Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1879-06-17
GsEIHDN.

L the conclusion OF our last review of the
ial week OF the cotton market middling
pa Ia New York quoted IL l-l6c, aud de-
ed during the week TO II 1916; New
ans quoted 124c, declined to 1850;
1rpoOl quoted 70, advanced on Tuesday to
i l6d and closed at I'd; Memphis quoted
Il, declined TO l21Sc. This statement
gs that cotton is falling back from the
j lion it occupied at the opening of ihe
th, when the New York quotation was
lie. This decline has taken place in spite
ne fact that Liverpool advanced on Tues
i The very day that advance occurred
Arpool sustained a decline. There have
been contrary Influences at work in the
markets. Smith. Edwards & Co.'S cir
r, reviewing the month OF May, shows
j the English are manufacturing cotton at
7 to that will leave them perfectly bare of
K before the new crop reaches them If
hold up to the present working rate.
fact gives a strong tone on that side.
this side this fact is met by
encouraging views from the various
bn exchanges in their reports respecting
condition Of the crops. From June to
lember, however. ia long interval In the
pm crop, and with the statistical position
be staple standing where it does. cotton 10
k.ed very a6vantageoualy. A writer in
New York Bulletin says the cotton sup
n for export and domestic splnners, from
y lst to September Ist, will be 10000
Is, against 325, SOL bales taken same time
season 10y northern spiuners alone He
mphaiic IN the opinion there will be no
plus of cotton before the new crop be-
es available, while, with the existing
trade in this country, we have little
pare for export at present values. Yet,
les Europe takes a respectable share of
above go 900 bales, supply stocks there
{ run down dangerously low before new
lie can be received at foreign ports. The
lstlcal position Of cotton appears, there
so exceptionally strong, it will seem
is ample loom for quite further ad-
be in ito value N the next three months.
cur own market during the week more
on was sold than during the week before
. hen only l7j bales changed hands-but
i were triflng, stocks being low, perhaps
bales unsold, and orders very few. This
of affairs has acted upon factors, who
bad to abandon their strong demands,
ubmit to declines. and to rake conces-
3. The whole week s receipts amounted
56 bales. The New Orleans PioGyE1Is, OF
.lrday, has the following: The depres-
. in our local market has sprung mainly
a lack Of demand, but there has not been
i n PRESSURE 10 sell, and portion of Tbs
lction In values Is of a nominal character.
4 Liverpool and New York markets, par
larly the latter, have fev5rish tone. At
former place spinners have continued to
d aloof, as they have sufficient from
ner purchases to supply present wants,
! gh sales the last week arc quite respect
]. Tue tone CO the market for futures
e, however, is not such as to cause ex-
ne anxiety on the part of the bulls.
will be observed also that spots
Liverpool have not changed ma
billy. New York ia on the anxious
L, as Is indicated by tbs spas
bic action of the marker. the SPECTATORS
in a peculiar position at the present time,
are not disposed to inaugurate any bold
pain either way. At current rates bull
cement would be hazardous. In face of
statistical position the bears have no
rage for a movement for large profits. In
er words, the elements which are likely to
ct values for the next four months are SO
Arly defined there is but little room for the
.ersity of opinion necessary tor active spec
|tion. This premises an average cotton
bon in America, for it cannot be doubted
ID the question Of supply Is now so mar
bed down that anything much below q
'orable season IN the south would speedily
uence the markets even for the early
|nths. The various departments Of the
|tIonai cotton exchange of the United
ties have row issued their May reports on
cotton eror, and from them we have com
Id the following table Of acre2ges: