1869 in operation were $780,
S4G, and, as the Commissioner states, rep
resent a capital Of Si38, COZ, go, while the
Association make the correct figures at
Z77,2I3,s4 The value Of the product tor
the year 1869, as made by the Commits
sioner. Is estimated at $lS4, 600. 600, while
the returns from the Mills, as prepared
by the Assessor, gives the correct figures
as S247, OOO, 900, or a difference of thirty
four per cent The Commissions fixes
the number Of hands employed I'M b
mills at 1854 900, while from a careful esti-
mate. based upon the number Of spindles,
the number is put down as 2Os,0OO. The
statement by the Commissioner of the
agricultural products consumed by cotton
manufacturers, in one place is SET down
as SlI2. 500, 900, while in another place II IS
stated as being Sl9,5OO,0OO. When to The
cotton consumed is added other produces,
the true amount reaches 70 Slb0,OO0,0OO.
These discrepancies in the estimated fig
ures of Special Commissioner are referred
10 by the officers Of the Association as
calculated to do great injustice TO the cot
ton manufacturers interest, and the con
c1usion Of the statement OF the Associa-
ton closes in no very complimentary
terms 70 the correctness Of the Commits
sioner's figures. To the effect Of the re-
port of the Commissioner, as an indiyid-
ual, no consequence is attached; bun when
clothed with the official position be Occur
pies, the interest Of the questions sub
mitted TO his judgment give an iEPor-
tance to his utterances altogether dispro-
portionate to their intrinsic weight or
value.
TRADE.
a further advance is noted in Bacon to-