The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-03-14
FINANCE AND COMMERCE.
MONEY PER CENT, NEW YORK.
EXCHANGE LA PREM. SELLING.
Cotton Quiet and Easy Middline Cot
ton. 6-sc-sales Today, 400 Bales
The Tone Of the General Market
steady---Meats Steady.
ATRIAL OTTER,
Ts,t.xn.y rvu~tNa March m 1kka

TUESDAY EVENING, March ~ 1855.
Money Is still loanng at 8 per cent. and
banks, as a rule, show no disposition TO lower
rates. II is asserted that there Is an un'
usual demand, Cor The season, and that the
rapid development OF various industries is
likely TO keep capital fully employed, and
that the usual low rates of interest hereto
fore prevailing here for a few weeks during
the spring will no, occur this year. AT the
same time the supply Of funds Is ample for
present wants
The clearinghouse report Is rs follows
Clcarinps Balances.
< Tuesday March u, 1855 ala2p ~ lsi,s@ z
inns lar this wcck..,..".- 'V,As2 % .iliS y,
s'orrespondinr time. iSS5. ..'....'.... i:H7S2 ii
corresponding time 1886. ."y......- lC96A 20
EXCHANGE.
New York and cities north and east, on
demand, u discount buying. New York
and principal cities north and east, sight y
discount buying, New Orleans, 81 discount
buying.
Selling Ratcs--on New York, = per cent.
premium on sums below $1,000, sl.50 per
1900 premium on sums Of $1,000 or more;
on Cincinnati ST. Louis or Louisville, $50
per a. 900 premium on all SUMS on New Or
leans, $50 per $1,000 on all sums. Prime
commercial sterling, Sis2 AS2'S.
Local securities are quiet and unchanged.
No transactions today at the stock call board
session.
The local cotton market closed quiet and
easy, with sales Of 200 bales. There were no
sales at The New York market aud no reports
were received here as 10 futures, but bust
ness was generally suspended, owing 10 the
great storm. Liverpool closed quiet without
quotabc change, with futures qnict and un.
changed, cxceptas TO the late months, which
advanced point. New Orleans spots closed
steady aud futures very duh aud Off
points.
From Brads,rccrs Of the 10th the following
i taken; Last week Bradsioocfs reported
that nearly 900, 900 bales Of cotton were held
nj about 100 interior uncounted towns at the
south, aud that no cotton was held at about
200 other towns This was based ON from
two 20 fifteen replies from correspondents In
nearly every oot,on-growing county in
twelve States. Our report accounts for
nearly 100000 bales Of cotton Of the 1888
rrop, but there are still To come forward TN
the six months 10 september !, 1883, stocks
how on plantations back Of the 1 400 towns
reported by Bnidshcei's, besides tho new
crop cotton which may be marketed In Au-
gust next II IL, therefore, safc 90 say that d
crop estimate Of 100000 bales Is too low.
We know, Therefore that distinct gain has
been made by our February cotton report, In
that exact information has been obtained,
which cuts OF some Of the crop estimate"
based ON incomplete data Il f. now plain
that The low crop totals were unwarranted
That thc trade generally accept this view Of
tlhc situation j. manifested by the rrahjust.
meat Of prices and excitement IN the cotton
markets during the past week
Boadsifofs position W. simply this On
February - We find that 0,3S5 ,alD bales OF
: cation had been marketed or were held ~
described. THERE'S, ofcourrc, considerable
quantity Of cotton remaining back Of III,
towns We rcporicd-and We rporicd NOR
than live times the number II cotton towns
at which stocls have ever before been ~.
ported. How much there Is ~ remaining We
do not know. The December total Of ~.
ports 81 our correspondents, giving an indi-
Gated crop Of & 40, 900 bales. looks too small.
Watcher the crop IL TO be 6.OOO,Ooo or eco,
600 or Gs00.oo0 We do not know, but we be-
lievc 0.5oo,0oo to be too small a total"
The local general market remains quotably
unchanged. except as TO bulk meats, which
were marked OF &c.
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