The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-11-27
FINANCE AND COMMERCE.
MONEY 8 PER GENT, NEW YORK EX'
CHANGE PAR SELLING.
Cotton Quiet-Middling Cotton, o7-leo
Sales Today, 2,5oo Bales - The
General Market is Steady - Meats
Steady.
APPEAL OrrlcR,

APPEAL OFFICE,
MONDAY EVENING, Nov 20 lsss
Money in good demand at per cent, with
ample supply at the banks for Legitimate &C.
commodations.
Monday, November 26...,.s jy7,p61 80 Sl-3s'i 5s
Same time last woOk....... tl'.l2l n Joy ~ ~
Corresponding time lssi..a ttu1 ll sr'll '9
Corresponding tiue 1885,. ".n, az 10 Nito' od
DOMESTIC EXCHANGE.
New York and Eastern demand s. dis
count buying sight 50 discount buying par
selling. New Orleans - d count buying
$lpremium selling, Cincinnati, ST. Louisiana
louisville, demand 81 buying, par selling
Henry Clcws & Co. say, in circular OF
the 9Th instauG
"Thc prospect Of gold shipments is begin.
ming TO look more serious, and several mill-
ions are not unlikely TO be sent out Of the
country before long The cloarcst evidence
Of tins Is the present high rate aud strength
besides OF the sterling exchange market
Bankers sight bills today have been at
$3.50, and very firm at that II is profitable
to ship gold at that figure. The shipment
Of cotton is our most reliable commodity TO
send forward at this season OF the year, and
has heretofore formed the basis OF largo
portion Of the bills Of exchange which bank.
ers draw against The falling on Of the cx.
ports Of cotton up 10 date for the past year
has been quite large as also have been the
receipts OF cotton, which the following
figures show:
Bales
Receipts last ycar IN all u3
Receipts ibis year ut all points .. ,...,.2 900 %
Exports from AL points h,i year 90, %
Exports nom all poinis this d2l 4i
"Thc difference In the value between tho
exports this year aud last Of cotton is equal
To fi,OO,oO0, the equivalent Of which In
American money would be nearly $1,000
600. This difference therefore will have TO
be provided for In some way or other
Without We therefore, ship wheat or other
products very soon, We will not unlikely
ship 100000 or 100000 Of 10 Il. The
Bank OF England rate stll remains per
cent, while the bank rate OF CIV York T.
only2 per cont THERE'S balance OF cx-
chance against ~ now, as Tor somr ume pa /
our imports have been in excess Of our cx.
port, witch has created this adverse copdi.
ton"
The local cotton market closed quiet, ~ u
decline Of Ice, sales. 900 bales and 200 To-
exporters and $500 b. .pinner. Receipts
today ran up 10 lGi5O bales. and were l,22l
bales greater than the rJcyiptI az New on.
leans. I'm The afternoon cotton sold for l.iGc
io, than quotations
40 New Oacaus spots closed easy and on
lice on middliuE Other grades unchanged,
futures steady AZ q decline OF points.
Liverpool spots closed quiet limited iu.
quiry midllng marked down i-lGli future
declined to Z points, closing barely steady
The New York market closed steady aud
declined 1916 futures quiet aud steady aud
of 10 poin's. salr, last week not pre-.
y.ously reported, isl5 bales io exporters md
4ji bale a. spinncn.
owing io o. heavy storm prevailing Fast,
the daily port aud interior movement wa.
not received Ny the Cotton EXchaugc--wlrcl
dpEn.
The Commercial BaHT1 u Saturday d's
cusscs Tho mafkctus follows "rhc narrow
ucss of the market is s'ill indicated by thC
moderate line Of fluctuations ON values,
showing that 10 Is dniculi Il not impos bic
to swing matters With much force he either
dlociion. Both .idc1 claim to have shown
q ri.u tolay. hnt on the whole the principle
advantage Was with thc buyer. taking the
average run oi costs iu COMPARISON With the
final rates ruling li thr Gloss ui the proceed
mg market At tnr outset thor, was quito D
htuc pressure 10 realize. especially on thi'
month. seeing which buyers left the markc
alone until thy supply was spll out the Re-
suit showing points ou on November 1n,
39i on the lu,or options. Considerable DIS
Hppointm 'nt over The comparatively inml
tenor of foreign ndyicci, poo doubt addiu.
10 the easing OIL tendency. Finding
however. that there WI, no. general inclina
ton 10 scll. the .amc supporting buying De-
mand that las made itsrlf prominent dur
ing tie greater portion of the week, came 10
tni took care IT the market. the result o
which was 90 me Il 10 pretty nearly la,
evenings figures again, though at the clos,
net decline oi 28S points was ruling
Among snmc ~ the accounts received from
abroad were limitations II u sjrunrcr holl
ins oil policy among spinner, and ihis, IL
conjunction with somewhat fuller interior
movement furnished ammunition Tor thos,
Inclined 10 the bear side The opposition
however. found quito a noutmlizlng In
huruc- through the ryoipt OF private nd
vice. rl-Hiing that Northern Texas WoulD
be entirely ''afg ui cotton by the cud ~ pt
ctmurr AMI hi, uuqursiiyni'ly Carrie
some effect, though 70 was in other qunIior
ollimcd thai Flpi balance would hc tluu,
In the cAors1 of production in tho suuth.r
section oi The same State. Tho deal he spol
wm much doe same az usual and un prir.
no change ioos place. southern mnkc
Indicate more ufs.rc 10 work of cotton"
-
nonds Hnh A.sshs