Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-02-20
APPEAL
ANEwEr no THE AvALANCHE

We recognize ii as a fact that there
is neither profit nor honor in journal
istic controversies, hence the APPEAL,
save In defence OF principle or verae-
ity, never eondescends TO notice the
'tslings and arrows" of those who are
nothing n they are not obviously con-
tsntiOus. The Avalanche deals largely
Ia this sort of business, and almost
every day has something to say about
the APPEAL. Heretofore we have not
noticed it, but an editorial in its issue
Of yesterday forces Us to break our
selEimposed silence, and to "let 1t see
itself as others see it." The success
which attended the APPEAL'spositiOn
upon the cotton market during the
recent furry about the Alabama
claims has excited the envy Of our
contemporary, whose inclinations are
well known to be against Memphis
and for the foreign buyers, be they
from New or Old England, and it lets
itself Of in this, its accustomed style
OF mingled sneer and misrepresenta-
ton:
The Hssllers Of cotton" IN Memphis W
much of their success to their own bust
ness szgacity, but 1t IL Is clear ss The
stains on old seed cotton that they would
be at the mercy Of spectators In New
York were they not protected from the
rapscity OF that class Of operators by the
foresight and admonitions Of q con-
temporary, The Bo-called "wRr cloud"
which rose from The agitation Of the al
ALBANIA claims" knocked prices down sc
in New York, but as b cloud disappear
ed cotton recovered &c. In Memphis, on
account Of speculation, cotton had been
worked relatively higher than elsewhere,
and consequently the decline was great
er, being fully DIS cent from the same
cause hat depressed the New York
market 80. The wave Of restored conf
dsnce reaching us from New York,
prices have recovered &@Hc. It must be
observed, however, thsE these huctustlons
are not 50 much oocssioned by " war
Clouds" receipts, supply, demand and
consumption IS by those naughty specu-
lEtors in New York, who are checkm9ted
only by the foresight and hindsight of our
contemporary. The s~issllers Of cotton" in
Memphis are now independent Of "Als-
hama claims" rscsipts, production. on
OF 6p6Cu4asOEe III NGH LUX VI
elsewhere. They need only heed the in
structions and ignore the quotations of
the seer, - snd If they don't succeed, then
there must certainly be something wrong
At the other end Of the cotton market. IL
viii always be right here.
AS proving our charge that the above
embraces distortion Of fact as well as
sheer, we append the following table,
from which 1t Will be seen that cotton
has been on the average very steady
during this month. Although there
is q difference Of q cent between the
outside prices on the sth and those on
the 18th, this market at no time re-
sponded to the decline, which is re-
corded in the days report as merely
nominal" Sales on the 18th, the day
on which the lowest price was reached,
were only 600 bales. Factors would
not make concessions, and buyers, in
sympathy with their wishes and de-
sires, would not give the figures asked,
and upon the sale Of only sic bales Of
middling the quotation OF twenty-five
cents was made. But here is the Ia
bic, compiled from our files: