The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-09-13


wednesday, September 70. slg5g7d.57 shSiiiS |
Thus far this wcek....,...,- IOltsND i,.nnott' !
Same time last week.. SlO,NhNu 1.,It,,55 az |
Corresponding time, 1857. bNllllV iIolf'S,,, ~
Corresponding time, 1856. oo'i'@oo i'''''-'
DOMESTIC EXCHANGE.
New York and eastern demand, par buy
ing. $50 per s., 600 premium selling new
Orleans, g. discount buying, par selling !
Cincinnati, ST. Louis and Louisville demand
par buying. 81 per $1,000 premium selling
The local GOTTEN market remains quiet
sales, SOObalcs, all to spinncrs. Spots closed
steady at New Orleans, and futures steady
septcmbcr went up points remaining
months unchanged.
AT Liverpool spots closed FIRM demand
good. futures easy, September up . points.
September and October and October and
November advanced point
The New York spot market was steady,
with futures steady at n decline OF points
for September and points for October re-
manning months went up point.
Hubbard, Price 4 Co. say: "rhc market
has been peculiar one today aud though
Liverpool showed firm tone this morning
at an advance Of from to points, the APP
prehcnsion Of September notices prevented
any responsive feeling here. The situation
at the moment is quiet High rates OF
freight and the great scarcity OF freight room
have placed a practical embargo on the ship
ment of cotton, aud the large number Of
September notices which have been i~ued
today have been Stunned by everyone IN
consequence. The decline Ia the present
months deliveries has been only partially
reflected In the later positions, though the
market has shown great stcadincss IN the
face Of rather trying situations Had II been
practical 10 find an outlet for the cotton now
changing hands, involuntary advantage
would have been taken Of the good European
demand 10 considerably diminish the stock
ut this port. and one large firm who had cal
culatod to receive 1900 bales for export
will now have either to abandon the project
or incur another months storage. The Ly-
crpool price for September is about points
up showing the readiness with which the
cotton would be- taken there Crop reports
as received by mail continue unfayoublc
from many sections, and the quality OF re-
cc.pts continues inferior"
The Commercial Buiistin of the latest date
states that "a certain degree 81 pcrplcNiiy
undoubtedly continues regarding September
a. Il il not rs yet clear how many Of last
months complications wcr brought over
and have yet TO be adjusted. The iluctuniion,
Therefore, is of a somewhat crrntiC character
and not always In accord with the general
market. Ia the later months there Is no
evidence Of any special deal at the moment,
the trading being mainly ON the crop
chances, both ~ to quantity and rupidity uf
movement into market Upon the latter
score there N n pretty general conclusion
that arrivals will be late, and there has been
enough "uninyornbc conditions news I,
carry an impression that IN spots the crol
was almost ruined That In conjunction
with very good consumptiyo trade aud th'
prominence given the possibility 81 scriou'
drawbacks 10 quick marketing Of cotton
through the extreme cost Of bagging, ha'
kept matters rather bullish Some Of th'
trade. however, commence to think the meat
has been pretty we'll extracted from present
features and that II may be well Ia move .
little moro carefully Ia the matter Of calcu
lating Tor rise"
The Manchester Guardian q the 18th, init
commercial article. says
yesterdays experience does not cncouI
hgc producers. Many had hoped for bcti,
price. and other. ior n larger demand at "
days full rates, but they were disarPnntc,
In "a few cases little advance was realize,
but the progress Of business was trininl
India merchants possess but few orlcn
Dealers have purchased freely Tor some tim
past. aud therefore arr not inclined Tor fui
thcr operations Although quotations ar
only slightly advanced, the China dcnan
for the moment l. exceedingly poor
small miscellaneous business for the mino
foreign and home outlets has been done a
previous prices The incrincss Of the clotl
trudc In view of the mi-c In cotton Is tend
ing greatly 10 lessen production, aud man
looms have been stopped at Burnley, Nclsol
and elsewhere Export yarns are IN pou
demand The transactions are not up 10 ID
average. The strong position oi sollcr an
the upward tendency II quotations doubt
lcss rcsthcthusinc.s, bat the normal deman
T. weak Cloth proiuccr, looking at the Ia
sufficient margin II profit seem determine
~ obtain higher price. or Ia lessen the pr
duCtiun. Sometimes manufacturers have
supply ut low priced yarn ~ arrive 10
covering orl,r ur Ia provide Tor furth,
talcs. A. 10 rule, how,,cf, they must eth,
reduce tho production or accumula
stocks"