Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-01-03
FlRkkCE kaB TRADE.
OFrTcF or THE DAILY APPEAL,
M-.rwurz January . 1871 Z

MENPHIs, January 2 ISL.
Tbs year 1871 opens on a duh market
and a gloomy prospect for the merchants
OF Memphis who helped their planter
friends during 1870. Notwithstanding we
have received fully 49, 600 bales of cotton
more than was received up to the same
time last year, and have handled more
money, we are far IRON being In IS good
condition, because the outlay Of our, mer-
chants is yet In the creditor side Of the
edger, with little prospect Of an early
balance. The people who owed In New
Orleans and elsewhere. ave sold hare
and vice versa. OF course, there are some
executions 10 this rule, and they are hon
orsbls exceptions, men who look far
ahead and realize that honesty is the
best policy" and that it is by sustaining
the merchant that the planter may hope
20 thrive. We have been selling q great
deal Of cotton, out we have not sold our
proportionate share Of goods. Business
men Of all branches complain and their
complaint Is loud and long. They are
nearly ell behind in their collections as
veil IS In The mount Of business done
last yesr. And We do not see any pros
poet, we regret 70 ssy,of an Improvement
of our condition this year Of ISL, unless,
indeed, The war between Francs and
Prussia closes and a sudden advance in
the price Of our staple quiOkeus the
pulses Of trade everywhere. This is our
only chance. The payment OF their in
debtedness on the part Of planters would
affect rs fsyorably, but it would not az
ford Us the p-srmaneuEraIief that al desire
from present monetary stringsnCy.
In reviewing last weeks operations in
the cotton market, we end that on TUES
day there was q fsjE demand, but holders
were not as 8 general thing, willing to
couosje, except or low grades, for which
there was but little inquiry. The decline
OF nc n New York, and The bsd weather
which prevented the handling Of the
staple. eoued down our market about IS
10 sc, and sales to-day, which foo, up
200 bales, were made on the basis ofI4I
Gl4lsc for middIngs. On WEDNES-
DAY. the sales footed 200 bales, and
prices were weaker on low grades, but
we failed TO End any weakness among
holders Of Eiddliugs sud Strict Mid
dIiuEs. The latter we're very scarce, and
searchsrs for Coed Middlings went over
tbs market without finding a dozen
bales. Many orders were on the market
limited 10 1899 for Low Middlings, but
only exceptional lots could be found at
that figure, as full styles we're held firm
At lac. Mixed lots, running from Ordi-
nsry to Low Niddlings, or even to Mid
dlings we're picked up, but in all such
cases sellers let 90 TO get nd Of their low
cottous, for which there was really no de-
msnd. On THURSDAY there YVES a good
demand hut a. prices lower than those Of
TLe day before. Only q few sellers were
willing TO accept the situation, though
offerings were quite large. The decline
in Liverpool and New York caused q
similar drop hers on low grades, but
holders Of Middlings and above did u0s
show q disposition to recede from the
figures Of Wednesday, knowing that fine
c0Ilons are sesTcs, ard that they must be
taken even though no shipping margin
existed between this point and the facto-
ries. The day sales foot up 300 bales,
including 500 taken yesterday and not be-
fore reported, Middlings I4Gl4Jsc. On
FRIDAY the sales footed mp 26OO bales,
snd prices WsSe somewhat irregular.
MiddIings in the IOrniug opened at l4G
14Ec, with light demand; put the Liver
pool dispatch announcing a large OYER
estimate Of stock iu that market, caused
an decreased demand, and holders asked
I#-r- Hr=~ &. aa---e------- -E-n-a {
ing fully Ac on hns grades. The next
dispatch from Liverpool, however, an I
rouuosd s all Of lied. This Just follow
ing the other, led buyers TO think that :
che one relative 70 stock was bogus, and :
many ~ them withdrew. Al grades
shove Low Eiddlings were very scarce,
aud prices generally firm. Nearly all Of Z
our buyers in their letters to c~orrsspou- :
dents. advise those who want fine c0ttons q
20 buy as early as possible, as it is not
probable that the crop yet to come for :
ward VIII class as well as that already re- q
csived. On SATURDAY there was not {
90 much demand and sales only amounted
% 1900 bales. Prices we're much the same :
as on Friday though some buyers claimed
they obtained concessions on low
grades. Fine ones were frm. and the Z
demand was active for all grades above o
Good Ordinary. Middliugs we're I4IzE
I4H To-day being a holiday there was Z
not much done. What was, Is reported e,
below.
on LIPDRrS-gHANGEs WHICH OC- =
UEEED JANUARY I, 1871.
The changes which have taken place in =
the duties on imports are just u0w topics Z
conversation no business circles, and =
ere Of special interest TO 2 large class Of Y
merchants. IT, hOuld be remembered n
these duties are in gold. They are =
a. t1l-JWz: n
on Turin. Ma TTH#T.