The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-03-13
ON 'CIIANGE.

AT Liverpool yesterday wheat was
firm with a fair demand, holders offer
ing moderately. Corn firm, fair de-
mand.
CLOSING prices of May options at
Chicago yesterday: PORK, $40 liz lard,
6.02lc; clear rib sides, 5.35c; corn,
40lc; whe t. Sjsc; oats, 32Bc.
REPORT Of Grain Elevator yesterday:
Wheat nothing doing; in store, 3057
bushels. Corn received, 1909 bushels;
withdrawn, SO; in store, %, 1888 bush
els. Oats received, none withdrawn,
1926 bushels in store, 1891 bushels.
THE Manchester Guardian, in its
commercial article, says: The market
is inanimate. Some moderate sales
have been made for both prompt and
future delivery. Prices, however, were
mostly unchanged Transactions were
small. Yarns are fat, with u slow de-
mand Prices are easier. Spinners are
anxious Tor i tscsi business; they an
ticipate lower quotations.
CT. GREENE & Co.'s cotton report
saws: 1t has been mainly an effort to
liGuidate "long" cotton all day. Some
little covering operated rs BRAKE to q
more rapid decline, but the close shows
nearly &c under last evening and the
tone weak. The advices from abroad
continued tame, and were particularly
unpromising for Manchester, while
the labor troubles ut home, having al
ready reached q portion of the manu-
featuring interest, creates u fear that
the strike may become more extensive
and disastrous.
THE OH, Paint and Drug Reporter
SAYS: "Cotton-seed oil has recovered
part Of its lost ground, owing to inn
portant sales at the South and the re-
lease OF the bear pressure for the time
being, but prices are not materially
changed, although some holders en-
terrain extreme views and are quoting
above schedule values. We are wired
from Memphis tonight that prime
crude is held firmly at 23l to "a cents,
and sales of 2000 barrels are reported
rs occurring in that market last Satur-
day on private terms. The New Or
leans market is unchanged at 20 cents.
The question, what effect the current
low price of cotton will have upon
planting and the consequent size OF
the next crop, is beginning to attract
attention. Inquiries yesterday on the
floor of the Cotton Exchange, how
ever, did not develop any very decided
expression of opinion on the subject,
and none of the members consulted
had received any special informa-
ton on the point from their
Southern correspondents. A lead
ing member said he had no doubt
that il the extreme low price
lately touched had continued to pre-
vail the planters would have been in
duced TO reduce the acreage consider
ably. Another expressed the opinion
that current rates were not so bad
after all, 80 far as the planters are CON
cerned, since the profits of middle
men had been reduced so low that the
net returns are little less now than
they were when prices were much
higher. Buyers are handling cotton
at n very small commission, freights
are low, and all expenses in market
ing the crop are much cut down. Pro
visions and supplies generally have
also fallen, so that bale OF cotton
will buy as much now as it would
years ago. The cost of production
has been thus reduced, II not TO the
same extent as the price of cotton, a
least in such proportion that the
planters can still do better in cotton
than in anything else. The trade ac
cordingly do not look for any sensible
reduction in acreage"