Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1874-11-29

ceipts OF hogs continue large, but thl
opinion is general that, while they viii
| continue considerable, they cannot ht
maintained at the rate Of last week. De.
pcslts have decreased largely, IN couse-
| quence Of the recent activity, and dis
count lines-particulsriy those Of TIE
mercantile banks-are comfortably fail,
| The wholesale trade Of the city is re.
| ported by the jObbers 10 be excellent
| Collections they hnd remarkably
good, as would naturally be the
case with 50 great an abundance of
! money IS now exists in the west The
! New York Herald thus accounts for the
rise in gold: zone OF the reasons to-day
assigned for the strength OF gold was
the unusual decrease in the exports OF
produce, which will be observed else
where. With American securities re-
EtUrning, shipments Of coin being made
and reduction ia the value Of exports,
il is not surprising that gold SHOULD
maintain the strength it has Of late ex-
hibited." The New York Republic has
the following: "The advanced premium
on gold has strengthened the value Of
merchandise in many cases, and in
duced 8 few speculative movements, but
buyers are, as a rule, cautious, and the
investments are not much beyond wants
and positive orders. The exports Tor the
week show a bad decrease from last
season. The currency remittances rom
New York by express continue heaVy,
in payment for packed provisions, grain
and cotton Of the west and south" Inc
New York Bulletin remarks: "lhe local
money market begins 10 sympatalze
with the more active condition Of the
western markets. The marketing OF
the hog crop is progressing with much
activity; and as the receipts Of hogs are
numerically about equal TO those OF last
year and in value very much greater,
this movement has turned the west
ern exchanges against this city. The
banks OF Chicago snd Cincinnati are
now IN 3 position to order currency
from New York; and at st. Louis also
the condition Of the exchanges would
admit OF 9 ike operation. 1t is mainly
owing to this turn IN the western eN-
changes that the clearinghouse banks
lost last week over two million dollars
OF legal-tenders; and from the cOntin-
ued activity Of the country demand fOr
currency st Chicago and Cincinnati, II
is not unlikely that further important
may be made this week.
This outflow Of currency is the more i'm
portant in lis bearings upon our banks
from the fact that, IS the city banks
have mainly sent their national bank
notes to Washington for redemption,
these remittanees have to be made al
most entirely in legsl-tenders- 1t would
not be surprising IL the reserves OF the |
banks were to be reduced by these causes |
to q much lower point for the rest OF the !
year than has been anticipated
THE COTTON MARKET yesterday had |
ike other departments Of business, to 1
submit to the influence Of the weather, |
which was unfav5rsble in the extreme. |
The kilograms chimed in with the rain /
md gloom, being depressing all through. |
In New York the market wss dull and /
heavy at l4,c; futures were dull all day. /
New Orleans was irregular at 141c. Liv-
arpOol was irregular and nominal at
-EGT3d, with sales Of 10000 bales. In /
)uF market business was scarcely posi-
Die from heavy rain without and dark
ness within. Tuere was q universally |
Hull feeling, but figures were nOminslly |
sustained, although weaker, actual |
sales not coming up TO official /
luotatious. The sales were at the j
0lloWing prices: Stained, l5c; low
ordinary to ordinary at I0Gl2c; !
good ordinary at 13ic; low middling, |
.3lGl35c; middling, l346l4e. We are
glad to find that the subject OF country |
iamagedr cotton, which has Of late re-
,eived special attention in Liverpool, /
las come under close observation IN |
Memphis. The APPEAL has al
-esdy expressed its opinion Of
he folly Whitewater months |
IF care, labor, and thought expended IN /
.aisiug a crop Of cotton, leaves it out to
-Ot from rains above and moisture be-
leRtb, from the time il is in the bale to
he time IL goes TO market. The matter
las been taken up by our cotton ex-
.haDge, which mas appointed Messrs. A.
+. a. Landsuer, W, 4. GOOdwyn, and
,. II. Hayden 3 committee 10 inyesti-
rate the subject. Mr.. LRndauer, who is
me Of our keenest and most spirited
,uyers, is chairman Of the committee.
The remainder Of the committee are
actors, receivers, shed owners, ami
agents. They viii closely |
investigate the matter committed % L
heir care, aud are expected, by the END
next week, TO make q report that viii
ring this important subject fully before
be cotton exchange at large. Gne fol-
owing are the official quotations Of the
OttOn exchange: