The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1889-04-30
poNEsrIc EXCHANGE.

SorresPondins t a ISL. 1920 II Gl67s Is
Total April, lSs9... ........l07iLal9 81 3l2lGG3 10
Total,Apr lsSS..."....,..... s,SlslS o. 2lloWl 10
DOMESTIC EXCHANGE.
Buying-New York and Eastern points
demand par; Eastern points, sight 10 dis
count; Cincinnati, ST. Louis Louisville and
Chicago, l.l0 discount; New Orleans, Is dis
count.
Selling-New York and Eastern points,
$3.50 premium; Cincinnati, St Louis, Louis
willie and Chicago, l-lO Premium; New Or
leans par
but little is doing in local securities. Quo
tations are firm. The banks will be closed
tomorrow Tuesday, II being holiday.
In the local cotton market spots advanced
lice, middling being quoted at 1890.
lot OF 100 bales Of middling would sell for
from 4 to 3-l0c above quotations The Ex-
change will be closed Tuesday
holiday.
At New Orleans spots advanced l.i0c, clos.
ing firm, with futures also advanced. The
Exchange will be closed tomorrow Tues
dayl
Liverpool closed business moderate at free
l,r ices and at an advance Of i-lGd; futures
steady and up points.
The New York spot market closed firm
aud up lice with futures steady at an nd.
vance OF to points
The New York Cotton Exchange will be
closed tomorrow, Tuesday aud Wednesday,
May 1.
Hubbard, Price & Co say; "Our market
opened very firm at solo points advance, all
OF which was subsequently lost but after.
ward recovered, and the market closes at the
best prices Of the day. II our market had
been heavily short, the advance In Liverpool
would no doubt have caused a more radical
upward movement but the approach Of the
holiday had indnccd most OF the traders on
the bear side to cover their contracts as but
few operators cared 10 open fresh transac-
lions when the Exchange would be closed
for the coming holidays The Centennial
enthusiasm has been very great and trading
has been OF holiday character. Large sell
ing orders Of the new crop have been in the
markct oil day"
In his latest circular Mr. Ellison discusses
cotton trade prospects, with particular refer
cncc to the question Of American supplies,
as follows: THE forecasts given In our pre-.
yious reports have been fully confirmed by
the subsequent crop and market develop
mcnts. II Il not yet certain that the crop
will run much, u at ALL over 100000 bales,
while II Is certain that the sensational csti.
mates put forth In the winter months will |
not be reached Under the influence Of the |
exaggerated figures issued In November aud |
December many spinncrs aud manufacturers |
opomicd on the basis Of a 7,5OoOOO crop and !
OF decline In prices 10 the ncighborhood Of |
Oh per pound hence the small stock of cot |
ton at the mills, and the large uncovered
contract. ON the books ut the end OF Dcccm-
her and hence also the recent sharp al.
vance In prices, brought about by the tardy
recognition Of the truth about the crop,
and by the consequent anxiety Of spin
ncrs and bear Spectators to cover their
short sales Of yarn aud cotton. As prices
since the opening Of the year have advanced 4
- per pound, pause and a slight reaction
would not be surprising but In view of the
strong position Of the article any decline of
importance will only be temporary, unless
spinncrs resort TO short time, or until the
market comes under the influence OF the
next crop. Estimates Of the American crop
mostly mngo from 100000 10 100000
nales 81 which Il, tas.OO0 bales were delivered
u the ports or direct 10 American spinncrs
during the seven months ended March n.
II the crop reaches 10000 bales there are
Gi2.O0o bales still 10 be- delivered from the
plantations and interior towns against 5Oo.-
CO.. last season. The stocks nj the ports are
5000 bales against 50S.OOO last year. so
that the supply available Tor the remaining
Eve months OF the season amounts 10 l, 81, 900
bales, against l. Az. 900 last season. Assuming
the stocks In the ports on Augusta To be the
same NJ at the close of the same month last
Ycar-is2OOO bales. the deliveries will be
1876 0o0 bales against .23i 600 last year, Of
which Europe may get GD.ooO bales. leaving
$1,000 Tor American spinners. against s0l,.
900 and Hl,O0O respectively last season
There were aloai for Europe ON March 81,
$4,000 bales, against $4,000 last year. which,
added 10 the prospective shipments u Co1
OO0 against sGl,U0o. gives i,o2lojO as the
probable Import into Europe for the ~.
maindcr oi the season ended September %,
against l, 10000 last year. but a. the actual
import last year Including shipments after
August - IN time to arrive before scptcm.
Der aol reached !. 10, 90 bales. the actual ar.
rivals this year may amount 10 iOj0.OO0
bales. From India the imports will prob.
ably reach about $4,000 bales (making about
i.iooulo Tor the scasonl AGAINST 5si,O last
year From miscellaneous sources We may
Tct about $1,000 bales, against 2pi, 600 last
year"