Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-05-20
ToCKs - BoNps N LoNpoN.


The New York market opened quiet,
but became nrmer, and advanced on
al grades, closing steady and with hes d-
vance fully maintained. New Orleans
opened and closed steady, with a fair de-
manG, st l5HQl55s for Middling. The Llv-
erpOOl market was quiet throughout the
day, with no change in prices. Here the
market opened with 8 moderate inquiry,
and closed firm, with an advance Of about
80 OF the better grades. Buyers were
out early, and for the first time in nearly
q week representatives Of both foreign
and Eastern account we're in the market
together. The former, however, not pur-
chasing to any great eXtent-the prices,
Is they termed il, being too steep to adj
nit of large purchases with any prospect
| Of profit. Factors were Indifferent, and,
as offerings were comparatively light,
those who had anything like lists were in
| different during the early part Of the day,
and when the news Of the advance in New
York was received many had already
anticipated it and put up prices. The
sales were 720 bales, including 200 average
! Strict Low Middling at l4&c; 100 average
Strict Good Ordinary 1880; los do stl35sc;
26 Strict Low Middling 1870; 8 do l4Zc;
/ so Low MiddIng l4}<C; u do l414c; u do
lac; p do l45zc; 80 Ordinary 1890; 9 Mid
Stained l3c; Is do 1880; 8 Strict Middling
l5c; % Strict Ordinary ll5sc, and other
! pickup lots. The receipts were 557; ship
meuts 1Oll; stock lO,53l.
The New York Bulletin OF Tuesday, in
referring to the exports Of the year, and
the probable yield or the coming crop,
says: "Ihe future course Of our foreign
4 exchanges and the export of specie, for
the next few weeks, depend very msteri-
ally on the value Of the shipments of the
remainder of the cotton crop. 1t is, of
course, very difficult to estimate what
amount Of cotton has yet to come to mar
ket, or what proportion Of the receipts
will be exported. The most direct method
of estimate is to ascertain what percentage
Of the whole crop was exported between
this date and September last year, and
to apply the same rule TO the current year
making due allowance for any causes
which may seem likely TO vary the mOv
ment this year from the precedent Of last.
| We find that, Of the total Of 2,l7O, 600 bales
exported last cotton year, /, 100000 bales
were shipped between September 1, 1869.
and May ., 1870; in other words, S2z per
! cent, Of the whole eXpOrt went
forward during the hrsJfOrty weeks Of the
wear, leaving $4,000 bales to be shipped
between May 5 and September l. This
year We shipped . $50, 900 bales, from Sep
TENDER l to May 5; and suppOsing that
the same ratio obtainE for the rest OF this
year as in 1870, the smOunt TO be exported
for the conc uding twelve weeks Of the
| cotton year would be 10000 bales, making
8 total export for the current year Of 8, 256,-
600 bales, OF 1 .056, 900 bales more than last
year. According to this method Of ssti-
mate, We shall havs for export during the
| remainder of the cotton year, $40. 900
bales, compared with $50, 900 bales LAST
year. The question arises, are there any
causes which are likely to hold the x
port in check during the next few weeks,
beyond what operated last year, It does
not appear that the home stocks have been
largely drawn upon to sustain the late
large export, for the stocks at the ship
ping ports are IS 5000 bales above what
they we're a year ago, while the stock at
the interior ports show a decrease Of 49,
600 bales. There appears to be no reason
for assuming that the same ratio Of in
crease in crops which has been maintained
during the hrst forty weeks of the year
will not be maintained during the con-
Guiding twelve. So far, there is nothing
in the prospect of the new crop calculated
to induce the boarding of cotton in tbs
hope Of higher prices next year; and il
there we're, this consideration would be
set OF largely by the fact that the present
visible supply Of cotton is 652 900 bales
higher than 3 year ago. Upon the whole,
We incline % the conclusion that We nay
sCcepClast years movement as ssafe preCs-
rdsut, and that we may expect an export of
9haAA DuNrNeg hAANa AAaAAh jig ANAaAAE
twelve weeks of the cotton yesr. If this
conclusion be correct, we have to export
bstWeen May 9Th 8nd September lst fifty
per cent. more cotton than last year, or
an increase Of 100, 900 bales. By a careful
comparison of prices, we find that while,
g yesr sgO, middling uplands was quoted
a. llLsd at Liverpool, on the ist Of Sep
TENDER It had declined TO I'D, the aver
age during that period being g%d. Sup
posing thst cotton should average 7&d st
Liverpool for the next quarter, the price
would range about 80 per cent. lower
than during the same period Of 1870.
With an increase of so per cent. in the
quantity and a decrease Of 80 per cent. in
the price, 10 would seem reasonable to
conclude that the exports Of this staple,
for tie remainder Of the cotton year, will
exceed in value those for the same period
of 1870"
COTTON STATEMENT.
CHAMBER OF COMMERCE,l
MEMPHIS, May 10, ISL
Stock, September 1, 1870. 4,2SO
Reed since last statement - 557
Received previously. 49,, 475-SS,03
4g2, $40
Shipped since last st'm6nt 1,OII
Shipped preyiOusly-...-.... $50, 75s-4Sl, 779
stock at noon tO-day.- 1881
Imports.
Memphis and Charleston railroad. 81
Mississippi and Tennessee railroad 81
Memphis and Ohio rsilrOsd-..,........... p
Memphis snd Little Rock railroad. .. "a
DloauoLb atrs.ssssss.r-ss.. 10000. .sssssss..s.. EoU
Estimated per wagons. .................... so
Exports.
Memphis and Charleston railroad. 62S
Memphis and Ohio railroad .......... 2U6
steamers 10
COTTON IN NEW YORK.
NEW YORK, May 10, 10 s.m.-Cotton
opens firm. Ordinary, ussc; Good Or
binary, 1870; Low Middliug, I4Ic; Mid
ding, 1910; Good MiddIng, 1910.
IL a.m.-COttOn very quiet, and quota
JatiOus unchanged.
II m,-TrsnsaCJiOns small, and prices
declining. Sales, spot, 1000 bsles; futures, /
5000. Ordinary, llAci Good Ordinary, |
1870; Low MidGling, I5c; Middling, l55Sc; |
Good Middling, 1870.
n.m-Cott0n strong Sales snOt HOO /