Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1878-05-22
OBsERvATIONs YEsTERDAY.
WAR DEPT, SIGNAL SKRvICE u. g. ARMY. ,
TUESDAY. MAY 81. IS7S 10 nS u m
THE MEMPHIS COTTON TRADE.

Notwithstanding all the drawbacks of the
present season, and they have been severe,
especially from tine eastern war, Memphis
has good reason, eminent reason, to be satit-
fed with her own market The season opened
with receiptsiall behindhand, so that in October
and November the eshm Ites of our total re-
ceipts for the season, calculated by expert
enced merchants, were as low as $50, 900
bales; more sanguine estimators ventured as
high as $4,000 bales; the generally accepted
figure was $4,000 bales. The boldest esti-
mator fell far below the fact. Last evening
the receipts at Memphis attained the figure
BALES; in exact figures, 400, 264 bales! At
the same date last year our total receipt was
37S,lH blles, making the receipt, so far,
22,090 bales more than at the same time
last year. We hive, therefore, now a re-
ceipt of $4,000. bales b You'd what the most
sanRuine person had looked for us to receive
by the last day Of mex, August. We have
now total receiI Of Is, 900 bales more than
the entire fo'ol 0f all last season, and have
yet three months and ten days to the end of
the present season. The present estimate is
that our entire receipt for the season of 1877
78 will be AIS, 900 bales. Nor is even this all
we have to congratulate ourselves upon.
Notwithstanding an increase up to this time
of $1,000 bales in the receipts, the stock, in
stead of being correspondingly larger, is
actually 1900 bales less than last year, and
2O,950 bales less than the year before that
This difference is owing TO the activity with
which sales have been made in this market,
spite of war, and strikes, and all the long
continued depression of the Manchester
trade. A more forcible proof of the estima-
ton in which the Memphis market, and of
the cotton it supplies, is held, could not be
asked for or given. At recent
meeting of cur cotton exchange a
prominent English buyer stated that no cot
ton that had been put on the Liverpool mar
ket this season was superior, In its packing
and every detail of putting in marketing con-
dition, to the cotton received from Memphis.
This testimony is fully supported by the way
in which the Memphis cotton has been taken
up by the buyers. To our cotton exchange,
and to the manner in which it has set the
claims of the Memphis cotton before the COM
mercial world, is due the principal credit for
the successful sales of the year, which were
not only magnificent in quantity but were
very favorable in price in relation to other
markets, and decidedly superior to any other
southern market in the United States, for
portion of the season doing better than New
Orleans, with which market our prices range
at the present tine. To the adoption by
the cotton exchange of the supervision sys-
tenn is more especially due the brilliant sue
cess of the present cotton year. Under that
system damage from txposure to the weather,
from bad handling and carelese usage in tran
sit, and from dishonest plundering, has been
avoided, and the Memphis cotton has been
put on the market and delivered to the buyer
IN a style most satisfactory to the home SPIN
ner and the foreign dealer, and especially to
the grower, who knows that his produce is
put on the market, under the supervision sys-
tenn, in the best and most favorable manner
possible.