Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-09-05

Sales were in advance Of The same time
last season, and prices were on a
basis of lS55sl9c for Midding. on
TUESDAY the market was bare of Mid
dlings, for which there was a brisk de-
mand. Sales were largely Of the lower
grades. One bale of new cotton,
classed as Low Middling, sold for lSe,
The market closed quiet, with prices
firm and the market bare Of the grades
for which there was demand. On WE'D
NESDAY the market was hrm, holders
being stimulated by the favorable sdvices
received from New York and Liverpool.
The market was bare of Middlings,
though there was q brisk demand for that
grsd6. Low grades were not much in
favor: one. or two buyers, in order to I'LL
up their lists, give ISL to lSAc for Mid
ding, which was q fraction above the
market. Buyers generally were Offering
I7Lc for Low MiddIing, though prices
were nominal and unquotsble. Owing
to the baroness Of the market several lots
changed hands at the following hgures;
Ordinary, I3 TO 14c; Good Ordinary, Is TO
l5JEc: Strict Coed Ordinary, l6Zc. A
bale Of new cotton classed as Strict Low
Middling, sold at l6c. Another new bale,
raised on Cane creek, five miles below the
city, was received yesterday; 1t clsssed
So Low Middling, and was well dried and
Riuned. The factor asked lSc per pound
for il. on THURSDAY inquiry was
- 80 -
brisk, but the market bsing bare only
small tables we're reported. The demand
was for Low Middling, which was very
scarce. MiddliDg Was quoted at Is to
IsLc. On FRIDAY the market was
still bare Of MidiliDgs. The demand
for them was brisk. Holders under
the favorable advicss received from
Liverpool and New York, were asking
higher rates for the smaller lists Of Mid
ding, which Is being held of Of the mar
ket IN anticipation OF g further ad vance
The market closed A. lsZ to l9efor Mid
ding. On SATURDAY the market
O. sned firm with a good demand for Mid
dlings, which were still very scarce.
Transactions were limited and buyers
encountered much difficulty in filling
their list. The day closed upOn prices q
shade higher, though We did not feel JUS
ri6ed in quoting Middling ct q figure be-
beyond lSL TO l9c. On MONDAY
the market opened with an sctiye demand
for MiddIings. Offerings were light, the
market still being bare of high grades.
Several BUYERS who are on the market Tor
Eastern account, were unable to MI their
lists. One bale Of the new crop Middnng,
brought ice: another from Mississippi,
which clsssed as Good Middling, sold st
dc; several small lots of the old crop
were picked up at the following prices:
700 Ordtnary--.-..-...".....-..'
Low
Good
The following, from the books Of the
Merchants Exchange, shows the stock on
hand, and shipments since our last: e.
CHAMBER OF COMMERCE,
MEMPHIS, September /, 1871.
Stock. September Z, ISL. 2,l76
Rec'dsiBce last statement. l52
Received previOusly.-..... 10 ~
2,468
Shipped since last ss'ment az
Shipped previOusly-"~-- 4eS- us
Stock at noon to-dsy..-- I,755
Imports.
Memphis End Charleston railrOsda.-. IL
Mississippi and Tennessee rsilroaa.-. II
Memphis and Ohio railroad ..-~---- 8
Steamers 4AU
Estimated per wagons. ...----"-..-- 10
Exports. ron
Memphis and Charleston ~rsilrosd..-.. 80
Memphis and Ohio railroad. .... 100000. "A
Steamers, nOrth-----.-.,......"-.-.".".. 40
Since our Annual Review" was
worked of we find that the total supplies
at the cotton ports from Septemberl ], 1870,
I'D to the latest msil dates, were 4,O03, 80
bales. against 2,Sg7, 236 bales she season
previous, showing an increase Of l,lO6 IA,
bales. The crop for the new year Is esti-
mstsd at 100000 70 S,250,000. We incline
10 the latter figure, and believe that with
the adjustment OF German and French
industries, so d~isssbnously disturbed by
the late war, there viii be an increased
demand for the staple at remuneratiYe
prices. In the Eastern as in the great
transatlantic commercial centers capital
is abundant, and will favor all manner Of.
business enterprises. so that there is good
reason to hope that our Southern markets
will be supplied with q sutnc1ency OF
means to move the crop Of 1871, should
the foreign aid be needed. We need rot
have any fears OF successful competition
in other quarters ofthe globe. The cotton
ascendsncy Of the South is secure, In
India, since 1865, the production has de-
creased. until in 1870 the entire export was
only 1888 900 bales 20 Great Brissin, a de-
crease from the maximum Of 1856 Of about
1000 o bales. India csn never be q great
cotton-prodUcing country. Its immense
population necessitRtes the application Of
much Of its labor 10 the raising Of bread
stuffs, and &C. has been found wholly inn
possible to raise cotton In competition
with the South At q rae that Will admit
OF the DnFtuaH1 q BEEIl1EAEHt ADN N1dNt
a margin Of profit for clothing and cOn
~tingencies. Egypt, i0rthe same reasons,
can never be a largely produeing cotton
country. Of Turkey. Syria. ths-Hawsi
ian and We ndia Islands, we have no
fear. for To p-oducts are Emau and com
psrstively uni upOrtant. Brszl may, IN
The course q. msny years, become 2 great
country, spd be q formidable competaeor
OF the South; but this cannot occur for 9
long period. Australia, for many reasons,
cannot be z competitor, at least for many
wears. We are safe from successful oppo-
Eition from any quarter, especially in
view Of theT fact That on an average our
cotton is cleaner, brighter and OF iengor
staple than sny other offered. OoUbon mas
been the basis Of the prosperity OF the
and wilicoutimue 70 be. There Is no
limit TO her capacity for producing The sta
ole. The eleven cotton States comprise an
area Of about S0,O00.0 600, or not quite per
cant. are cultivated. and contains 3 pop;
ulation of about 100000, or abOut Is 70
each sausre mile. II, therefore, with noe
z per cent. OF the land cultivated, and
such a sparse p~opulstions these eleven
States can now produce 4,25OsSVe DalesI
what may We not rigbtfully expect to be
produced when her territory Is as thickly
settled and cultivated Is the State Of New
York? While the large crops produced
are evident to ali, but few property
holders regard the lsrge consumption pro-
gressfug. Verymuch more ottOnis needed
now thsn in 1860, and this wants OF the
entire world are stesdily increasing: so
that while the South will certainly contin-
neto increase the sizs OF her crops they, In
the average Of years, will not at slI ex-
coed the increase in consumption "Ths
altered conditions Of labor will not affect
our cotton production 70 all; for labor IN
the South IL less expensive to-day than
in 1850. and only o6e-bslf as costly as In
the Northern and Western States. The
free system works we'll as Is amply
proved by the large crops produced IN
is7O-7l, and We have reason 70 Delleve II
will dc better in future years, cut on as
Il will be from the deleterious influences
OF political organizations. Inc new yeaf
opens brightly.
COTTON IN NEW YORK.
NEW YORK, September 4, y Moot
ton 0uist but firm. Sales, 400 bales. Or
binary, I6Lc; Good Ordinary, lzhei Low
HiddIing. lsZc; Middling, 1890; Mid
ding Alabama, lekc: Middling Orleans
MO. Kidding Texas, 1850. Contracts
for September. ice; October, November
and December, lSAc; January, 1sc. RED
rusry, l9Zc; March, 1880.
1915 a.m.-Cotton quiet and steady.
Sales for future delivery, 1000 osesi
october, 1870. rsdat
COTTON II LIVERPOOL, iral
LyERPooL, September 4 II Am.-Cot-