Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-09-01
sEPTsMsER.

The first month of the cotton season of
18Sl-S2, opened with u growing adverse
opinion as to the 5000, 900 bales yield, which
had been so confde ntally predicted in the
earlier part OF the growing season. This
change of opinion was the result OF
traoIdinary drcuth which prevailed during
July aud August, destroying much OF the
upland crop and causing premature ripen-
ing in the lo~lands. All the markets be-
came bullisb, aud the opposite element were
almost poweTless in their fforis 10 counteraCt
the cry OF short crops" which these cir.
eumst ances threatened. The first week Of
this month opened with all markets tending
upward in ho.h spots futures. The price
of middlint in Liverpool begun at Lied;
New York, l2sc; NV Orleans, lie, and
Memphis, ~, aad closed with ad-
vances Of I6d in Liverpool; &c in New
York and NV o leans, and &c in Mem
phis. This srcord week opened with de-
cline of 1-l6c in New York, while al other
markets maiutsined prices ruling at the
close OF the week previous. New York con-
iinued to decline each day until al the close
Is, was los; Memphis and New Or.
leans maintained the opening quotations
OF the week until the third day,
when declines set in resulting at the close
in losses OF &c; L'verpC OPs decline was not
announced until the fourth day when I'd was
lost, and the week closed with no further
that Memphis held firm and unchanged
against uufavorsbls news from New York,
and in the face of the fl .ghiiness OF the
future market. Spot dealings were al
: most wholly lost sight OF in the abssfbiuS
interest taken IN future transactions, which
were OF the most exciting character during
the entire week in New York, v here Septem-
Der deliveries had become the bone OF con
tention between the "bUils" and she's ~
AT the close Of The previous week in New
York distant months became the absorbing
feature, and near deliveries were losing
caste, which condition prevailed on the
opening of business. Near mouths los {
ing The mysterious Influences governing
the future board all the week gave it resu-
lar sunshine-and- aspect, in which, st
the close, IL was realized to many that there
was more shadow than sunshine. The third
week opened ON BE prices ruling at the close
of the week before, except loss of &c in
New York, but on the second day all hoae
markets went of &c, which WAS regained at
the close, at the same time Liverpool
adding Lied. The fourth and Lass week Of
the month began with no change in prices
except an advance of Lice in New York
though there was tendency 10 higher prices
at all points. This feeling ripened TO a gen.
eral advance in the middle of the week, bu.
toward the close the gains were lost, aud Ibe
week and month closed With prices 3-l6d
higher in Liverpool, 7-l6c in New York, &c
in New Orleans and 5cin Memphis. hau at the
beginning. Toward the close OF the month
New York dealers manifesied a disposition
to regard the reports OF "short crops" as
greatly exaggerated, and the @bear'' element
chung IenaciousIy TO the 100000 estimate.
During the last wsek of the month promi
nent cotton merchant of this city received
a telegram from New York Offering
70 wager $4,000 that the coming cotton
crop would exceed 100000 bales. A
dozeu voices within hearing OF the read
ing OF the telegram offered 10 take the
bet, and kilograms accepting it were imme-
distely forwarded, adding that double the
Amount would be readily covered. Ga the
neIt day response was telegra phed that
the party had changed his miHd and declined
10 put up the amount. The following tables
show prices ruling Tor spots and futures on
the last day of the month: