The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1889-06-20
DOMESTIC EXCHANGE.

DOMESTIC ENHANCE.
Buying-New York aud Eastern points,
demand, par, Eastern points, sight, ITO dis
count Cincinnati, ST. Louis, Louisville and
Chicago, par; New Orleans, = discount
Selling-Now York and Eastern points
$3.50 premium; Cincinnati, St Louis, Louis
Vile and Chicago, 40 prcmiumi New Or
leans, par
Clews 4 Co., In their weekly financial cir
cular, say OF the stock market The market
is now in control Of the bull chques and APP
parcntly at their mercy, so that we may ex-
pect sharp fluctuations and irregularities,
their ability to mark up prices having had
frequent examples OF late. The propnety
OF further advance in some Of these stocks
Is decidedly questionable, the more so be.
cause the movement has not been general,
anumber OF meritorious stocks having been
entirely neglected. We can only advise
increasing caution to those who buy for a
rise; for in a market as artificial as the pres
ent Is becoming Il is often the unexpected
that Is first TO happen. Buying should only
be INDUCED in ON the pronounced breaks,
and profit should be taken on good rallies"
The local cotton market continues quiet
and without sales today At Liverpool
spots are firm and futures steady at an adj.
vance OF TO 2 points. The New Orleans
market closed quiet with futures steady
and advanced . TO 3 points. New York spots
are firm and futures steady, at / to point,
advance.
Hubbard, Price 4 Co. say; ''Forcgr
cotton ndyiccs this morning, although bet
ter than yesterdays close were n disappoint'
mcnt and the market opened with sellers al
few points advance aud prices were car.
ried down 10 last evenings close. The re-.
nowod demand for spot cotton however, aud
the taking OF some contracts by exporters
and spinncrs, led 20 an improved demand
and the market advanced. closing at the best
prices OF the day. About 1000 bales in all
have been taken for shipment to Europe,
and the cagcrncss Of exporters 10 purchase
shows a demand on the other side on the
basis OF present prices for contracts; sharp
covering also tended TO advance prices. The
houses representing Liverpool accounts have
been the most prominent In leading IN the
advance, and from this the inference has
been drawn that their intention Is 10 ship
their holdings Of contract deliveries from
this market"
Tho Manchester Guardian IN rs CONNER
olal article Of the 10th, says
Tho market Is inactive. Few sellers have
done an average business. Bombay tclc'
grams report favorable rains. This is a most
hopeful feature In the Indian trade. There
have been fair inquiries for numerous classc,
oi goods for most Indian ports but few Of
them have led 10 actual brsisvss. The In
! quiry for China Is trivial. There Is mod
crate demand az c.irrcnt rates for othc
directions although some orlcrs for the col
onics. South Auicdcan aud other smaller
foreign mar,.cts are steadily received. The
lo=.g trade Is buying lightly, The sales Of
export yarns have been liEht. The Eastern
trade g. mostly neglected. A few small
Orders have been executed for the continent
and the Mediterranean. The cloth trade u
fiat India merchants have orlcn fol
shiuinFs. iaconcits. dhootlcs aud the hnei
qualities both for shipment gray and fol
bleaching bu, the figures offered arc gcnor
ally insufficient Prices rule fairly steady
Occasionally manufacturers are disposed 4
yield n irihc. Common 20 medium printer
and finishing cloths are steady"