Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-01-23
FINANCE AND TRADE.
OFFICE or TIKI DAILY APPEAL,l
MONDAY, January e, 1917.
COTTON.


bsen unsatisfactory both 70 factors az
buyers. This wss occasioned manly 2
the falling OF in receipts - All q goLt'
which l18ted up l2S,0OO bales. Thes
receipts we're not considered either larg
or small They were 1900 bales IN e1
cess OF lest week, and q, 0OO less than 70
same tine last year. New fork mas Eel'
up admirably. the lowest point rescne'
there this week wss axe and LIVerPoo
giving away an &c on toe same day. New
York advanced t9 2lZc, and nom tina
point rose to 22Ec, Liverpool recovering
the &c the following morning. Inc mar
kets st these two POINTS have been fairly
active The position Of cotton Is Iuss hON
pretty evenly balanced; that Is nel
receipts show the state OF the crop 70 o
somewhere between three and three and
half millions. The course the market
may take hereafter depends upon the 10.
ture receipts. As they are heavy 50 WI
the "bssrs" operate ;on the other nsnoi a
they are light, so win the "bulls" work
New YORK this season has held the relns
spurred forward by Southern men who
invested and are investing largely in that
city in "~futures." Thus Southern men
have svsry advantage in knowing the
present and future Of cotton and backing
their ~o0n6denee in tbs position OF cotton
by operating through New York brokers
IN future cOTtOn, and operators ia New
YORK acting more freely and more con-
hdsntly on spot cotton, prices AVE, IN 8
great measure, been maintained. sup
pose the crop does reach three snd a hall
millions, It argues nothing, from the ract
that, compared with b demand for con-
sumption, il would be inadequate. Prices
mus, therefore rule high. lt Il nov
computed that there are In motion IN Lue
civilized Sorld $3.50, goo OF cotton spin
dIes, and il iAssid that the British spin
dlss alons are increasing at the rate OF A.
COO per week, while the operatives hsvo
risen from $500 3 450. 900. Should this
continue. Il is estfmsted that Crest Brl-
tain alone viii take $3.50, 600 bales OF 400
pounds each. We can hardly u on
this, Tor beforeit CONES, prices may cneck
operations; though before thSt could oo-
cuF prices would have to run very much
higher than even 25c, as it costs largely 70
stop mills. Say what We will the crop is
far short Of what could Be consumed and
it is no longer 8 question Of how low viii
cotton go, but how high. Still there are
some who have doubts, and express them
selves freely, and seemingly believe that
prices are too high and shat the bottom
viii fall ont; but with the foregoing facts
b5fcre rs No cannot Egree with them Our
tables below show the exact position COM
pRratiFsly, hencs il is unnecessary for Us
20 20 over the ground. Il win be emem-
bsred That on Saturday week b receipts
for tbatdsy wsze some 1900 bales, causing
New York to decline by TUESDAY 20;
miCdling, 2l5Sc, with 8 m~c1eEa-llF
scsive market throughout the day. spin
ners and exporters were in the mGTBst
but spscula1ors we're taking bat Htll9. In
instances, factors were willing 70
sell, while Others were firm, asking Sat.
urdsy's prices. The ms-kst was more
anHf-E Hn ~nmuannhnrn nF the fact hal rail-
roads we're receiving contracts, winch let
the exporter IN. There was but little do
in middling or the higher grades or
cotton factors generally holding stih Tho
market, IS sales indicate, WRs CT e. least
. from quotations Mondey, Ca WE'D
NESDAH the demand vas less active ths1
IN TUesdsy sid IS & shade lower price;
however, on ths advices from NsW York,
he market recovered st the close, ths Lass
from New York changing the
50ne with an. advance of q 20, that mar
having declined during the day ~
Liverpool closed duh snd 3 shade lower,
reporting uplsnds 81 10Zd and Orleans s.
.OZd. In this market holders were firm,
buyers a. tbs same time were unwiil-
ng 70 operate, and large sales could not
been made only on concessions, On
THURSDAY the market was dull and
lezvy. Buyers were nj very generally /
IA AAA42A AlALlH Wv SANLA@ wv q
fence but little was done. The greater
Of sales were for speculation
On concessions. The market, how
yer CLOSED firm in New York IS 2lZc,
declined during the Day TO 2lZo, /
g 8 point where operators were willing 70 4
Osd up, after which, TO keep Liverpool
advanced q Hc During the week, 4
Kidding and bright styles have bean held
-rmly BY factors, who look forward TO ST
an--ra MI .-~-H-a a- EarH- --n-aw~a I
D meet the advance, factors having their
rooms well filed, and anxious TO
nlOsd. The market here, early in the
~ ruled 8 shade weaker than on pT6vi-
DAYS OF the week. but in the eve
ing rail- Q, closed & Zc in advance
I the morning. On FRIDAY Fhs
vas considerably improved,
I'LL buyers were very cautious, while
actors on the other hand showed
o anxiety 70 sell, some even, not offsr-
AZ, anticipating = better market On
strength Of the upward movement
9th in Liverpool snd New York, both
having advanced during tbs
az, the latter advancing n &c, closing
oWev5r, quiet. On SATURDAY there
IS considerable speculation as 10 Whist
fsct shs receipts for the week would
sv6 upon New York, and in consequence
lere was an sCtive market; but on the
u Anb AEa 46Lollt5 AOA DasH
rdsv factors felt better, IS they
loWsd 3 falling OF o. 5000 bales,
impaired with the Saturday pre-
MlddIing, which was more sought
ter to-day, found ssis at 2Ic readily.
'eW York closed quiet; Official, 22Hc for
.iddlIng; unofficial, pc. Liverpool
ossd strong and unchanged Ga MON
AY to-day the demand was very fair,
~ factors were stiff, and large sales
Iuld not have been made only on c0ncsss
which factors declined TO make.
eceipts for three days were IS 600 bales,
Jout the same as compared with the
me number OF days LAST week. On Sax
rday 10 was believed that the me- re-
ipts from al the ports would Sir the
81. - and that the market would urn
De way OF smother; but the position is
lehsnged, and prospects are that re-
ipts for The week viii bs about the
me as last week, and that prices viii
lie about the n Kew York hiss
Eye5 on an &c since Saturday evening, ,
osing officially ct 22Lc. Liverpool ID
ssdy and unchanged. The market here
prices visa ABOUT the samo as 81 the
ose Saturday, except IN good and strict
lOd ordinary, which were 8 shade higher :
ID In better demand. Bright cOftonE
ere held shove tho views Of buyers, :
mes we ind no sales. The receipts Sc ,
is port for Sunday and Monday were :
98 bales; same time last year, Cos bales, :
CT for b tWO days Of 2707 bales. 4;
ls 6eicit September lst, 1871, is :
out 5000 bales at this port. We quote: