The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-09-05
DOMESTIC EXCHANGE


New York and eastern demand, par buy
inc. 81. so per 81, 600 premium selling New
Orleans. 50 discount buying par selling.
Cincinnati, ST. Louisiana Louisville demand,
par buying, 81 per $1,000 premium selling
The local cotton market closed quiet to-
day. with sales unimportant AT New Or
leans spots advanced SC, closing firm; tut
uros closed steady at an advance Of IL points
for September II points for October and 10
TO 40 points Tor the later months. Liverpool
is quoted good at hardening prices, spots
unchanged and futures advanced 2 points.
Manchester yarns and cloths are firm, with
prices stitching little. New York closed
quiet, at decline of &c; futures closed
steady at an advance Of points October up
points, December up points, with the
late months advanced Il points. Sales last
week no; previously reported, G,2S1 bales to
exporters and 300 10 spinncrs,
Hubbard, Price 4 Co., in their circular
say; Liverpool this morning showed an ad.
vance Of about 4 points, indicating that
while our markets were closer ON Monday
the good feeling was not allowed 90 die out
on the other side From every foreign
source adyiccs were favorable and an active
demand Tor spot cotton prevailing prices here
assumed a buoynnt tendency Adding 10
this the reports Of light receipts, Of damage
TO the crop in the Mississippi valley by
heavy rains, aud continuous buying orders
and We find sufficient reason for the advance
which has occurred. The principal sellers
today have been the recent August bulls
who have freely disposed OF the early fall
months. The close was firm and left the
local outside short interest pretty well elm
mated, and should the fair weather Gdl TO
bring forward increased receipts tomorrow a
further advance would not seem unreason-
able 10 expect"
According 10 the latest Commercial Bui'c
d., while the ending " the August per-
Torrance has materially cleared up the
speculative atmosphere Of the exchange
there Is q legacy lrf that is already causing
some little pcrpIoNity over the chances Tor
September The disturbing element Is the
actual cotton delivered to 10 the bulls
and the natural uncertainty ng a. what dis
position viii be- made of IT, Many oi the
long, say they would like 10 have II ten
dorcd them ON contract. but hardly expect
~ NfA Alll lNNl'I'NH NlAANllH w. 'lNANNAA 'NNA
that cost materially above the rates NJ which
they are short, and thc more likely dispusi.
s,on viii he q" get as much Of the supply out
OF the country as freight room can bc en-
gagged for aud watch chances To use the re
maindcr In manipulatiyc way. There u
also the matter Of expiring certificates Ia be-
settled next week, aud altogether Il seems
best to handle the new month some.
what tcndcrly. on later options the inClina.
ton Il toward some hrmncys In general
way. q little more ~ than expected, grow.
ing Ia part from the continued effort 10
show that q portion Of the crop b. injured or
In danger and also 10 better average indica.
tons for consumption, both domestic and
foreign. Indeed, the latter is a strong point
viii, many, and "a one oi the number sug
Rcst'd, their feeling seems ca bo that from n
purely commercial view the situation Is
bulling, hut speculation has become alto.
geihcr too crutic In w. tendencies 10 induce
many heavy dealers even under strong con.
yictiOus."