Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-01-14
FINANCE AND TRADE.
COTTON.

kilograms from New York yesterday i1di
Gated another quiet day in the spot market
the transactions being but slightly increased
above those of Thursday, with no change in
quotations
New York futures were irregular at the
opening, with the price list off 6 to points
for current and near deliveries and to
for distant months affected by the yield OF
the present season. A change for the better
occurred afterward, which continued up to
| noon during which all lost at the opening
| was recovered, and several points additional,
but during the afternoon another decline
worked down prices until at the close, with
| the exception OF October which scored
| gain of 9 points, and November and Deem
| Der which remained unchanged, all months
were off from L 10 5 points-January and
near months the heaviest losers. On this
condition of the price list the market closed
weak.
The New York Commercial Bulletin, of
Wednesday, thus discusses the situation:
Speculation continues under a feverish,
doubtful strain, and a noticeable feature of
the market is still shown in the rapidity
with which a large number OF operators
change their base on what appears the
without much difficulty to the great uncer-
tainty still prevailing over the all-impor-
tant question of supply. The bulls have
recently been enabled to secure quite a
showing of advantage the lighter run
OF receipts at the interior towns and its
reflection through the movement at the
ports, which tends to indorse their
theory of a perpendicglar falling off
at early day, and has led not
only to covering among the more timid
shorts hut has brought back many as invest
ors who through choice or necessity sold out
at the commencement of the month. At all
times, however, there has been very marked
tendency to run away from anything in the
form of actual cotton, and a submission to
such wide differences for carrying as to lead
to comment, if not apprehension, with a re-
iteration of the theory that there is entirely
too much cotton positively in sight and
awaiting sale to warrant much If any further
increase of values, unless there should be a
shrinkage in receipts unprecedented in the
his orr of the staple. Some of the more pro-
nounced bears are reiterating the belief
that the South holds much more cotton than
credited with, while those of a conservative
tendency, who are willing to admit some
what smaller crop, claim that present show
ings give strong evidences that there will be
cotton enough. Ignoring the probability of
an almost cessation of arrivals, predicted
BY the bulls but acknowledging the chance
OF quite a reduction IN the movement, it is
predicted that with the amount In sight the
contributions from other parts of the world
and the more economic production of spin
ners, consumption will be too slow for the
necessities of those who have acquired own
errhip at high cost and retain it with heavy
carrying expenses added, and that danger of
a serious break is thought to be imminent
unless very radical offsetting influence can
De introduced. The present form of opera
tions would also indicate a bslief that mat
sers must eliminate within the next month
or six weeks"
New Orleans spots opened and closed
quiet, with no change reported in quotations.
New Orleans futures were steady at the
opening. but closed barely steady, with val
ues reduced to 3 points.
Liverpool spots were easier at previous
quotations. and sales 1000 bales less than the
previous day.
Liverpool futures opened weak, and closed
dull, with no changes reported in prices.
The local market opened firm, with a bet
ter demand during the day. Transactions
were made fully up to quotations, which re-
manned unchanged, with a steady tone at the
close.
An additional response was received at the
Cotton Exchange yesterday to the question,
"What is the cause OF light receipts, bad
weather or exhanstion?" as follows:
GALVESTON, TEX, January II.
Henry Hotter, Secretary, ETC.:
Because crop is much less than last year.
A. G. MILLS.
While the above does not answer the ques-
ton directly it conveys an idea of the infor-
nation sought to be obtained, and comes from
the secretary Of the Cotton Exchange of that
city.