Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1874-10-27
FINANCE AND TRADE.

OUR COTTON REVIEW at the close of
lsst week quoted the price OF middling al
New York al l51se; IL fell 10 l5c on Mednes-
day and The day after 70 l47se; 8 decline dur
ing the week OF &c. New orleans a week ago
quoted 1850, ON Monday IL fell TO l53Se; a de-
cline during the week OF G.. Liverpool at the
conclusion Of last weeks review quoted 81,
which on Wednesday became 1sgSd, a de
cline OF Lied during the week. Middliug IN
Memphis a week ago, stood at 1885; on Mon
day 81 fell 10 Il l-l6c, decline Of 5-l6e during
lhe week. This statement shows another
wcekiof declining prices, caused by large re-
ceipts 10y general dizziness in trade, by short
hours worked at the eastern mills and other
unfavorabIe influences, 10 which must be
added for Memphis a-thind advance, within a
short period, OF the rate OF freight
on the eastern lines. Lowering prices
are leading a portion Of the won
drous mass Of wisdom that pours out-in
endless proiusion-"goOd advice TO The south,
20 declare that more grain and other crops
should DE crown, and less cotton; for "the
same money is got for a small crop u large
one" This last a sS-rtlOn Is deceptive, because,
while 10 may be true OF an occasional yesr, as
an exception, IL il not trne as a yale. II would
not hold good II every year, from this time,
all crops OF cotton were kept down 10 a low
limit. Grow small crops at high prices every
year, and India, Egypt, the Brazilsr and else,
where, would increase their yield; they would
then sell IN the market against our cotton un-
an we were let. not only with small crops,
but Win low priS, $ Lne cotton planter
profit cotton brings 10 the producer, than the
mere number OF cents per pound IL quotes in
rlla market. The rule should be- therefore,
~ raise as much corn, hay, hogs and vegeta
ID lf> as will be required on the Plantation, and
as can be paid away In exchange Tor labor
I.na e done, let every possible bale OF cotton
~ :. used the soil can be made 10 plo-
.Inca The result would be the
,,,g',l1r.1Iy OF the worlds MAJ ket by American
r5tiSn crushing out all rivalry, and good
T7oNts from economical prod ucil0n. The tol- |
tr5yg-Ir9- from an article IN the London Gt0te
upon Toe knglrh cotton trade strongiy sup
mrs this view OF the trade: " Last year, ac- |
f.,-I5nr % the returns Of the board Of trade, /
there was "a total import into The united King /
,touu OF ] 81 d1i pounds, an increase OF 49,
d. Il ltn mounds on the previous year. one fact, /
however, is not quite satisfactory. While the /
-Irr,,. \ nom the United States amounted 10 1
~ 5--tl5 pounds over the import thence in /
T,-l we received nom British India only 367, i
81 "a hounds a decrease OF 76,00100o pounds. /
17gere was also a decrease IN me IN pofis from
. Naz.l. New Grenada, Venezuela, Ine Bit. sh |
"A. ~ indies, and British Guinea. The ten |
-, y therefore, is 10 return 10 the oid stale /
g I'll 'LEs, in which England mainly de- /
- On the United states for its cotton |
~---I,- ahls Is to be regretted. Every /
is,,,,,-.' he effect Of the American civil
- m ne English cotton trade, and /
, ta- -i,5ss,S-a--d misery caused throughout |
I-45,e4sbire Tn Q conditions are not likely 70
TafsIfp. cut the IA ule OF a cfopfuI temporary
-,,,Iifiesi disfurbauce, might occasion serious
,-Ir,T,,tuience. ms wei known that India
i capable Of much more exl> ul'lS ltlJl
rlau has yet been ATTEMPTED " ~ ~ sIo ,,,l,
--.-- "A determined effort be made % dtaW up3n
~ resources there open 70 US k1sit. ~ .
-a-u the fear OF Europe Is NOT mat tlle nLlSI
~tgtes viii have too much cotton, o l LA ~
NAV not have enough instead o. stloI oiCR II
HeIpgug Us, they constitute our Jan ger. a.
EEilf1uean authorities agree thai olneI cottOu
sands no chance beside AmeT1cani our tIue
therefore be 10 supply All Wa
MIN Ia sOrhat we may annthllate all COM
petition. TIE New YORK BHaeItnl Cctoeer
90 has the following: "for linlhe1Llite ne
n ,-..F- there has sgain been fair movement
r-poTted all things considered, ana OF Jhe
amount credited 20 exporters u Is lhougnt
some parcels at least Will prOoabiy 20 mo
store 10 Offset sales made on future contracts.
simmer. almost without exception manifest
"a gFglleuIy Indifferent tone, and win iiie Tel
Grams from Liverpool at hand to-day, claim
au entire absence Of margin, Whlie lot con-
.-umptIon the demand amounts 70 almost
nothing. Current quotations are sun, 70 some
extent, nominal and undoubtedly ABOVE M hat
would be- accepted could buyers De IOund VIM
we're willing 10 handle large lines, ho!deEs
offering with freedom IN many cases anu tle
s1UcE gradually increasing. IN snort the
rusr lz,.f has hat and unsatisfactory appear
suct. ana closes without features OF an en-
cDurstriug nature. At some OF tie pOrts the
receipts fOr the day show slight talllng on
but the aggregate IS full stocks 40 not laIl
away. crop accounts are favorable, and al tne
southern markets still more OF less iaNcI lhe
buyer. For future delivery there mas oeen
lair movement, and mol very STEADY Tone
operators for a rise sui tall5mg 70 gain any
riaIlv stimulating point" There was no
further serious break, however and al me
.,51se ne feeling seemed TO steady a trife, with
October lust a shade better than November.
THIS was owing 10 a superstition thal thls
month had beeu pretty well taken care Oh
and was virtually out Of the way, but that for
next month the notices OF delivery would
prove pretty large. In some OF the later
months operators for short turns were taxing
advantage Of the margins presented ana
covering TO a fair extent On october
~ stsfevnenf Of Inc condition OF the
movement IN spot cotton, with credits 70 DOtn
Manufacturers and exporters, hut the market
shows an absence OF seneIsI lLle ol Doie' ali
81 quoted figures all outlets are freely met
q .,ldcrs, 10 bee sure. are not forcing mAtters'
and give way IN their views ralhef slowly a.
q rule. But enough can be Iound VINO want 70
81 ~ Of heir supplies % satisfy all calls
and leave a large surplus seeking a market
The weakness disclosed al an the southern
T,slrIyats-the crop accounts improving, II
auythiu., and these, backed up by iull re-
s.aiu14 All weigh upon the posi- ION anu make
DO necessary 10 name low lgufts Nnen actual
sales are c1nsumnlgieu. II uoes mol appear
% Roe too much cotton altogether, however !
fiuf an absence Of use Tor IL ana uolnesuc
Spiuuers working on short ume-and very /
,...Uff1ullv nj tbaf-fn the absence OF a clesr |
marlin on goods; while ali accounts rom /
Liverpool appear utterly void OF anything OF |
encouraging name and shut on the Ieliel i
..-fIrb pyporterS should now be auOfdiug. 1
Letters nom the south are dairy 81 naho 'tsh- 1
ing for orders, but meet Win no les l,oustf an
az fTe time being, 81 least, the position has "a /
g.rg sbIue' look. For future delivery the
rr4I-Eei opened with show OF nrnlnees, put
ans s-as not long maintained, the evident de-
,.,T7a nliug 10 sell, and as the day advanced |
needed weakness was developed and TINS
continued mp % the Close business leaNlhg on
yrIfbout any future reactionary indications
rTiff offerings were most liberal on december
and Toward, especia ally after two O'Clock
and at the inside figures free sales were made.
the follow ing table shows the mparative |
,r.-.g n and total receipts at the United states
--spufts up 10 the dates annexed:
Week is5i-.55 1851 ls72-76I IS7l-'72 lo7o-7l