The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-10-15
UNFAIR QUOTATIONS.
A Weak and an Intellectual Attempt
Answer the News Criticisms.


Answer the News Criticisms.
From the Meridian Miss News
On the 9th instant the Nors took occasion
10 show up the cotton quotations OF the
New Orleans Cotton exchange and point
out how they were injuring the business
OF interior towns.
The Picdgmc and Times Democrat were
discrcety silent about the matter, but the
CITY htn, with its usual promptncss TO get
the bottom facts Of matters OF local interest,
published what the Ncw said, and inter-
viewed leading authorities on the question
at issue. To place the subject in fair
LIGHT the Nciw' article IL reproduced with
the comments Of New Orleans cotton men
thereon. II is given in full, head lines
and all:
From the New Orleans city Item. oct 8.
uSfAR cmrICIsN- DEcRYiNO NEW ORLEANS
As A cotton MARKET.
Prom the Meridian News Oct g.
QUOTATIONS. AND PRICES.
The apparent difference in the Cotton
exchange quotations Of cotton la New Or
leans ~ reported in the 7imo- Democrat
and the PicrVtfns and what that staple
actually brings in that market, led the Acirs
90 make some inquiries In relation 20 the
discrepancies.
To Illustrate. On the 9th inst both
these papers, in the spot prices, quote mid
ding cotton y GIG cents. and good mid
ding at 10 cents. On the ith Mcssrs. Car.
Ter 4 Co. tried 10 place 900 bales, but
failed to obtain prices named, M will bo
seen by the following letter from Mossrs.
Hazard 4 Co., brokers, New Orleans
NV onir,Ss, Ia, oct I, 1855.
Mcssr. Caricr6 CO., Meridian Mis-;
Gentlemen We are in receipt Of your |
day message offering 200 bales, middling |
nj "a cents, and 100 bales strict to good
middlng al VI cents. We regret 10 say
We have been unable 10 place, ~ mid
ding cold hcr, today a, 81 cents, s,ric, \
mildling NJ ~ cents, and good middling at
VI cents. Very truly youE,
HAzNRD & Co
From the foregoing Il will be- seen that |
Mcssrs. Carer q Go. failed TO sell mid. /
ding cotton at unc-siNiccnth under /
the exchange quotation, 0.l6, and |
this WIS considered "too high." since mid. !
ding sold that day for ~ cents. In tact |
this figure. va, was for ( o. b.. cotton, !
which ought 10 bring at least onc-sistccnth |
more than spo, sales.
II may be we'll enough for the New Or
leans Cotton exchange 10 quote cotton
from $40 to above actual prices, but II h
n shaun and a dclusion.
II that was al, New Orleans might rcap
the glory OF Il, but a- italI,c,s the business
oi interior towns, u should not be con-
tuucd.
With middlins cotton NJ . cents IN Me.
ridiuu and the same quoted At pp.lG IN
New Orleans, thc producer at once jumps
Co the conclusion that be- is being goughrl
by Meridian huvcr-, when in fact lee ~
getting within ui a cent Ut what his cot.
ton will actually sell Tor In New Or
leans.
Wherever the wrong lies, II should be-
rcmcdicd.
ruE orHrR sinE
Mr. II. G. Hester. secretary OF the Cot.
ton exchange. was shown the clipping
and said ,ha' ihc matter was purely one
oi classification. Midding cotton NJ one
place was classified otherwise at another.
lie preferred not 10 speak ON the sub.
Jet, and ryivrrrd the reporter to Mr. II.
A. Frederick, chairman OF the quotation
committee.
Mr. Frederick said be- lid not care 10
answer the statements contained IN the
papor u dil not matter II the charges
W.c dispruyvl, that paper would CON.
inu' itH uygH. lions llr Hid 10 WIS
evident That tur party On ling Tint the
mlL.r. vas .uus down wanted tO sc.l aud
could NOT.
Mr Ashton Phelps aid Ii would nko a
column i1 dl#p.Ulv the statement. mldp
lie know nothing 1i thp matter. huyius
been away ia' WyHk llp declared that
spot cotton sold higher than g. Cd. o.. cotton
Gen. John q. ilUArl said chat country
merchants unfortunately loUk 10 spot quo.
tntinn7, which. for thv moment. urr much