Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1875-09-01
A Business Review and Municipal
Directory.
A Bright outlook for the
Opening Season.
The Memphis Cotton Market.

The Memphis Cotton Market.
From the very able and elaborate re-
port or statement of the Cotton Elk.
change TOR the year ending January
1875. prepared by the Secretary, John s.
Toof, a most valuable and exhaustive
series of facts on the Cotton Exchange
may be eulled for the benefit Of the
readers of the LEDGER, as the statement
Of the Cotton Exchange reaches but q
limited number Of readers. 1t says as
follows, and the remarks apply mos
forcibly to the present time:
PREDATORY to rendering tabular stats
tics in relation to the cotton crop of thil
district, We deem it not Inconsistent thai
we should cursorily advert TO a partiaI
history of Memphis as a Cotton Market
in order that we may show her present
and shadow her future claims and pros
poets as one of the great cotton centert
Of the South. In doing this, we shall
only ante-date the late civil war to the
seasons OF l659-60. It will be remem.
bered, that at that date, Memphis was in
the zenith of her prosperity, being rela.
lively the fastest growing city in AEer'
lea; claiming to be the metropolis of q
territory Of about one hundred and
twenty-five miles radius, consisting OIL
eighteen counties in Tennessee, twenty
in Mississippi, and twenty in Arkansas,
constituting an ares of about two hun
bred and fifty miles in diameter. Re,
ferring TO the census statistics of 1860,
aside from value placed upon slaves, few
portions of this Continent, of equal rn-
raj extent, could compare with this dis
trict in that wealth which is so conducive
10 general prosperity.
This census reported it as producing
&c. 900 bales Of cotton out Of a crop Of
1876, no bales, being about nineteen per
cent. of the largest cotton crop ever
raised in the United States, of which we
have any record. 1t is true that, while
claiming to be the metropolis Of the re.
gion Of country thus described, by every
law of commercial economy, of this crop
Memphis received but 1898, 79l bales
less than one.half Of the production oil
her district. Up TO this date she was
comparatively unknown to the Euro,
pean world as a cotton market. Mem.
phis was just commencing to realize the
benefits Of direct trade, not only with
American, but European spinners, tc
the extent that, of the crop Of l8G0'6l
200, 900 bales of $40, 900 received at thi.
point were shipped direct to Northern
spinners and to Europe. From this sea.
son to that Of 1886 we are without
data. We pass by FIVE years of heI
struggles and come to the season o
1901, and we find that of the cottor
crop that season, 4,352,3l7 bales, this dis
trict raised about $4,000 bales, anC
Memphis received net oil ,432, being
1854 bales, or about thirty per cent
in excess of her most prosperous yea
before the war. The manufacturing
world generally has recognized Memphi
as n Of the most important cottol
markets Of America, not only for the ex
tent Of her productions, but also as fur
nishing tie most desirable staple. ShI
now numbers, in addition to numerou
agents Of home spinners, permanen
representatives Of the %spinners Of Eng
land, Germany, France, Russia, Spain
Switzerland, etc. We deem it but prope
to state that, but for the untoward circun
stances Of having suffered so severel.
from the two great scourges Of choler
and yellow fever, last year, in conneC
ton with the financial panic, our cit
would have continued to make the sam
progressive advance. From $4,000 I
100000 bales Of cotton that would hav
sought this market we're driven from u
by these adverse influences. Our cit
is yearly realizing an extende
commerce in cotton and gensr,
merchandise. Portions Of Easter
Texas, Middle Tennessee, Mort
Mississippi and Southeast Missouri
unknown to our commerce before tt
war, are stretching their arms toward |
with preferred prosperity. Surrounde
as We are with an empire Of the richie
lands in the world, yet in primeval stat
who q doubt, when the South shall
permittedsto enjoy a political place, th'
her people may recuperate their lo
fortunes, a sound labor system may /
established and Memphis may becon
the leading cotton mart Of the civilize
world, the great cotton producing cente
Without further remarks, attention
invited to the appended tabular and d
tailed statements Of the course Of Il
Memphis market, with the movement
the staple here and elsewhere througI
out the cotton world for the commerce
year l874-75.
The First Bales.
The FIRST bale Of the crop Of ls74-5 r
eeived in Memphis arrived August lit
classed strict middling, was fro
Senatobia, Mississippi; was received
MeSsrs. Stanton q Moore; sold to J.
johnson & Co., at 26c per pound.
The FIRST bale from Arkansas was fro
Crittenden county. grown by ThomI
Gibbs, and received here by Messrs. 81
Harvey a Richardson, classed middlinI
sold 70 Mr.. Gates at lsc per pound.
The 6rat Tennessee bale was receive