Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-06-27

The New York Financial Chronicle of Sat-
urday, says: "The speculation in cotton for
future delivery at this market has been more
active for the week under review, and there
has been a considerable advance in prices.
There was steady upward tendency on Sat
urday, promoted by strong foreign accounts,
brisk business in spots and general buying
to cover contracts. On Tuesday there was a
slight decline at the close, owing to the ex
ceptionally favorable weather for the grow
ing crop and some selling to realize profits
But there was fresh advance on Wednes-
day, with considerable excitement. The
troubles in Egypt and their possible effect
on early supplies to the West of Europe
were the chief elements of strength. Yes
terday, with decided improvement at Liv-
erpool, the opening was buoyant, but the
early advance was not m aintained. To day
the advance of yesterday was fully lost under
dull foreign advices and sales TO realize, but
the close was steady"
The Commercial Bulletin, of the same date,
says: "All movements on the speculative
market of late have shown an absence of
solid conviction and positive determination
among operators, and an evident fear to push
advantages too rapidly. So long as values
could be kept on the upward turn, more or
less tendency to cover prevailed, but the
moment an advance was checked unloading
commenced, and was increased in volume as
entirely local, the outside orders not amount
ing to enough to lead 10 hopes of the infusion
of very necessary new speculative element.
The best of the position has certainly been
with the bulls on the support of the Liver
pool situation, and the steady movement of act
ual supplies from this port on shipping orders,
but the upward turn at all times had some
what labored appearances, and failed to carry
the conviction that 1t was permanent on any
nd ~ Eaf
this latter idea. There has been consider
able business doing, but it was under an
effort to sell instead of to purchase,
and q natural sequence coat has gone
off along the entire line, with the feeling
tame during the greater portion of the day,
the checks to the decline being the results
simply of little plucky bidding on the part
OF those whose recent operations make some
effort against the decline a necessity. The
change in the position from yesterday APP
pears very natural, the position at Liverpool
weakening somewhat, the scare over the
probable closing of the Suez canal subsid-
ing and our own spot business decreasing,
with the timid portion of the short inter-
est about covered. Indeed the demand in
all forms seemed to be fully satisfied, with
holders OF contracts in possession of little
more than they know what to do with, and
splitting out has followed almost as q matter
OF course, with some new Gales made for
quick turn, though the latter course was not
general or full enough to add materially to
the weight. The advices received from the
crop have almost without exception been en-
coursging, and in some instances very cheer
full indeed, and this has added TO the de-
pressing influences"
New Orleans spots, closing the week pre-
vlous at 12sc, began the week under review
at the same value, which was maintained till
the close Monday evening. SOn Tuesday &c
was added, the advance holding till Thurs
day, when another &c was gained, raising the
price to 12ic, which was held the remainder