Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-03-19
FINAHCE AND TRAD :.
OEFIcz or THE DALI 6sPHAL, |
MONDAY, ZACH Is, lsI2 (

AoNOAns aAasNu 10 LIZA ]
C0TTOE I.
For the past four y ee1s tho cotton mar
k. ns been dspfes ed, All every efori
has been inside 70 reak down prices
Daring this tins cotIU4 twic forced itseli
upward. On last Sa.u day week ego
the decline Was checked, q ovlag upward
on Monday, Tuesday and y edn sday fol
loving, but declining sgsiD, - hist on las!
Friday middling dropped do, n n New
YORK TO 22Lc Not Withstand pg his we
have felt satisfied with our carry c0nvie
tions OF the situation Of cotton Rad the
probable result Of prices. As We remarked
In our report OF Friday, there is not =
thinking man on the market that does not
recogniz9 the fact that the net recsipts are
the sar6st and safest indication of an I'D
Fsncs, and that should the coming two
weeks roosipts prove as light as the past
two weeks, the position of cotton will be
dehaed, and prices, in consequence, rule
ot very satlsfac-ory figures. Spiunsrs
must then be convinced that the crop viii
scarcely reach 3. 00) 900 bales land may fall
s1oTt or this umD6 by 200 coo bRlesl
When thsy srs satizfsd that the bottom "a
touched, they viii rush into the market to
stock 40, and "bears" will thus become
"bulis" There srs yet seven months Of
consumption bef0re the next crop is
thrown upon the market. The capacity Of
the mills In Elrops and America. as esti-
@ AAA AALAAk LlN2
seven months, to bs about ! 500 J0 bslss
lowest estlm steA Tho stocks on hand q
ali the porte, 4s6 993; stock on hand 10
American spinnsTs hands, $50 900 bales:
stock tf1ss, 10000 bales; ia European
spinner hsn1s, 225 900 bales, This con-
sumption and stock added TO the probable
number OF bales TO be received, foOts
up q li.tle over 100000 bales, this low
est estimated capsoity Of consumption. |
Is Il likely that sPiEners as hons
and abroad win not contest the situstion /
and I'm 10 for thsir shsre sc soon as thsy /
are convinced of these fastsf New York
and Liverpool seem 70 be prsttyWsll
posted IS 70 the situation OF cOst5n esst Of
the Mississippi, u are IND have bsen ig-
nOrant as % the country west, entertain
n tbs itea hat there are large GUAM
titles OF co5tOn yet 20 como from the
latter section OF country. This last
IDEA however, "a losing ground, IS they
are rscsiving inf9rmsGon 20 the efso.
bat tbs cotton Of that section is about all
We review the week as fol-
lows: TUESDAY-The market closed on
MOndsy dull, indicating 8 further dscIine.
o. Tuesday the market opened quiet and
ruled dull. FACTORS were not pressing
ssles, End expressed themselves ia an
easy condition snd we're willing to wsit
Tor tbs reRction. Private Information
from NeF Orleans wss 70 the effect that
the impression prevailed there that
the market must react in g few days.
Tot depression and decline Is not seco1nt-
cd for BY shy one, Save in ths belief that
IS NsW Y0rki IS wholly Rs~peculstive mar
keJi tho op7ra-Ous are employing sn their
force to Drssk down prices, looking for
ward 70 extreme high prices when they
can unload "cOntrRcts" st 9 handsome
profit. Bayers were wary. Exporters
were out making inquiries and coca
EiOnslly taking q tsbls. The New YORK
market was dull, ruling sc 22Zc for mid
ding, and closing officially a. 2z%c. Liv-
erDo0l closed dull and hesY w; for uplsnds,
1l9llLdi Orleans, uZd. On WEDNES-
DAY there was an aotIve.lnquiry from eX-
porters throughout the day, lasting until
late IN the evening. Parties who had
bsea holding large tables for some little !
time LEI 90, swelling the sslss 10 fsir pro- !
portions. However, quite q mum
Der OF factors wers still stiff a.
prices above buyers views. The market
resched the lowest point In price !
reported for two months. Sales Of low
middltng were made az 20ze. but gsnsr-
silly held st 2IE2lLs Very little was {
doing : m-ddling, a. factors were espe-
ciaLy arm OF this grade. Tners was but
one sale OF m~}dding-llS bales 81 2iHc. e
York opened at 22Z, advancing at q,
y n 70 E5sc, declining a. $3.50 pm. to I
22kc suG eiusiDE st 22%a. We speak OF e
MS 70 show how vzclllssIng that market i
Is, Liverpool closed dull, with uplRnds, {
b lid and Orleans, 1854. On THURS c
DAY there was bat q moderate demand, 2
mostly hom exporters Factors, not z
-EithsEauding the fact that Nsg York de- 5
,hEsd IN Ie snd Liverpool "a, were !
stubborn 20 respond to the decline, snd :
lrsferrBd 70 hold q sWsit further devsl- ;
Buyers were buying small G
O.s, Helers nos of5Ting large ts- Q
lies. Rscsipts Tor six days wsrS AZ, 233 z
'alss.. Tho effect o. these small re- 2
Il would sesm, hiss not been felt, y
ither a. home OF abroad. On FRIDAY e
hers wss q slightly improved fseiiuR in q
Re market. Toe market In New York a.
ips1ed 50 22Ss and ruled q1is. and u
sro1g, closing quiet but stesdy g. the Y
sHzs figures, notwithstanding Liverpool Z
u~stsised Ehs decline OF the day before. &
sha. general feeling is thai the market d
z Aa5vs upward esTly next week. We 81
ons sails Of middling cotton az "
Ike, bn: bolcers generally vera stiff ct pi
iZe Al classes Of buyers were in Inc ~
asrkst today picking upsmsl lists. Rs OF
sipts At al the ports foE seven days were
400 bales, sssins. l02 4Sa corresponding 9
hs market, IS was anticipated, e
BOX the upward movement, 81 s
aneing in New YoEk ~ closing Arm It =
25sc In Liverpool tnsrs wa decided ~
Improvement on the opening disp4fca, -
ugtng 6Fm during she day Faclors Were 5,
a. ~ sdvaace from FRIDAY, holding y
liadHnE at 22G22Zc On MONDAY (to- Y
ayl there was 8 healthy feeling Ia the n
larkeg. FACTORS Wers hrm a. the advance
( Saturday and TO-DAY. holding mi6diiug %
22Zs Etr0ng. New York advanced "a g
.USing sreaay ct z2Zo, Liverpool sd 81
ancsd IA and closed strong. There was q.
strong effort on the part OF the "bssrs" ",
= New York to bresk down prices, but p
Tas not edectual up TO the closing; how e
yer. Ghs HbesrsD insisted on q "hearinY 4" o.
, ths report came "~dsofhsial," 2Z%s Tor s.
sdo!sng. New Orleans vas very firm o
nj Solo lsTgSg 81 % advances Of ~ from 70
sfurdsyie sa,es. Rsosipta Tor thrss days ~
ali the ports wsrs R,692, some $3.50 per "
az. We Quotes -