Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-02-21

| sales by 1880 bales, and fair proportion OF
I this was found to be due to a change of front
| BY spinners going in for East Indian cotton in
| preference to American where grades allowed.
The comparison with one year ago shows
that in kinds which compete with one an
other there is wide margin. Fair and good
fair Oomrawattee are 11-16d and Cd, and
Dhollerah 3D. and 5-l6d lower, while ordinary
and good ordinary American are Id higher.
This disparity between values has attracted
attention, and in consequence the official
quotations for the American grades have
been reduced ID this week, while surats are
only partially 1-16d lower. SPinners have,
moreover, had trial lots of surats, and these
have led to repeated orders for quantity, es-
pecially 'to arrive and on the c. i. T. basis a
very good business in these being done this
week both here and in Manchester.
In the manufacturing districts operatives
are agitating for advanced wages, and
with the cotton section it is noteworthy that
the Great Western Cotton Mills at Bristol
are shut down owing to the hands being out
on a strike for better pay. The Oldham
masters Just now are considering a demand
for ) per cent. increase. and the North
Lancashire hands are asking u per
cent. advance. The spinners are not in
any mood to concede either of these, and,
with a glut OF manufactured goods in both
the home and foreign N qrkets, they would
not be averse to shutting down Tor a while
10 allow tune for the markets TO get light
ened of stocks. This view keeps spectators
in Liverpool in check and accounts in part
for the refusal to follow the higher range of
prices in the New York and other markets."
The local market has been nearly paralyZed
all the past week by the unfavorable, and to
a great extent unexpected, news from the
New York and Liverpool markets, and there
has been an almost entire absence of demand
from any quarter. Factors were slow TO
yield to the depression in values, and buyers
held off awaiting Developments The
week began with quotations unchanged from
what was ruling at the close of the previous
week-ll sc-which was held until Thurs
day, when &c was clipped, reducing the value
of miodling to l14c, and the week transpired
without any further changed.
WEEKLY SUMMARY.
Receipts in Memphis during the official
week aggregated 3S65 bales, against 49l4
bales the previous week, 9446 bales the cor
responding week last season, and IA, Us bales
in 1880. The total receipts since September 1,
1881 were 296, 9S5 bales, against S4l ,955 bales
at the corresponding time last season, de-
crease of 1870 bales. At the same time in
1880 the receipts were 337 $50 bales.
Shipments during the official week aggre-
gated 5l45 bales, against 6l72 bales the
previous week, 1881 bales the correspond
ing week last season, and Ia, $50 in 1880. The
total shipments since September LIST were
pa, $50 bales, against 272,207 bales in 1881,
and 216,474 in 1880.
The total stock on hand was 80, 3l2 bales,
against 76, 1872 bales at this time last year; in
1880, 120,962 bales.
Sales in Memphis during the official week
aggregated 6400 bales, of which exporters
took 1925 bales, spinners 2675 bales, and spec
ulators 100 bales against total of $3.50 bales |
last week, of which 100 were to exporters, !
500 to spinners, 90 to spectators. Mid
ding, IL &c.
MEMPHIS COTTON MOVEMENT.
The following shows the course of the Mem
phis market and the price of middling cotton |
from the opening of the season, as compared |
with the same time last year: