Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-02-14
FINANCE AND TRADE.
OFFICE OF THE DAILY APPEAL,
MEMPHIS, February IS, ls71.
THE WEEK

MEMPHIS FEBRUARY la, laI1s
THE WEEK
ending to-day has been barren of any
excitement in the general market eX-
cept in grain. Oats advanced 81 TO.
zoe, and corn 6jt to Tic. Provisions are
firm and a shade higher. Mess Pork,
$23 IS to S24 so. Dry sailed clear sides
are y to l25c; shoulders, 8 to SIC;
bacon clear sides, I3c; shoulders, Toe;
breakfast bacon, l5l TO l63c; sugar
cured hams, 49, to lie. Lard Is quiet,
and potatoes weaker and a shade
lower. Groceries are firm and I'M
changed. We sum up our cotton mar
ket for the week, ana give a carefully
COMPLIED review of the cotton trade
of the United States, together with
comparative statements, as follows:
On TUESDAY there was an active
demand early in the day for all grades,
both exporters and spinneTS being
represented In the purchases. To-
ward the close, however, uniavOrable
advices from New York and the alb
senca OF European new, with tele-
grams from the East, reducing the
limits on orders, perhaps already par
tally filled, caused buyers to with
draw from the market. Prices were
q shade easier at the opening, pur-
chases Of ordinary being made at II
sI2c with sales Of small lots reported
as low As I0Ec; good ordinary ranged
from l2Eal3c; strict good ordinary at
1890; Low Middliug at l34al35c; and
MIddliug at Halle. Sales were
1860 bales. On WEDNESDAY, OW-
ing to continued depression in New
York and a further decline in Liver
pool, the market was weak and
prices q shade easier on low grades,
while good styles were generally
firm, with concessions only on small
lots. The demand vas fairly ac-
tive, both from exporters and spin
ners. but hardly equal to that OF the
dqv previous. Sales were 100 bales.
Ordinaries were bought at 1llal2c;
Good Ordinaries, l2tal3c; Strict Good
Ordinaries at 13tc; Low Middling at
I8l8l3zc; Strict Low Middling at lac;
Middliug at Halle; and Strict to
Good MiddIiBg, 144al5c. Exceptional
ssies of Middiiug were reported at
lac. and one buyer claimed that a
bright, even running list could not be
purchased at less than l4EC. The ma
f1rfrv of the purchases were, how
ever. reported at the prices given, and
included several lots of from fifty to
one hundred and frty bales, averaging
Low Middiiug to MiddIing. Eastern
d.suatchas report a decline Of &c in
sD1t cotton at New York and q COr-
responding decline in sales for future
delivery. On THURSDAY, there
wa but little activity manifested,
owing partly to the difference in
views OF buyers and sellers and part
~ TO the absence of large orders.
BUvers examined the market pretty
thoroughly, but were unwilling to
nay the prices asked for good styles
of cotton. and did not want low
grades. Sales were about 1000
bales. and were chiefly on Eastern
account. exporters taking only a few
small lots. O~rdinarle5 were picked
up at lOEc: ll1a12c was, however, the
ruling price paid. Good Ordiusries
could Be disposed of at 12lc, sales
being reported at that figure, and l3c
for an even list. Low MiddliDg was
bought at E8HfGl8He. and Strict Low
NHddlfng at l4e. Middiing sold dur
inc the dav at l4Hal4sc. On FRI
DAY the market opened quiet,
with q limited demand, which, how
ever, improved considerably duEng
the latter part of the day, exporters
and spinneTs being represented i u the
purchases. The prices OF the previous
day were fully maintained on all
grades above Low middling, while
the lower grades were a shade easier.
There were cases in which concessions
were made on the better grades, but
they were limited TO small lots OF
from two to five bales. Sales during
the day foot up 1894 bales, Of which
oue-f0UIth was taken on foreign &C
count. Included in the purchases
were 800 bales by n buyer, at a
bzsi. Of l44c for Middling; s2j by an
other. reported at l4sal4fc. Low Mid
ding was sold at from l3Ec to 1870;
and Strict Low Middling at 1870 to
lie. Ordinary was reported at from
Zoe to lltc, with exceptional sales az
IIEc: Good Ordinary at l~Z5al2sci
Strict Good Ordinary at l3sal5+c; and
Clean Stains al l3eC. On SAIUR-
DAY the demand was less active,
but, as on the day previous, both
exporters and splnuers were represent
ed i'm the purchases. Low grades
were easier and sellers, anxious to re-
aifze on them, made liberal cOnces-
siOns. Sales were 100 bales, lnclud-
ing Good Ordinary at l2lal24c, with
exceptional sales at 12+c. Clean Stains
of good style were also found at that
price. Low MiddIing was found at
I3Eal8ic. with sales of small lots re-
ported at l8Ic. Strict Low Middling
was purchased. at l34c, and Middling
at from IA to l4fc-the latter being the
outside rate paid. On MONDAY Ito
dsvl the market was inactive and
closed quiet, owing to U~ntavOrable
adyice= from the East. The
s8les we're 400 bales. The week
~ and comparative statistics are as
follows: Receipts for the week ending
at noon to-day are 1884 bales, and
exports 1887 bales, against l1,045 re-
csived and 1912 exported the week
previous, and II, 457 received and 6A54
exported during the corresponding
week in 1870. The aggregate receipts
for the season are 3j5,Sl4 bales and
exports 3I2,2 bales, leaving a total
stock On hand of $500 bales. Sales
Cor the week viii reach j., 800 bales.
The excess eff cotton to Memphis up
70 this time this year, as compared
with the same last year, is l6Z, $50
bales. I'd to the 18Th Of February,
1870. our receipts were 1875, 30 bales,
and up to the 18Th inst, 365, O94 bales.
The statistical position Of the Mem
phis market TO date, as compared
with the same date in 1869 and 1870,
e. as rafIFUEs