The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-03-02

Thursday, March l, isss-.!s 1880 os ii2oos %
Thus far this week...."... l,sgaosl 70 A,b,Mi !.
Corresponding time issi..' i,ss2,s% Is <oa,5M u
Corresponding time. 1885,. l,sis8G9 % 2S0,29o 81
EXCHANGE.
New York and cities north and east on
demand, x discount buying New York
md principal cities north and east sight u
discount buying. New Orleans, 81 discount
buying.
Selling Rates--on New York, y per cent
premium on sums below 81 900, $3.50 per
1900 premium on sums OF 81, 900 or more;
pn Cincinnati. st. Louis or Louisville, $i.50
per 81 900 premium on all sums; on New Or
leans, $3.50 per 81 600 on all sums. Prime
commercial sterling s4.s9@4s2If.
The stock call board session today was de.
void OF interest, but few bids aud offerings
being made
Henry Clcws 4 Co., in their weekly fnOn.
rial Circular state that very little change
has taken place in Wall street since last
week. There was moderate improvement
In the volume Of business, and prices goner-
ally displayed firm UNDERGONE. The
strength with which few leading stocks are
supported, and the frequency Of temporary
purts, are suggestions Of n rowling specula.
i've spirit which may prove the forcrunncr
,f n more active market as soon as certain
restraining influences art removed. II Il
hardly necessary TO remark that chief OF
these influences Is the uncertainty of con-
grcssional action upon surplus and tariff
questions. The whole financial and business
Interests Of the United States are now wait
ing for Congress 10 place itself on rec
ord upon these questions IN manner
that will put an end TO all embarrassing un-
certainty. Tho general situation shows little
change. Railroad earnings are presenting
better results than anticipated, considering
the Generalization OF rates In some sections
Of the country and the blockaded condition
Of traffic IN Others, As for the rate war, II
Is hardly reasonable TO anticipate an imme-
diatc settlement II Is always moro difficult
TO advance rates than 90 break them, besides
which the changed conditions brought about
by the interstate law aud the unknown
status Of many OF the new rival lines are all
obstacles 10 be overcome before general har-
mony can be expected In the west and north.
vest On the other hand. II should not be
overlooked that the worst has been amply
discounted, and that the spirit oil the western
managers has changed from a thirst for war
10 a desire for peace. This Is a change that
In due season will bear ample fruit, and II Is
not unlikely that the securities Of the con.
tending lines will anticipate any improve.
meni In railroad Affairs as far In advance as
they discounted the present state Of demonl.
iEation. In the long run therefore We are |
believers in higher prices but buyers Of |
stocks viii do we'll 10 rest satisfied with !
moderate profits until the conditions for a
general bull movement appear Tiper than
they do NJ present
The local cotton market closed steady,
with sales Of 4, 500 bales.
New York spots closed quiet, and futures
declined Ia 5 points. Hubbard, Price q
Co, IN their cotton circular, say; ION the
improvement In Liverpool, where March or. |
der were taken carr Of, our market opened |
t,eady nj quotations Of yesterday, and spot
receipts were light especially at New Or
leans aud advanced points shortly after
the first call The effect II the receipts aoon
passed over, and those who had bought find.
Ing few or no business, sold out, depressing
prices O points from the highest figure.
Much OF the long cotton bought yesterday
has been marketed and prices closed weak.
though many orders appeared In hand at
about closing figures Adviccs from Man.
chester report that market without Inn
provcmcnt Large sales were made In Liver
pool before the close"
New Orleans spo,s closed quiet and easier.
with futures easy and OF o 10 3 points.
Liverpool Il quoted business good NJ un.
changed prices and futures very steady at an
advance Of To ? points.
Az New Orleans receipts Of sugar and
molasses are moderate. Sugar Is steady, In
good demand, and molasscs continues la
modemie demand aud steady. Clean aud
rough rice are duh, with tho movement In
both moderate. As 10 the general grocery
trade, the New York Commercial Bllicfin Of
latest date states that spices and coffee arc
the most unsatisfactory goods upon which
10 seek negotiation at the moment the FOR.
mer TO certain extent out Of season and
Che latter laboriug under the disadvantage
81 very uncertain speculative deals. other
leading commodities, however, are tending
toward improvement aud sugars In par.
teulaf appear to have pretty good grip,
With further hardening"
In ,he local markets trade Is steady, with
prices unchanged.
IMPORTS.
One hundred and thlrty-six brls applc..
W. pkg boots aud shoes, i,Gl1 bu corn. 4
fks coffee, 2OJ7 ks cotton seed, 4 cars cotton
.eed, lia Pike dry goods a. pkqs cggs. l. o.
hrls Hour W bales hay, % pigs hais, 4,