Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-06-14

Thursday the market improved in the
absence of Liverpool advices, and $50
bales changed hands on a basis of 2lc for
Middling and 2lh@22c for strict. Hold
ers weakened and exhibited a greater de-
sire to sell, hence the variation in figures
as compared with wednesday, when they
were yet pretty starchy and sanguine'
Friday brought news from Liverpool and
New York favorable to the views Of hold
ers, who stiffened up again notwithstand-
ing the prevalence of a cold rain. The re-
suit was unfavorable. Buyers u moi
hnd any margin and they left the tables
pretty much as they found them, con-
t%anting themselves with 100 bales which
they bought on a basis Of 2lc for Middling,
the ruling rates being 2Ik@2lHc for Mid
ding. Saturdays market opened at these
last figures, and holders determined on
them. The result was nothing was done.
The weather, which continued rainy and
miserable, encouraged the feeling, and
the news from the growing crop aggra-
waited the gloom. At the close of the day
news of a decline of a farthing in Liver
pool reached us, but it was too late to
affect a market which closed as unsatis-
factory and fOrebOding as the weather.
To-dsy there was some inquiry early in
the morning, but the decline in New York
put a stop b operations, and toward noon
no buyers could be found. The ~transac-
ions were light and Middlings sold as
low as 2O2lc in small lots. There are no
orders on the market, and quotations.at
the close were nominslly as follows:
Middlings 2OM@2lc, Low Middlings 2O@
2OIzc, Good Ordinary I8@lShc, Ordinary
I549l6c.
We see no reason to change the opinions
expressed by us on Saturday. The wealth
er of last week was so were as to tell
heavily against the extraordinary exer-
tons planters were making for acrOp that
might approach in number of bales if not
in pounds that of 1861. To this end they
had pressed everything they could COM
mand Of labor and money. Memphis in
surance companies, banks and merchants
had been drained almost dry, and credit
in every department was strained to
helpin the development. of the planters,
desire for a big crop of cotton. That the
result will tally with their expectancy is
doubtful. If it does not many of them
NAV have to learn the lesson that all cot
ton and no bread will not pay. Indeed,
in any case, crop or no crop, this lesson
will have to be learned. The man who
plants cotton to the exclusion of corn,
and who pays from s. to 81 per barrel for
it, cannot make money, especially when
he has to pay q heavy bonus and high
prices for labor which is uncertain and
difficult 10 control. The planter must
abandon all hope of sustaining himself on
imported food at high prices. He can no
longer afford to bring bis bread and meat
1900 miles by railway, and employ the
white labor of the West and NewEngland
| at 81 so a day, to raise his grain and meat,
forage, horses and mules, and ship them
at large expense over a great distance.
He must do as they do or be will be ru-
ined. He must produce what he con-
sumes and sell only the surplus.
As we write news reaches us
of a most distressing and disa-
strous character, tending to con-
firm us in the belief expressed, that
last weeks weather brought disaster in
It's train. A correspondent from Madison
county, Tennessee, says the farmers COM
plain of grass and rank stalks as a result
of two weeks Of almost uninterrupted
rainfall; and we learn that the region be-
tween Moscow and LaGrange for ten
miles vide was, on Friday last, visitad by
a hail storm Of qnexampled seveley,
which beat the corn and cotton n the
ground, and left the planters in a state CT
bewilderment as to whether or not it were
best to replOw and replant. On the same
and the succeeding day a bail storm COM
menced on the st. Francis river, Arkan-
! sas, ten miles above Council Bend, ex-
tending toward the mouth, crossing the
Mississippi aud taking all the lands of
Bolivar and Coahoma counties by way OF
| Beaver Dam Lake, stripping corn and
4 cotton and beating the stalks into the
earth, SONS Of the hail weighing four
ounces. The prairie region of Mississippi
has also been disastrously visited. The
| rains of eight or ten days past have devel-
oped grass and lice to an extent, in many
places, beyond the control of planters, and
fears are entertained that the crop has in
that and the sections mentioned been re-
duced fully one-third. As are those of
LAGRANGE and Moscow, Tennessee, so the
planters Of the prsiries, CoahomtoDL
| Bolivar counties, Mississippi, and por-
tions of Arkansas, are IN ~aqqandsry what
best to do. And this is a story that may
be repeated of many localities yet to be
| heard from. Where are now your pros
poets for a 4 yGO9, 0OO-bale crop?
II STATEMENT.
CHAMBRR or COMMERCE.,
kzHPH1s, June -, 1870.
stock, Sept. l, 1859. .,,,,, ,,,.. 81
Reed since last statement. 400
Received previously.."..2s2,2 74-2s2,6S
SAN
shipped since last sta'm'nt 5l5
shipped previously ,Oe9-27O, 6O4
stock at noon this day.. 12,I7s
Memphis and Charleston r. b.. $50
Mississippi and Tennessee K. R.. q
Memphis and Ohio R.R.......-...-.-. A
loz
wagons "a