The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-08-03

DOMESTIC EXCHANGE.

New York and eastern demand, par buy
ing, 81 per $1,000 premium selling New
Orleans, SO discount buying, 81 premium
selling. Cincinnati st. Louis and Louis
VILE, demand par buying, $3.50 per 1000
premium selling
Increasing clcaranccs indicate q largely in.
crcasing business thus far this week. The local
cotton market closed steady. Sales unim.
portant New Orleans closed nominal, with
futures steady; August of points, aud re-
naming months advanced o to points The
Liverpool market is firm, prices stitTcning u
little. Futures steady at an advance of 10
2points. New York spots are steady, and
futures firm, August advancing points aud
the remaining months Gto points
Hubbard, Price & Co.'S cotton circular
SAYS: 'Undcr an increase 81 orders to cover
August contracts, our market opened to q
points better for that month and held the
advance 10 noon time, but showed no fresh
developments calculated toinspire positive
tone After the most pressing demand was
satisfied, prices declined about 8 points,
which, however was fully recovered at the
close. The distant positions opening a
fraction above last nights prices improved
10 \ points Ia value, the advance being
based on buying orders from Liverpool"
The New York Commercial BplsiiH of lat
est date states that reports continue 10 cir
culato ~ to the amount Of cotton coming In
this direction, the south gcttin. credit for
developing n great many small lots, and
Europe still said Ia have 10, OOOdll ,OD bales
ready with n portion started The latter,
however, does not show amy margin at ruling
rates and finds q balance In over 4, go bales
reported sold here Tor export during the
week and now for the first time recorded.
A. u matter Of fact few have any clear opin.
ion, AMI II Is only the bnldcst who venture
new ideas either way. The new crop has
scarcely changed in value and is without
any new point apparcntly, most 81 the adj
vices averaging good as 10 conditions, aud
the inclination rather hvorirg selling. but
the ventures few In the absence Of anything
decisive regarding August
Ellison. Ia his latest circular so.rrs 20 ~.
gard the cotton situation during the remain.
der OF ibe year ~ one Of considerable
tiPnsih. This i. of ,ourso. more particu.
f"AaH NaNN ~ h'iN w aaNINlift wv NNNlfH lif
gives In support ~ his Arguments referring /
to the European supply aud consumption. |
lie estimates the imports into Euiopo dur.
ing the three mouths. luly 10 September In. |
elusive, ut 6sS.Wn hates. nruurst 1iG.O oO |
bales w iSsl w ~" same period. Adding
10 this Import the stocks at Futop.an port,
and mills on luus w. $4,000 and sG2, go
bales respectively, b. figures total supply
OF 2isi,u)1 bales, against an available sup.
ply June ~ 1871, of 2s28OOn bales Fsii.
mating the consumption Tor the balance ~
The year NJ the ruling rate, which Is 400
bales larger per week than last year lac esti
mates a ioAl consumption during the
three month, IT i.SttOJO halc,, against I,
5naooO bales lAst year, which would leave q
stock on September 30 IsSs, Of ouly GJG. 900
bale, against 10000 bales last year. = de.
cline oi about 10000 bales Leaving oil
this amount 10000 bales To the mil, the
port stock ON the date mentioned would
amount io uuly 'sG ga bales. against si2..
non hsles LAST year. while showing Ia his
riculut that the situation IA strong. Mt.
Ellison dscfcs all talk about scarcity. ~,
ny' TO talk Of scarcity with middnug up.
lAi.ds at . 10 would he childish