Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1879-03-04
COTTON

AZ the close Of our last weeks review Of
the cotton market for the Official week, New York
week, sdvancs TO 9 1880; New Orleans quoted
ola, and so remained; Memphis quoted 9lic and
mained This statement shows cotton essentially at
the same price as last Oeek; indeed, for the four
in price, not va,ying in the New lIk sp0t market
mora than l4c-a A-lB To l3-l6c. on various
days the 20 mas become "duil" and even weak, :"
but the quotations have heid up with a SLOW adva,e
the month through During the last thee weeks II
has been noticeable IN our m trket that splnners
have been taking more c1JtOn than exporters, d
thing that had not occurred before since the TesH' p
figures below vii show that our Memphis receipts
are making rapid steps toward tquallng those OF
the previous season. while our sock has. at the
time. relatively decreased IN considerable propOr
ton. Bankruptcies OF very serious character occur
have spirited trade TO look tor In that panicstrck
en- quarler IL Is az euc uTaging thing 70 ob erye,
planters could wish. that low pIcs has the effect OF
dseouraglng exports from the East Indies, Brazil
elgn production, aud that decrease establishes US
firmly as the great cotton supplyers OF tre world.
on ' ths Tod s market The SeS Yo,k H n
IL last weekly review OF the cotton market, said:
powerful IN amer In which Il was supported when az
dimes the Influences appeared 10 be an OF nature 10
the one side attributed simply TO financial strength
which permits the carrying of cotton against all OBJ
sanguine bears sufficient to prevent them FROM sell
ing. and nnally In great many cases induces COW
or delay In realizing expected profits. On the
other hand, however, the operators Tor a
rise continue TO claim good solid basis for
the streng h. The ruling price remains with
them as one argument for Investment, while the
figuring suppl 8 already received. and what may
be expected 70 follow, is taken assurance that
all cotton Will BE- wanted. The deficiencies in tue
East India anu South American crops daily become
more prominent, ana II Is asserted that they ust
more than n-ut allie the gain on our own growth
BE- found In the matter Of consumption. The last
report OF he National cotton eXchai ge Indicated
NuNlH aH han rtf ~
manufacturers abroad IS OF the same slow and dis
pirtlug nature under which bus ness has dragged
throu IA NJ the season. Manchester seeIns 10 snow
no power of rrcupsratiOn whatever. and this with
the ,ificIltle- between employer ana emDlOye ia
lglaUd continually coming 10 the sur ace, ketp>
alive the apprehensiOns that material must shrink
greatly on cost before II can be worked INTO con
sumpt on wi IN any form OF freedom"
Receipts In Memphis during the official week ag-
gregtted ] ., $50 bales, against J. 800 bales the
previous week. and lO,227 bales the c rrespOnoing
week last sessou, and 1927 bales the season be
fore The total receipts since september /, 1873,
were yO7 g54 bales, against 334 734 bales at the cor
responding line last season, showing decrease OF
2B $50 bales. Total receipts same time In lS76-11
Worid visible supply February 21st, 2.49+405
bales against ?. 69a,6I5 bales at the same time the
year before. Decrease Of cotton In sight, 200 2IO
bales as compareu with the same date in 1873
and dee ease OF 5lb,2O4 bales. as compared with
shipments during the official week aggregated
1872 bales. against 2O,2H9 bales last wees, and
1866 bales the CORES pOnding week last season
Total shiDments siace September LIST are 25O s57
The total stock on hand was 80 051 bales.
against 5n55S bales last week, and 6O024 bales al
this time last year.
sales during the week were 1900 bales, 1900
bales to exp rters, $3.50 bales spnners, and 400
bales 10 spectators Durng the previous week the
total sales Were 1880 bales. During the CORE
spending week last year he total sales LOCO
bales OF winch exporters took $500 bales; spin
ners. 1850 bales; spectators, 100 bales. Price OF
mldulng cotton,Sl4c, against lOl4c at the same time
last year.
lMOuday) we're less favor 4Dle. he dull and weak
fo1e n some of the markets eliminated in Teduc-
ZION ia the quotations at New Orleans and In Mem
mis- In our market, during the whole of last
Syee the inquiry good for all cotOns above thr
lowest grade and at the new rate there Was good
disp0siiiOn 10 buy. ] he New York Bulletin OF
Friday renoTts: ION contracts the opening OF the
market developed little weakness, with pretty free
offerings for a time March. Later, however.
some or the prio cipal sellers turned ana became
BUYERS and tnis strengthened the position, ana IL was
held firm during the balance OF the day, with 4d5
DOuts recovered fIOm the lowest point This COW Is
about everything new. The foreign accounts coz
tInue tame the pts fair, and there not seem
10 be anyshIng really stimulating I'm the Influences
sbo Vn: but the position Is we'll held md Sc l-Ts y
fairy claim the Gu rent advantage There has again
been consi eraDle Going IN the way OF getting en-
gagemsht, forward from near-0 T. later months on
tine part OF both bulls and bears"