The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-03-08

q Wednesday, March u lSSS.s 3,u,lpl W S,1lt ~
Thus far this week. lA11tiD ~ :vay.l %
torrespondinE time ISL. i,SoSSi o. sAi,so q
rorrcspondlng time iss6.. wi,SS ~ 2i,'o -
EXCHANGE
New York and cities north and cast, on
demand, y discount buying. New York
md principal cities north aud east sight 8
1isount buying New Orleans, 81 discount
buying.
Selling Rates--On New York, y percent
premium on sums below $1,000, $50 per
1900 premium on sums of 81 900 or more;
IN Cincinnati, st. Louis or Louisville, $50
Der 81 900 premium on all sums; on New Or
cans. $3.50 per 81 600 on all sums. Prime
commercial sterling, As2@ls2H
Nothing OF interest occurred at the stock
.all board meeting today, and prices OF local
ecurities remain unchanged.
The local cotton market closed easy and
over to sell. Sales, 200 bales.
At New Orleans spots closed nominal,
buyers aud sellers apart, with futures steady
and OF O 10 u points Liverpool was quoted
business good at unchanged prices, with
inturcs easy and of points New York
pots were easy aud declined Lice, and rs
10 the future market Hubbard, Price a. Co.,
IN their circular. sayg THE result Of the
days session on the exchange has not con-
iributed toward stondier feeling or higher
prices. Tho opening report from Liverpool
showed lack of strength In consequences Of
,miavonble political rnmors and the an
nouncement Of some important commercial
failures ON the continent. At the opening
this market was sustained by the execution
Of some large buying orders, but II
noon commenced 10 sag, and broke
rapidly upon the announcement of another
inlurc among the Traders here, and the close
was at the lowest Of the day, while the UNI
aertonc showed considerable uncasness. Re-
eeipis continue full, but this feature Is at tho
moment without any practical bearing on
The course of The speculation. and operators
arc waiting the final outcome Of the recent
large liquidation, which, II is feared, was
more disastrous In rs consequence Than was
NJ first apparent On the other hand there
l. great confidence felt In the value Of cotton
by people not Of the usual speculative Gle
fncni ana we believe that these prices OF
certificate arr being largely absorbed by
those who are likely oprovc tenacious hold
err of them"
Another dispatch from New York states
that 'just rs The cotton brokers had become
accustomed 10 further decline Of points
IN The market this morning. their attention
was attracted 20 the bulletin board where
the superintendent Of the exchange was
posting the failure Of Cunningham. 4 Russell.
II was generally known that this firm was
doisfs bushes. Tor the big southern operator,
n 4.Et. II.
contracts DiSon's, Kings and Garrison's fail.
urs were due but Il wa thought yesterday
that Cunningham & Russell had bravcd the
storm. Mr. Russell said this afternoon that
The liabilities were In the ncighboihOod Of
tSo0oo OF 10000"
The sales Of oil at the Consolidated er-
change today were the largest on record, and
IN the nrst ten minutes amounted 20 over
1000, coo barrels, AZ the Stock exchange the
only business transacted was the settling up
Of old accounts, the members having appar-
emily satisfied themselves that dealing In oil
was accompanied by too many sharp cor
ncrs, and they are disposed 20 Jet pipe cert.
hcatss alone. II IL said that the great deal
enginecwdby the Standard oil company and
the rroduoers' union Is approaching i,s eul-
minaiion. There was immense excitement
also at PittsBhrE and over i,coo.0Oo barrels
changed hands the frt hour. The market
opened strong at iO0 advanced 90 1901 the
highest point reached, reacted 10 e6E and
down 20 OK. The shorts were pretty badly
squeezed, but they were all we'll covered and
their sheets passed through the clearing
safcly. No failures occurred.
f.. A. New Orleans the sugar movement 4
Hight, market quiet, with prices gcnsrall,
unchanged though In buyers favor tn,
assortment Of offerings IL fair. Molassc
eonilnucs steady and unchanged Clean rio,
4 quiet with no hcw feature 90 IMPORT price
arc steady al recent declines aud sellers ap
pear unwilling 10 allow further concessions
Rough rice Is dull and easy.
The New York Commercial BHiiefia In ID
review Of the grocery trade SAYS mo i'm
portant changes today except a furthc
break IN tho speculative market for coffee b
The local market continues steady. Con-
has advanced 1 10 20. Poultry Il frmor. will
1--we aud dressed turkeys higher. Egg un
rhadgcd
The Manchester Guardian IN H. CONNER
tiai article, says Tuesday, business VA
unusually light Prices were oocaslonall,
irregular The prevailing tone WIS steal
tellen fuF the most part were not incline,
10 press sales. The eastern trade wa, yer,
much hRmpcrcd by the recent fall In cs
shangc and the difficulty Of raising price,
In India and the Ear east 10 oompensat,
prden for the minor foreign markets are ma
plentiful. Buying for Italy has ncnrl
scased, owing 10 the enforcement Of the rct
fral tahf on March 1, aud trade with IN
United States Is temporarily checked ln Gu
sequence OF the possible reduction Of IN
import duties should the Democratic tart
bill be adopted. The weakness IN ooltol
Monday probably encouraged buyers b
bold aloof There has been a small mis-
aclianeous inquiry for export yarns, bu
'aica have been scaniy since merchants NJ
+ = a0rr-Spared TO purchase even moderated,
Except NJ ungetiable lower rates The clot
departments are quiet; there has been only
mail amount Of buying and but little II
1uiryi India and China staples arc In mo,
,ascs sufficiently we'll under contract 10 IN
rent the necessity Of making concession
Printing cloths are dull. Common NAL,
- -irc offered more freely. There (. amo
sctiye business In the homo trade house
hncy and white goods cloths and Mcs
nns and oiher heavy goods are quiet vii
dow demand"
Tsx.fxe pkr@ bacon e0f A.. 49,. =.