The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1889-04-12

DuMlhllI EANhANNh"
Buying-Now York and Eastern points
demand, par; Eastern points, sight, Is dis
count Cincinnati, St. Louis, Louisville and
Chicago, lilo discount; New Orleans, l-S dis
count.
selling-New York and Eastern points,
$3.50 premium Cincinnati, St. Louis, Louis
willie and Chicago, l-iO premium New Or
leans, par.
Discussing the situation in Wall street.
Clews q Co., in their financial circular, say
"Thc critical period Of the money market
has been passed, aud period OF ease may
now be anticipated in fact, money promises
10 become a drug during the summer
months unless n revival of speculation sets
in The supply Of money Is now ample for
oil requirements-so ample, indeed, rs TO
have become strong element OF imitation.
Surveying the whole situation, we incline to
n hopeful view of the future, and believe
that good stocks bought ON the declines will
yield substantial profits TO their lfcfd-fs.
The local cotton market closed firm with
sales of 1900 bales, OF which l,s0O to ox'
porters and 200 to spinners. There Is O
strong demand for good cotton at figures far
above quotations, but there Is nothing but
low grades 10 the market
on and after April 10 the spot market will
close on Saturdays at ~ o'clock noon, until
Scptombcrl.
At New Orleans spots closed firm today
quotations revised and advanced 20 Il
3-l6c. futures steady, old crop months adj
vanccd IA to 10 points, new crop months
TO points
Al Liverpool spots closed quiet, moderat
inquiry. futures strong at an advance of 4
points.
New York spots advanced sc, closin
steady, futures steady, old crop months nd
yancng II to 10 points, new crop months ~
. 10 Gpoints.
Port receipts today were G15J bales, o
1851 bales Ia excess Of receipts ON same day
last year.
Hubbard, Price 4 Co, In their cotton cir
oular, say "Ncw York on the opening
showed the presence OF supporting ord m
upon April 10 accumulate all the notices
which might be issued today, and this soon
developed into strength, when receipts of tlic
official cable from Liverpool caused u lively
demand, which carried prices TO the highcs
points touched this season. This deman,
seems 20 have come from yesterdays sale
and lew Of the remaining shorts, who ar,
now largely covered. Receipts at the port
are fully three times larger than last year
and at Bombay they are about 1000 less thar
last year, while the shipments Ia date from
that port arc 10000 bales In excess Of las
seasons shipments for corresponding
period At 1000 for August quito an amount
of cotton appeared for sale Ny leading bull
houses, and the market naturally fell back
few points, but closed steady with bette
feeling after the Official session."
A New York review OF the cotton situS
ton states that "tho continued free receipt
- have bcen rather Disappointing TO the bu
element, while the small stocks hero an
free sales OF spot. have IN a measure damp
oncd the arlor Of the bears, and both side
seem inclined 10 hold OIL aud await furthe
developments. The preparations for sprinl
planting have been hurried along. aided b.,
warm weather. The demand for spot cottol
CONTINUES, and very desirable lots will brinl
more than quotations. The Southern maI
kcts have been more active, with prices gen
orally Lice TO ,sc higher"