The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-06-17
DOMESTIC EXCHANGE.


DOMESTIC EXCHANGE.
New York and eastern demand, par buy
ing, 50 per $1,000 premium selling New
Orleans, 50 discount buying, 81 premium
selling. Cincinnati st. Louis and Louis
vile, demand par buying, $3.50 per 81, 600
premium selling.
Local securities are firm at quotations but
no sales have been made recently.
The weekly report Of tho clearinghouse
shows decrease in clcarings for the week of
1924 ,G07.42 as compared with last week, and
an increase of 1896, 24s.42 as compared with
corresponding time last year.
The local cotton market closed steady.
Sales, 400 bales equally divided between ex-
porters aud spinners.
New Orleans spots closed quiet and steady
with futures dull and unchanged.
Liverpool closed quiet without quotable
change in prices, with futures advanced 1
point closing steady.
'1zThc New York market is steady at an ad-
vance OF Lice In all grades. Futures closed
steady with an advance Of 2 to points on
the old crop months new crop unchanged.
The Commercial Bulletin has the following
TO say of the certificate market; "whatever
may be said on either side runs IN about the
old form, the bullish idea being based upon
the gradual absorbing ofShc desirable supply
into consumptive outlets. domestic and for
cign, tho supposed control OF August by
leading longs, and tho impression that short
interest is increasing; while in opposition is
the view that there has been entirely too
much talk about the August squeeze Tor any
one to get caught seriously ON the short side,
and Tint Just about the time when holders
will be looking for demand the discovery
is likely TO DO made that no one cares much
about getting cotton, and that the longs are
likely to have as much on hand as possible.
All accounts from the new crop retain the
former excellent features and furnish no
ground a yet upon which 10 build bouyant
hopes. To the courtesy OF Messrs Hubbard.
Price d Co. we are indebted for Ellison's
figures as follows
1880. 1887.
Iales. Bals--
Weekly consumption. Great Britain. Hoo 5Iopo
weekly consumption. Contnent..... 1900 Gg,DO
Total. IN Ooo faa nfo
Stocks In srinners' hands. Great hit.
800 200 go on
Stocks in spinners hands, Continent 90 1900
$1,000 SD9OOO
A question Of much interest says the
Commercial Bulletin, has been raised ON the
Cotton exchange by petition, put IN cir.
culation ON Saturday last, for q change in
the rule TO make the minimum fluctuation
S-lOO OF cent per pound instead Of i-i00 OF
cent II the change should be made every
fuctuation would amount TO SIS on each 100
bales bought or sold, instead Of -. Thus.
without paying any moro TO the brpkcr, the
Spectator, with the same ups aud downs OF
the market, would win Or lose three times rs
much as at present
The petition has so far, been signed by
twcnty-eight members Of the exchange, but
its success Is largely problematical as what
appears 10 be full half OF the active NOM
bcrship think that the suggested increase Of
The fluctuation minimum would reduce their
earnings, and consequently are vigorously
opposed to the plan. The main argument In
favor Of the proposed change Is that Il would
papularizc speculation In cotton by making
II inexpensive as compared with ventures In
stocks or produce.
Hubbard, Price 4 Co. scirculnr saws: ''The
contract market was rather narrow one and
while prices for the summer months have
shown q gain OF , points for the day, there
appears TO he nothing significant In that he.
yond timid feeling amongst a few OF the
traders ON the short side who came In as
buyers TO cover"