Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1876-08-08
Memphis Appeal
DAILY AND WEEKLY
ThePapers fOrtheP eOple
TheP Papers fOrtheP eOple
FINANCB AND TRADE.


week quoted middling cotton in New
York at lie, it advanced during the
week to HE; New Orleans quoted 1l4c,
advanced to 1Is.; Liverpool quoted
5 15.I6d, which advanced to l.l6d;
Memphis quoted lie, and advanced 10
lite. This statement shows an advance
"aIl along the line" 1t has beer caused
by the more encouraging position Of the
Liverpool market, which is sharing in
general Improvement, which springs
generally from the improvement in the
rate Of silver, which, having been az low
as 4s9d an ounce in London, has recov.
cred so fsr as to quite 50I. This has
ease! the trouble with India and i'm
proved the tone Of public feeling. The
crop reports continue generally favOrS-
bic, but there is some complaint OF more
rain thsn required in some places, bat
no damage Of serious amount was in.
Guided in the weeks general weather
report. There il, however, some dispo.
siti0n here 10 view the condition OF the
crop As less favorable in some respects.
The demand for cotton il our market bas
been good all week, more so than the
disposition 10 meet the market by hold
eTs complaints bal1g constant that cot
tons most ia favor have been held of
the market. Low grades of good staple
have been in good request and have
sharply advanced. As the week closes
cotton holders are feeling increased con-
ii fence, tut the dullness OF trade in
England, snd the near approach Of the
new 8ttoD crop limit the views OF pos
sble further advances within moderate
Compass, unless decided calamity should
shorten the crop. The Z. Z. Lee carried
tae frat bale Of the new cotton crop
raised in the Mississippi valley, into
New Orleans on Friday last, August 4th;
IL was grown in Warren county Mjssis
sippi. The Manchester Examiner OF
July Goth, hesitates to accept the sd.
vance ia prospects as being on q strong
basis, it Gays: "The late improvement
was based partly upon an advance in
cotton, for which no adequate reason
could be assigned; partly upon the as-
sumption that production vas about to
be further largely curtailed, which Is
even yet ia from being certain; and
partly upon an idea that silver could not
20 lower, about which it is scarcely too
much to say that no one knows any
cotton market, the New York
Bulletin said the market was
supplied with fair amount
of business aud firmeT Indications, and
adds: "The clt sest scrutiny fails to show
anything positively stimulating in the
general position, local, southern or for
eigD; and iE required the well.tried and
cultivated engineering skill interested
to work vsluss up inch by inch as they
have gradually hardened. 1t is admit
ted that there may be more behind the
advance than Is discovered by the IN
initiated. Manchester Offers no greater
encouragement than months ago; our
own mills are working slowly and eau
tiously, crop accounts continue univer-
sally good, with maturity close at hand.
Contracts bavs undergone few fiuctua-
tons, bus the general tendency was up
ward, and nearly every day of late has
seen a slight advance. AT first the basis
of strength was somewhat Analogue US,
but finally seemed to arise from specu-
lative ma ipulstiOn and pretty free pur-
chases Of the issue Of August notices by
exporters" Since this was written, the
Liverpool market has, two or three
times, been spoken of in the kilograms
a. "buOy2nt,n aud the advances in
pilCS LEeI5 unFO BuOWA Lbdk buc
better feeling hiss remained and
spread, as the following from the same
paper of Thursday shows: "On con-
tracts the market has been excited and
buoyant on near by engagements, but
otherwise slow. At the opening bust
ness was q little dull all around, but
a gradually hardening tone was to be
observed, when, suddenly, during the
afternoon, the manipulation conceB-
tr7ted upon August, resulting in sharp
advance, and some little fright and
scramble to cover, which YVES Eept up
well to the close. The impression in re-
gard TO this month seems to have under
gone change, aud the tendency is now
more general 20 accept the theory of q
pretty full twist and possibly a 'cor-
ner,' though q few still insist that the
short interest is not large enough for
such movement to amount to much"
Receipts in Memphis during the official
week aggregated 526 bales, against
468 bales the previous week, and 154
bales the corresponding week last sea-
son. The total receipts since Septem-
Der l, 1873, are asa, 500, against 32l ,574
bales at the corresponding time last sea-
sOn, showing an increase OF 1852, 935 bales.
Shipments during the official week
aggregated 3l49 bales, against 2976 bales
the previous week, and 27l the cores
pOndlng week last season. Total ship
ments since September LIST are 1854
bales, against 324, 254 bales the same
time last year; an increase Of LAG, 40
bales.
The stock on hand was Is, III bales,
against -, $40 bales last week, and 3l5l
bales at this time last year.
Sales during the week were $500
bales, against $3.50 bales the previous
week. OF the $500 bales sold this week,
spirners took 1925 bales; exporters, 1875
bales; spectators, 800 bales.
The following shows the course Of the
Memphis market and the price OF mid
ding cotton from the opening Of the
season: