The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-09-12
Inc clenrlnr.houso report is as follows

1VfhnAN ENhNlN"' 0'VH ~ A''''l
. Money in good supply demand firm rate
sper cent
The clearinghouse report is rs follows;
Tuesday, September ll..... l1l,sN52 t1LNaM
Thus far this week. .,.,..." t06,sll0s iiHu511@
Same time last week.. bhhflN4A i,.. 49,
Correspondence time 1881. lgl619ig iOi ,1tm
Corresponding time lSs6~ a'4Nts' l''''''''
DOMESTIC EXCHANGE.
New York and eastern demand, par buy
ing. $50 per $1,000 premium selling. New
Orleans, 81 discount buying, par selling
Cincinnati. ST. Louis and Louisville demand,
par buying, 81 per 81 600 premium selling.
The local cotton market closed quiet Sales
$50 bales. OF which 200 10 exporters and the
remainder 10 spinncrs.
In the local cotton market spots closed
quiet. low middling and middling advancing
&c. other grades unchanged; sales 30 bales
10 exporters The New Orleans market
closed quiet and steady, with futures quiet
and steady at n decline Of 10 points.
Liverpool closed steady; demand fair iut-
urcs quiet at decline OF to 2 points. Man.
chester cloths aud yarns firm but little
doing. New York spots are quiet declined
l-l6o; futures went oiT2 TO points,
Hubbard Price & Co., say: "The decline
today, following yesterdays transactions,
may be largely credited 10 the liquidation Of
the long interest accumulated before the re-
ccipt Of the bureaus report Of condition.
Crop reports received by mail today are OF q
continued character having been written In
the midst Of the rainy weather that iortu-
nately, has now ceased These reports are
NANNY from the Atlantic States, while from
the Mississippi valley and Texas moro en-
couraring reports were received aud the sem
tincnt OF traders find expression In the
lower prices recorded. Scarcity Of freight
room 10 foreign ports is acting as powerful
factor towards preventing better feeling
upon the near positions, which should be
hrmer, In view Of the actual need Of cotton
In Europe before the lst Of October. Tclc-
graphic communication with the south has
been badly interrupted, aud the light re-
ceipts arriving nj the ports find many buy
ers 10 iill previous sales for September ship
mcnt. Values should improve while the
movement continues 20 light
C.. T. Hunt & Co, Of this city, have issued
Acotion circular. In which they say rs 10 the
growing crop and course Of prices during the
coming season: Regarding the situation
nom our standpoint, We must confess that
the outlook Is more promising than II has
been for years, and that regardless Of the
size Of the crop, We expect to see prices
maintain q better average for the season than
has existed since lSsl-s2 Trade In all
departments Is good, splnncrs' stocks are
light and the visible supply is smaller than
at any period since the American war
Added 10 these facts the consumption at
tanned by the world during recent years, Is |
something enormous and the demand |
which depleted stocks must create Tor several |
mon,hs 90 come, ought 10 keep cotton at a |
good healthy price A glance at the figures |
will show that last year an American
crop Of 10000 was used up,
and the reserve supply Of the
world cncruachcl upon to the extent Of
Si0.0oJ bales The growing crop too, l.
late, receipts being almost approximately
small. and Liverpool with stock oi only
i7O,UoD bales American cotton, aud compar-
atycy none ahuat, will almost be surely
piuchcd for cotton ere relief comes one
lesson taught by the experience Of last year
should not be forgotten, aud that IL,
that consumption has more than kept
pace with production, aud that commencing
the season with les cotton than knoen at
any similar period ior twenty year,, u will
require u crop 81 s,ONUiO American cotton
10 give the world a comfortable supply. In
deed this season reminds me- very much 81
is7oso. The visible supply of cotton on III
Of September, is5p. ran down 10 pi8Us
bales, aud the crop ior ls7osO was the big
gcst on record by 5000 bales. Tho de.
mand, created by depleted stocks and good
trade absorbed Il oil aud pushed spots In
New York o. i3lf cents, and August futures
10 IS cents. This year We commence
the season with a visible supply $4,000
les than In is5n, aud consumption IL at
least 20 per cent LANCER than nj that time
To one, Therefore, who makes an unbiased
comparison Of the existent facts and figures.
the deduction 10 be arrived al Is unmistaka
BILE The world Is prone 20 run TO extremes
and the world IL nearly always mistaken. +,
excmpliiy. n the world could have beer
turc Of 100000 crop last September
prices would probably have touched III,
lowest point ON r,corl, yet the result ha
proven that 5.uoo,upo was not enough. la,
The Cor0a World and agricultural burca,
p''h CORRECT ~ hcit representations o.
garling The crop We should have viincssc,
aooiion famine, aud famine prices, Vet a
the time they were made and believed a.
GSoooOo was regarded asa iair supply. au
prices advanced les, than cent from N
lowest hguW attained. should the pIckir
season be good aud frost late. however. v
expect TO see the crop fully a. large or larr
than last year"