Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-03-07
THE COTTON MARKETS.
WEEKLY REVIEW MEMPHIS MARKET.


At the close of the APPEAL's resume of the
cotton market for the week ending Friday,
February oath, middling spots quoted 11sc
in New York, from which an advance Of
Ice was announced on the first day of the
past week now under review, making the
price Il IL Ice, which ruled until Friday, the
last day when another Lice was added, and
the week closed with &c prevailing-show
ing an advance of &c during the week.
The future movement in New York began
the week with a sharp advance on all
months, which was a continuation of the
tone on which the previous week closed. The
second day Monday showed a sudden re-
version of feeling, resulting in declines nearly
as great as was the advance of the first day,
but the depression died out with the close of
business, and on Tuesday and Wednesday
prices advanced steadily until Is to 20 points
were added to values. On Thursday another
reaction occurred, and to IL points were
lost, only to be recovered on Friday, the last
day-the result of the weeks dealings being
advances ranging from II to % points, dis
tant active months being the favorites. OF
the Influences governing during the week the
New York Commercial Bulletin, of Saturday,
has the following: efforts to infuse
stronger tone have been numerous, and at
times apparently tending toward con-
siderable success; but relapse followed
each struggle, advances in price bringing out
a supply the moment the form of bidding in
dictated that orders were filed, and only very
slight pressure tending to wipe out the gain.
Among the buyers have appeared one or two
operators heretofore standing aloof, but at
last willing to take hold on the chances, if
not the conviction, that with the continued
light run of receipts the foreign spinners are
likely at any moment to wake up to the
necessity OF promptly becoming owners of a
portion of the supply awaiting them, and
with a movement of actual cotton once
started, positive buoyancy on values is
looked upon as a natural sequence. The
de sire to invest, however, has not been in
fused into a sufficient number TO give 'bulP
movement general or permanent support,
neither have the advices from abroad given
evidence that apprehensions of a scanty sup
ply are greater than a month ago, and 1t still
remains with the few TO carry pretty much
the entire weight OF the market. The
bears have manifested no inclination to
Jump upon or sell the market off with free
dom but appear as calmly confident as ever
that further material break is inevitable
and await the time when the pressure OF
steadily accommodating supplies forces owners
to seek line of values where they can re-
lieve themselves OF at least portion OF the
load now being carried awaiting a market.
The light run OF receipts has, as usual, been
met by the argument of impossible country
road, etc and it is claimed that certain in
dications this week tend TO show that as soon
as the opportunity Is afforded them, planters
will rush forward cotton with great deal
more freedom. Two or three features have
to-day friday favored the bulls, and with
the non resisting policy lately adopted by
their opponents, it has been found possible to
iufuse a somewhat frmer tone again and work
a partial recovery on yesterdays decline.
The light run of arrivals at tine ports and
I'm Her showing at the interior towns on the
final figures received, coupled with the con-
tinued overflow of the Mississippi, have had
a tendency to alarm the shorts and led 10