The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-06-18
DOMESTIC rXCnANGE.


DOMESTIC EXCHANGE.
New York and eastern demand, par buy
Ing, s. per $1,000, premium selling. New
Orleans, 50 discount buying II premium
selling. Cincinnati, St. Louis and Louis.
willie demand par buying, $3.50 per 81, 600
premium selling
Local securities nrc firm at quotations but
no sales have been made recently. To-
The weekly report OF the clearinghouse
shows a decrease in clcarings for the week of
s23l, Coz. 40 as compared with last week, and
an increase Of $3.50, 2iS.i2 ms compared with
corresponding time last year
The local cotton market closed steady
Sales, 400 bales, equally divided between ex.
portcrs and spinnors.
New Orleans spots closed quiet and steady
with futures dull and unchanged
Liverpool closed quiet without quotablc
change in prices with futures advanced
point, closing steady.
The New York market il steady at an ad.
vance Of l-lGc in all grades Futures closed
steady with an advance Of to 3 points on
the old crop months, new crop unchanged.
The Commercial B1liliin has the following
10 say Of the certificate market; whatever
may be said on either side runs In about the
old form the bulish idea being based upon
the gradual absorbing OF the desirable supply
into consumptiyc outlets, domestic and for
egn the supposed control Of August by
leading longs and the impression that short
interest IS increasing; while in opposition is
the view that there has been entirely too
much talk about the August squeeze for any
one 20 get caught seriously on the short side
and that Just about the time when holders
will be looking for demand the discovery
Il likely 10 be made that no one cares much
about getting cotton and that the longs are
likely 10 have ns much ON hand MS possible.
All accounts from the now crop retain the
former excellent features and furnish no
ground as yet upon which 20 build houyant
hopes. 10 the courtesy of Mcssr. Hubbard
Price & Co. We are indebted for Elison's
figures as follows
is,s 1857.
Balos Bales.
Weekly consumption, Great britain 5i.cl1 5I.OlO
Weekly consumption. Continent. 200 69oo)
Toiii...............................-iiGooO 1890
Stock 10 sg!uncu hauds. Great BRIT.
Stocks In spinner hands. Conunent-5o2ooO 1900
..,...,,....N2V,0 Wow
A question OF much interest, says the
Commercial Britain. has been raised on the
Cotton exchange by petition, put IN cir.
culatlon ON Saturday last fora change In
the rule TO make the minimum huctuation
s.iCo Of cent per pound instead Of lilo Of
cent II the change should be made every
nuciuation would amount 10 ti5 on each 100
bales bought or sold, instead Of g.. Thus,
without paying any more 10 the broker, the
Spectator, with The same ups and downs Of
the market, would win or lose three times as
much a. at present
The petition has, 20 far, been signed by
twcnty-cight members Of the exchange, but
10 success IL largely problcmatical rs what
appears 10 be u fall half Of the active mem
bcnhip think that th, suggested increase OF
the huciuaiion minimum would reduce their
carnings, aud consequently are vigorously
opposed TO the plan. The main argument In
favor Of the proposed change is that II would
papularzc speculation Ia cotton by making
IL inexpensive as compared with ventures In
stocks or produce.
Hubbard Price & Co = circular says: ''rhc
contract market was rather narrow one and
while prices Tor the summer months have
shown gnin Of , points Tor the day, there
appears to be nothing significant In that be-
yond tmid feeling amongst few Of the
traders ON the short side who came In a.
buyers 10 cover"