Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-03-05

NEW YORK, March 4-COtton decidedly
lower: sales, 2000 bales; Uplands 214o. Flour
Wheat dull; No. sspring sI 27gI g Corn 80
G99c. Rice dull. Coffee firIn; Rio l3H6E iSc
sugar quiet; Cuba. s1S9lOe; Havana, lO5Sc
Dry Goods Business rather quiet. Cotton
goods remain unchanged. ArnOid's prints,
SIC, and Lodts, 95ac Occidental, lOc; Saun-
ders', l0c. Spragues, fast blacks, 95<c. Cot
tons, A bleached, ls1zc; dressed are un-
changed, but weak.
No1ey-Money unusually easy, at 1906 on
call, nearly all business 1865. A prominent
bank to-day made a loan for go days at s. TO
a Government bond firm, but this does not
afIect the feeling in regard to the future. In
the money market loans have been made for
80 days on stocks at ~, and commissions Of
1z14F. There is an increasing fear of a closer
ih.'hCy .liH! het ~ ~ plili WhSii t4io oIuhtly
viii be likely To call upon the city for eurren-
cy to make her yearly settlement business
paper nominal, sterling heavy and lower,
at 81 2aSls. Carrying rates for gold per cent.
10 hat. Clearances, 81, ,O0000Q. Governments
heavy and lower, but closed steadieT. State
= curitieS weaker. The decline in new North
Carolinas was based ON t6e following tele
gram from kaeign The bill repgdiating
all special tax bonds passed both Houses by
large majority II is now a law. The Court
wiz declare bonds unconstitutional O.d
Tennessee's, 653a; new, 4514.
The Gold Room to-day has been the
scene OF intense excitement, and the price
declined to llz.5, lowest point touched since
August 10th, 1852, when II sold at li2& The
downward movement began yesterday after
noon, and sales were made late in the even
ing as low as il414. This morning before the
formal opening Of the Gold Room, transac-
tfons were between ll43Egll3Is. The nrst re-
corded sale was 1875, after which price fell to
ll3l<, again advanced TO ia. fell to lI2zs, aud
closed at ll8%. The Post says the market was
depressed by weakness in Foreign Exchange,
ana by the statement OF the Foreign trade
movement OF the United states, telegraphed
from Washington yesterday afternoon,
which makes the balance Ofthe trade against
this country for the six months ending
Ne Innr "a
the statement is an official one, il is entitled
to considerati On, although IL bears marks OF
having been prepared 10 make as favorable
an exh ibit AS possible.
are enormous. and that the adverse balance
should be- S20,00OOO0, instead Of $1,000, 90; to
which should be added Si5 O0000 of Interest
on the bonds held in Europe, making S55, co.,
900, or at the rate OF go per annuIn.
The Ceramercidl adds, however. that this bal
ance, IL Is assumed, has. been set onby the ex-
Tne cotton crop is very large, and being
marketed rapidly. Caution on the part Oi
ifouorters has brought Imports ana exports
closer tOgei her than for years past, ana the
Official figures show our loFslsn sra9e Is near
" eVanIV bal anced. IN these official figures
~, ar~ount Is fnRde OfshipmentS Of American
securif5as and there are many believers in
tbe theory that Europe is in debt 10 America
and not america 70 europe. Thus u will be
seen that the railroads are bringing the coun-
try TO the verge OF specie payments Il IS the
natural and real cause OF the present decline
The decline in gold to-day unsettled trade
In mercantile circles and had q depressing
effect on the produce market, Provisions Of
all kinds lower. Flour declined l5c; wheat
dun and almost unsaleable, nOtw outstanding
the cable dispatches reported an advance o
Lad IN Liverpool In cotton great depres-
sion was felt; buyers ana sellers brought bus
mess very nearly to a stand STILL Prices de-
ciined fully &c, and there was no disposition
to specul ate on still lower prices in future.
The decline Ia cotton, Of late, has entaiied
heavy losses ON spaculaTors holding cotton
| In hope of a spring rise, and the market is in
a feverish condition, which might result in
much lower pricess II the cotton on the spot
was taGoWz 81 the naarket