Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1876-02-29
FINANCE AND TRADE.

I Our REVIEW Of the cotton market
4 last week rep, ried middling cotton In
New Yook at l2sc; il declined next day
. y I3-l6c. on Monday TO l2l'. New
Orleans was quo e5 l2lc, Id hSs 30 re-
manned for two aod ba'f weeks. Liv.
- eTp1cI quoted 6 I6I, which on
= "Wednesday fell 6i 4 and on Thursday
70 8 l6d. Memphis quoted l2c, and
- has remained that figure ali week.
This statement shows a decline during
tbs week Of / : 10 New York and 4 10
LiverIo1l. These changes, however,
: give little idss OF the real state Of the
:, market, wLica during the greater part
= OF the week was weak, heavy, dull o:
u irregular. With declines ~ come instances
II on the lJSer or -des, while the quota
ton figure 81 middling has remained
the same. The continued foil receipts,
and the freedom with which cotton
q pOUrs into Liverpool, has no e. all pre-
, vious ide, 3 snd calcuistioDs and lef, the
{ speculative portion OF the buyers { I ses
r with, vt "A rudder and unsble TO guess
: where the wind will blow from next. IT
: iE useless repeating what has been said
4 the lsst three OF four weeks, for the stu
alton Is unchanged, "too much colt III"
bsiHg still the ruling influence in the
market Middliug cotton and above
bold their prices, with some firmness;
c medium grades are ia fair demand, and
[ all below IL has teen wesF, dirty cottons
7 selling down to Sc Ellison & Co.'s LIZ.
oTp0Cl AnRu1l ReUAtO. r. .ntly publish.
Ell, sftersp eskiugof Influences that we're
so disastrous 10 bushes in England last
: year, the effects Cf which the cotton
market felt hesvily, remarks those in
huencss are still producing results adj
we're to the prosperity OF that trade, aud
! Continues: Some day great change
I viii come, hut when, II Is Inn
possible TO ssy. 80 Ear as cot
ton Is concerned, all that we
have to say for the present il, that prices
are below the average cost # production;
that coTsequE ntly, sooner or later, a
sharp reaction must come; and, there
fore, that spinTeIs and manufactures
viii act wisely ia not IiskiUg much ia
the form Of uncovered contacts for the
forward delivery Of yarns and goods.
LssE year the average price Of middling
Uplands YVES 40, but so low q figure
would not have been witnessed II it had
not teen for the disCrsdit and disorgani-
cation which followed the Collie and
other faiu:es; and uuIets some unfore.
seen political or financial occurrence
takes place, we shall be surpri ed il the
average price for 1879 is not much high
eT than the figure now current" Watts
& Co.'s excellent Liverpool Cotton Re-
port ssys the demoraliz .tion In the mar
ket was as great as they
had ever known it to be,
aud indorses the following, copied
from Liverpool PAGER as literally true:
elf We had been on the eve Of a general
European war, o. i'm the midst of an un-
precedented monetary panic, things
could not have put on a worse appear
ance. That a whole community OF
sbr5Ud business men should have al
lowed themselves to lie the victims OF
sn absolute scsre is marvellous" Watts
& Co. add: "When the market gets into
such 3 card ton as il has been this
week, there il but little use in reasoning
about the immediate future" We find
in recent Little Rick Gaze te that at
all the stations along the st. l. uis Iron
MOuntsin and S utbern railway from
Janualy 1st to september l, 1875, the
shipments were 80 600 bsles. From SEP
TENDER /, 1875. TO February l, 1876,
stations was in September, 2573; OctO-
Der, q, 500; Move nber, As 100; Deem
Der, 55 sSl, January, S2,047. Total for
the five months, l62, 440 bales.
Receipts in Memphis Turing the official
week aggregated IA 40 bales, against
l4,043 bales the prsvi, Us week, and 66l6
bAles the corr S Onding week last sea-
son. The total receipts since Septem
Der j, 1876 are 396, S76 against 6l3 l49
bales at the corr. spending time last sea-
son, showing an increase of lis, ~ bales.
Shipments during the official week
aggrega ed l0,S26 bales, against
Is ia bslfs the previous week, and
IL 500 the corresponding week last sea-
son. Total shipments since September
lst are 1916, 935 bales, against 22S 222 bales |
the same time last year; an INCREASE CT
l02 ia bales.
The stock on hand was 6S 5I3 bales,
against 65 $50 bales lastSweek, and S.
75S bales at this time las year.
Sales during the week were $500 |
bales, against $500 bales the previous
week, and Is coo bslel the correspond
ing week last year. OF the $500 bales |
sold this week, spiBners took 1850. ex- |
pOr'ers $3.50, speculstors 100; against
1900 bales Il spinn,rs, 400 10 specula-
tors, and S400 to exporters the same time
last yesr.
The following shows the course of the
Memphis market and the price Of mid
ding cotton from the opening OF the
season.