The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-11-08

DOMESTIC EXCHANGE
New York and eastern demand, So dis
count buying; sight, So discount buying,
par selling New Orleans, sc discount
buying, par selling, Cincinnati, st. Louis
and Louisville demand 81 buying, par sell
ing
The London Economisi, OF October q, says:
awhile the bank directors have maintained
their rate at per cent, the market rate for
best bill, has reccdCd 10 . per cent, so that
we have now the almost, il not altogether
unparalleled disparity Of per cent between
the market and the bank rates The worst
Of this position is that It inacts u great
hardship upon traders, and especially the
smaller traders throughout the country.
Even the London banks, while beating down
the rates for bills Of the best class, ohurso
bank rate for other trade paper and ask y
per cent above bank rate for ovcfdraits.'
The local cotton market closed steady nj
&c advance Today. Sales, 5000 bales, or
1900 20 exporters and 1000 to spinncrs.
At New Orleans spots closed firm aud mp
Lice, with futures steady az I 20 D points nd
vance. Liverpool closed firm, demand good,
middling up i.lGd; futures quiet and steady,
aud advanced points, New York spots arr
STEADY and up Lice futures steady at to
points advance.
Tho Commercial Bldirin OF latest date says
~ 20 the cotton market However the
market for spot cotton indicates an under.
current Of stability with no pressure To sell
the actual Huf while the necessities Of
spinncr keep them interested inquircr, II
not energetic buyers, they holding Oft as
much ns possible for a better buying basis.
Whether they win get IL or not will be die.
tatcd 10y the proportions Of the crop, The
present premiums with August contracts
scllurat over TO- ic) discount G7j0,0 OJbalc
crop. crop of over 5,o0l, 900 bales would
mean what the consumer. are looking for,
lower prices; O crop les, than that would not
with premiums as they arol mean much u
any advance ON present figures. The popu.
lar estimate points 10 u crop OF I0oom
bales"
The Mnei,.'rr Glani'ai Of the 7th inst
IN ils commercial article, says: "Most dc.
partmcnts nIe steady. There are many or
dcrs OF importance Tor India and China in the
hands Of merchants aud a few for other out
lets, bat the difference In prices offered aud
those sylcn willing 10 accept docs not np.
pear 10 be- lc,scniug. Transactions Of maeui.
tudc are rare There wa. sufficient busiucs.
IN smaller quantities IN most Of the depart
mcnts to redeem the day yesterday from
idlcncs.. still prorrcV- was poor Export.
crs TO Calcutta aud the Tar Est find the
straits increased by the advanced freight
quotations. The rates 60 Bombay have not
been raised, but there u a combination oi
ship owner. which limits the Tonnage Ia that
place aud prevents o. diversion from Cal.
cuita. The demand Tor the smaller foreign
markets and fIr the home trade continues Of
" retail sort Manufacturers still complain
OF the nlrfowncss OF their margin. The
running IT mills on shor, time continues
to prevail Some looms remain idle, ospcci.
ally IN the Burnley district and the weaving
ccniCrs south of Manchester There II little
busin,ss in export yarns. Prices are firm.
Manufacturers bought chiefly Tor carly de.
livery. There was les inquiry Tor forward
deliveries. Cloth squic,. Manufactures
have progressed moderately. Tho India
inquiry u unusually small, being mostly
confined 10 medium aud low medium shirt
ings. Some fair order Tor China staples IN,
IN hand, but merchants are only able 10 pu
them through In small quantities. beet
printing cloths are mostly dull. The sale,
Of common and medium were unlmporiani,
Though them wcrr fairly umcrous trans
actions In colorcd woven goods, the market
was very quiet. Heavy goods are steady
and the transactions are moderate