The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-09-21
APPEAL OFFICE,
TnrrRsnAY EyrNINa. Sent. 20. 1855

[
THURSDAY EVENING, Sept ~, 1855.
Nothing new in the money market rates
firm at s per cent. The banks supply is
equal to all necessary requirements demand
steady.
The clearinghouse report is as follows
Cleanliness Balances
Thursday. September ~, Sl6a55s2 s G5;'",.-So
Thus far this wcck..,..'. oS3Wsy ~, NJ
Same time last week. ~, i9Gia @3i cai OF
Corresponding time, 1851. l,0il,dEW @iG3i Z,
Correspondents time, loso.- 5'N"hh.' i'-'''''''
DOMESTIC EXCHANGE.
New York and eastern demand, y dis
count buying, = premium selling. New
Orleans, y discount buying, par selling.
Cincinnati. 81. Louis and Louisville demand,
par buying. 81 per 81 600 premium selling.
The local cotton market closed quiet
Sales 32j bales, Of which 40 TO exporters aud
l75 bales 10 spinnerS.
At New Orleans spots closed easy, ordi-
nary. good ordinary and low middling de-
cluing l.lGc; higher grades unchanged Fut-
urcs steady and of 6points. The Liverpool
market closed steady, demand fair and of
lied. Futures easy September advanced
points; remaining months unchanged.
New York spots were quiet at n decline of
Lice Futures barely steady; September
declined points remaining months OFF, 10
spoints.
Hubbard, Price & Co. say the tone OF
Liverpool rs reported this morning was firm,
but the feeling there was toward the close
on offerings of cotton from the south. On
foreign selling orders our market declined,
and q number OF stop orders being reached,
further decline Ia values resulted, and the
lowest prices were touched toward the lat
Ter part Of the day. A slight rally then ear,
rcd the market upward, but the close was
tame, and prices have lost ~ a result Of To-
days transactions from 10 q points. II rs
believed that o. largo amount Of long cotton
bought on the recent advance, has been
liquidatod, but there still remain consider
able quantity 10 como out. The high freight
tariff Is having IT, natural effect on prices
A select committee Of the board Of dircc-
tors of the New Orleans Cotton exchange
was recently appointed to consider the qucs.
ton Of finding suitable substitute for jutc
bagrng, and the Investigation resulted ~
follows In the shape Of resolutions ut
was resolved that it would bc acceptable to
the buyers 20 receive cotton covered with
any material Of equal or lighter weight than
the regular iutc hardng provided such Gov
oring attended, suitable protection and was
durable aud acceptable a. insurance com
panics. But owing 10 the existing laws u
trade buyers cannot make any allowance for
inrc. "Somc Of the buyers interviewed
claimed that Il was prpostcrous 10 expect
that the buyer should make nn allowance
for the light weight of cotton hnr,inr, as the
same tarc would be- deducted In Liverpool as
IN the case of iutc covered bales, hence the
buycr would be- out II pocket In protecting
the planter Othcr. deemed the whole pro
jcci q scheme Of the planters who were
squeezed by a corner In iutc harpinE To sad.
die the burden on other shoulders. Despite
the action the buyers were forced IN take,
there was no objection made 10 the intrinsic
Nufth IT the new cotton hngginW ON the con.
irnry, many thought that eventually Liver
pool could be- brought To make an allowance
In iarc, which would remove all present dii.
fcultIes