Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1876-09-01

In instances filled with middllng cotton. The
export demsnd was interrupted toward the
conclusion OF the month by simultaneous
OF freight-room. he Chronicle, Or October sd,
said; ANY one, who has followed our
weather reports, must be pre- ty we'll satisfied
that In Arkansas, Mississippi, much OF Ala
bamay and In the portions of Texas above the
storm, and In parts Of ouistauR and Tonnes
see, tne extent OF the yield Is 10 be measured
by the capacity to pick. But, unfortunately,
the in-2atheribg of the crop has not thus far
been verS satisfactory. First il began say eight
Gays: later than q year ago. Then, again Ia
bad feature), while In all the other states
mentioned, except Arkansas and the upper
half of Texas, many days more than last year
nave oeen lost on account OF rain; aud, fur
ther, unusual sickness is reported to have
prevailed among the freedmen through Dor
are, or course, disappointing, and do not up 10
this ate favor so lGrgS an Out-Jurn as was
anticipated by some. On the other hand. it
Will be rcmenl bered that on or before the
first of December, 1874, about all the crop in
the most OF this district had been gathered,
while this year the fact will be very differ
ent." Middnpg, at the opening of October
quoted l21sc, at the close l21&c; lowest, on the
nrst, EaSc; highest on the thirteenth, 1896
Total receipt at the close 65,S0S bales, against
| 66 99l bales the year before.
= November.
This month opened with receipts so FAR in
creasing beyond ths preceding year that
where they were sustained by "bulling" oper-
ations Our report at the end of the first week
In November said: This year the crop i5 late,
last year 1t was early; ii the late crop of this
year has all ady sent the figures of receipts
beyond those OF the same time last year, how
much will this years total crop so hey ond
that of last Year," Orders for cotton were
largely for good ordinary, but they had gem
orally to be filed with low middlIng aud mid
ding, so fine was the condition of cotton
arriving. On the third the day s sale amounted
to 400 bales, the busiest day of the sea ,On so
far. AS the month advanced full receipts
caused prices 10 drag, aud in the second week
the fine picking weather and the restoration
OF quiet in Mississippi led to expectations of
still further increase, when 1t was announced
that "the splendid condition of the cotton
plant, oWiog to the summer rains
has caused estImators to overrate the amount
of cotton produced, and the next monthly
reports of the cotton eXchaf ge wild show
that here has been more leaf than lint, and
etc thought probable" This was ingenious,
but 1t did not keep prices p in the face o. in
creasing receipts. The market at this period
was watched with great anxiety, an / spe lula
tors showed disposition TO operate on The de-
cline. The question OF the amount of re-
ceipts governed everything. Dusty and stained
cottons be- an to arrive, with Indications of a
too great plenty of them, but the general
quality and staple co ming to hand were most
satisi actory. Memphis receipts were very
fun but the shipments were beyond the re-
ceipts, showing good market Prices neces-
sar1iy looked down in proportion to the re-
ceipts, and the declining tendency was aided
by monetary embarrassments icing prevalent
in Austria Prussia, and the English East India
trade; with heavy bankruptcies in England.
Liverpool circulars at this time anticipated q
Strengthening position of cotton on acc unit
of lighter stocks on that SIDE, The last week
in the month there were reports of destruc-
ton OF cotton by a storm that had beat the
Int into the % nd, while the frost In October
was found to have serious effects, but thesers-
ports did not Keep up prices. Liverpool began
to complain of too much cottOn;" eastern
mills found goods hard to get of; this was
hard times" Difficulties between Tur-
key and Hei zegovtna began to complicate
the influences acting upon business. Specu-
laffN
ing they o1l1 soon be higher. The banks
we're very liberal with advances 10 those
tieth, reviewing crop reports, stated "The
cotton exchange returns point to a crop OF
| Alb 900 bales, while the bureau figures would
| Indicate a yield or only about $50 800 bales"
| Mlddllng, at the opening of Novem Oer,q quoted
| l212c, at the close, PIC; lowest on the eight
eeuth, PIC; highest on the frat, I21zc Total
receipt at The Ose III 4l9 bales, against I35 Sl4
at the same time tue year before.
December.
This month opened with prices steady, an
active dem nd for cotton. Dusty was avoided,
clean stains in fair demand, middlings and
above relative high, with speculative buy
ers taking Il up with esgerness while holders
of 1t were very firm. The weather was cold
| ami wintry the first half of the month, and
we had frost and ice on the ninth and six
days following, preceded by snow on the
eighth. This weather interfered with the
picking, spoiled aud destroyed much of the
c,tton remaining out; the result some
improvement in prices, with considerable
activity In the markets. Ihe sales of the
week ding the seVente nth, were the largest
of any week of the year, Is 500 bales. Tele-
grams from all quarters assumed more en-
couraglng aspect, especially for good cottons,
as the bad weather caused fear that much
low stuff would bs thrown on the market,
and except for clean stains there was little de-
manC for 1t; dusty cotton was especially out
of favor. The receipts this month were tue
heaviest OF the season. On the week ending
the seventeenth 3O,3Si bales arrived, never
theless the stock on hand was 1900 bales less
than at the same time the previous year, a
proof of no iuconsiderab degree OF activity
in our market Our prices during portion of
December were on a par with thnse OF New
Orleans. The New York Chronicle, OF the
eighteenth, rev ewing the monthly reports OF
the cotton exchanges observed: at may
be stated in round numb ers, we think, that
these reports indicate crop OF 4, 900 bales"
As re- 1Rs mona AIDES above low miin%
tint Ell relatively higher than other qualities.
out tne4e was general easing of prices with
decline OF Hc from Il highest point of the
month. The last week Of the month low
grades began 10 atuac attention, with some
speculative buying, on account of their rela-
twenty.ninth were 67,299 bales more
previous, that was the first daV on which the
stock, since the opening of the sea- on, was
equally as large as the stock of the year be-
lore up 10 the same time. The agricultural
bureau report published this month sGid: at
Is almost certain that the crop viii pass the
limit of four million bales" Middling, at the
opening o; December, quoted Ike at the
close 1255c; lowest on the nrst, l2Zc; highest
On the eighteenth, l25fc. Total receipts at the
time the year before.
January.
During January cotton was steady in price,
but ranged slight lower than on the previ-
Gus month. receipts continued full, and at
the opening of the month were 6g I'm hales
more than at the same time the year before:
but The stock was 1900 less. Dusty cottons were
out OF favo'; there was good demand for al |
clear styles, but middling and above were
principally sought for, and quoted relatively |
higher than the comm0ner grades. The New |
YoIk BuiItttn, at the opening of the month, |
said there was disposition to raise the esti-
mate of the crop 10 1900 100 bales II was re- |
ported that considerable losses of cotton land |
occurred from beating rains, and W nds that |
carried 1t away, viii the VicksbuIg papers |
reported loss from the intrusion of cattle
fep ces being DOR. The bureau December re.
ort allowed reduction of two to four per |
cent. "for difference in maturing and gather |
ing, AMI estimated the total crop at not less
than 4O50,0OO, nor more than T. 1900 There
were continued arrivals ofdusty cotton which
we've an eyesore to factors add h 4ted by buy-
ers. 1t was stated that in many quarters plant
ers had expire ised their intention to procure
IN, chanicAl cotton cleaners, so as to send to
market Only co.tOn-not cotton and soil |
As dusty cottons sell relatively much lower
than clean, 1t is evidently the planters inter
est to send only clean cotton to market so
that he NAV get a fair market price for it, In
United States poris were 27625O bale, mora |
than at the same time the previous wear. A |
WllI.Durg, ACkaDSaS, CORES Ondent WrOt9 to
us, al this time, as follows: "TGe cotton-fields
sre still While, the staple often scattered by
the winds and lying worthless. But all this
does not fnlIy account for the loss. The fact
is there is certain independent carelessness
on the part OF debtors, from the beginning of |
The fall, that strongly contrasts with the affa-
Die, persuasive, begging manner while seek
Ing faVorS In the spring. Some hold off SELL |
Ing; some, knowing they cannot meet their |
debts, have become desperate This state OF !
Things is common here, aud bus ness men are |
Mosb. Hunt & Co. 5 cot on cir |
culai of December l2th said "W deem it uo- |
wise to base any operations upon a crop esti.
N ate of less than four anu a quarter million
bales" There was good deal of anxiety to |
sell, especially low grades, the weakness and |
frequent declines in Liverpool much inter. |
lering with the confidence of holders; mer- |
cnandise generally was shrinking In value |
and cotton had 10 be- its share of the com. |
mon tate. Dnsty COTTON sold as w as dive |
cents pound. The Chronicle of the I5tn an
ain no event Is the crop likely TO |
90 belo y 4, 10000 bales" Smith, Edwards n |
Co. Liverpool; circular of January st report
ed the estimate there of our crop to be | .
|, 500. 600. As the month advanced, 10 y quail
lies became more and more cut OF favor The
diminished prices or the lower Qualities of |
cotton awoke specuIators' attention and to-
ward the latter part of the month cOttous
free from dust were readily taken on specu-
Ia ion; "too much cotton" was generally
OF. The January LIST number of
Jhe Chronicle had an annual report of cotton [
spinning in the United States, which said
that "Our power to consume cotton has ont.
stripped our capacity for consuming goods"
4 foreign outlet Is therefore wanted. Low and