The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-12-21
DOMESTIC EXCHANGE.

DOMESTIC EXCHANGE
New York and Eastern demand So dis.
count buying, sight 50 discount buying, par
selling New Orleans, = discount buying
q premium selling. Cincinnati, St. Louis
and Louisville, demand 81 buying, par sell
ing.
The $4,000 in bonds negotiated by the
Manhattan Savings Bank on Wednesday
were bonds issued by the city Of Jackson,
Tenn, In payment of tile subscription 10 the
Midland Railroad. The bonds were placed
with Memphis parties at price slightly be-
low par, and being firstcass corporation Sc
curiucs no difficulty was met In placing
them.
In the local cotton market spots closed
steady at decline OF Lice Sales 800
bales or 2 200 to exporters and 1900 10 spin
ners. New Orleans spots closed steady, with
futures steady, December advanced point
and later months to 2 points. At Liver.
pool spots closed quiet with futures quiet
and of point
The Liverpool Exchange will be closed on
the oath, 25th, 2Gth and 3lst instants; also OIL
January /.
The New York market remains quiet, and
futures steady at decline OF ? TO points.
Hubbard, Price & Co. say: while todays
operations In certificates have not materially
affected prices trading has been decidedly
more active The best judges seem 10 agree
that the market II ripening 20 n point at
which some interesting developments are
likely to become apparent but opinions dif,
fer very decidedly ~ 10 whether such n
- 4 -.
lower prices. There are signs today that the
buying has been OF substantial character
and that cotton, especially the more distant
positions Is passing into the hands Of people
who are content 10 hold II for considerable
improvement. Receipts for the day show
an improvement Of about % per cent a,
compared with last year. which, however
without effect, as the market l. now adjusted
20 and expects very full movement and
any decrease In Il is likely TO be promptly
responded to by an advance In prices"
According 10 the Commercial bulletin Of
latest date. the market for certificates In
all general particulars remains much the
same NJ last advised O ut does not fall
away much, aud, indeed. for the day there
has been an apparent undcrtonc Of hrmncss,
yet there Is nothing 10 convey an impress.
zion Of n bulli.h character, but ON the con.
trnry an impression obtains that the lonrs
are tired, and under very little additional
pressure the line of cost would sink with
tomc rapidity. The demand to-day gave ovi.
denre ~ hcinr mainly composed OF order
20 cover portion II them coming frun
Wall street and this Is not considered ih,
result Of any particular degree II fright bal
rather NJ simple move tor safety repre-
scniing desire 10 secure engagements ~
soon ~ a margin develops, In order to clean
up b,forc the holidays. There has ais,
been considerable doing In the Nny
Of swapping and exchanging, ~
which the transfer from January
into February figured rather most promi
nently. The supply camc from me- pnr,icu
lar division OF operators, but simply M
pearcd ODE letting go Of contracts f.
which the chances were considered poor
The influences were received b. great 90
tent from abroad, who're liycrpool, ihougl
making a temporary effort 10 stincn ol
what was considered better financial advice
from the Continent, did not In the mali
show much of an encouraging character, bu
The principal factor was undoubtedly IN
conditions prevailing NJ the South TIL
port rccipis hrc morc generally commcnc
ing 10 rcaliz, the predictions II the bean
who are also aided by other slightly uncS
pccicd elements. The most prominent q
these Il n disposition In some srctions. bu
particularly In Texas. Ia admit the cro
turning out better Than expected. a reduce
demand reported from both spinner an
exporter aud manifest growing desire 3
rcaliEc among huldcrs'