Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-02-11

estimated to be equal to s, 727 ,093 head
OF the average weight Of last year-an
increase Of l,234,03O, or nearly fifty
per cent.
A NEW NATIONAL BANK.
The New Orleans Picdyluqe of
Thursday announced that on that day
the New Orleans National Bank would
open for business, at the banking
house, No. 81 Camp street. The man
agement Of this new bank, which, as
we understand, is beginning opera
tiOns under very fair auspices, is en-
trusted 20 a board Of directors COM
posed of the following gentlemen: A.
Wheless. President; J. n. Beadles,
Vice President; ]. K. Bell, II. Block,
J. L. Dunnica, S. DelgadO, Z Q.
Palmer, T. Henderson, J. B. Van
horn. J. B. Woods, A. Chapsky, G..
d. Fisher; Richard Jones, Cashier.
RIVER FREIGHTs SOUTH.
The ST. Louis papers, says the New
Orleans PicGyJU1e OF the 9Th instant,
0u0ta river freights from that city to
New Orleans at zee per Dbl for -four,
81 for whisky, and soc per 100 lbs for
corn. oats, bacon and lard. On the
other hand rail freights East are pretty
high, viz: 81 40 per Dbl Oh -four to
New York, and 55c per 100 lbs on
grain. There was one line loading at
zoe per Dbl on -four, and Zoe per 100
lbs on grain less than the foregoing
river rates. These figures ought to
establish q heavy export movement
of -four and grain from this port. The
rate of ocean freight from New York
is - Sd on -four and I'd on grain; from
New Orleans, A. Sd on -four and l0d
on grain. The through cost Of trans
p~Ortation on q barrel Of -four from st.
Louis via New York to Liverpool is
-. while the through cost via New
Orleans is 81 g.. The through cost Of
grain by the former route Is 81 per
100 pounds, and by the latter CSC. If
these river freights are retained, il Is
very probable New Orleans may do a
very large export business in -four
and grain this spring. Let Western
shippers send Us supplies, and buyers
viii be found.
COTTON SALES TO DELIVER.
The New Orleans Times Of the 9th
has the following, which we think Of
interest to the cotton trade Of Mem
pnis: The resolution offered at the
meeting of the Cotton Exchange last
evening was not, as printed, ''that
contracts ia futures shall be made
in the Exchange Rooms" but that no
contracts shall be made, etc, the i'm
p0Etaut word ''nO" being accident
ally omitted. We referred to the
prompt rejection Of this re5OlUtiOn-in
favor Of which we understand there
were only two vOtes-6s signi-
hcaut Of the spirit Of the exchange.
We reeur to the matter not only to
correct the error mentioned, but to
call attention to this expression Of
opinion from so large and respectable
a number Of our leading operators in
the staple in favor OF sales for forward
delivery. Spectators in New York or
who wish to operate either
for a rise or fall, or spinners who de-
sire to purchase for future delivery,
can readily effect their object in New
Orleans as well as in New York or
Liverpool. With the telegraph at
their command, they can keep their
correspondents here fully advised Of
their wishes, and give or cancel or
5ers without delay. As We have on
more than one occasion mentioned,
are opposed to all transactions for
delivery, except for specific lots
Of cotton, In transit from interior
OF other ports, OF ready for be-
Ing forwarded OF shipped. This is
Is technically called in New I
York "c0ttOn to arrive'-nOt cotton
-Or forward delivery" But inasmUch
8s this general dealing in futures"
has increased to an enormous extent
10 other markets-especiaily in New
YOrk-and the trade here has mani
Tested a desire to participate in it, we
hope for the benefit Of the brokers
who will make their commissions on
such negotiations, whatever may be
the profit or loss Of the speculation,
that they will be furnished every
proper facility for the purpose. To
.how the extent to which this BUSH
ness Is carried in New York, we give
the following statement Of sales for
v4aF Hrn uaakEs