Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-07-27
FINANCE AND TRADE,

OUR REVIEW Of the cotton marke
last week quoted middling in New Yorh
at I5c; on the succeeding Monday it ad
vanced to l55c, on Tuesday fell back Il
I5s,and on Wednesday declined to 145c
where il remains. New Orleans quoted
Isle, as it had done the whole week be.
fore that, but fell on the next day to l5c,
on Wednesday to 1i3c, and on Friday tC
l4Ic, with prospect Of going lower still.
Liverpool quoted I'd, out on Tuesday
fell TO 8 l5-l6t, and now looks stronger.
Memphis quoted 144c, fell on WedDes.
day 10 l4id, advanced on Thursday 10
l4gc, and on Friday to 144c. This state
ment shows that during the week New
York declined &c, New Orleans &c, Liv-
erpool l-l6d, while Memphis remains
unchanged. The principal matter OF
interest, as the week closes, is the state
Of the Mississippi river, which is
bank full aud swelling daily, while
heavy rains are continually falling
somewhere in the great valley so as to
affect the volume of the stream. The
rain in itself is doing damage in many
places, the rising waters in Others-what
will be the result? The situation is here
regarded as so serious that the recupera-
ton in prices OF Memphis cOttOns, noted
above, appears due principally to that
cause. There is anxiety and alarm all
around US, and before another week rolls
round the effects of that feeling will
probably become very obvious IN the
market. A reference to our river de-
uartment and tele grams will tell the
reader more on this subject than we can
know az We write. The Liverpool mar
Yet closes more hopefully, with signs Of
recovering something OF the rates that
have been lost, but during the week 1t
has been very heavy. The following
from the New York Bulletin shows what
cotton has had TO contend with during
the past week: 1.-THE Liverpool market
is az a still wider difference against
exporters, and none OF the princi-
pal buyers for the Liverpool market
were looking for cotton. Prices were
soAin &c per pound lower, according 10
the fIicial quotations, but most Of the
sales snow a more marked reduction.
Futures opened with a downward ten
dency, and the earliest sales showed a
falling off Of Lice, and further loss Of
Lice was sustained, and the market was
very heavy until prominent short SELL
er commenced to cover August and
September contracts, when the down.
ward tendency was arrested. 1t is vs.
riously estimated that the purchases Of
this d arty amounted to from 10000 bales
10 1900 bales. The same operator sold
most OF the spot cotton disposed OF to-
siav, In the afternoon, the market re-
acted again, and closed 3-32c lower than
Saturdays rinal prices. Advices from
abroad were again of q disquieting tenor,
and constituted the principal cause OF
depression. The fact that the market
failed 10 respond more fully to the large
purchases to cover, was used by the bears
TO show that the market was with
out inherent strength. AT the
extreme close the market was
weak.n Another influence has
been the strong decline in gold, so that the
rate which was lI7s on the first week OF
the month, had sunk TO lll4, Of course
cotton could not but feel the influence Of
the change. Our stock in Memphis is
very low, and as it is mostly in the hands
ofspeculatUrs, planters are little interest
ed except IN ~ far as the course OF
events foresh8d)ws the future Of prices.
The following table shows the COM
parative weekly and total receipts st the
United States ssaports up to the dates
annexed.