The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-01-31
FINANCE AND COMMERCE.
MONEY 9 PER CENT. NEW YORK
EXCHANGE Ia PREM. SELLING.
Cotton Quiet and Steady-Middling Cot
ton, o i3-lec.-Sales Today, 1900
Bales-The Tone of the General Mar
ket Quiet-Meats Quiet.
ArPEAL OFFICE,

MONDAY EVENING, jan 80, 1888
There is no change in the money market
rates continue firm at s per cent The de-
mand for loans is met by q fair supply from
the banks.
The clearinghouse report IS as follows
Monday, Jan. 20, lsss~."~..slt7,siS y sisl@ %
ZANE ne Ia. WT nc isS. s5 o az % , i IS
Corresponding time, 1856. 3l3,5S7 "a G,iJi W
EXCHANGE.
New York and cities north and east, on
demand = discount buying. New York and
principal cities north and east, sight, =
discount buying.
Selling Ratcs-.0n New York, per cent.
premium on sums below $1,000, $50 per
5000 premium on sums of $1,000 or more
on Cincinnati, st. Louis or Louisville, $50
per s. 900 premium on all sums; on New Or
leans, $50 per 81 600 on all sums.
Local securities continue dull, and the
market is without activity. Bids and offer
ings dragged at the stock call board meeting
today, and no sales were recorded. Quota
tions are unchanged.
The local cotton market closed quiet and
steady, with sales /, 500 bales New York
spots closed firm, with futures as follows;
C. l.. Greene 4 Co. say: "The market con-
tinucs to show an exhausted capacity, and
the day has been very well maintained
Rates gained point, on the leading months,
with the close fairly steady"
New Orleans spots are quiet and firm,
with futures very dull and unchanged.
Liverpool continues dull, with prices gcner-
ally in buyers favor, with futures of
point.
The Cotton World, In reply 10 an inquiry
as 10 how IL accounted for the continuance
of large receipts II its estimate Of the prob
able outtun of the cotton crop Of iss7-ss is
10 prove correct, and when, how and where
are we 10 lose the 500, 600 bales between now
and the lst OF September next, in order TO
overcome the present excess Of $4,000 bales,
and TO bring the crop to about the Cotton
Worlds estimate, replies ns follows: THAT
even 10 large am amount rs that referred
10 can be lost is fully proven by facts afford.
ell by comparisons Of the seasons of lss2.s3
and lSs]-si, when the figures were, lss2-s3,
amount in sight January lst, 4,I2l,Ol5, and
crop, 09i9756 iSSl-SI, amount In sight
January Isl, i,35S,35 and crop 6,7l3, 200
bales, hoaboye showing conclusivcly that in
receipt, subsequent 10 that date, the differ.
enoc was nolcss than ,l73, $50 bales"
In reply 10 q telegram from Secretary Hes
ter, Of the New Orleans Cotton exchange,
asking, Edo you expect 10 issue report and
estimate on cotton crop on February 10,
a. usual'' Mr. Dodge, statistician Of agri-
cultural bureau at Washington, answered as
follows. "a report ON proportion Of cotton
marketed is due February TO-" As
90 railroad bills " laden, the judiciary
committee of Congress has a bill In charge
looking toward the protection Of holders II
bill. Of hdiug signed hy railroad agents. II
will he remembered that such a measure
was suggested by the last convention Of
the National Cotton exchange held nt
White sulphur Springs, aud bills were In.
PRODUCED, hut the deadlock caused by the
Morrison tarii agitation prevented any ac-
ton. The various cotton exchanges might
aid in the passage of the above measure by
calling the attention of the Representatives
from their State to the same. As the law
now stands a railroad bill Of lading Is only
prima facie evidence OF the receipt Of prop.
erty by the railroad company, and Il can be
shown even In the face Of a formal receipt
by duly sworn accredited agent Of the road
that no property came into the possession Of
the road even though the hill may have
passed into the hands Of an innocent third
party.
A. to the grocery trade the New York
Commercial BHil,iiu remarks that 80 far ~
natural and legitimate trading T. concerned
very little general animation can be- found
In the lending staple groceries As We have
previously advised, the small jobbcn aud
wholesale grocen are doing n fair aud
rather increasing dlsiributiyc trade, with
some reflection found upon the street, and
indications prevailing favorable 10 the belief
OF u further growth, but al the moment bust
mes huciualcs and fails 10 solidiiy into Q
full. steady aud stimulating volume. The
conditions Of IN niayomblc character under
which transportation at present labors 4,
probably q serious drawback 90 trade with
many sections, aud until overcome are
likely TO prevent buyers from investigating
In any very large quantity Of stock. Cofc,
g. again weak under continuous hammcrng
from the speculative element, aud other
goods nominally unchanged"
The local markets remain comparatively
unchanged. Coffee declined today sole
according 10 grade, aud eggs advanced
slightly. Other articles unchanged