Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-07-04
FINANCE AND TRADE.
OFFICE OF THE DAILY APPEAL
MENPHIs, July 3, 1871.
THE WEEK

lands, and Ssas3d for Orleans.
The decline in New York and the
dizziness In Liverpool had the effect
to depress prices here to q certain eK-
tent, but did not cause the reduction
anticipated. The majority of the fac
tors offered lower grades at easier
prices, but were generally firm and
unwilling to make concessions ON
even the small lots Of even running
cotton of the better grades. Middli1g
sold at zoe. On WEDNESDAY,,
no little u~neasiness was caused
among sellers and many Of them
we're taken in by an error in
the quotation of Upland Middling in
the II m. dispatch by the old line
quoting that grade of cotton at I9l,
when other dispatches quoted the
same grade at I9Ec. Factors who had
lists, as well as those who had OILY
small lots to dispose of, were some
what demoraliZed by the error, and,
not knowing what the next quotation
wonld be, were really anxious to find
purchasers, and offered inducements
that were quickly taken advantage of
by those buyers who Were in the
market at the time. Ssles
for the day were 200 bales, including
% bales Ordinary, 142c; IA do 143c;
1 Mixed, ll3c; 10 re-packed, Ice; II
Good Ordinary, Ice; &c do Ice; 6 Low
Middling, Isle; l Middling I94c; 6 do
I9Lc; IA do, I9le. New York
closed firm with an advance of &c on
all grades; Middlings, 205c. Liver
pool market opened dull and closed
firmer but not higher. On THURS
DAY New York opened steady and
advanced fe. Liverpool opened
firm and advanced 1-16d, closing
steady with large sales. Factors adj
vanced prices &c, but failed
to secure purchasers for their
cotton. Some of the sellers, however,
only followed the New York advance
IN their prices and found buyers in
different and only willing to invest
where concessions could be obtained.
Middling. I9aI9!e. On FRIDAY
New York as well as Liverpool
considerably excited over the
decrease Of I39, 600 bales in the stock
on hand at the latter point by actual
count, and the decrease OF 1913, 600
bales by actual count in the stock of
American cotton added largely to the
excitement, and forced prices up from
s 9-16d and SD for Uplands and Or
leans to s 1S-l6a9d. New York ad-
vanced from 20sc at the opening to
20se, but soon after declined to and
closed quiet at 20i. The advance in
other markets had the effect to stifen
prices here, and factors generally were
disposed to advance prices, but failed
to obtain even the presence of buyers
at their tables, and were compelled to
reduce their prices in order to realize. /
Buyers were extremely cautious and
orders being limited in number, they
found in some instances that factors
would even shade yesterdays prices
to effect sales. Transactions were
than on any previous day dur
ing the week, and foot up 800 bales in. /
several lists; 1910 Was the !
extreme price realized on Miodling. |
The same excitement noticed
was experienced last year con-
upon the decrease of the
stock at Liverpool below the etimat-
ed or running statement. Last year, |
however, the decrease was but 620O0
bales, and In American 10000
bales. On SATURDAY New
York opened firmer st Do for
Middling and soon afterWard
advanced &c. on all grades, closing
quiet with the advance fully main
The excitement at Liverpool
in consequence Of the under estimate
Of stock did not abate any today, but
seems rather to have increased, as the /
were large-20, 600 bales, about
half OF which was sold for export and
speculation; az the close the
market was active and frmer
at s. for Uplsndss and sgd for
Orleans; the tendency Of a still further
advance in New York and the ad-
vance i'm Liverpool had a stimulating
effect UpOn the ideas of factors here
and q majority advanced their prices
from to &c. on the better grades, |
ana from to tc on lower styles. /
were seemingly Indifferent, |
and only purchased small lots where
they could obtain concessions. Mid
ding was sold at poe. To-day (MON-
DAY. in the absence Of telegraphic
from Kew York, buyers were
aud operated cautiously, each
making a tour Of the market before
deciding upon any definite action,
caused a slight uneasiness
among sellers; but buyers apparent
Indifference did not affect prices, as
The Liverpool kilograms reported that
market frmer at Ssa9sd for Uplands
and Orleans. Very little was done in
the early part of the day, but later the
demand grew more active, and at the
close sales had reached 500 bales at
irregular prices, varying &c on one
Included in the sales was a list
Of 225 bales, classed recently by a
number Of buyers at Strict Low Mid
ding and by others as Middling, at
.Uc; also I'D bales in pickup lots, by
another buyer, ranging from Good Or
at l65al7c to Good Middiing at
BIC, zoe being the quotation for Strict
Middling, and I9c for Low Middling. /
Other purchases were IS Ordinary, /
4GOOd do, 1859; 2 do, lie; 3 do, |
l7Ae; l3 do, Tic; and 8 do at lec; 7
Strict Good Ordinary, I8c; Z Low
Middling, Ice; 80 Middling, zoe; 204c
Was offered On one table Of 100 bales
average Middling, ana refused. Re- |
were 400, and shipments $40. |
Receipts for the week are 1880 bales; |
shipments ll42; and sales 1900, against
1877 received, 1910 exported, and 1850
sold, the week previous, and 73l re-
Il42 shipped, and 429 sold, /
the corresponding period last
Total receipts 10 date r 5O2,-
j63, and shipments sol, 15g; last year
Il this time receipts were 1880, and
shipments 275,l97, showing an excess
Of 2O6, 613 bales in receipts and 225, 942
10 shipments. The stock on hand at
noon to-day was 5704; last year atthis
late il was 1851. The receipts from
his date last year to September LIST
we're 47S7; should the receipts for the
Of the season even equal that
amount this year, we viii have re-
,eived jG7, $50 bales, placing Memphis
IS the third market in the country.
Middling Uplands at this time last
year sold at Liverpool fer ed, and
orleans at lOkd. In New York Mid
Hing was sold at 303e. Gold Was at
hat time 1913.
COTTON STATEMENT.
CHAMBER OF COMMERCE.,
MEMPHIS, July 3, 1871.
stock, September 1, 1870. $3.50
Reed since last statement 400 |
Received preyiouslY...-.- 59,16S-502, 5SS
SOC. sIS
shipped since last st'ment $40
Preyionsly-.-. sOO,769-SOl,l S9
at noon Today. 5,704