Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-06-20

The New York Chronicle Of Saturday
has the Observation-Disclosures respecting
the cotton markets up % Friday even
ing June 18th: .sIle total receipts al
the seapOrts for the seven days have
reached 1888 bales against 10, 762 bales
last week, Is, III bales the previous week,
and I2.0S3 bales three weeks since, max
ing the total receipts since the first Of
September, 1871, 2,57S,045 bales against
3.S45,I7 bales for the same perOd OF
lS70-7l, showing a decrease since Sep
temDer LIST this year of l,l67, I3l bales.
The exports for the week ending this
evening reaeh a total OF l3,5 Gl bales OF
which, y,7S5 were TO Great Britain, none
70 France, and 37l6 to rest Of the CONT
nent, while the stocks as made up this
evening, are now 16I ,634 bales. Com
pared with the corresponding week Of
last season, there IS a decrease in the ex-
ports this week of 1859 bales, while the
stocks tonight are 50, 2l7 bales less than
they were at this time a year
ago. The market for spot cotton
has exhibited less strength the past
week, but prices having fallen of about
DC for futures, there has been q sharp de-
cline. This downward movement was
mainly owing to the impression that
parties having out contracts for the
summer months had either covered OF
settled them; and as the "corner" was
therefore broken, no artificial demand
could be relied upon to maintain values,
and much less TO forces further advance.
The favorable crop accounts, and con-
sequent enlarged estimate of the yield,
have also helped to depress prices, their
tendency being 10 lessen the legitimate
demand. Still the offerings continue
light, receipts being almost nominal,
stocks becoming very small, and the
quantity OF American cotton through
out the world rapidly diminishing, while
the consumption, even at the present
high prices, fails to receive any decided
check; holders therefore appear to have
considerable confidence in the maintain
ance of the rates at a high point until
the new crop begins TO find its way TO
market. Bombay returns indicate
that compared with last year there is a
decrease this year in the weeks ship
ment to Great Britain Of $4,000 bales,
and that the total movement since jan
uary LIST now shows a decrease in ship
ments Of 1900 bales over the CORE
spOnding period Of 1871. Advices from
Manchester state that the market cOn-
tinued firm in tone to-day; but there is
no Improvement in the demand. The
reduction Of the bank rate has had 8 per
ceptible influence; buyers generally
showing a marked indifference 10 pur-
chase freely at the present rates. Pro
dueers, however, having booked a fair
amount of orders, are Indifferent about
pressing sales. To-day sellers have held
firmly for Tuesdays quotations; but il
has been difficult 10 obtain them. The
transactions have only been limited, and
are confined 70 buyers satisfying thelI
present wants.
It has been asked why IN view of the
present favorable crop prospects, prices
Tor the fall and early winter months re-
main so high? The explanation as We
understand it is very simple.
First-The world needs the coming
wear four million bales of American cot
ton-anything less Ban that viii be q
short crop. Tire experience of the past
two wears has established this fact, and
everyone IN the trade admits 1t. OF
course, under such circumstances, and
so early IN the season, with the future
weather and other conditions affecting
the r uncertain, few would be found
70 sell on the basis Of an excessive crop,
Second-It appears that even WITH
American cotton above lid, and soLAe
daseriptiOns of East India cotton scarce
Nv Id q pound higher than a year ago,
Manchester spinnens show a o disposition