The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-12-31

No changes wcr, made today ~ the quota
ton lists. Amount Of grain In store at the
elevators Corn, $3.50 bushels, oats, 6s,Oi7
bushels wheat lSs bushels.
Az New Orleans sugar u quiet aud In fair
demand. Moiassc- Is steady and In fair de-
mand. Clean rice Is firm aud In better de.
mand. rough rice steady.
AZ New York coffee spcculaiiuns do not
appear 10 have much force at the moment
aud contracts oascd oil somewhat
DRAIN AND PROVISIONS
James n. stephens of Chicago. TO ogden
Fon,aino Memphis Tho writer's friends
are fully aware that Ice has never been Ia
sympathy with the bull side Of wheat ON
this crop, above poc for cash wheat In chit
cago based ON the laws OF supply aud de
mnnd, hence they will not question the
statement that the break Of Yesterday was
NO surprise. pt least 10 him, but u regarded
~ the natural result II an over bullod mar.
kct Daring this period Of excitement we
have repeated the folly Of too many years
aud have helped other countries TO sell n
considerable portion Of their surplus nj lii.
cral prices, while we arr left with our sur.
plus ON hand a. market ~ best we eau. In
fact we arr In the soup With the large
stoc ~ ~ -four We have on hand aud n visible
much too large Tor this age Of mpid Transit
heavy stocks in the hands Of millcrs, coun-
try grain dealers aud farmers, public we'll
supplied with -four to provide against the
famine. which MAS promised, the trade Is
In an uncomfortable position, and the bulls
nnd no encouragement left except the posi-.
bility " damage 10 the winter wheat with.
out this last II seems likely that prices will
drag aud droop, With occasional speculative
spurts. for the remainder OF the season, aud
that when the 'Gfcat nouuH up comes they
will hnd values mot what they worc, but
what they should have been" The distant
futures are even nov selling ni prices en-
iircly unwarn,nicd 10y the prospect cf a fair
crop and II would seem mihcr early In ,hc
SEASON 20 barter In disaster barring manip
ulaiion. I expect 10 see more money lost
bnying wheat below 81 than has already
been lot on purchases hboyc thai figure II
will probably be dillicult. howcyc 10 brak
1 the MAY optiunbclov ~ fur sumo time aud We
will likely have many reactions irum shurt'
covering II docs not take statistics 20 show
that this has been a iar'c aud good corr
crop. the schnul bows all know thsi, and ih'
school manns' have sold Il short aloni
With the rst n the crowd. The short scllcl
becomes very valuable buyer later ON, anc
purchaFs made al about rgcseut prices car
likely be disposshot advaniagcously 10 TIL
class ~ cnslo,uen-io say uoildug Of a good
demand frpm other qi,artcn
The hog crop has however been the grcal
field for the sleih,ician of late bat u is q
incl that while ,his rcinisman hos boon busy
With h. ngro the farmer II Tho vid,
West have bccn carillly nursing the greal
array Of hog born this mos, favorable fnll
for w The hor-cole Of the fuiur they 80
tIai ~ th'sc pig would be a gool rlac, N
put somc ~ iliclr olgyap o,m--in fact th,
possibility Of ~ pork, $40 r,b. aud tSs'
lard Tor ncxs nlmp,r became tangible; an,
no matter what fvclIs ,he speculative wayci
may have, a viii hc well 10 keep this ~
mind. AZ the present relative values be
tween hog anil basnlny. these PIG could b,
nlsed pfol'tabiy even y New iork up tow
hotei.' '.f /. ~. "a