The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1889-01-19
DOMESTIC ECHANGE.


Buying-New York aud Eastern points
demand lilo discount; Eastern points, sight
Is discount Cincinnati, St. Louis, Louis
willie and Chicago, l-l0 discount; New Or
leans, y discount
Selling-Now York and Eastern points,
$3.50 premium, Cincinnati ST. Louis, Louis
willie and Chicago, l-i0 premiums New Or
leans, par.
In the local market today cotton sold at
&c above quotations. Everything offered
was about taken and the market closed firm.
Sales, $500 bales. or 1900 to exporters and
700 to spinncrs Sales for the week, q, 500
bales or 1850 TO exporters and $3.50 to
spinners New Orleans closed firm, with
futures firm at an advance of to ? points.
The Liverpool market closed active, prices
hardening, with middling up l.lGd, futures
firm and advanced . points. Manchester
yarns and cloths quoted firm; demand fair
New York spots are steady and futures
steady and up points. The port receipts
amounted TO 3O,3ii bales, against 1853 bales
for corresponding time last season, an in
crease Of i2,77l bales.
r. @. Dun a Co.'s weekly review Of trade
says; "Tho practical effects of the agree.
ment OF the railroad presidents and bankers
begin 10 be better understood. II IL seen
that an advance In rates has already checked
for the time the distribution of products.
that is, II increases the one difficulty which
had becloudcd an horizon otherwise clear.
The immediate effect in the iron market Is a
weakening in prices, aud Southern irons are
still offered nt 50c less than similar Eastern
grades, though the latter are about 5Oc lower
than week ago for foundry grades. Steel
rails can be had at prices equal % S27 At
mill. Tho coal market is also dropping, and
there il complaint that rates are cut By indi-
yidual operators.
The copper market Is rendered stagnant
by the report that the syndicate, holding
$4,000 tons January l, will try To get up a
metal bank to assume $1,000 tons and con
tracts Tor two years 10 come The tin market
IL dull, but lead is firm. Low prices for boots
and shoes are explained by the announce
mcnt that existing shops could supply iO0.
OO0,00o people having Ia reduce the output
20 the wants Of CiD0,Uc0. The movement
OF dry goods Is greatly retarded. The money
markets nj substantially all points reporting
A. well supplied. The light demand at pres
cnt fcr raw wool or cotton does not prevent
hrmncss Of prices.
The wheat speculation has rgnin tended
downward. the exports irum Atlantic ports
for six weeks past having been phcnomc.
nally small
Wheat fell e'.c. corn, i.c, and oats '.c
durns the week. pork declined e5c per bar
rel, aud lard 2,c per iuo pounds.
The butter market was dcmomliErd and b
loWcr Ees. i'll ac. aud leather has slight,
declined. Coffee and cotton arr each -,
stronger with moderate sales
The Treasury has been able Ia put out
nearly ~ much money ~ IL has taken IN
during the past week. having increased IL,
cnsh on hand only S2uQOOo Also the large
exports oi merchandise, which show nj New
York for two weeks an increase IT 80 per
cent over last year, lessen the prospect oi
export aud rates Tor money nrc lower. a.
though foreign exchange IL tribe higher
than a week ago. The market for stocks ha,
not been as much stronger ~ was expected
since the meeting Of the presidents. On th,
contrary while the prospect that the agree
mcnt may be- signed IL considered good r.
Election seems a. lessen confidence In III
practical efficiency
The business failures during the last sever
days number $50 a. against - last wccL
aud 3s7 the week previous For the CORE
spending week last year the figures wcr,
ailu