Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1876-02-22
FINANCE AND TRADE.

Our REVIEW Of the cotton market
last week reported midiliug cotton IN
NV YORK al ! 3 b; Il dscl ned on Wednes-
dan ~ 1919 Nv Ore1I wa quoted
81 l2tc and - remained. Liverpool
quot d87l6I: on Wednesday il fell to
8 a aid o. r'u stay 20 6 l6j. Mem
pnis gu yted lz!s, which on Thursday
shru1k 20 1919, I'd o. Friday 10 l. .
This IL a dis p51intiUg exhibit. When
we wrote our TevisS last Week il wGs
believed very commonly that cotton had
touched b1,tJm,n but another week
has brought new decliLeL New York
IS Il lower, Liverpool / lower, and
Memphis lower The "why" Is well
eKpizlned Uy the New York Bulletin,
which says that the most industrious
student Of the ii ,ures csn come to no
Other conclusion than "t0o much cot
TOM tie fact Is that we are feeling the
p es-u-e 81 cur rivals. Cotton ffom the
Eat Indies, Egypt, and elsewhere, is in
the market, AID reduces the demand
for nuF cotton. This rivalry, whose ef-
fscis We are now so strongly perceiving,
on Sht % excite much more serious at
tentiOu among ~ than has yet been
given % II. Ii Is ceItsiDly not to
be extinguished Jy growing short
crop, Of cotton aud getting as much As
for short ~ for large one.
That Is playing into the enemyis hands
and leaving q large vacuum IN the
m rEe .. the world open for him to
I'll. Neither Is IL 20 be overe0ms by
growing LARGE CROPS grown by labor that
Is fed on corD, and pork, and hay aud
cas- bought from a distance instead of
bHing grown a. home. Neither Of these
things WI. do, ii l. for those concerned
in cotton 10 rtfigc. what viii. Toe
prob en 4 not unso!v.ble, the answer lie
not far 70 sees. II must be sought,
however. aud lie dictates carried oul, or
the cotton grower and these dependent
on the staple will have 10 lament 10 dust
and Hshe.. As gu incentive to reflection
weplint out tha; notwithstanding the de-
ellie I the WeeE, Liverpool is still quot
ing cotton lover than New York. The
New York Bulletin, IN its weekly review
Of the cotton market on Tuesday last,
spoke SIS follows, the time that has
elapsed since has only made more i'm
pressive what was said q week ago:
Pretty much all estimates Of crop ex-
coed four and q quarter million balCe;
the supplies in sight are full es
compared with the very slow and
cautious coasumptive demand; the
foreign smuIkets, and especially Liver
pool, show 10 vitality, snd our rates here
for actual cotton aTe far above anything
which will give q margin. Indeed, il is
claimed there Is no outlet 10 which New
York could ship and not make loss,
and that nearly every domestic point Of
dis TiDutiOn, aud even some Of c0nsump-
tiOn, can send cotton here aud receive q
pr, fit Tine n lid arguments in oppCsi
tioI t. the believe IN lover prices ere
the repetition O the claim that values
have already Fhrunk to the full extent
Warranted by tn situation, and that the
Insignificant run ~ receipts during the
last half ~ thu cotton year are TO Iuly
r store the bulls all the advantage they
now lack"
X ceip.s in Memphis during the official
week aggregated IA DAB bales, against
10 700 ha 20 the Prev, Us week, aud $3.50
bale the corr s,Uud ng week last sea-
SOD. The 10 al ceipts since Septem
Der |, 1875, aye 3S2 l06 against ga 507
ba es al the corresponding ime last sea-
son, showing an increase OF 1O7. 599 bales.
Shipments during the official week
aggres a ed 10 3l4 bales, against
IA 095 bsi's the previous week, and
ID 9l9 the co responding week last sea-
500 rn'sl shipments since september
LIST are 800, 100 caies, against 2l3, SS5 bales
the same tune last year; an increase Of
I06 IA bales.
Tue stock on hsnd was IS $50 bales,
agai st 60 $40 bales last week, and &c.
SOB bales at his time las year.
Sales during the week were $500
bales, agsiu-t IL 900 bales the previous
week ani II 800 bales the correspond
ing week as year. OF the $500 bales
sold this week, spinners took 1900, ex-
POI ers AGO, Spectators 1900; against
900 oale- t. spinn,rs, 1900 TO spseula-
tors, and $500 to exporters the same time
last year.
The following shows the course Of the |
Memphis market and the price Of mid |
ding cotton from the opening OF the |
season: