Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1879-06-10
GNq,TnN.

AT the conclusion Of our last review of the
|icial week of the cotton market middllng
tton In New York quoted l3c, advanced
Is l-16s; New Orleans quoted l258c, adj
Inced to l22Ic; Liverpool quoted l5-l6d,
3vanced t. ID There has been much IN
rest 10 obs irving now cotton would sup
bit the advance of nearly one cent made
pm May 18th to 10th. Our last weeks re-
ew showed a reaction, New York Il down.
ow we find some recovery from that
action indicating that sudden rs was
advance the last week bat
he in May it was solid. This
lows by contrasting the quotations at the
bd Of the official week we are reviewing
ith those of the corresponding date in May,
follows: New York, during the month,
dictated the above advance from I216c TO
B I-l6c; New Orleans from II &c to l2Ac;
liverpool from 6jSd to I'd; Memphis from
i @c TO 1880. There Is popularity here
AZ deserves notice. We see that during
la m0ath specified New York advanced
+16c. New Orleans &c, Memphis &c, and
liverpool I'D. The difference lG the case OF
liverpool Is very great. The reason y that
liverpool advanced at the very beginning OF
tay-6Ssd May I'd and 62d May 3d-yet our
merican markets did not follow until May
bsh. When Liverpool on May lst quoted
|IId. New York quoted ii &c; and when on
|lay i4th Liverpool quoted I'd, New York
|uoted I2l6c; that is TO say that during the
me Liverpool went up one cent, New York
Idganeed only &c. The dilatoriness on this
|ide accounts tor the suddenness when the
pward movement did begin. But why was
.he upward movement delayed when the con-
Hilton of the cotton market showed the nat
tralness Of an advance troa the very open
ne of Maya 1t vas delayed by the msnifn-
|aiious of the New York market, the artI-
kcial aud often mere technical move
tnents of which are perhaps TOO
Elayishly submitted to by the interior
narkets. We had an instance of this she
hanipan" during the week under review. On
TUESDAY last Liverpool advanced to 118d,
1ith sales OF 10000 bales. On tie same DAY
New York fell from the l3l4c of the dag 6e;
ore TO IS 3 Isc The influence of New York
npon the cotton prices of the country IS
subject worthy Of thoughtful investigation.
The New Orleans PicdyuHe, OK saturday,
saws. "The general position OF the Market
remains about the same as last week. & FUR
Lher reduction IN the deficit in the worlds
visible supply cOIgsTed with last year oc-
cured last Friday, owing 70 the large ar
rivals out Of cation sfloat for the e0ntlaent
during tue corresponding week OF last year
5pinners are evidently still pursuing eau
.ious policy, buying but little until compelled
by necessity. As far as possible they. Will no
doubt refrain from any action caic1iaFef 70
further excite the market, unless some unfor-
seen event or very untaVoraole accounts rela-
hive to our crop should induce another
scramble for the staple"
Receipts in Memphis during the oflcl4
week aggregated 448 bales, against Big
bales the previous week, and 1882 bales the
week the last season, and 6O5
bales the season before, The total receipts
,ince September /, 1873, were SS5, O54 b2les,
against 404, 704 bales at the corresponding
lime last season, showing decrease OF II
$50 bales, Total receipts same time IN
IS77-7S, SO 702 bales.
Shipments during the Official week aggre
gated 4549 bales, against 4940 bales last
week, and 1862 bales the corresponding week
last season. Total shipments since Septem-
Der lat are 372 732 bales, against 400, 726
bales the same time last y6aF, decrease OF
q, 994 bales.
The total stock on hand was 1875 bales,
against 5,4l7 bales last week, and 92IO
bales at this time last year.
Sales during the week aggregated 10
bales, all TO spinners. During the previous
week sales amounted to $50 bales. Total
weeks GALES during the corresponding week
last year. 1850 bales. Price Of middling cot.
ton, 1886; against lie at the same time last
Worlds visible supply at the end Of last
week, 1871 1893 bales, against 2,O62, goo
bales at the same time the year before. De-
crease Of cotton Ia sight, 27l ,566 bales, as
compared with the same date IN 1878, and
decrease Of S59,355 compared with the same
date in 1877.
The cotton kilograms yesterday, Monday.
had little 10 them of interest; the principal
thing was a slight rise in New York spots fol
some reason not apparent, but the advance
left the market nominal for the rest OF the
day. New Orleans declined with small sales
In our market there was no demand, few or
ders being on band and still fewer desirable
lists on the market. which, however, were oil
fering at quotations,