Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-05-18
MARKET

Arrivals were few and small and the
feed and produce markets were utterly
wanting in interest. The only Corn on
the landing was a lot Of los sacks white,
which sold for zoe. OGts were without
movement, and Hay the same. A lot of
$50 sacks Of Bran was offered at 500, but
up to noon there were no takers; the de-
mand for bran is very slight. COrnmedl
sold 81 $ 80; a lot of fresh went at
s. %, but that was thought to be below
the market. Flour remains very firm
for the medium and higher grades; some
dealers quote family flour higher. Butter
continues to droOp. Eggs are selling
from 10 cents upWards-I13 to 121c are
the prevalent rates. Chickens were in
plenty for the moderate demand, at yes
terday's prices. Sprouted peachblow
Potatoes sell at s., sound are held at
$ Is; new still quote at s. per Dbl,
with a good demand. Oranges remain
high, s.; Lemons 81 sos 50. Bacon is
very firm at the advance, with an up
ward tendency. Coffee continues to be
watched as the quotations have sudden
" advanced, but the general opinion is
that the movement is a "spurth and an
ultimate decline very certain. Sugar. is
held very stiff, with a strong upper ten
dency in crushed and A sugars, which
are scarce.
East and West India Cofees have
seen subject TO q strong fight between
the bulls and bears. Early IN the week
a few houses sold out their stocks OF
Maracaibos at about Isle, gold, for
prime goods, which were quietly bought
up by the bulls, and prices atonce ad-
vanced to 90c. Javas, MaracaibOs, La
gusyras, and all fancy cOffees'i are
steadily advancing in bond; the ball OF
speculation has been again set rolling,
and Western and city jobbers are buying
ali the goods in bond that they can carry
over June. The repeal of the duty and
the known light stocks of all dealers
throughout the country, are strong argu-
ments for an increased d~istributive trade
after July l.. The stock Of these goods
cannot, like Rios, get beyond the con-
troll Of the principal dealers in them,
while they act in concert las al present),
and we think it possible that country
merchants who are waiting for the re-
ductiOn Of duty before stocking up will
find themselves compelled to pay the
same prices for pure favored COffees,
such as Javas, MaracaibOs, Laguayras,
etc, then as now. The stocks are double
what they are generally at this season, to
say nothing of the unusually large stock
in second hands, while the prices of Rios
are from 4 to 81 cents above the prices OF
previous years. This is due to the ire
meadOus speculation, which originated
in America, spreading quickly over
coffee-producing countries and Europe.
The present fury on teas and coffees in
bond Is based on the expectation Of an
increased demand from retailers after
July 1. The demand viii, no doubt, be
good, but there is stock enough to supply
it and 10 spare, and our advice is TO buy
often, just what your trade requires, but
do not speculate ia teas Of cOffees al
present. Such Is the information and
advice givenin the american Grocer Of
May II.
The bill abeIishing the duty on tea
and coffee has passed both Houses Of
Congress, the amendment Of the Senate
making the act TO take effect the first Ol
July having been concurred in by the
House by a large majority and without
advisor. The President, it is presumed,
viii sign it. Though the reduction IN
the cost of tea and coffee which mus
follow taking off the duty will be ac.
ceptable TO the whole community, fol
every family uses these articles, il will
not 60 far 70 cheaper living. This il
but a short step in the way Of necessary
revenue reform. There are many duties
and taxes that press more heavily upon
the people and the industry OF ths
country that ought to be removed. Al
tea and coffee are foreign production,
entirely, there was no ppOtectionist Cd.
position TO abolishing the duty. Indeed
the protectiOnists favored the bill, be
cause a reduction IN the revenue from
these articles would give them an argu.
ment for maintaining high duties OF
Others in order to raise a sufficient in
come for the government. Acceptable q
the adjustment Of these duties may be
Congress must not suppose the peopl
will be satisfied with such a mOdicgm O
revenue reform. There ought to be
clean swee Of hundred millions Q
taxation at least.
Qa1OtdtiOns for feed are for round lot
on The landing unless otherwise expresses
BUTTER-Inactive at 24c for new pail
and &c for good.
BACoN-Breakfast bacon, 94a10c; elea
sides, Sc; clear rib, q; shoulders 5
G6c packed. Sugar-cUred hams withou
canvas, 11c9111c. CanYassed, 129l25'
for choice brands.
BRAN-Ohering at S26 90.
BEANs-Navy ia demand at 81 SOC
2 IS.
RTTILpERsl MATERLALs-LOuisvill
cement, per barrel, 81 25@3 25; plaste
Paris, 81 %; Rosendale, 50 COOS IS
hair, safe per pound; friedrich
81 50 Der 100: common brick, 81
per 1000, delivered.
BEEsWAX-2S@30c per pound.