The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1889-06-26
DOMESTIC EXCHANGE.

DOMENIlI EANhANti.
Buying-New York and Eastern points,
demand par Eastern points, sight, lilo dis
count; Cincinnati, St. Louis, Louisville and
Chicago, par New Orleans, = discount
selling-Ncw York and Eastern points,
s.. so premium; Cincinnati St. Louis, Louis
Vile aud Chicago, l-lO promiumi New Or
leans par
Bids were opened today on new school
bonds, but all bids were rejected by the
School Board on grounds that tho premium
offered was not sufficient The bonds Issued
for new school buildings, etc, amount to
100000, bearing per cent interest The
Board will again advertise for bids ere long.
Henry Clcws & Co. in their weekly finan-
cial circular say; stock speculation has
been fairly active, and in some cases still
higher prices have been attained. The up
ward movement was irregular and is likely
TO continue so II maintained. The market
now contains two opposing parties and each
advance or decline meets with opposition
from the other side the result being more
frequent fluctuations. Beyond the facts noted
above there are few changes in the general
conditions and the bulls still remain in CON
troll Of the situation. Concerning the future
OF the Market much depends upon early
developments II these continue favorable
we may expect a continuation OF the pres
ent rise but in their absence we can only
advise prudence, as the improvement In the
general situation has already been pretty
literally reflected in stocks. Buying on pro.
nounced breaks and selling on rallies is the
safest course for speculative operation at this
time. Before the close Of this century oycr
5000 10000 Of railroad bonds will mature,
and new bonds having long time to run
and bearing lower rate OF interest will be
issued 10 take mp the expiring bonds We
recommend buy ing any OF the good first
mortgage bonds which will net above per
cent ON the Investment"
The local cotton market remains quiet as
usual and without sales today. The Liver
pool spot market closed quiet with futures
steady, old months up point aud new crop
months unchanged. At Manchester the de-
mand for cloths was limited while yarns
were fiat New Orleans spots are quiet with
quotations revised; certain grades advanced
lice and futures fell on 2 10 points on
near positions and remain unchanged on
distant months The New York spot market
Is quiet with futures dull at a decline OF 10
3points.
Hubbard. Price & Co. say. Cotton adyiccs
from Europe are again unchanged In chario.
ter and shade easier az the close, though
private cables report rather better inquiry
In Manchester for goods. Tho contest be
tween spinncr aud spectators usual at this
season Of the year, when the latter are
attempting 10 force prices up, contn-
uoa In Liverpool, where the cotton
traders are strong believers In the sue.
cess q the operators for an advance
In prices. Here the market remains dull,
the advance Of short interest preventing
the bulls from maintaining any advantage
they may gain. Notices ON July contracts
are due tomorrow and considerable curiosity
Il felt as 10 who will tender cotton when the
desirable grades arc selling freely on the
tables. The trouble with the contract
market Is that quantity Of last years carly
picked cotton was brought here and rendered
and has never been taken away. This cot
ton Il not yet wanted aud therefore weighs
on the market. II any differences Ia the
classification exist the inspection fund
promptly meets all claims; 20 far they have
been iniiniiesimal."
The Committee on Information and Sta.
tistics Of the Galveston Cotton Exchange has
gathered information ON the production Of
cotton In Texas In ISIS 10 aud ON the pres
cnt cordilion Of the growing crop In the
State. The report b. the Exchange Is dated
June rs, and 4 based on 30 replies repre-.
senting all Of the ifO ooiton-frowing ooun.
tics u the state. The returns make the cstl.
mattel yield 81 the late crop (isss.,1l ns fol
lows. North Texas 81 counties, fisVo bales;
West Texas - counties. iiu.wst routt.
west Texas, p counties 2in.OO0 the Coast,
lpoountirs i2ooo. East Texas, ~ counties.
1850, aud GENITAL Texas, - counties, 527,
on or a total Tor the State CtO counticsl Of
i,iJsOuO bales
sleek. aud Honda