Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-09-01

The month opened with weak and decIin-
ing markets, and as was the case the whole
season, whenever cotton was wanted IL was
always river bottom that was in request; the
drOuth had caused upland, and also Texas
cotton, TO nave poor, short staple. The dis
appointment was great that prices had failed
10 rise, and considerable los was incurred by
spectators who had been holding cotton.
many of them eVeTsince February, and who
had 10 make concessions on the quotations of
the DAY 10 euect sales. The APPEAL OF May
Sd said: I'VE have been among those who IA
VOTed caution, and indeed excited opposition
by with holding encouragement from antici-
p ttionS We could not share. The present as
pect OF the market, while source Of regret to
Us, brings us no surprise. s. II any read
eF FshOuld wonder how, with the decreased crop
oI the present season, too much cotton could
be In the way, we viii bring to their notice
the fact that the American mills having
worked on short time all last winter, there was
as much cotton left at the disposal OF the for
eign buyer as If the crop hai shown no de-
fiCiency," he New York Bulletin at the same
time said: "We can find no explanation,
among the trade. OF the de cline, but too much
cotton" And this, the reader will observe
is said at the very time when, two and three
months DelOre,i the most confident
predictions assured the world that "a sbsTN
and sudden" falling Off in cotton receipts
would rush up prices to not less than 20c a
ound for mltdAng: Wattss Liverpool Re
port also said that the market there was dull,
owing to receipts IN America showing no fall
ing of. The receipts at the ports of the first
week in May, indeed, showed an Increase of
nearly 10000 bales over those of the week be-
fore. In England, large receipts from Bonn
bay, as well as from America, and large stocks
he'd by splnnerS, worked against sellers. The
weather reports at tce opening OF May i'll
complained OF unSe2SOuaEle cold, but cotton
was 30 late that it experienced no injury
The second week in the month found
weeping, and Wailing and gnaShiug
o: teelh," because cotton, that had
been bought at l5Eo and tic, with
money borrowed at Interest, was selling at
lac, iCT weak holders had to sell out for
what they could get. Again Watts q CO..
Liverpool Report attributed declines there to
"too much cotton their stock was ldl 2gO
bales larger on the TWEEN iy-thiTd Of April than
at the same time the year before, and lgJ, 80
bales more than two years before. The Report
added: THE whole question seems TO turn
upon the extent OF the planting in America
this spring. By the middle of May the de.
manu was once more for the superior grades
but buyers were beginning to leave the CITY
and signs of summer dlllness 10 appear, One
day the sales amounted TO only 900 bales, the
Smallest days work since September.
Fnees We're every day more and
more governed by the crop news, and
the crop was in fine condition
Watts & Co s Report OF April 3Oth said the
decline Ia their N 8rKet v as, in a great degree
due 70 the declining tendency of New York
futures. 1t VIII be observed by the reader of
the declining influences generally came from
JAis side the water, and Liverpool only fol-
lowed our lead. As The month advanced, the
accounts OF the growing crops were eminent
ly satisfactory, and such news increased the
anxiety of holders 10 soil. To the surprise of
many experienced cotton men, the last week
In May again found cotton declining. The
crop Inte Iigence was all the most sanguine
Continued ON Third PaRel