Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-09-13
FINANCE AND TRADE.
OFFICE OF THE DAILY APPEAL, I
MEMPHIs, September II, 1870. J
THE WEEK

MEMPH1s. September II, 1870.
THE WEEK
In financial circles has been characterized
by a stringency that Is legitimate and
usual at this time of year. Our mer-
chants have extended their help to plant
ers and farmers in every direction, and
the banks, to the extent of their limited
capital, have assisted his lsudable effort
toward an expansion of Memphis com
mercial influence. Although suffering
more or less inconvenience from this
state of things, our merchants can even
now testify that it is not without its BEN
ehts. Their generous and spirited help
has already brought them indications that
not only those who have pro6ted by it,
but many h%eretoloTe hey ond their reach,
a-e buying of us, glad, as they confess, of
any opportunity that will in the least de-
gree identify them with Memphis. The
hardships of a stringent money market
all summer are not without their benefits.
We have cast our bread upon the waters,
and ere many days have passed it is re-
turning 10 us with a hundred fold in
crease. We have TO chronicle quite a stir
in the general market. This is the season
when baggiug, tWine and rope are in de-
mand, and the first calls for plantation
supplies are to he answered. Il is graft
fving to be able to state that in every in
stance those are being satisfied, and at
prices that it is hoped will induce a trial
of our market to a greater extent than
ever. Our wholesale merchants are de-
lighted with the prospect, and all pro-
phecy a season Of uueXampled prosperity.
In the dry goods, hat, shoe, cap ard hat
M wholesale millinery business, the ar
rangementso Of merchants are on a grand
scale, in preparation for an increased de-
mand from the country. The people Of
the contiguous States lsre learning that
Memphis is the young and growing city
Of the Mississippi Valley; that it is des-
tined 70 an extraordinary growth; that it
is now the only city in rivalry with st.
Louis, Louisville, Cincinnati or New Or
leans, and the only place that can and
does successfully compete with them in
prices and mercantile accommodation.
They know that while our merchants are
prudent, they are generous and liberal.
They want TO trade with US, and will, if
we only pursue the policy of far prices,
cheap freights and I0V Insurance. They
want to trade with a place that can and
does increase lis population at the rate Of
100 per cent every ten years. They have
pride in being associated in so grand an
effort. They are our friends, and viii re-
main so with anything like fair treat
ment. On Tuesday, the first day Of the
week, prices OF cotton were irregular,
buyers cOnfessIng themselves unable to
find lists TO suit; middlings, 1sZe. In
Liverpool the market.was firm at 91zd for
uplands; New York market steady, with
fair demand; middIings, 2O1sc. On
Wednesday figures were easier thar
on the day before, and sales
were made at IS54GISXc for mid
ding. In Liverp COL cottons were quiet
al 95sd for uplands; in New York, IN
changed in every respect, middling 20c,
On Thursday the market was depressed.
and middlings were bought As low as
l7H9I7Ac, though IS@lsLc were the rul-
ingrates. The market WAS easier on Friday,
~ wy A-hARNA1H AA4AAAAAAA=1 4N.ZEa III I
Liverpool cotton closed easier; up
lands ga. In New York the mar
ket was duh and unchanged, Middhng,
1870. On Saturday. the market wss mod
erately active al I7EGI7Ac for Middling,
In Liverpool cotton was quiet at % for
for Uplands; in New York, quiet but
steady, 1879 for Middling. For yester-
days rates we refer to the report under
the head Cotton"
WHO SENT IN FIRST BALE OF ALABAMA
C3rTON2
We give place to he.following, believ-
ing that the mistake thus corrected WAS
ours, and not that of our informant, who
is incaple of a mistake OF that kind viii.
fully:
TUsCUMBIA, Ala, September 9. 1870.
Editors IpTeli-ln you paper Of date .
September Z, 1879, 1 see that you give to
Colonel VIM. NJ. Jackson, OF this place., f,
the credit Of having raised the first bale {
of Alabama cotton sep to the Memphis
market. II he did, no one in this section
knows it. On the 5th day of this month,
1 brought to Tuscumbia q bale Of cotton.
raised Uy myself and J. G.. Wells. which :
was said TO be the first bale brought to
this market. 1 deposited this bale with
Messrs. Hillman & Co., with instructions f,
to send tito Messrs. Petit q Simpson, at {
Memphis. The North ILabamiaR and
Tunes, Of this place, gave the credit where
II belonged, "a no n has cOntradicted
its report. 1 feel satisfied that Colonel
Jackson would not desire the credit due
another, for he is not farming this year at
all, and certainly would not desire to
the papers publish to his credit a
thing he had nothing to do with. / can
not conceive how your informant could
have made such a mistake, and as mvselfI -
and Mr.. Wells made the bale referred to,
10y our own labor, We think we are emit
tied to the credit.
As 10 the truth Of my statement, l refer
you to Messrs. HIllmen & Co, Colonel
VIM. A. Johnson, and Colonel jackson, |
all OF T~uscumbia, Ala. {
Respectfully yours, {
JAMES A. ROREX. J