Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-08-10
FINANCE AND TRADE.

OUR REVIEW Of the cotton market
last week quoted middling cotton in
New FORK st lise; on Monday it ad-
vsnced to I4sa but fell on Wednesday
10 lIlc. New Orleans closed the week
at lie, and 20 remains. Liverpool
quoted l-l6d, which advanced next
day 70 rs, and on Tuesday to It'd.
Memphis quoted 14tc, and on Tuesday
advanced TO l4te. This statement shows
an advance in New York OF 5c, New
Orleans unchanged, Liverpool advanced
3-l6i, Memphis advanced t.. Here we
see some revival from the depression OF
the previous week, that in Liverpool be-
ing especially welcome and calculated
10 give more confidence 10 holders,
Still Liverpool is below 9 parity with
the American markets, aud exporters
can dDlittle or nothing. The New York
Bulletin says: Exporters aIe entitled
70 the respect Of notice, If 1t is only to
say that they continue at a complete
stsuCstill, wtgH heir bands tied by the
wide margin 90 -IIst them as compared
with rates in Liverpool, and occasional
intimsJiOIs that the foreign markets
are little weak beneath the surface"
The Improvement in Liverpool is
Offset by a strike st home, of which the
same paper reports: 1.-The Fall River
strike, though treated somewhat lightly
by many, undoubtedly has more or less
influence, aud acts as q psTtial neutral
ling influence against buoyant tenden-
cies." Gold has advanced during the
week from 1923 10 Il34; this has helped
the upward course OF prices. The most
active agent, however, has been the as
pect Of the hl=sis slpPl river, which is
now higher than At any period of the
present ires8et-the uncertainty as 10
what destruction there might Ice made
10y floods has powerfully helped the up,
ward turn OF prices. As We write. the
worst anticipatIOEs sre subsiding, tut an
examination OF the Geographic reports
II this mornings paper viii give the
reader q better knowledge Of the actual
state Of things than We are acquainted
with as We write. The New Yorg Bltlle.
tin, al the close OF its last weekly re-
view, remarked: The market has been
in that peculiar state where 70 one had
settled policy TO work from, resulting
IN holding CffflT further aeve.oDments,
where such course was rassibie, and q
sort OF taking Chances blindly where ne
cesslty compelled continuation of op-
eI1lJus.' Ine slime article also said:
" There nas been IIOihing veIy encour-
aglng on the goods market, and il is
generally believed that most Of
the leEflng mills will make = stop
page du1ng the present month"
ms ueWs1 ia connection with the
vast numOS1 Of mills that have ceased
slriaCsi IS not encouraging. Ii is agree
spie to oUtice, however, that Waits &
COS Liverpool Cotton EeDort, Of july
- T. tsEes more encouraging view of
lhiGgs, the amount OF its remarks is
ILs- the panic there is subsiding, anG
''we cannot but think that cotton occu-
pies very strong position" Cotton is
lower than for fourteen years; the export
demand az improving, the export sales
Tor the "seE being larger than in any
one week sinc9 September last; stocks
OF cotton On the continent are low. The
low prices may diminish the acreage
that VIII be planted in India the coming
season. 1t il almost csrtsin that Eng
hsh spinner hold within q. 600 bales Of
the lowest stock they have had for eight
years. TIE mill strikers may prove a
positive good by stimulating business at
Manchester. The stock of cotton in
Liverpool is large, but weshould not lose
sight Of the fsCt that so far as can be de-
termiosd, while the visible supply Of
cotton-incIudiag Brazil afloat-is now
only $4,000 bales less thap LAST year, the
actual upp'y-inclUding deficit in the
hands Of EUrUpesu and American spin
ners-is some go 900 10 400, 900 bales lees
than twelve months ago; in other words,
that the consumption has TO that extent
gone ahead Of production. The stock of
cotton held by English spinners we now
estimate at 60 600 bales, against I45, 900
last year and l6l coo the year before at
same date.
The following table shows the COM
paratiye weekly and total receipts at the
United States ssapOrts up to the dates
annexed;