The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-03-12
ST. LOUIS COTTON MARKET.
HOW 1T "RULI.s" AND BEARS
TO SUIT CUSTOMERS.
A Very Plain Statement That
shows why the ~. Louis Quo
tRtIOns Are DOctOred.

Little Rock Gazette: The subjoined
suggestive paragraph appears IN the
financial and commercial department
of the st. Louie Republican OF the 4th
instant:
The Quotation Committee Of the Cotton
Exchange had quite n time settling prices
yesterday. A portion OF the committee IN
sisted upon advancing middling Aoi the
rest of tho committee were ttubb IN, how
ever and finally declined 10 make the change.
As kind Of compromise, middling was al
lowed to remain unchanged, while middiing
fair and good middling were quoted higher.
The advantage of a good, full quotation in
the beginning of the season, when cotton
was To be attracted hero, was evident enough.
But now, when the Eastern buyer Is the
party wanted, care should be exercised not
TO make quotations excessively high
So it appears the st, Louis quot.
tiong are not influenced by the actual
state Of the market, but by considera-
tons of policy inspired to draw cotton
TO St. Louis. 1.-THE advantage OF II
good, full quotation in the beginning
of the season, when cotton was to be
attracted here" tay the st. Louis
cotton men, twas evident enough.
But now, when the Eastern buyer is
the patty wanted her" meaning in
st. Louis-"care should be exercised
not to make quotations excessively
high"
This is plain enough. At the begin
ming of the season cotton is wanted.
So the quotations are "doctored" by
the exchange to attract cotton from
Arkautas TO Texas, in the belief that
the quoted fgureH can be obtained.
The Texas and Arkanta5 shippers get
caught in the trap. The market tam
bles TO the real basis Of sales In time to
work the shippers freely. 1t Is neces.
cary only 10 lower the quotations; and
as these depend on the selfish interests
Of the st. Louis men, and not on actua'
sales, nothing iB essief.
This is fraud No. l. Fraud No. 2 ia
thus explained by the Republican, re-
porter; lot now, when the Eastern
buyer q the party wanted- har+H7,
NEE ding ST. Louig1.4o. IS TIE East
! srn buyer wants low quotations, the
I Quotation Committee, which begar
the reason az "bull, desiring to SttTac
cotton by tho offer Of high priceP, be
comes "bear" by 30 quoting as to de
press prices. The reason for this
from the st. Louis standpoint, is o6Vi
Gus. The offers Of high prices whei
the bulk OF the cotton was to D
shipped to market sent the cotton int
st. Louie. A large stock Is still o
} hand. 1t must be sold, and St sue
/ figures as can be obtained. The A
} kansas and Texas shippers, unable
hold for higher prices, are now at u
mercy OF the "bears," in whose int
!. eet the Quotation Committee now i
: bors, and must be squeezed. AS vi
d suggested in the committees consult
], ton, "care should be exercised not
9 make quotations excessively high
z OF course, the gulled shippers cann
t help themselves, and next seasc
!, some other method will be devised.
D "Will You walk into my parlor
4 said the spider to the fly.
The Arkansas and Texas flies walk
l in. They were caught in the M
9 The "bulling" circulars and the "dc
), tored" quotations did the work. Al
t now our shippers will understand wi
o their business with st. Louis is ge
o orally unsatisfacioTy.