Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-09-01
Makes a Very Gratifying Exhibit Nos
withstanding the hort CrOp-The
Receipts, in Proportion
To Those of the Whole Country, We're
Two Per Cent. More Than Those of
the Year Before.
The Average Prices in the Memphis Mar
ket Ruled in Favor OF the Planters,
Who Regard This
The Best Place in the SOuth for Ready
Sales and Satisfactory Returns-A
Very Complete Review.

The Memphis cotton market was last YEA
two per cent. in receipts better than it wa
the year before, taking the whole crop Of the
country. That IL 70 say, Notwithstanding
the long drouth which in this section was
felt especially severe, Memphis handled two
per cent. more Of the crop than she did Of the
crop OF IS8O-S1. We have more than held
our own. NotEiihstspding this, the season
Just closed may be considered "peculiarly Pc
culiar." There was short crop, the oIdi-
nary consequence Of which would have be- n
high prices High prices did not come, for
full stock remained on hand. Liverpool
was well supplied; receipts came in briskly,
the ripening being hssted by the drouth in
the fall that cut down the yield, and Egypt
and India cent in large supplies Worse
than all, the cotton planter is 50 habituated
to crying "wolf, WOLF" thst when the wolf
came nobody believed that the crop was
what it turned out to be. The same unrelia-
bility that lend TO the abandonment OF the
crop reports Of the cotton exchanges caused
Incredibly when incredibly WAS death to
planters profits. 1t would be some compen-
sation for year Of low prices and deficient
crop If planners would learn not 10 "hurrah"
without cause; in the long run they are
losers by the practice. At the same time we |
see once more how important to seller as well |
as buyer are accurate reports and estimates !
of the crop, and it lies with the planter 10 |
give almost ENTHUSIASTICALLY accurate reports |
for the evil TO be remedied. A Boston paper |
remarks that "prioes hav, not been as high |
az might have been expec ed had our cotton
planters aud merchants known a year ago
what they know now" True; but why did
not the planters know, vino had the cotton
felds before their eyes? Because they them
selves have no faith in the reports, and
while crying "woli' 10 scare the buyer
they keep each other, well as
the rest of the world, in ignorance,
the parer we have quoted from when it says:
The loss falls chiefly upon the Southern
planter; the profits are shared by the Euro
peau manufacturers aud consumers. During
the year our cotton interest has been tribu-
tary 10 Europe, rather than profitable TO our
own country" This is a notifying conclu-
sion, but it is the lesson that what is pecu-
liar in this cotton season teaches. The spec
ulators, with all their shrewdness, could not
get over the effects of statements unbelieved, :
full stocks, and Indian ard Egyptian ex-
ports. At the same time the Indian trade ;
was very heavy, The market being filed with !
It's large imports OF Manchester goods the
previous two years. Even the severe floods
Of the Mississippi early, and the Interrupt {
ton on the Suez canal and the almost stop
page Of planting in Egypt on account of the
war later, could not overcome the initial l
difficulty arising from want of confidence s
in there being a shortness OF the crop.
Could the statements of thai fact made at !
he opening of the season have obtained re- !
lance, the whole history of the cotton crop of !
1912 would have been changed. The :
condition of the crop now approaching ma :
urity ia such az 10 arouse anxiety. The /
Teather, with the exception of a week sup in !
he nineties," in June, has been unusually
,old, with frequent rains and in some placts :
disastrous floods; for the season the weather t
emains cool, and Inc consequence is that the '
crop is seriously behind, so much SO that we i
nave a phenomenon of which we know Of 10 :
Drecedent-the arrival OF the opening of v
new cotton season wilkout single bale of /
new cotton having reached this market. '
This is a strangs fact and it tells Us hat r
Unless sunshine, blue skies, and all sorts OF
adorable influences set in and coniinue-the
ate of the present cotton crop must lie in {
he date of the occurrence of a shilling" I
rost. This uncertain condition OF the \
rowing plan, together with the decrease OF \
he stock Of old cotton-a decrease caused by I
he deficiency of last season having lowered {
tocks, and the fact that they will sill fur
her be lowered by the necessity of meeting +
he market throughout September with old
favorable TO the cotton seller. }
How far the war in Egypt AID what may J
low from il, may have an unfavorable inau-
.nce upon the Manchester market and the
price of cotton, remains to be seen. Iuflu- n
snces outside Of the cotton Barket itself are :
now complicating affairs, aud shrouding the +
uture OF the market and the probabilities !
IN which calculaIIaos Usually based, and !
he predicters "hav- b e. row to hoe" :