Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-12-07
FINANCE AND TRADE.

.
FINANCIAL MATTERS dr,drg IN
week have been very ,,,i,ga,estiro
showing no special c'..sgyss a. &c
pared with sever. .eeks to,,-o !,
--OLey = iesS >@sy, consequently Dor
IO"e's sie IL . 80 readily accommodated
We '"' = are it is ct ten per cent. pel
HlinU u; "a the street 262l per eenr. Del
IL ~6Ss is the general rate. Exchange
Continues TO Offer il great plenty, and
rates are firm st J discount on New
York and I discount on New OrIeaDs.
selling 81 par on both. Gold in
New York yesterday morning
opened At ll4t aud advanced 10
ll4t, then fell 70 ll4.; here brokers
were offering ll3GlI3I. The financial
article Of q recent copy Of the nrst news
paper OF a southern city assured its read
ers There II nothing new in aeripll,re
quotatlons;" We can assure ours that
there IS nothing new IN scrip quota
uonF. Memphis police ard fire scrin
are Ia rather better inquiry; Memphis
tax scrip Is firm, with some irregular.
ity In the demand. Shelby county war
rants are firm at former figures: STATE
warrants are in good Inquiry and IN
changed.
,,..,-,,,-..,,.. Buyfng. sizing
Memphis tax scrip. ......-....-.... 57aeq 72a7g
Soonty WaTfants..---.-.... 7saSD
SSett NaFEan ts-.--..---... ....-.--..-...95d va
New Issue Tennessee.....--..........a5G - 8
OUR REVIEW Of the cotton n.
LAST week reported middling &C. ,NSAe.
New York ST l3tc, on Wedneg| se3n IN
clinedtOl3 l-l6ei New Orlee ]-y = ue-
129e, and has SO remAlr - vas tneu
tember 18Th. Liverpool ~ slnce sep,
has 20 remained sine ieooeu O5u ana
Memphis quoted - Septemter iUtn.
unchanged. We EC4nn mas remained
inc the Web cen but one decline dur
ION tbaTefor %, l-l6c IN New York; cot
ifs condif' e remained ve-y steady, and
circuIe- [on is described SIS follows 10 a
HIM. just Issued by Messrs. Moseby.
cnI . & 20 IA predicted ia our cir
} ar Of lest month, cotton has ruled
-oSy and prices have continued TO de-
cline. In view q existing facts, how. |
ever, 1t could scarcely have baen other |
wise. Freiphts have been so high, that |
both exporters and buyers Tor eastern |
account have been forced to reduce |
their limits. Foreign exchange has |
"NS'' hNDA4 tNAI1 A4AlE = IlNg Will BuL (
little variation, has oaciliated between |
IA and l5r, with all the chances in IA. !
vor GTstil further decline. Considering |
These fscts, together with the low price
OF dry goods and fistteting reports from
the crop, ii is not 10 be wondered at that
buyers declined 10 operate except at
very low figures. The demand has un-
questiOnsbly been good, bat at prices
that, except for the very best grsdes. |
were ruinOus t0She planter. No decline
can last always however, and we think
that prices have about touched bottom, !
or so nearly 50, thst il would be uD wise
to bsse any operation upon
still further decline. Indeed, the
whole aspect If affairs so far a.
the crop is concerned, have mate
ristly changed dUrTg the PAST three
weeks. The weather for this season of
the year hiss been unprecedeafly bad, |
and picking operations, which earlier in |
the fall were retarded by general sick
ness throughout the country, have been !
still further restricted by the constant
rains. Thus whole fields. some of them
hsve been exposed TO The
damaging Influence of the elemeYts
and thousands of pounds Of cot .on lava |
been beaten from the plant II The
ground and destroyed. Even thu 4 saved
will be much injured in chara stgT. and |
we fear that receipts from this time on
VIII show an excessive Proportion OF
low COTTON we are no advocates for
very hlgh prices, beca'd5e We DO not
think they Will tIanspi, q. nor for small
crop, because We sIau have. as co;n-
pared with lsst yer, g large one. Int
when we reflect mat midd!ing cotton l. !
selling IN New York to-day for HE per
pound, gol6, Snd in Liverpool for SD, I
ahu Ibst Tor the three years preceding /
the W ar-1S57, 1855 aud IS5e-it aver
2Sed about II DC ia New York and 6Edi 10
Liverpool, we think il fair to presume
with the unlocked for curtailmeut in | !
CROP that when there is a change we !
shall have moderate advance. TO cur
friends we say sell on every active mar
ket; because the expense of carrying ! 7
will probably cancel any advance that !
may occur; but do not force your cotton
off on dull days in anticipation of still
further decline. And now, a word to
our merchant friends whe buy: beware :
Of dusty cotton-stsin and leaf do not !
make 80 much differeDce-but we have =
now on hand large stock of dusty cot I
ton, which is daily increasing, and
which is utterly neglected except at ex- =
treme low prices. Bright and medium
grades may advance-lhey probably
low dusty cotton must surely :
go lower
Receipts IN Memphis during the week
ending Friday aggregated %, 465 bales, 3
against q ,4S5 bales the previous week, Z
and -, $40 bales the corresponding week :,
last season. The totsl receipts since | :
September l, 1875, are $50, S76 bsles,
against las, 1852 at the corresponding time | g
asst season, showing an increase Of 80, SPA
bales.
Shipments during the week ending Il
Friday aggregated Il 525 bales, against Il
Is, Sl4 bales the previous week, and y 1874 tC
he corresponding week lsst season. "
Total shipments since September Is ct
are 140,706 bales, against l02 pa bales ;,
he same time lsst year, al increase Q, ii
IS, Ash bales. Il
The stock on hand was -, 657 hslss !
against SO, III bales last week and 81 e89 | f
It this time last year. n
Sales during the w,ok vera Il goo :,
Dales, against l4lc,J bales the previons e
week. ana l2,OV the corresponding week
AsI year: Il the 1890 bales sold this "
HeeA, ,anners took 500, exporters $500, g.
pee Iiators 2200; against 1900 bales to g
dinners, 300 to Spectators, and 400 TO il
exporters the same time last yesr. {
The following shows the course Of the L
k1aan ! aa vfFs.H . 4 y