Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1878-05-28

The last New York Bulletins weekly review
said: The stronger indications noted IN our
| last review have been fully verified. and for
the period covered by the present advices
there has been an active, advancing and
more or less excited market Indeed, the
long and severe struggle appears to have
finally brought a considerable advantage to
the bull party. The base from which the
improvement started, and the support and
stimulus which have added to values day
by day appears to be found principally IN
the statistical situation verifying the pre-
vious predictions of operators for a rise.
The steady absorption of deliveries on May
contract from the FIRST Issue of notices de-
veloped determination to take all the cotton
offered by those whose interest 1t was to do
so, the supply thus received was pushed out
OF the country rapidly, while shipments from
the southern ports were also full, which, with
a shrinking tendency on receipts, and the
failure Of negotiations to secure what little
could be found In the interior, seems finally
to have convinced the bears that accumula
tons were well under control, and the power
of holders increasing every day. To COM
mence covering was the natural result, the
first demand for which, In decided form, came
from outside or street sources, but soon
spread over the entire line of operators, who
were on the wrong side, and the hurry and
skurry thus produced gave much buoyancy,
of spectators, who, having made their loss,
changed front, and commenced on the long
side to get even Other elements have aided
the advance, such as the increased demand
for spot cotton, both on domestic and foreign
account, a continuation of specific feelings
respecting the political situation abroad, and
the strength and advance on the Liverpool
market in the face of the very threatening
labor troubles In the manufacturing districts
of England. The rapid additions to cost
here have already placed US considerably
above a parity of Liverpool, which, In itself,
is considered a dangerous point. Watts
d Co.'S Liverpool circular, of May 10th,
reports the ma ket there as sustained by more
pacific news, by the increasing strength of
the statisti .al position, and by the unfavora-
Die crop reports from the East Indies; strikes
at home have had, to some extent, neutral
izinR influence The latest Indian advices
indicate that the total from the five ports this
year il likely to fall short of the very small
receipts of last year. The change in the visible
supply IS this week really startling. The de-
hcit last week, as compared with last year,
was only 384, 600 bales, but the deficit to-day
amounts to 5l3, 900 bales. The increase IN
the export of goods during the past month
has amounted to 1880 per cent, and IN yarns
to 2l.77 per cent; for the four months there
has been an increase In the export of goods of
OH per cent, and in yarns of 1890 per cent.
Inc uodVy bHlpLncubS Vi yarns nave Uocn
mainly to the continent. This IS healthy
sign. The stock of cotton held by continent !
tai spinners at the close of last month IL esti-
mated by Messrs. Ellison & Co, In their
report, to be 100000 bales larger
than at same date last year. The stock of
cotton held by English splnners we now esti-
mate at 1876, 600 pales, against 1S6, 900 last
year, and 193, 900 the year before at this
date.
Receipts in Memphis during the official
week aggregated 2529 bales, against 2744
bales the previous week, and 628 bales the
week last season, and l7l9
bales the season before. The total receipts
since September l, 1877, were 40l, 343 bales,
against 378, Ala bales at the corresponding
time last season, showing an increase of 22,-
was 476, 975 bales.
Shipments during the official week aggre-
gated 1882 bales against 5072 bales the
previous week, and 1878 bales the correspond
ing week last season. Total shipments since
September 1st are 1893, 745 bales, against $751;,
$50 bales the same time last year; an increase
of SO, 106 bales.
The total stock on hand was IL, 1893 bales,
against l6, 846 bales last week, and 26,1
bales at this time last year.
Sales during the week were $3.50 bales,
$50 to exporters, $3.50 to spinners, and $50
to spectators. During the previous week
the total sales were $3.50 bales. During the
corresponding week last year the total sales
were $500 bales, of which exporters took
1850 bales, spinners $3.50. spectators =.
Price of mlddling cotton 1870, against 1920
at the same time last year.
The following table shows the course of the
Memphis market and the price of middling
80 La