The Milan exchange. (Milan, Gibson County, Tenn.) 1874-1978, 1878-05-30
The Memphis Cotton Trade.

AAC uAChzPuAs SOktOA ALSNuCs
Notwithstanding all the drawbacks
of the present season, and they have
been severe, especially from the east
ern war, Memphis has good reason, en-
inent reason, to be satisfied with her
own market. The season opened with
receipts all behind hand, so that in
October and November the estimates
of our total receipts for the season, cal
culated by experienced merchants,
were as low as $4,000 bales; more
sanguine estimators ventured as high
as 375, 900 bales; the generally accept
ed figure was $50, 900 bales. The bold
est estimator fell far below the fact.
Last evening the receipts at Memphis
attained the figure flour hu1idred thou
sand bales; in exact figures, 400,2
bales! At the same date last year our
totalreceipt was 378, ia bales, making
the receipt, so far, $4,000 bales more
than at the same time last year. We
have, therefore, now receipt of 25,-
600 bales beyond what the most san
guine person had looked for US to re-
ceive by the last day of next August.
We have now total receipt of 10, 900
bales more than the entire total ofau last
season, and have yet three months and
ten days to the end of the present sea-
son. The present estimate is that our
entire receipt for the season of 1877
Is will be 415, 900 bales. Nor is even
this all we have to congratulate our
selves upon. Notwithstanding an in
crease up to this time of 20, 900 bales
in the receipts, the stock, instead of
being correspondingly larger, is actu-
ally 10000 bales less than last year,
and 20,950 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
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
a recent meeting of cur cotton ex-
change prominent English buyer sta
ted that no cotton that had been put
on the Liverpool market this season,
was superior, in its packing and every
detail of putting in market condition,
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 man.
ner 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 we're very favorable in
price in relation to other markets, and
decidedly superior to any other south
ern market in the United States, for
portion of the season doing better than
New Orleans, with which market our
prices range at the present time. To
the adoption by the cotton exchange
of the supervision system is more es-
pecially due the brilliant success of the
present cotton year. Under that sys
m damage from exposure to the
weather, from bad handling and care
less usage in transit and from dishon-
est 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
spinner and the foreign dealer, and es-
pecially to the grower, who knows that
his produce is put on the market, un-
der the supervision system, in the best
and most favorable manner possible.
. Nom obis 4u1lenl