The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-03-02
ON 'CHANGE.

FOLLOWING is the visible supply OF
wheat and corn as compiled by the
New York Produce Exchange; Wheat,
50, 1906 bushels; corn, ll,5O3,9lO
bushels.
CLOSING prices Of May options at
Chicago yesterday: Pork, 30 622 /;
lard, 6.05c asked; clear rib sides,
5.424c; corn, 40Ic; wheat, sale asked I;
oats, 32lc'
4 Underground turnip, raised from
seed furnished by X. G.. Craig d Co.,
was on exhibition at the Merchants
Exchange yesterday. II is 10 inches
in diameter and as large as cabbage.
REpoRT of the Grain Elevator yes
terday: Wheat received, none; dis
charged, none; in store, 3057, bushels.
Corn received, 1856 bushels; with
drawn, 225 bushels; in store, 1892
bushels. Oats received, 624 bushels I;
withdrawn, 1927 bushels in store, 3d.
0S6 bushels.
MEMPHIS Merchants Exchange Quo
tation Committees for March: Gro
ceries and Provisions, ]. II. Martin
chairman, II. J. Eckerly and George
b. Metcalf; Produce, A. w. Newsom,
chairman, and Ike A. Chase; Grain,
X. s. Taylor chairman, and h. l..
Bridges; Flour, q. 7. Mays chairman,
and ]. NJ. Williams; CottOn-Seed Pro-
ducts, +. W. Brode chairman, ii. j.
Parrish and j. G. johnson.
VISITORS on Change yesterday: n.
Smith, Arkansas; X. J. Thompson,
Harrison, Miss; VIM. Smith, Oil
Trough, Ark. j. r. Dulk, Oil Trough,
Ark. Judge J. II. Stuart, Monmouth,
ILL.,; Mrs. w. V. Sullivan, Oxford,
Miss. Miss Mary +. Moore, Kentucky;
b. BULGE, Baltimore; J. j. Hardy,
Greenville, Miss. J. II. Owen,
Brownsville; j. A. Brewer, Browns
Vile; J. G. Ikesheimer, New York;
DR. X. X. James, Cotton Plant, Ark.
j. w. Wright, Corinth, Miss, and j.
n. McCurdy, Augusta, Ark.
THE New York Ecniag Post of
February 25th says The question is
frequently asked whether the value of
cotton has not been sufficiently re-
duced to encourage speculative pur-
chases. No doubt prices are low, and
Unforeseen events might cause tenn
porary ii not permanent advance.
However, in the regular course OF
events il is TO be considered that the
article is at least quite as cheap in
Liverpool as in the lowest oiour South
ern markets, that the supply
of American and Indian cotton
will be abundant, that business
i'm Europe is unsatisfactory, and
that political home affairs in Great
Britain are in a worse state than
ever Under such circumstances it
cannot be matter OF surprise that
there is hardly any speculative de-
mand. As far as Liverpool is con-
cerned it is to be hoped that the de
mand for consumption will be large
enough 10 support present prices.
Occasionally, weeks of large buying
may cause a temporary start in the
Liverpool market, but the time for a
durable improvement does not seem
to have arrived yet.
WE learn from the monthly circu-
lar of the Manhattan Savings Bank
and Trust Company, issued yesterday:
"While it will be noticed that the adj
vance in values of local securities has
been general, the greatest apprecia-
ton has been made by our municipal
Taxing District-bonds, and this is
really the most gratifying feature in
the case 1t has taken some time to
convince some of our own people of
the almost unsurpassed situation of
Memphis as a distributing point; but
now that the fact seems established,
beyond doubt, that Memphis has
really just begun to wake up from her
lethargy; when we see one railroad
after another coming this way;
when all reputable enterprises -four
ish; when new buildings begin to go
up; when the volume of bank clear
ings steadily increases; when
foreign capital eagerly seeks our
doors; it will be seen that the appre-
citation in our securities is not base
less. The single exception to the gen.
eral advance in dividend-paying stocks
appears to be in the case of Memphis
Gas Light stock, which is q cents
lower than at the corresponding time
last year, but which had sold 81 cents
higher than last year during the past
two weeks The decline has been
brought about by the threat of one or
two ex-holders of the stock to organize
a competing company. While the con-
struction of a new company would
doubtless reduce the revenues of the
Memphis Gas Light Company, we
doubt very much that the agitation
will result in anything but a reduction
in the price of gas, and, collaterally, a
reduction in the rate of dividend.