The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-12-30

No changes were made today IN the quo'a
ton lists. Amount 81 grain In store at the
elevators Corn. 81. so bashels, oats. s.. .Oi7
bushels wheat. 1888 bushels
AZ New Orleans sugar Is quiet aud In fair
demand. Mola--c- 8, steady AMI 10 fair de-
mnnd. Clean rice T. Grm aud In better de.
mand; rough rice steady.
At New York coffee spcculaiions do not
appear to have much force at the moment.
aud contracts oascd Oh somewhat
GRAIN AND PROVISIONS
James u. stephens, OF Chicago to ogden
Foniainc, Memphis. 'Thc writer's friends
are fully aware that he has never been ln
sympathy with the bull side Of wheat ON
this crop, above 0oc for cash wheat In Chi.
cago, based on the laws Of supply aud de.
mand, hence they will not question the
statement that the break Of yesterday was
no surprise, % least 10 him, bot i REGARDED
as the natural result Il az over bullcd mar.
kct During this period Of ex ,iicment We
have repeated thc folly Of too many years
and have helped other countries 10 cell n
considerable portion u their surplus At 10.
cml prices. while We are LETT with our sur.
plus on hand to market rs best We can. la
fact we are In the soup with the large
stocks u hour We have on hand aud visible
much TOO large for this age Of rapid transit.
heavy stocks IN the hands Of milcrs. ooun.
try grain dealers and farmers a public well
supplied with -four To provide against the
famine, which was promised, the trade h
in an uncomfortable position. and the bulls
find no encouragement left except the posi-.
biliiy Of damage Ia the winter wheat with.
out this lat Il seems likely that prices will
drag aud druop, with occasional speculative
spurts Tor The remainder Of the season. and
that when tlic 'grcai round MP comes thcy
will Una values mot what they were. but
what they shoull have been" The distant
futures are even now selling at price. en-.
tircly unwarranicd by the prospect Of fair
crop, and u would seem mthor early In the
season 70 barlcrin disaster. Barring manip.
ulation, expect 10 see more money lost
buying wheat below 81 than has already
bccn lost on purchases above that figure. II
will probably be diihcult however. 10 break
the May option. below u for some time and We
will likely have many reactions FROM short,
covering. u docs not take siatisilcs 10 show
that this has been large aud good corn
crop the school boys all know that and the |
school marms" have sold Il short along /
with tlio rosi Of the crowd. The short seller 4
becomes a very valuable buyer later on, and /
purchases made NJ about present prices. can /
likely be disposed Of advantagconsy 10 this |
nlnss Of customers TO ,ay nothing Of good /
demand from other quarters.
The hog crophas however been the great
icld for the s,alistioinn 81 late. but II II a
Iaci that while this gentleman hos been busy
with his figures the farmers Of the vide
West have been carefully nursing the great
irmy Of hogs bora this most favorable an,
'or IN the horoscope u the future they scc
hat In those plgs would be- a COOL place ~
pui some Of their cheap o,n-in fact. the
possibility Of - pork, $50 ribs md $3.50
ard Tor next summer became tangible aud
10 matter what swells the speculative waves
nay have, Il viii be well 10 keep this In
nind. AZ Tho present relative values hc.
wccn hog and hainlny, these pigs could be-
uisod probably even AZ New York uptown
iutnf l