Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-03-05
FINANCE AND TRADE.
OFFICE OF THE DAILY APFKAL, I
MONDAY. March I, 1871 4

04AA&3
At the close OF our review last week we
left New York weak snd declining, re-
porting middling at exc, and Liverpool
dull at, for uplandE, uH9llZd, q Or
leans MD. This market islt the depres-
sion, and for the first time since cotton
took the upward was quoted for
middling less than 22e, closing weak
st 2lSe. We enter ain the same obin-
o heretofore expressed as TO the hrm
and positive position Of cotton. The net
receipts for the week ending Friday were
7A,I5S bales, against LII, 9S5 bales CORE
spending time last year. For the coming
week last year they were lS6, 5SS bales.
Saturdays receipts were 1865, pointing
to about 90. 900 bales for the week These
light receipts must tell upon the market,
Supply and demsnd govern the price Al
all times, and this rapid decrease In the
supply will quicken the demand, and the
natural consequences will ~follow-higher
prices and an sotive market, Operators
in New York n other leading markets
in the world buy and sell in cotton to
make money, and if prices did not huetu-
ate, If they could not, almost st will,
at any time control the market, they
would be the loser from the beginning Of
the ssssOn TO the end. The New York OPP
orators can well afford TO employ many
thousands Of dollars 30 bre K the market.
This they hsve done, hence the decline.
The only Offset to this is liOs in the eau
ton Of the planter, who should be careful
q not overload the factor. No one, not
eve the buyer, gives any cause for the de-
cline, othsr than that Of speculation, pur-
posed 70 weaken tbs market. The
crop Is likely 20 fell short ofthst ofIS69-7O,
while the consumption is said to be thir-
teen per cent. greater. There is nothing,
therefore, from q statistical point Of view
to indicate Low prices, hence the conf
dsncs and hrm1es Of factors in this
market. Ga TUESDAY-This being a
holiday in Englsnd, we were without
Notwithstanding New York msy be
said TO have well maintained yesterdays |
closing prices, Liverpool having closed
dull last night, snd New Orleans showing |
but little activity, our market was
shro1dsd in thst doubtful state which, 4
while causing free snd We may ssy sDx-
tOus Offerings, had inspired en- equal eau
ti0n upon the part Of buyers. Hence, in
the main, TO ehsct sales, 3 concession OF
about re was inside in the aggregate, !
most f~scgors, however, holding slOof from
the Market but willing TO sell at q bssis OF
22e for middling. The market closed
heavy. On WEDNESDAY-There was
but a light demand. The weather
was u~nfsvorsbls, being very cloudy.
New York was dull and declined
AZ 20; middling 22ze. Liverpool wss
also dull and unchanged. Factors here
were still firm At quotations, and viewed
the situation In the same light they
have 80 tenseiously held TO tor the past
four weeks. On THURSDAY-The mar
ket was dull and lower, holders feel
ing ths force of the money pressure
the advantage which the operators are
now taking. Sales were larger than for
several days; factors we're instructed 70
reslIza. New York declined kc, closing
81 223kc; Liverpool was dull, declining
I T2T En1na ~-ada hn-o wnrc Mt q ID /
cline Of H@Zc from yesterday. Factors
who we're not pressed to sell, we're firm at
prices that buyers we're unwilling to give,
Che former firmly believing that a resc-
tion would take place in q few days The
sale of futures indicated an eager desire to
take all that was offered on the market at
prices IS reported by telegraph. On FRI
DAY-Thsre was q slight improved de-
mand. Orders we're more numerous, but
only on q low limit. The sales we're most
II made with local spectators, who
we're unloading 81 the best prices they
could get, with the visw Of loading up
again. Middling was sold at 2lLo; how
ever, factors were firm, snd refused TO
sell at g less figure than 2Izc. New
York lost Hc, and Liverpool I-16d during
ing the day. On SATURDAY-The
market opened with about the same
as at the close the night before
The New York market at twelve O'Clock
v - EEDDIs1G Qulbs UAlk EL6hA1s hAu EulE4 Il
80 throughout he day. Futures advanced {
an Is to re. This gave the market here
, slight improved tone, and free sellers /
Friday wsre cut OF the market to-day.
The indications are favorable for q better, !
If not sn advanced market the coming
week. Toe influences that have been I
brought 70 beSF upon the market to de-
press it, have run their course and the
must sooner or lstereTeact. It
would seem as though the bottom hsd r
bsen touched snd that the reSction would q
from tbs present point. Buyers |
we're actively engaged in Hooking round"
sounding for the bottom, and Wher-
5ver they found g Wesk holder they
and in some instances there was
IN esgerness exhibited 90 buy st inside L
quotations. On MONDAY 0o-dsy)-The l
market wss much improved. In Satur- c
report Weexpresssd the opinion that g
he decline YVES checked. The cOurse Of 2
he market in New York to-day has Q
carried out our views IS h~enstofore I
expressed That market advanced during /
he day &c, ruling strong and closing :
Liverpool was quiet and IN {
This market responded 70 the
IN New York, and advanced nom c
Saturdays quotations H@Mo, with an sc
i've Inquiry throughout the DAY from all s
of bRyers. We quote: c