Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1874-10-20
FINANCE AND TRADE.

OUR COTTON REVIEW at the close OF
last week quoted the prices OF mlddiing al
New Ork ~ l1ifc on Mcnday IL advanced Ia
D g, and on tuesday fell 10 10 C, and on Fri
New Orleans q week ago quoted lsssc, winch
leli 10 a. e tour days OF the week. q decline OF
e on ID week. Liverpool at the conc fusion
oi la>- WeeA s review quoted 81, and has 50
remained during the er tire week. We see by
Tuls statement that the course OF prices since
our last review has been d0wnWarus. The
state of bus ness generally during the last
three weeks hss been towards lower level.
In CDuSta ueBce Of serious failures In New
I Drk and elsewhere-seyeral OF them being 10
.he dry goods bu>iness-something OF the Old
ui>irust OF the panic OF a year age has re-
turned credit j. Testricted, the banks every-
where are shutting Gown" on borrowers and
strengthen themselves Enferprise Is tiernped
~ She spirit OF Caution and self-preservatfon.
'otl-l mss 10 endure It's share Of the heavi-
Ness OF the markets. J he more prominent
cause, however, OF the downward tendency,
l> ne large amount OF the receipts. At the
ports last seek the recei pts were III, l75 bales
-=alLsL y ~ received the corresponding
ten Ger LIST, were 81 IS bales BgRiBst II 90 a
y ear before. The ngures restiiy explain the
declining state Of the market, especially in
view o. the fact that the United States spin
ugrN are working only one-third time. In
FlgW OF tue statements confidently made and
'Ilcla.ly published that the foods OF the
spring and tie drought Of the summer
"a .ula materially sbTidge the crop OF ISIS.
ms lncrease, 81 hrst glance, appears unae-
cnunlafIe. IL Is asserted, however, trat the
olOL-n forced the crop OF the present season
10 preTnaturity in proof Of this fact, m any
slsnlers declare that the seed Is this year
'nucn llslier lultn Is usual Its growth being
arr stvd early. This being the case, there is.
naturally, a large amount OF cotton reac hing
the IA rkgt ~ the very opening Of the season.
For the very reason that so much is H0U ccm-
EuE IN, the receipts In a while viii necessarily
ia'- OF an ia proportion as they DO, 50
tneI ei ms Lhai ihey are now buying gu
tNfe' !n NeW York, relying upon prOhHng
large y by the advance which they foresee ia
lhy cpllpn market IN ms connecttOn We re-
publish an extract from the New YORK BuE-
Ir.la OF october 18Th, which has already ap-
J. .HEeE In our columns: "a good many or
ile orders rlled have been on southern ac-
count Win large proportion OF the buyers
from me tennessee snu Kentucky districts
'es.ai+y that portion affected by the
al'Al4, Operators Ideas appear TO have
nteN based upon the belief that the
9-iuase cone In their section extends over
me entire cU-tou bait and that the shOrt-crop
aurnpritles still adhere, viii in the end prove
To be correct the present fail rtcei us being
en- evidences % carrier Tipening OF DOLLS which
nave incSilN escaped injury We republish
-HI- i1r TIE purpose OF placing beside Il the
following statement OF views That were held
..-'l lrlsri ~ published N eur annual report Of
i4t CO. ton market: Holders asserted that
the picking season having been unusually
good the amount Of the whole crop gathered
N a, ia advance OF average years, leavingthat
much less 20 come into market later on that
open weather ana rivers IN good condition for
AAlA caused the n 10 the
Il-LliI- az an unususlly early period, leaving
comp ratl Ney little on the Plantations. also
Llat tIeI sharp necessliies Of the negroes and
small planters, partly growing out OF tie late
panic, had compelled them 10 send thelr cot
ton on 10 market e The earliest posi- bic day.
AfIuueni ina. heir View Of the case was cor
Icct sud that before long sharp decline In
receipts would So demonstrate IL, holders were
very tenacious OF prices, and many held their
cotton OUT OF the market, calculating upon
ulau0n was most disappointing one. Cotton
was bought, held, then sold at The latter end
or me season g. less. The probabilities are
that u some southern people are buying fu-
t1res, sun more are holding cotton out Of
lie MAJ llet relying on tue sane theory. That
iue0ry may prove 70 be a correct one, but We
recall the corresponding IDEAS OF last year
@ motive for caution and an incentive 10 in
N-astl cation and n nectlOn. The fact mem
TONED by The Buneffn tnat the specui stors are
found especially ia tlat portion OF the cotton
belt tl1f has 81 e ID most b. he drought is es-
pec ally suggestive, aud deserves attention.
TT D. also worthy OF Inquiry whether, II cotton
Dr. 70 De bad Ia 20 session eady for " the good
time coming II should b. held on the Plan
i.ti.9n OF iu store, OF whether the entire crop
should Dc sold ana a portion Of the proceeds
the number Of ba - sold, thus leaving some
money M hsnd and saving stOrage-Or, what
p more ihAn the expense OF storage, dapsage
from Having the cotton exposed Insurance
aud OF her expenses and risks. The New YORK
S1r01l-ie. some mQnths ago, while utterly
overHe o. the -peculative spirit abroad when
no wac writing, advised, % the people U0Uld
speculate, rather 70 hold their cotton Ia the
shape Of " lectures than Of bales, as involving !
le-s loss, Ia case OF disaster. than was tncureI
%. lualy retaining the cotton on hand. |
without undertaking 70 give any advice our |
selves, We pc sent the subject for cODsidera-
u0u- We aiaO point out % owners Of cotton |
i.l.lE The subj cci Of damage TO cotton n m in
Hfneicut storage, or no storage az all, has at
laeteu attention Ia Liverpool. The Liverpool |
sust, september -, said q For ears i'm port |
efs % cotton have suffered, often very severe |
lya through cotton arriving az Liverpool de-
'i country damaged " This country damage
arises ir1m exposure 10 Indictment YEA her II
course Di shipment, OF from Inadequate pro &c
tHl being Afforded by .uip-OWners before and
during loading tmesting was he on the
fl 1iecL, and steps taken, in connection with |
agents on this side The water, which viii re-
.llf in lower prices being raid for cotton not
aa-uIu 90 toll tur months 20 raise q product ~
Do ~ vi ~ almost invaluable, theL, abandon IL
90 the wlnlry storm above and the rOttiug
damp below a. d Il was not worth "hOuse-
roam. tareless planters must altogether Ie-
fnrm their practice In this respect or suffer
The iu-s heir carelessness viii justly entail.
Iu make r. pruni on cotton nowadays, Il
must be Iic Ked clean, ell EiBned, and sent 70
ulsriLet a. carefully IN IL way, as a jeweiler
Nsud- a watch 10 q customer. A hfty-doliar
bale OF cotton Is worth a much a. a Nifty
dollar watch, obvious as this a., 70 Is evil
emf that those who send their cotton 70 mar
ke- WITH every marx OF rloyeullue1s in pick
lug, ginning, bagsing and storing, have not
perceived it.
The lU!loglBg table SHOWS the comparative
weekly aud Total receipts At the I nlted siates
-=aIort- up 10 the dates annexed:
Week l,7i-75 1871 ls71-73 ls7l-'72 ls7O-7l