Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-06-15
FINANCE AND TRADE.

OUR REVIEW OF the cotton market
last week quoted middling in New Yorb
al Ice, on Tuesdsy It fell to I5Ic, Oh
Wednesday to l5ic, and on Friday tC
l5sc. New Orleans quoted l5Ic, which
on Thursday declined TO I5c. Liverpool
quoted 1850, but declined next day &c
"a on Wednesday TO Il.l6i, aud oil
Friday 10 7sd. Memphis quoted l5c, on
Tuesday declined to lac, and on Friday
tol4te. This statement shows q decided
downward march in cotton. During the
week New York declined &c, New Or.
leans sc, Liverpool l6d, Memphis ic.
The principal cause OF the decline in
cotton is the excellent news received of
the cotton crop, blessing shared by all
kinds Of vegetation. Such q universal
expression Of satisfaction at the state of
the crops We scarcely remember, and Ia
view Of plenty " cotton at the opening Of
the new season, the value of the stock In
hand il sharply decreasing. A change Of
prospect, should disaster to the growing
cotton occur, would at once run prices
up, nothing else probably will, for full
stocks, snd possibly reducing consump-
ton, aTe adding their influence on the
side OF the decline, SIS is shown by the
following from the New York Bule.T1
O. Wednesday last: ''MaDy holders
tell us that SO Indifferent are the great
majority OF buyers, that it is extremely
DIM ;ult 10 induce them to name q bid.
Exporters obtain nothing whatever Of
an encouraging character, and the ac-
c5unts from the eastward ofpresent and
prospective reduced production shut off
hopes Of much call on home consump-
tive account. The effect of the report
from the bureau upon the Liverpool
market WIS far from stimulating. Ad-
vices from all sections of the south con-
tluus to show most encouraging tenor.
The demand for spots grows worse in
stead OF better, and now advices are re-
ceived that one Of the largest mills at
Lawrence, Massachusetts, has resolved
10 shut down, with hints that others
Will follow. Under this combination of
Influences il was difficult to pre-
vent decline, and there seemed to be |
general feeling Of encouragement" |
In our own market the eastern and for |
elgn buyers have mostly left for cooler |
climes, tut orders have been fairly am |
pie in view of the small stock we have |
left on hand, one-half that we had a |
year ago. Watts & Co. Liverpool Cotton |
Report Of May 2Slh complains Of the |
market dragging monotonously week
after week, at that place. With the
heavy stock they have, holdeTs,are In
trying position. The Report is Of opin-
ION that a decline Of "a would bring or
ders and help the market; there has
he Il declines to the amount OF 5-I6d
since the date Of It. 1t adds the follow
been quietly at work Of late, which
aggravated The difficulties Of holders.
The New York market for futures has
been weak, crop accounts have been
favorable and shipments OF new crop
have been pressed for sale in this mar
ket The Liverpool and New York
are acting and Tescting on each
other, and we dare ssy the weakness to
which We have referred is as much due
TO duh accounts from this side as to any
radical change Of views regarding the
future Of the stsple. Tae bureau is now
looked upon as the authority, and its es-
innate the extent OF the acreage and
the prospects OF the crop from time to
time will DO doubt sway TO large ex-
tent the course of this market. Follow
ing closely on the late political disquiet
On the continent, we have had this
week rumOrs enansting from London OF
serious financial troubles. So far no |
failures Of special importance have &C.
cured, aud although il is hoped the. re-
ports are greatly exaggerated, vet vague
sense OF uneasiBess for some days prevail
ID. The stock in Liverpool this week
shows a reduction of 20. $40 bales, and it
s now taken for granted that the sea-
on's maximum was reached last week.
The visible supply for Europe and Amer
ca is now 253, $40 bales behind last yelr. I
The position Of holders has been greatly
improved By this fsvoTsbIs change in !
he figures Of visible supply during the
Yeeku ;
The following table shows the COM j
,araJive weekly and total receipts at the 4
United States sespOrts up to the dates {