Many subjects of vital interest and importance have received the attention of the Chamber of Commerce since its organization, some of which it may not be improper to refer to at this time. Early in the past year numerous complaints were received from foreign and domestic Cotton buyers and manufacturers, that many of the bales sent from this market proved, upon inspection, to be “mixed-packed,” containing two or more qualities of the staple, and often intermixed with dust and sand. The manifest injury to the character and standing of our market which this state of affairs would necessarily occasion, if permitted to continue, caused the subject to be laid before the Chamber, and at the regular May meeting a committee of experienced Cotton dealers was appointed to prepare an address to the planting interest upon the subject, inviting their attention to the evil, with a view to its permanent eradication. The report of this committee— ably reviewing the subject in all its bearings, and recommending the proper course to be adopted in the future— was soon after submitted, ordered to be printed, and a large number of copies circulated throughout the country trading to Memphis. The high reputation sustained by Memphis Cottons during the past year for cleanliness and proper care in handling and packing, and the entire absence of the complaints above referred to, furnish substantial evidence that the action of the Chamber has not been without the happiest results.

Several modifications and alterations of the city laws, respecting inspections of liquors and merchandise; also in relation to tax on merchants' privileges, etc., were suggested by the Chamber, and adopted by the city government.

The financial troubles which began to oppress the country early in November, seemed imperatively to require a suspension of specie payment by the banks of Tennessee, in common with those of nearly every other commercial city and State in the country. The question came before the Chamber at its November meeting, a series of resolutions to the proper effect were proposed and adopted, and on the following day the banks of the city acquiesced in the movement, and were soon followed by those of the entire State. The wisdom of this policy has since been manifest to the satisfaction of all classes.

At the January meeting the passage of a “Stay Law” By the Legislature then in session, was made known. Resolutions depreciating the passage of such an act as unwise, Impolitic and unnecessary, were adopted, and as the Law was deemed retrospective in its operation and violative Existing contracts, our immediate representatives Were requested to use their best endeavors to secure its repeal. An odious measure, adopted by the same Legislature, Repealing a law of fifty years' standing, requiring Debts, to give security and pay 12 per cent. interest, was Condemned as oppressive and unjust to the debtor class. The “Stay Law” was not repealed, but was soon after Declared unconstitutional by the State Courts.

The attention of the Chamber was early in March directed To alleged discriminations against the trade of Memphis, practiced by the managers of the Mobile and Ohio Railroad. It was charged that an unfair policy was Pursued, tending to injure the trade of this city, and in Favor of Mobile, through a system of tariff charges which Were much higher on the northern end of the road, then Terminating in Corinth, than on the southern or Mobile End. A committee was appointed to inquire into the matter, And after a lengthy, patient, and impartial investigation, reported that the charges were in great part sustained. The subsequent action of the officers of the road has, we are pleased to State, been far less objectionable to Memphis people and Memphis interests.

Among other subjects considered at the July meeting Was that of the proper course to be adopted with reference to the disposition of the coming Cotton and Tobacco crops in view of the blockade and attending circumstances. Resolutions favoring the purchase of the crops referred to by the Government, to be paid for in Treasury notes or drafts, which notes or drafts, it was further recommended, be made a legal currency in the Confederate States, were presented by a committee of the Chamber and unanimously adopted. The resolutions set forth the advantages of such a course, both to the Government and the people— that the latter would then have a good, sound, and sufficient currency, equal, if not better, than the present bank note system—that the productive energies of the different States will be stimulated, and the Government enabled to borrow from the agricultural resources of her own people a sufficient amount of money to carry on the war; and at the same time bind all her citizens, by interests both patriotic and pecuniary, to uphold her indi nationality.

Many other subject of minor importance have engaged The attention of the Association at various times throughout The year, but space forbids reference to them in this Report.

The aggregates presented in the annexed table indicates The value of the Imports of Leading Articles into the city during the past year, and in connection with the value of Manufactured Articles produces in the city during the same period, furnish a pretty fair indication of the immense proportions which the annual trade of Memphis has assumed. It will be readily understood, that even with the records before us, it is a matter of extreme difficulty to obtain all the value of the thousand different branches of trade which go to make up a great commercial center like Memphis. We have, however, endeavored, in presenting the annexed recapitulation, to approximate as nearly the true value as possible, and with this view have consulted prominent dealers in each specific branch of trade. We feel safe in stating that in no instance has an over-estimate been made, while in many instances an increase might with propriety have been allowed. It is offered, therefore, as closely approximating correctness as regards all the articles named, and in this view may be considered as reliable basis for estimating the trade of the city in all its varied departments:

Amount and Value of Imports—Leading Articles— for past year. ARTICLES. Quantity. Value. Apples . . . . .barrels 20,629 $30,943 Alcohol. . . . . barrels 840 16,800 Agricultural Implements . . . . .No. 11,030 55 150 Ale and Beer . . . . .packages 20 179 110,984 Bagging . . . . .pieces 18 623 372,460 Beans. . . . . barrels 2,868 14 340 Boots and shoes. . . . . packages 29, 179 110,984 Butter. . . . . packages 4,101 123,030 Beef. . . . . barrels 4,331 56,242 Bacon. . . . . Casks 10,599 1,477,870 “. . . . . tierces 5,160 232,200 Cotton. . . . . bales 369,633 18,481,650 Corn. . . . . bushels 1,137546 682 527 Cotton Seed. . . . . sacks 175,308 70,124 Cotton Gins. . . . . No. 198 42 000 “ Yarns. . . . . bales 972 34,020 Cattle. . . . . No. 7 322 219 660 Crockery. . . . . hogsheads and crates 565 34,000 Clover Seed. . . . . barrels 677 16,900 Cement and Plaster. . . . . barrels 13 266 40 000 Cheese. . . . . boxes 18,448 73,800 Coal. . . . . bushels 1,065 725 639,400 Coffee. . . . . sacks 30 458 823,000 Dry-Goods. . . . . packages 25,064 4,012 800 Dried Fruit. . . . . sacks 9,064 20,000 “. . . . . barrels 554 2,400 Drugs. . . . . packages 4,826 305,000 Eggs. . . . . boxes 1,591 7,500 “. . . . . barrels 6,737 101 000 Furs. . . . . packages 2,675 50,000 Fish. . . . . packages 15,080 60 000 Furniture. . . . . packages 29,984 375 000 Gunnies. . . . . bales 784 23 500 Gunny Cloth. . . . . bales 1,625 49,000 Glass. . . . . boxes 8,345 25,000 Glassware. . . . . packages 6,631 40,000 Hay. . . . . bales 32,300 150 000 Carried Forward. . . . .   29,987,812

In our last annual statement of facts and figures, as disclosed by the monetary and financial operations of the year, we gave the records of a season of unexampled prosperity. The country had fully recovered from the disastrous effects of the great financial panic of 1857, and our young city had made vigorous and gigantic strides in her march to greatness and renown. The Exchange dealing of our bankers showed an aggregate for the year of over seventy-three millions of dollars. The year commencing on the 1st of September, 1860, opened brightly. Every material interest of our city was in the highest degree prosperous; and the business transactions of that month and the succeeding month of October were on a scale of magnitude and grandeur, which betokened a future of greater results than had ever been realized in our previous history. Money was in good supply. Exchanges on all points easy, and at the lowest rates of premium—being a par on New York and half per cent. premium on New Orleans. The cotton crop came forward early, the prices being highly remunerative. Holders were willing to meet the market, and bills drawn against shipments were readily negotiated up to the close of October.

As the Presidential election approached, a disposition was manifested to hold off, until the result should be known. Transactions were entered into with less confidence, and more scrutiny was given to the drawers and drawees of bills, than had been the case heretofore. With the election of Abraham Lincoln on the 6th of November, came disaster and trouble. The terrible effects of the triumph of the Abolition candidate were immediately felt. The life-blood of commercial transactions—confidence— was gone. The acceptances of the largest and most wealthy houses in New Orleans became immediately unsalable at any price, and distrust, suspicion, and loss of credit ruled the hour. A panic took possession of the people; deposits were hurriedly called for. Our banks were depleted of their coin, and so rapidly did one trouble tread upon the heels of another, that, on the 25th day of November, the banks of this State suspended specie payments. This measure was adopted in this city, not so much from necessity as in obedience to the earnest demands of the commercial and business community. The suspension did not, however, produce immediately the good effects which were looked for by those who urged it. For a time, the great staple was unsalable; the price declined to eight cents per pound, and he was a bold man who dared to take a bill based upon a shipment to any house, however high its previous standing. Many of the largest commission houses in New Orleans suspended before the end of November, and it is believed that over three hundred thousand dollars of the banking capital of our city was involved in these suspensions. As time wore on, and the necessities of commerce pressed upon the people, coupled with the conviction that the new Administration could not come into power for four months to come, small sales of cotton were made, the price of the staple gradually recovered, and during the balance of the season, or up to the 1st of April, the usual amount of business was done, and, upon the whole, at satisfactory prices to all concerned. With the month of April, came the war proclamation of the Lincoln Government. Then quickly followed the flight of those who had resided among us, having Northern connections and proclivities.

War, with all its attendant evils, is now upon us. All commercial intercourse with our enemy has ceased, and it becomes us to look our troubles square in the face, and to put forth all our energies to sustain our Government and carry it triumphantly through the struggles in which we are now engaged. The operations of our Government, while the war continues, must, from the nature of the se, have a controlling influence upon the commercial and business transactions of the country. The wise and statesmanlike policy has been adopted, of not selling a bale of cotton to any person or nation outside of the Southern Confederacy, until the independence of the Confederate States is acknowledged by the nation or people wishing to trade with us. Whether the policy which the Government is supposed to favor and entertain, of buying all the cotton, tobacco, etc., and issuing their Treasury notes in payment for the same, is what the exigencies of the country at this moment demand, cannot perhaps be satisfactorily demonstrated short of the test of experiment and trial. For the Government to become a factor upon a magnificent scale, with her hundreds of brokers and agents, interfering to a great extent with the regular pursuits of our commission merchants, would seem to be liable to many objections; but while our ports are closed against the export of our products, what can be done to praise the money with which to carry on the war, and at the same time best serve the wants and interests of the people? This is the question which presents itself for solution. In peaceful times, the basis of our foreign commerce is Cotton. This great Southern staple has for years furnished our Northern enemies the foundation of four-fifths of all their vast Exchange operations. So dependant have our Southern cities been upon the market of Wall Street that the price of our cotton, tobacco, etc., has been elevated or depressed, according to the ability of New York to take exchange on Europe. Let us now hope that this state of serfdom and vassalage is abolished forever, and that in the future our own means and resources shall be entirely and fully adequate to our necessities. When the fight is over and peace restored, we shall readily find new customers and new sources for the supply of our wants. Until that time arrives, we must depend entirely upon ourselves, and make good use of the means within our reach. In order to make our great staples available to us in time of war, and furnish a safe and always reliable foundation for the redemption of issues based upon them, it is proposed that the Government purchase and store at convenient points, distant from the seaboard, sufficient of the products of the Confederate States to meet the yearly expenses of the war—say one hundred and fifty millions of dollars—one-half this amount to be paid in Treasury notes, without interest; the other half to be paid in ten year Bonds, bearing eight per cent. interest. The mere possession of the cotton, etc., would be of no immediate advantage to the Government, nor would it enable her to discharge her obligations contracted in carrying on the war; but it is argued that by putting afloat seventy-five millions in Treasury notes, thus furnishing a currency which would be uniform in value throughout the Confederacy, it would make money plenty, of a kind which would be gladly received by all our people, and enable them to take in turn the Government bonds or loan as fast as the money might be required. It is presumed that the business of the Confederate States could not keep in circulation a larger amount than seventy-five million dollars in Treasury notes; and if the Treasury Department should have the power to reissue said notes, it would not be necessary to increase the amount, even should the war continue five years. When our ports shall be opened, and the cotton, etc. sent to market, the Government would immediately have the means of redeeming her Treasury notes in coin, or, what would be as good, in exchange on Europe. Evidently the expenses of the war must be met, by loans, by direct taxes, or by both. The issue of seventy-five millions of dollars in Treasury notes, without interest—as every dollar of interest would be that much loss to the Government, and besides would be an inducement to board them, and keep them from circulation—would enable the people to pay the taxes levied by the Government, and besides would have the effect to restrain an over issue of bank notes, which are now by their abundance depreciated fifteen per cent. The Confederate Treasury Notes would certainly rest upon a sure foundation, would have universal circulation within the Southern States, and would be every way acceptable to the people. The foregoing plan seems to meet with general favor among our bankers and capitalists, and is believed to be eminently worthy of experiment.

MEMPHIS AND CHARLESTON RAILROAD.—This road was originally projected as a great commercial artery between the Atlantic ocean and the Mississippi river, but in the present disrupted state of the country it has proven to be the strong arm of military defense, serving not only to unite the Southern Confederacy with iron bonds, but enabling the Government to unite its forces at any point desired, either on the Atlantic coast or in the Mississippi valley. As will be seen from tables and statements herewith presented, the road has increased its receipts during the past twelve months $206,025 93, or 12 1-2 per cent. Under the circumstances surrounding the country, this is most extraordinary. Its present enormous receipts of $1,841,122 60, on a capital cost of $7,000,000, is ample evidence that the stockholders made a wise investment; and the increase of the stock, upon its completion, of 60 per cent. upon what each stockholder actually paid in, together with the payment of 8 per cent. cash dividends, annually, shows that it is one of the paying institutions of the country, either in peace or war—whether in the old “Union” or in the Southern Confederacy. The stockholders have reason to congratulate themselves upon the prosperous condition of this great work—the fine condition of the road's machinery, and the quiet, systematic order that characterises its management. It is purely a great Southern enterprise, built by Southern capital and Southern men, and managed still by the same parties who built it, never having materially changed its organization— still retaining its old Board of Directors and officers, or others who have been promoted from the ranks of their operatives.

Comparative Statement of Receipts, Memphis and Charleston Railroad, for past three years. RECEIPTS 1859. 1860. 1861. From Passengers $751,923,01 $975,259,33 $1,022,595,48 “ Freights. . . . . 509,991,66 582,553,26 729,875,93 “ Mails. . . . . 55,175,00 55,176,00 54,064,59 “Ex. & rent 13,722,73 22,089,08 34,576,61 Total. . . . . $1,330,812,40 $1,635,096,67 $1,841,122,60

MEMPHIS AND OHIO RAILROAD.—This road forms an important link in the chain of railroads connecting Louisville, Memphis, and New Orleans, extending from Memphis to Paris, Tennessee, a distance of 130 miles. The road was completed 57 miles to Brownsville, in 1855; to Humboldt, 82 miles, in April, 1859, and to Paris, the northern terminus, May 11, 1860. In consequence of the Clarksville road not having been completed, direct communication was not made with Louisville until April 15, 1861, on which day the first through train left Memphis, and arrived in Louisville in twenty hours. The time has since been reduced to eighteen hours, and on the completion of the Tennessee river bridge, we are assured it will be still further reduced. The distance from Memphis to Louisville is—Memphis and Ohio Road, 130 miles; Memphis, Clarksville and Louisville Road, 83 miles, and Louisville and Nashville Road, 167 miles—total 380 miles. The short time that has elapsed since the opening of this route, and the partial prostration of trade in consequence of the war, precludes the formation of a correct estimate of the immense business that will be transacted by this road when peace shall again be restored. For the present we can only refer to the movements of freight over the road, as indicated by the statements elsewhere contained in this report. Each year's earnings of the road have evinced a decided increase over the preceding year. In 1860 the receipts exhibited an increase over 1859 of 67 per cent; and in 1861 over 1860 of 20 per cent., of which $59,061 was from passengers, $29,831 from freights, and $2,691 from mails—total increase $91,585. The total receipts of the past year embraced $362,595 33; operating expenses same time, $190,754 78; leaving as nett earnings, $171,840 55. The road, as we are informed, has cost about $3,300,000, including buildings and equipments. The financial condition of the road may be briefly stated: Tennessee bonds, maturing in 1895, '96, '97, '98, and '99, $1,493,000; Company 6 per cent. bonds, due in 1866, $97,000; Company income bonds, 10 per cent. due in 1870, $432,000—total funded debt, $2,022,00); floating debt, $278,000—total liabilities, $2,300,000. It will thus be seen that the cost of building and equipping the road exceeds the total liabilities of the Company by $1 000,000. Annexed we give a

Comparative Statement of Receipts, Memphis and Ohio Railroad, for past three years. RECEIPTS 1859. 1860. 1861. From Passengers. . . . . $71,574,65 $130,285,90 $189,347,55 From Freight. . . . . 76,976,85 136,816,84 166,647,78 From Mail. . . . . 1,273,40 3,908,58 6,600,00 From Express. . . . . 160,40 . . . . . . . . . . Total. . . . . $149,985,30 $271,010,32 $362,595,33

MISSISSIPPI AND TENNESSEE RAILROAD.—The completion of this important artery of commerce and travel opens up direct railroad communication with Grenada, Canton, Jackson and New Orleans, and reduces the time between Memphis and the latter point to twenty three hours. Twenty miles of the road on the southern end, from Oakland to Granada, were completed on the 31 of July, and the first through train left this city on the following day. The future prospects of the road are certainly of the most flattering character. Passing through one of the richest Cotton-growing regions of the South, and forming, as it does, an important part of the great Northern and Southern line of travel, its future operations can scarcely be otherwise than profitable to the public and remunerative to stockholders and others interested. The road is 99 miles in length, and is, for the most part, well built. There are thirteen “Howe Truss” bridges, and seven wrought iron, in spans of 25 and 30 feet, resting on solid and substantial approaches. The pressure of the times has prevented the erection of permanent depot buildings and machine shops at Memphis, which was wisely deferred until the track should be completed; yet this company does all its own repairs in temporary shops, attached to which is a car manufactory, which is turning out all the cars required by the road—some of them the finest to be found in the country. The business of the road during the past year, circumstances considered, has been excellent, the amount of freight shipped from this city especially showing a marked increase. The earnings of the road, in its various departments, will be seen from the following:

Comparative Statement of Receipts, Mississippi and Tennessee Railroad, for past three years. RECEIPTS 1859. 1860. 1861. From Passengers. . . . . $66,636,41 $74,528,06 $78,055,62 “ Freight. . . . . 104,704,76 140,525,79 134,650,60 “ Mail. . . . . 747,33 1,547,33 5,737,50 Exp's, rents, etc 4,425,00 4,425,00 1,800,02 Total. . . . . $176,513,50 $221,026,18 $220,333,74

MEMPHIS AND LITTLE ROCK RAILROAD.—The prospects of this Road are of a very flattering and gratifying character. Several months since the affairs of the Company passed into the hands of a new administration, under whose auspices the work of completion is being prosecuted with vigor. From official sources we learn that track-laying is progressing on both ends, that the grading is completed from Duvall's Bluff, on White river, to Little Rock, and some 18 miles of track laid down since April last, with the prospect of completion by the 1st November. Prior to this date it is expected that the bridge crossing the St. Francis will be completed, when we shall be in direct and uninterrupted communication with Little Rock. The heaviest portion of the grading of the intervening space of forty-five miles between Madison and Duvall's Bluff, has been performed; the iron for the entire road purchased, and sufficient amount delivered to complete the road from White river to Little Rock, as well as some fifteen miles on the secoond or middle division, leaving but thirty miles of iron for future delivery.

From the census returns of 1860, taken under the auspices of the United States Government, we collate the annexed table, showing the amount of capital at that time invested in manufacturing enterprises within the city limits, the value of raw material annually consumed and the moneyed value of productions:

ARTICLES. Amt. of Capital Invested. Val. Raw Material Consumed Val. Profits from Same. Doors, Sash, Blinds, Frames and Flooring. . . . . $158,000 $268,000 $635,000 S. eng., Cars & Wh'ls, Iron Fts, S.B. & Mis. C. . . . . 367,000 259,000 541,000 Flour and Corn Meal. . . . . 100 000 237,000 300,000 Brick (estimated at 5,000,000). . . . . 20,000 7,500 300,000 Carriages and Buggies. . . . . 75,500 33,500 143,101 Tin Ware, & Roofing, Gut'ring, Sh't Iron Wk. 33,000 81,600 142,000 Lumber (City Saw Mills) . . . . . 87,000 68,690 124,000 Furniture (Staple Articles) . . . . . 125,000 32,000 100,000 Wagons, Carts and Drays . . . . . 151,000 32,000 90,000 Soap, Lard Oil and Candles . . . . . 32,000 45 000 38,000 Boots and Shoes . . . . . 5,000 30,000 78,000 Gas (15 000,000 feet) . . . . . 200,000 20,520 63,800 Cotton Seed Oil . . . . . 102,000 30,600 61,060 Saddlery and Harness . . . . . 9,000 28,500 60,100 French Burr and Saw Mills . . . . . 28,000 15,000 59,000 Sheet Iron, Copper and Brass . . . . . 12,000 20,000 42,000 Boilers . . . . . 13,000 8,500 36,000 Agricultural and Ornamental Iron Work . . . . . 7,000 17,900 29,500 Lath . . . . . 8,000 13,500 27,250 Plantation Machinery . . . . . 10,000 10,000 20,000 Mineral Water . . . . . 5,250 4,960 19,900 Hats and Caps . . . . . 3,500 4,700 10,500 Total . . . . . $1,851,250 $1,269,224 $3,019,741

It should be borne in mind that these facts wereg athered during a period of general prosperity, and before any interest had felt the blighting influence of war. We have, therefore, at the expense of considerable trouble and labor, examined into the relative increase or decrease of business in the various departments above named, with the view of ascertaining to what extent the manufacturing classes have been affected by the extraordinary occurrences of the past year, and present the following as the result of our investigations: In the manufacture of doors, sash, blinds, etc., we find a decrease of from 45 to 50 per cent., in steam engines, cars, fronts and miscellaneous castings; a decrease of about 20 per cent.; in brick, of fully 50 per cent.; carriages and buggies, 30 per cent.; tin ware, roofing, boilers, agricultural and ornamental iron works, wagons and drays, lath, furniture, etc., a decrease of from 10 to 25 per cent.; while in flour and corn meal, cotton seed oil, soap, lard-oil and candles, saddlery, plantation machinery, tests, caps, and several articles of minor importance, there has been an increase varying from 20 to 60 per cent. Added to this, the peculiar circumstances of the times have given rise to the manufacture in our city of military goods and implements of war, on a most gigantic scale, and the increase in the value of productions thus created, will go far toward counterbalancing the loss sustained in otter departments, if indeed it does not exceed it. From official sources, we learn that during the past two or three months from twelve to fifteen hundred persons, male and female, have been actively engaged in the production of clothing, camp equippage, cartridges, percussion caps, knapsacks, cavalry equipments, etc., to say nothing of the very considerable force employed at the various foundries and machine shops in turning out field pieces of various descriptions, shot and shell, swords, knives, and warlike implements generally. The quantities and values of the articles thus produced cannot at this time, from obvious reasons, be stated, but, with a knowledge of the force thus employed, the reader will be able to draw his own conclusions. The facilities for manufacturing flour have been largely increased, and during the last two months the production has averaged 4,000 barrels per week—an amount never before equalled in any Southern city, but which may be considerably increased, should future circumstances seem to require it.

In glancing at the year's operations in this important branch of trade, we find a healthful and gratifying increase of business in both the wholesale and retail departments. It is in the wholesale department, however, in which this increase is mostly observable, and to that we desire more especially to direct attention. The commanding influence exerted by the jobbing trade in building up and establishing great commercial centres, is known and acknowledged by all, and hence we find that in our own city no one cause has tended more to the extension of our trade to remote regions, hitherto looking to other markets for supplies, the formation of now and profitable business connections, and the attracting of purchasers in the various walks of commerce, to this market, than our several wholesale dry goods and other jobbing houses. Although we must expect that under the new order of things the channels of trade will be more or less interrupted, yet the superior inducements which Memphis will always be able to present, will undoubtedly enable her not only to retain all her present immense trade, but to greatly extend it in the future. Country dealers have found it greatly to their advantage to purchase here, in preference to going East or North, and for various reasons,—among which may be mentioned the fact that he can purchase here precisely what his wants may require, and no more; by purchasing here he can do so oftener, and thus secure a quicker and more frequent return of investment; he pays our merchants in funds current in the section from which he may come, thereby saving the very considerable item of exchange; to say nothing of the saving in time and traveling expenses incident to a more lengthened journey, insurance, freights, interest on money, etc. In addition to this he finds our merchants supplied with stock selected with especial reference to his wants, and has no difficulty in making selections. Should his bill call for Boots, Shoes, Hats, Caps, Clothing, Hardware, Crockery, Groceries,—in fact, any of the staple articles of merchandise—he finds jobbing establishments from which he can as readily satisfy his wants as in the line of Dry Goods, and at prices amply repaying investment. With these and other advantages it will be seen that the increase in trade referred to is simply the result of superior inducements held out by our merchants, who find tha the vim and energy displayed in securing it is being well repaid. Three years ago our city contained but one jobbing Dry Goods house, and orders were rarely filled from remote or distant regions. Now we find four of those establishments, transacting an immense business, paving the way for others in the same line, as also in every other department, and extending our trade to Texas, Southern and Western Arkansas, Central and Southern Mississippi, throughout Alabama, into Georgia, East Tennessee and some sections of Virginia, Southern Missouri and the Southern portion of Kentucky.

No apprehensions need be entertained as to fall supplies. The energy and enterprise of our merchants is ample assurance that they will be secured—entire lines of goods will be kept as herotofore,—extensive wants catered to and supplied, and on terms as favorable as can be offered in any city of the country. Southern manufacturers, we are pleased to state, are already supplying a vast proportion of the goods sold in this market, and arrangements will ere long be completed for direct importations.

The first-class facilities offered in this city for the manufacture Of certain lines of clothing, have induced many of our jobbing houses to enter largely into the business, and the demand for all staple articles in the departments referred to, especially in this section, will hereafter be supplied from home manufacture.

The total receipts of Dry Goods into the city during the year (exclusive of deliveries by Adams Express, the amount of which cannot be ascertained) we find to be 25,064 packages.

The market for the past year opened on the 1st of September with a stock on hand of 1,709 bales, against 1,184 bales at the same date in 1859—60, and 2,671 bales in 1858—59. The receipt of new crop, to that date, comprised 275 bales, against 56 bales in 1859-60, and 25 bales in 1858-59. The first bale of the crop, now under review, reached the city on the 2d of August, against the 17th of August in 1859, and the 24th of August in the preceding year. It was from Bolivar county, Miss., classed Good Middling, and sold immediately on arrival at 12 1/2c. per lb. The first bale from Arkansas was received on the 8th of August—from Crittenden county—and the first from Tennessee—Fayette county—on the l0th following.

The average quality of the year's receipts has been much better than usual, the receipts up to the 1st of January being especially remarkable for uniform cleanliness and freedom from dust and sand, The staple, however, was perhaps a shade less desirable than the preceding crop, yet as a whole the yield was more acceptable than ever before in the history of the cotton culture of the country, and as a sequence, commanded more remunerative prices—the political disturbances of the times to the contrary notwithstanding—than were ever before realized by the planting community. For these auspicious results we are in great measure indebted to the unusually favorable character of the eather during the early part of the season, by which the successful gathering of the crop was greatly facilitated. Owing to the early maturing of the crop, picking commenced fully a fortnight earlier than usual, say about the middle of August, and with dry and salubrious weather, with but slight exceptions, from that date until the early part of January, planters had ample opportunity for securing their entire crops in the best possible condition. At the opening of the market, as above, prospects for the coming crop were in the main favorable, but the severe drouth of the two preceding months having materially hsHetied ttic estimated pre viously indulged in, of a yield exceeding the memorable one of 1859-60, holders were firm in their views and confident that full prices would be maintained. The steadily increasing wants of the human family, and the variety of new purposes for which Cotton and Cotton fabrics were required, indicated that a still larger amount would be wanted for consumption, and tended still further to assure dealers that the short crop then anticipated would meet a steady demand and remunerative prices. The full realization of these expectations proved them to have been well founded, for while the market during the year has experienced many and material fluctuations, an accurate comparison shows the average price paid for the staple to have been above that of any preceding year since 1850.

Before proceeding to a detailed review of the course of the market, it is proper to observe, that one of the most gratifying features in the course of the year's business has been the almost total absence in this market of anything like false or mixed packed bales of Cotton. The exceptions to this rule have been rare indeed, and the remark has been common among factors and brokors, that the staple has seldom reached this city in better condition, or exhibiting greater care on the part of planters in picking, handling and packing. It was thus that the high reputation of Memphis Cottons was first established, and it is thus only that it can be maintained.

At the opening of the season a fair demand was expressed, especially for good and clean Cottons, of the new crop, all offerings of which were taken at 10 1/4 @ 10 1/2c. for Middling. The market moved along through the month without special change, and prices in the meantime gradually stiffening. As the mouth progressed, the disastrous effects of the drouth were more apparent, find in addition to this, the boll-worm and fly were beginning to seriously affect the plant along the bottom lands of Mississippi and Arkansas. The receipts of the month were liberal, comprising 24,210 bales, against 15,677 in 1859. . . . . During the early part of October, operations were restricted by the stringent state of the money market, and the very great difficulty experienced in negotiating exchange, and prices ruled steady and unchanged. About the 20th, however, with a succession of favorable advices to hand from all the leading foreign and domestic markets, together with an easier tone in the money market, where sales of exchange, drawn against shipments, were more readily effected, now life and animation was infused into the trade, and the month closed with a buoyant market at an advance of 1/4 @ 1/2c. on all grades,—the sales of the closing week embracing fully 21,000 bales. Month's receipts, 76,755 bales, against 71,042 bales in 1859. . . . . The brisk speculative and manufacturing demand, observable at the close of October, continued during the first few days of November, the sales on the 2d embracing nearly 5000 bales, but as the day of the Presidential election approached, political excitement ran high, and commercial affairs were for the moment neglected. A decline of 1/4 @ 1/2c.was thus occasioned, from which the market failed to rally until the middle of February, and having, in the meantime, sank to 8c. for Middling. The receipts of November summed up 73,776 bales against 99,653 bales for the preceding year. The demand during the month was chiefly manufacturing—speculators, in view of the unsatisfactory condition of political affairs, very generally abstaining from operations. The sales were consequently limited to 21,000 bales. . . . . During the early part of the month of December, political affairs grew daily more complicated and embarrassing to financial matters and the regular course of exchange, and the Cotton market was very much depressed, Middling on the 7th being dull at 8c.—the lowest point of the season. Subsequently, how ever, political affairs began to wear a more cheerful aspect, the news from Europe became more encouraging, financial matters experienced some improvement, and by the 24th the market had returned to its wonted activity, and prices improved fully 2 1/4c. per lb. This improvement was maintained until the close of the month, when we quoted Middling at 10 @ 10 1/4c. Receipts fell off to 44,879 bales, against 55,563 in December 1859. . . . . A continuance. of favorable Liverpool advices, added to growing ease in financial circles, and more confidence among speculators as to the future stability of prices, early in January resulted in a further advance, placing quotations at the highest point of the season—the competition in the market, in the meantime, having been lively, and embracing buyers not only for Northern and Southern, but for di rect Liverpool and Manchester account. The aggregate business of the month was the largest of the season, embracing 76,000 bales, the sales on the three closing days summing up 16,890 bales. Receipts also the heaviest of the season—87,753 bales, against 42,586 in January '59. . . . . . During February a good degree of animation prevailed in the market, and with a good attendance of Northern, European, and Southern buyers, the demand was active, and prices, while experiencing no change, ruled steady throughout, and closed firm. Month's receipts 37,755 bales; in 1859, 64,163 bales. . . . . March opened with a lively competition among buyers, caused by the favorable tenor of European advices, evincing, as they did, that our trans-Atlantic customers were becoming seriously alarmed as to future supplies; by the threatenng attitude of American affairs, and were disposed to purchase freely and at full prices. Hence Middlings, which on the 1st were held at 10 1/4 @ 10 1/2c., steadily advanced to 11c., then to 11 1/2c. and finally, on the 26th of the month to 12c. per lb., at which there was much firmness and great activity. Buyers for Northern manufacturing account also evinced more disposition to operate, and what with these and the free purchases of New Orleans and Liverpool parties, the stock on sale was rapidly reduced from 40,060 bales, on the 1st, to less than 5000 on the 31st, the receipts in the meantime having also comprised 14,772 bales. . . . . The upward tendency in prices, above referred to, continued until the close of the first week in April, by which time a further improvement of 1/2c.was established, placing Middling at the extraordinary figure of 12 1/2c. At this time stocks had become so reduced, and the prospect for future receipts so unfavorable, that the majority of buyers withdrew from the market, and the Cotton season, proper, virtually closed. A glance at the annexed schedule of prices will show the slight changes in prices that may have occurred from that date to the present, during the greater part of which time operations have been mostly confined to orders from interior Southern manufacturers—prices meanwhile being regulated solely by the relative necessities of buyers and sellers.

Comparative Statement of the Monthly Receipts of Cotton At Memphis during the past three years. MONTHS. 1858—1859 1859—1860 1860—1861 September. . . . . 10,000 15,677 24,210 October. . . . . 57,783 71,642 76,755 November. . . . . 71,808 91,653 73,776 December. . . . . 69,989 55,653 44,879 January. . . . . 51,530 42,586 87,753 February. . . . . 30,994 64,163 37,755 March. . . . . 18,874 36,292 14,772 April. . . . . 9,808 10,060 6,707 May. . . . . 2,978 7,374 1,378 June. . . . . 395 1,159 599 July. . . . . 477 872 389 August. . . . . 366 1,350 650 Total. . . . . 325,480 398,791 369,653

Comparative Statement of Shipments of Cotton Northward, From Memphis, (by river) for the past ten years. YEAR. AMOUNT. 1851—52. . . . . 16,706 1852—53 22,521 1853—54 23,156 1854—55 16,427 1855—56 34,306 1856—57 34,184 1857—58 28,800 1858—59 84,139 1859—60 128,329 1860—61 167,696

Comparative Statement of Cotton Shipments from Memphis During the past three years. DESTINATION. 1858—59 1860—60 1860—61 New Orleans. . . . . 241,546 263,589 184,366 Ohio River. . . . . 59,827 111,144 153,894 St. Louis. . . . . 23,724 16,769 13,802 European & Northern Points . . . . . 160 14,989 Interior Points. . . . . . . . . . 256 2,806 Total. . . . . 325,107 391,918 369,857

In reference to this article, we invite attention to the following extract from our annual statement of Sept. 1st, 1860, furnishing a history of the introduction of this article of commerce into our market, and the progress made in that particular branch of trade up to the date above specified:

TABLE—Showing the weekly prices of Tobacco during the year. DATE. Lugs. Leaf inf. to com. Fair leaf Fineleaf Choice & select. Sept'ber.7 2 @ 2 3/4 4 @ 4 1/2 5 @ 5 1/2 6 @ 7 — @ 8 “ 14 2 1/2 3 4 4 1/2 4 4 3/4 5 7 —8 “ 21 . . . . . . . . . . . . . . . . . . . . . . . . . “ 28 . . . . . . . . . . . . . . . . . . . . . . . . . Oct. 5 2 2 3/4 4 4 1/2 5 5 1/2 6 7 —8 “12 . . . . . . . . . . . . . . . . . . . . . . . . . “19 3 3 3/4 4 5 5 1/2 6 1/4 6 1/2 7 1/2 8 8 1/2 “26 3 4 4 1/2 5 1/4 5 1/2 6 1/2 6 3/4 7 1/2 8 9 Nov. 2 3 1/4 4 1/2 5 6 6 1/4 7 7 1/4 8 8 1/2 9 “ 9 3 3 1/2 4 5 6 7 7 1/2 8 8 1/2 9 “16 . . . . . . . . . . . . . . . 7 1/2 8 . . . . . “ 23 . . . . . . . . . . . . . . . 7 1/4 8 . . . . . “30 . . . . . . . . . . . . . . . . . . . . . . . . . Dec. 7 . . . . . . . . . . . . . . . . . . . . . . . . . “ 14 . . . . . 4 5 1/2 . . . . . . . . . . . . . . . “21 3 1/4 4 1/2 5 6 6 1/4 7 1/4 7 1/2 8 1/2 9 10 “28 . . . . . . . . . . . . . . . . . . . . . . . . . Jan. 4 . . . . . . . . . . . . . . . . . . . . . . . . . “ 11 . . . . . . . . . . . . . . . . . . . . . . . . . “ 18 . . . . . . . . . . . . . . . . . . . . 9 9 1/2 “ 25 3 3 1/2 4 5 1/2 6 6 1/2 7 8 8 1/2 9 Feb. 1 . . . . . . . . . . . . . . . . . . . . . . . . . “ 8 . . . . . . . . . . . . . . . . . . . . . . . . . “ 15 . . . . . . . . . . . . . . . . . . . . . . . . . “ 22 . . . . . . . . . . . . . . . . . . . . . . . . . March 1 . . . . . . . . . . . . . . . . . . . . . . . . . “ 8 . . . . . . . . . . . . . . . . . . . . . . . . . “ 15 2 4 4 1/2 5 1/2 6 6 1/2 7 8 9 1/2 10 “ 22 2 1/2 3 1/2 . . . . . . . . . . . . . . . . . . . . “29 2 4 . . . . . . . . . . . . . . . . . . . . April 5 2 1/2 4 1/2 5 5 1/2 . . . . . . . . . . 9 10 “ 12 . . . . . . . . . . . . . . . . . . . . . . . . . “19 . . . . . . . . . . . . . . . . . . . . . . . . . “26 . . . . . . . . . . . . . . . . . . . . . . . . . May 3 . . . . . . . . . . . . . . . . . . . . . . . . . “ 10 . . . . . . . . . . . . . . . . . . . . . . . . . “ 17 . . . . . . . . . . . . . . . . . . . . . . . . “ 24 . . . . . . . . . . . . . . . . . . . . . . . . . “ 31 2 1/2 4 5— 6— 6 3/4 7 3/4 9 9 1/2 June 7 . . . . . 5 5 1/2 6 6 1/2 7 8 9 10 “ 14 . . . . . . . . . . . . . . . . . . . . . . . . . “ 21 . . . . . . . . . . . . . . . . . . . . . . . . . “ 28 . . . . . . . . . . . . . . . . . . . . . . . . . July 5 . . . . . . . . . . . . . . . . . . . . . . . . . “ 12 nominal nominal nominal nominal nominal “ 19 . . . . . . . . . . . . . . . . . . . . . . . . . “ 26 . . . . . . . . . . . . . . . . . . . . . . . . . Aug. 2 . . . . . . . . . . . . . . . . . . . . . . . . . “ 9 . . . . . . . . . . . . . . . . . . . . . . . . . “ 16 . . . . . . . . . . . . . . . . . . . . . . . . . “ 23 . . . . . . . . . . . . . . . . . . . . . . . . . “ 30 2 1/2 4 5 5 1/2 6 6 1/2 7 8 9 10

The results of the past season warrant all the conclusions contained in the foregoing extract. Owing to the great and general drought of the spring and summer of 1860, the crop grown was considerably short of the preceding, particularly in that portion of country trading at our market. The crop was probably nearly a half less than the one grown in 1859. But notwithstanding the yield was greatly less, the shipments to and sales in our market have equaled, if not exceeded, those of the commercial year ending Sept. 1st, 1860. The prices paid have been remunerative to the grower. Up to the time of the blockade, the maximum paid was $10; the minimum $2 50 for the lightest description of chaffy Lugs. The average of prices, considering the general inferiority of the weed, was high, up to that time. With the inception of the blockade, operations for a time were suspended, and subsequently in a few instances sales were effected at a small decline; but recently all offering have been taken at figures fully equal to those ruling in the beginning of the season, and the year closes with an active demand, with scarcely any stock on the market. The year's receipts sum up 2,836 hogsheads, and the shipments 2,791 hhds. The reader's attention is directed to the preceding statement of prices current at the close of each week throughout the year.

The Memphis market for the sale of this article has been an increasing one since the opening of the first house for its sale on manufacturers' account. We have now three houses exclusively in that line of business, and two others who connect it with some other departments of trade. Within the last two years, it has proved for the manufacturer a more ready market, with more prompt returns, than either New Orleans, Louisville or Cincinnati, and to the purchasers equally advantageous—they having been enabled to purchase at less prices and on as good terms as could be offered at any other point. As evidence of this, merchants from Hickman, Columbus, Cairo and Paducah, have (until the blockade obstructed intercourse between Memphis and the three last-named places) obtained their supplies largely from this point, and merchants from Natchez and Columbus, Miss., say they find better assortments in our market than in any other now open to them. The demand at this point comprises every grade of manufactured tobacco, from the coarsest quality of Western, for negro use, to the finest fancy brands of the most noted Virginia manufacture. The only manner in which merchants can satisfy themselves as to relative advantages of different markets, is by trial and comparison, and we feel assured that all who give the Memphis market a fair test, will find the assortment as full, the prices as low, and the terms as favorable, as any other point in the country.

The receipts of the past year embrace 12,505 boxes and 4,182 cases and packages—an amount known to be largely in excess of any previous year. No account has hitherto been kept of the actual receipts from year to year, but, in future we shall be able to firnish tables showing the relative increase.

From the Annual statement of Messrs. II. T. Lonsdale, Nathan & Co., of New Orleans, we learn that the total receipts of Coffee at that port from Rio, during the year ending with 1st of July, embraced 284, 956 bags, against 298,335 bags in 1859-60, and 426,476 bags in 1858-59. The total exports of Coffee from Rio to all parts of America, for the year ending 31st May, are stated at 1,084,400 bags, 737,900 bags of which have entered at Atlantic, and 346,500 bags through Gulf ports. These figures show an increase as compared with last year of 138,987 bags, and as compared with 1858-59, of 307,535 bags. The quantity sold in New Orleans for consumption, during the past year, was 293,941 bags, leaving a stock on hand in that city, on the 1st of July, of only 6,103 bags. The total stock in the country, at that date, was estimated at 172,000 bags, of which 136,000 bags were held in New York; 26,000 in Baltimore, and 4,000 in Boston. The stock on hand at the above date, last year, was 43,000 bags, showing an increase this year of 129,000 bags.

The local market for Coffee opened on the 1st of last September at 15 1-2 @ 16c. for Fair to Good Fair, and 16 1-2 @ 17c. for Prime to Choice, with light stocks, and an active demand from the local trade and for shipment to the interior. Prices experienced a gradual decline from this date, owing to liberal receipts and stocks, and on the 1st of November 141-2 @ 15 1-2c. were the ruling figures for Fair to Choice. The financial troubles of this period continued to depress the market, and by the close of December prices had further declined to 131-2 @ 14 1-2, with very little doing. There was no further change in prices until about the middle of March, when Fair went down to 12 3/4 @ l3c., and Prime to Choice l3 3/4 @ l4 1/4c.—the lowest point of the entire season. The political difficulties which began to develop themselves at this period, embracing the threatened blockade of Southern ports, involving a cutting off of supplies, together with the limited stocks known to be in New Orleans, caused more firmness on the part of holders, and prices commenced to advance. This upward movement continued to progress steadily, and by the 1st of July, Fair to fully Fair was selling at 20 c., and Prime to Choice at 22c., a very heavy business having in the meantime been transacted, and our market patronized by dealers from far distant sections of the country, who had never before thought of looking to Memphis for supplies. The market continued active up to the date of closing this report, with a further advance in prices equal to 10 @ 15 cents per pound, and with light stocks and great firmness on the part of holders, we now quote Fair to fully Fair 34 @ 35c., and Prime to Choice 40c. The receipts of the season, at this point, embrace 30,458 bags.

In glancing at the the operations of our market in Louisiana Sugars, during the past year, we find a very considerable increase over any former similar period in our history, albeit the political and financial revulsions of the year have had more or less influence in restricting the demand for and consumption of the article. The increase in receipts and sales, therefore, is due entirely to the enlargement and extension of our trade, in many instances to very remote regions, and to the additional fact that our dealers were prepared to offer inducements to the interior trade, which, all things considered, could not be surpassed in the great Southern mart itself. And while we find that the year's receipts have been unusually large, stocks at no one time were cumbersome or unwieldy, the demand for consumption throughout having been steady and well maintained. The fluctuations in prices have been few in number, and only to a limited extent, as is shown by the weekly statement of quotations, hereto appended.

According to the annual statement of Mr. Champomier, of New Orleans, the total yield of Louisiana Sugars, of the crop of 1860-61, was 228,753 hhds, or 263,065,000 lbs., against 221,840 hhds. in 1859-60, and 362,296 hhds. in 1858-59. These figures do not include 1,330 hhds. of the crop of 1860-61 produced in Texas, giving a total crop of 230,083 hhds. Of the amount 195,499 hhds. were made by the old process, and 83,263 hhds. were refined, clarified, etc. The shortness of the crop under review was due in great part to the severe and protracted drouth of the early part of the season; the fields were baked by the heat of the sun, and with an entire absence of rain, the cane was parched and withered. Another cause of injury were the storms of August and October, which inundated many plantations, while on others the cane was not only prostrated and rendered comparatively worthless, but many sugar-houses and purgeries were blown down and machinery damaged. The season for grinding, however, proved unusually propitious, and thus much of this damage was retrieved, and an average yield secured.

From reliable data we estimate the total stock now in the State of Louisiana at 10,000 hhds., of which about 3,000 hhds. are in New Orleans. Here the stock is comparatively light—225 hhds. The entire receipts of the season foot up 9,588 hhds., and 6,214 bbls.

Passing on to the Molasses trade of the city, we also find a marked improvement in the aggregate as compared with previous years. The extension of our trade has brought hither innumerable customers who never before visited this market, but who have at all times throughout the year found ample stocks from which to make selections, and at prices as favorable, transportation added, as the same article could be purchased in New Orleans. The demand has also been augmented in some degree by the increased consumption, especially on the plantations of this and adjoining sections, where Molasses has tended greatly to supply the place of meats, and become in fact an article of prime necessity. The total yield from the last Sugar crop is estimated at 18,414,550 gallons, against 17,854,100 in 1859-60. The receipts at this point embrace 763,760 gallons, or 19,094 bbls., of which but a limited amount remains on hand. Prices throughout the year have varied but little, as is shown by the preceding table.

The crop of this important cereal in the Southern country generally, for the year 1860, was a partial failure, owing to the dry and unfavorable character of the weather during the early part of the season, which prevented good stands and otherwise impeded the prospects of the growing crop. The yield, therefore, being light, the deficiency was necessarily made up from the northwestern States, where, under more favorable circumstances, an abundant crop was produced; hence we find that the amount of Corn received in this city during the year, and disposed of by our merchants, exceeds by far the operations of any previous year in our history. The market opened on the first of September with a comparatively light stock on hand, supplies having been pretty generally exhausted by the active demand experienced during the two preceding months, and low water in the upper Mississippi having in great part cut off our usual source of supply. The sales of the early part of the month were chiefly from levee, and at 55 @ 60c per bushel for Yellow and Mixed and 60 @ 62 1/2c for White. The market continued steady until the latter part of the month, when stocks having been reduced to a very low point, prices advanced 2 1/2 @ 3c and the month closed firm—the receipts having comprised 16,970 bags. The market for October opened active and buoyant, with more liberal receipts, and by the close of the first week a further advance of 2 @ 3c per bushel had been established, lots of Yellow and Mixed commanding 60 @ 65c and Prime White 67 1/2 @ 70c. The market remained in this condition, with only slight fluctuation, until about the 25th, when with improved navigation and heavy receipts, holders yielded 2 @ 2 1/2c, and the market closed quiet at 60 @ 62 1/2c for Yellow and Mixed and 64 @ 65c for White. The business of the mouth was chiefly for the supply of regions in North Alabama, Georgia and the Carolinas, which had hitherto looked to other markets. Month's receipts, 23,983 bags.

There was no change of consequence in the market until the latter part of November, say the 20th, when the new crop beginning to arrive very freely, and with large stocks of the old in dealers' hands, prices began to droop and by the 25th were from 3 to 5c lower. In addition to this, the country demand was less active and the market for the month closed dull at 57 1/2 @ 60c for Yellow and Mixed, and 60 @ 62 1/2c for White (old crop). The new crop was neglected and dragged heavily at 52 1/2 @ 55c. Month's receipts 34,221 bags.

Prices continued to tend downward and by the close of the first week in December a further reduction to 58 @ 60c and from 55 to 57 1/2 c, and subsequently, on the following week, to 52 1/2 @ 55c for Yellow, Mixed and White was submitted to by holders—the receipts having been largely in excess of the demand. No further change occurred and the market for the month closed dull as above, with receipts of 23,781 bags.

During the first half of January, the market was quiet, but before the close of the third week, under the influence of political causes, a lively demand sprang up, and prices soon rallied to the extent of 2 @ 3c per bushel, which was maintained until the close—stocks in the meantime having been materially reduced, while the receipts had fallen to 17,833 bags. This spur in the market, added to a fine stage of water in all the upper rivers, induced heavy shipments to this point during the first two weeks of February, by which time the advance last referred to had been lost, the demand momentarily checked, and the market pretty well glutted. Affairs moved along in this wise until the close of the month, when, with a moderate inquiry and ample stocks, we quoted yellow and mixed 56c. and white 58c. March opened with a good demand, but, with serious impediments to transportation eastward by railroad, owing to an immense press of through freight upon the Memphis and Charleston and Mobile and Ohio roads, which in great measure prevented the usual local accommodations. The receipts, too, opened briskly, and, as the sequel proved, were by far the largest of any similar period of the season; hence it was that immense stocks soon accumulated, and prices f ll to 52 1/2 @ 55c., and finally, on the 29th, to 50 @ 52 1/2c. per bushel—the deliveries of the month having reached the large amount of 99,611 bags.

During the first two weeks of April with a continuance of the unfavorable circumstances above referred to, holders conceded a further reduction of 2 @ 2 1/2c., but on the l7th, with the war proclamation of the Northern dictator to hand, and apprehensions of an early stoppage of supplies from the north, added to a considerable improvement in the St. Louis market, prices rallied to 55 @ 56 and 57 @ 60c. and by the close of the month to 60c. for yellow and mixed and 65c. for white. This excitement in the market proved of temporary duration, and supplies continuing to pour in with increased vigor, a reaction soon ensued, and by the 3d of May, the market was dull at a decline of 5c. per bushel. Toward the middle of the month, however, the long threatened blockade of the Northern government was placed in operation, and, by the close of the mouth, prices had gradually stiffened, until 65 @ 75c. were the ruling figures. Stocks were ample, and prospects for the coming crops most encouraging. The tendency of the market from June 1st to date has been uniformly downward; prices in view of the reduced inquiry and the very favorable indications of a large yield from the coming crop, gradually giving way until the middle of August, when offerings were freely made at 45 @ 50c., in ots. During the past two weeks, there has been some little demand, with sales at 50 @ 52 1/2c.

TABLE—Showing the Weekly Prices of Corn during the year. DATE. YELLOW and MIXED. WHITE. September. . . . . . . 7 60 @ 62 64 @ 67 “14 . . . . . . . . . . “21 . . . . . . . . . . “28 60 62 1/2 65 67 1/2 October. . . . . 5 . . . . . . . . . . “12 65 67 1/2 70 “19 . . . . . . . . . . “26 60 62 1/2 64 65 November. . . . . 2 . . . . . . . . . . “ 9 . . . . . . . . . . “ 16 . . . . . 65 “ 23 57 1/2 60 60 62 1/2 “ 30 . . . . . . . . . . December. . . . . 7 . . . . . . . . . . “ 14 55 57 1/2 58 60 “ 21 52 1/2 55 “ 28 . . . . . . . . . . January. . . . . 4 . . . . . . . . . . “ 11 . . . . . . . . . . “ 18 58 58 “ 25 57 1/2 58 58 February. . . . . 1 56 57 58 60 “ 8 56 58 “ 15 55 56 58 59 “ 22 56 58 March. . . . . 1 55 56 57 58 “ 8 52 1/2 55 55 “ 15 50 52 1/2 “ 22 50 52 1/2 55 “29 50 52 52 1/2 April. . . . . 5 48 50 50 52 1/2 “ 12 . . . . . . . . . . “ 19 55 56 57 1/2 60 “ 26 60 65 May. . . . . 3 55 57 1/2 65 “ 10 65 70 “ 17 65 75 “ 21 70 75 “ 31 65 67 1/2 75 June. . . . . 7 60 65 “ 14 . . . . . . . . . . “ 21 50 52 1/2 55 57 1/2 “ 28 50 55 July. . . . . 5 50 50 52 1/2 “ 12 . . . . . . . . . . “ 19 . . . . . . . . . . “ 26 . . . . . . . . . . August. . . . . 2 47 1/2 50 50 52 “ 9 45 47 1/2 50 “ 16 50 55 “ 23 . . . . . . . . . . “ 30 47 1/2 50 50 52 1/2

For the last three or four years, the Oat crop has been cultivated in the South with indifferent success; but being a subordinate article of produce, easily supplied by the substitution of hay and fodder, the failure of the crop excited but little concern in any quarter. The yield of the crop of 1859'-60, in this section, having been light, and the disposition having become general among planters to pay more attention to the culture of this cereal, with the view of exempting themselves from the necessity of looking to the North for supplies, a more vigorous and systematic effort toward its cultivation was made last spring, and with very gratifying success. The large quantities thus taken for seed purposes, in addition to the demand for consumption, caused a material increase in shipments to this a point, which, from its position, is looked to for supplies by the agricultural districts of several of the interior States, and the receipts were swelled from about 10,000 bags in 1859-'60, to within a fraction of 50,000 bags, or 125,000 bushels, in 1860-'61.

TABLE—Showing the Weekly Prices of Oats, from Levee, throughout the Year. DATE. PRICE. September. . . . . 7 38 40 “. . . . . 14 38 40 “. . . . . 21 40 41 “. . . . . 28 49 1/2 41 October. . . . . 5 42 45 “. . . . . 12 43 45 “. . . . . 19 45 50 “. . . . . 26 42 1/2 45 “. . . . . 2 40 42 1/2 November. . . . . 9 40 42 1/2 “. . . . . 16 . . . . . “. . . . . 23 40. . . . . “. . . . . 30 33 35 December. . . . . 7 35 37 1/2 “. . . . . 14 . . . . . “. . . . . 21 33 35 “. . . . . 28 33 37 1/2 January. . . . . 4 . . . . . “. . . . . 11 35 37 1/2 “. . . . . 18 40 45 “. . . . . 25 45. 50 February. . . . . 1 45 55 “. . . . . 8 . . . . . “. . . . . 15 42 1/2 50 “. . . . . 22 43 45 March. . . . . 1 40 45 March. . . . . 8 40 42 1/2 “. . . . . 15 35 38 “. . . . . 22 33 35 “. . . . . 29 . . . . . April. . . . . 5 . . . . . “. . . . . 12 . . . . . “. . . . . 19 35 37 1/2 “. . . . . 26 40 45 May. . . . . 3 . . . . . “. . . . . 10 45 50 “. . . . . 17 50 55 “. . . . . 24 55 60 “. . . . . 31 . . . . . June. . . . . 7 60. . . . . “. . . . . 14 . . . . . “. . . . . 21 . . . . . “. . . . . 28 . . . . . July. . . . . 5 . . . . . “. . . . . 12 . . . . . “. . . . . 19 . . . . . “. . . . . 26 60 65 August. . . . . 2 60 65 “. . . . . 9 . . . . . “. . . . . 16 . . . . . “. . . . . 23 . . . . . “. . . . . 30 60 62 1/2

The market for the current year opened with light stocks and a limited inquiry, the ruling figures being 38 @ 40c., from levee. Receipts improved towards the close of September, but the demand fully keeping pace with supplies, prices gradually stiffened until the middle of October,0 when round lots commanded 45 @ 50c. A week later, and stocks had accumulated to such an extent that prices gave way 2 1/2 @ 5c., at which the market continued steady until the last week in November, when, with large stocks and a considerable falling off in the demand, owing to restrictions upon railroad shipments to the interior, figures were reduced to 33 @ 35c. The market experienced only slight fluctuations from this time until the middle of January—stocks in the meantime being ample, with a moderate demand—when a lively inquiry springing up from he local trade and for seed purposes, rates advanced to 40 @ 50c. for white and black. Under the influence of this inquiry, the market was somewhat exited during the five or six following weeks, with little or no change in prices until the middle of March, when heavy stocks depressed the market, and holders offered freely at 33 @ 35c. A moderate business was transacted be ween this date and the latter part of April—prices varying but little— when the “blockade” had the effect to stimulate the local demand and force prices upward 2 1/2 @ c. Stocks at this period having become reduced to some3,000 bags, and all in the hands of two or three parties, the market continued to advance, and by the close of May was firm at 55 @ 60c per bushel. During the months of June, July and August, the demand has been comparatively limited, and prices have ruled steady at 60 @ 62 1/2c. per bushel from store. The yield of the present crop is, perhaps, the largest ever produced in this section, and of the best quality.

The receipts of wheat in this market for the year ending September 1st, 1858, were estimated at 300,000 bushels, in 1850 at 125,000 bushels, and in 1860 at 100,000 bushels, the quantity having regularly decreased from year to year. This falling off was occasioned by the continued failure of the crop in this section, from drought and other causes, and did not occasion remark in milling circles, as the causes were perfectly well understood. The crop now under review has, on the contrary, been the largest and most valuable ever produced in this section, and we believe the remark applies with equal force to all portions of the Southern Confederacy. The enforcement of the Northern blockade about the time for planting, caused agriculturalists generally to pay especial attention to the culture of this important cereal. A much larger area of land was sown than ever before, and, with favorable weather for growing, maturing and harvesting, the yield has proven not only the most prolific on record, but of the very best and choicest quality. The meagre receipts of the crop of 1859-'60, during the fall months, prevented the regular operation of our city mills, and but little attention was paid to the article, which, however, found a ready market either for home manufacture or export, at prices ranging from $1 00 to $1 25 for common to prime and choice. The first receipts of the new crop reached the city June 14th —against the 10th of May In 1860—from the plantation of Mr. E. Brooks, in this county, and sold at $150 per bushel. The deliveries during the remainder of the month comprised only 1,375 bags, and the market did not open regularly until about the 10th of July, when the article began to arrive freely, and our mills were in general operation. Prices in the meantime had ranged from $1 to $1 25, but the supply at the above date having exceeded the demand, holders conceded a decline of 5 @ l0c. The receipts of July summed up about 65,000 bushels, and by the close of the month prices had fallen to $1 for prime and choice and 80 @ 90c for inferior and common. During the first two weeks in August there was but little variation from these quotations, but, under the influence of gradually receding receipts and a steady local and considerable shipping inquiry, holders displayed more firmness, and by the l5th an advance of 2 @ 2 1/2c per bushel had been established. No changes of importance have transpired in the market during the past fortnight, and we close our report upon a quiet market at $1 for prime and 80 @ 90c for inferior.

The business of the city in this article during the past year exhibits a remarkable increase over that of any former season. The general failure of the wheat crop of the Southern country for the year 1859—'60, and the consequent falling off in home production, created an unusual demand for flour, and as the facilities afforded purchasers in this market were unsurpassed in the South or West, our trade has been much heavier and more widely extended than ever before.

As regards the quantity of flour manufactured in the city during the past year, we find it to have been comparatively limited—say 50,000 barrels—fully 40 000 barrels of which have been made from the new crop, and within the past three months. The capicity of the various mills of the city is about 600 barrels per day, consuming 3,000 bushels of wheat, and since the 1st of July these establishments have all been taxed to the utmost to supply the home demand. The quality of the flour made in this city is unsurpassed, and stands A.1 in New Orleans and all the coast markets—commanding, in fact a decided premium over any of the fancy brands made in the Northern States. Hence, our mills are seldom at a loss for purchasers, especially for all choice brands, and at full and remunerative prices. The receipts of the year have been the largest ever known in this market, and this, too, in the face of a blockade from about the middle of the season up to the present time, which has prevented immense quantities from reaching the city. The supply, too, has always been ample, and large or small orders of any description have been readily filled.

In respect to prices, we find that the average of superfine throughout the year has been $6 50 per barrel, of Fancy $7 50, and of Extra $8 @ 8 50—scarcely equal to that of former seasons. The market opened, 1st September, at $5 60 @ 5 75 for Superfine and $7 50 @ 8 50 for Extras, and the month closed at the same figures. Receipts, 15,138 barrels. During October, with large stocks, prices declined 10 @ 15c on all grades, and continued to tend downward throughout November and December, by which time a decline of 50 @ 75c had been established. Receipts of October, 15,200 barrels; of November, 11,719 barrels, and of December, 16,019 barrels. Early in January, a good demand was expressed, and by the 10th, prices had fully recovered the decline noted. No further fluctuations occurred until the middle of April, when, with the enforcement of the Northern blockade, which it was then thought would materially restrict supplies, prices rallied, and continued to tend upward until the latter part of May, at which time Superfine was selling at $7 25 @ 7 50, and Choice and Fancy brands $8 50 @ 10, as in quality. In the meantime, the receipts of January had comprised 15,368 barrels; of February, 14,773 barrels; of March, 20,786 barrels; of April, 9,325 barrels; of May 9,781 barrels. The immense stocks on hand, June 1st, and the flattering yield of the new wheat crops then being harvested, tended to depress prices, which gradually declined to $6 50 @ 6 75 for Superfine and $8 @ 9 for Extra. From the 1st of July, at which date this decline was generally conceded, up to the present, rates have varied but little from the above figures, at which the market for the month and year closes firm. Receipts of June 9,455 barrels; of July 2,878 barrels, and of August,—barrels. The annexed table exhibits the price of the various grades at the close of each week, throughout the year:

TABLE—Showing the Weekly Prices of Flour during the year. DATE. Fine. Superfine. Extra. Choice and Fancy. Sept. 7 4 75@5 00 5 60@5 75 6 30@6 80 7 50@8 50 “ 14 . . . . . . . . . . . . . . . . . . . . “ 21 . . . . . 5 50 5 75 . . . . . . . . . . “ 28 . . . . . . . . . . . . . . . . . . . . Oct. 5 4 50 5 00 5 50 6 25 6 75 7 50 8 25 “ 12 . . . . . 5 25 5 50 6 25 6 65 7 50 8 00 “ 19 . . . . . 5 35 5 60 6 50 6 75 7 00 8 50 “ 26 . . . . . 5 25 5 60 6 25 6 50 7 25 7 75 Nov. 2 4 75 5 00 . . . . . . . . . . . . . . . “ 9 . . . . . . . . . . . . . . . 7 50 8 00 “ 16 . . . . . . . . . . . . . . . . . . . . “ 23 . . . . . . . . . . . . . . . 7 2 7 75 “ 30 4 25 4 50 5 00 5 25 6 00 6 25 7 00 7 50 Dec. 7 . . . . . . . . . . . . . . . . . . . . “ 14 . . . . . . . . . . . . . . . . . . . . “ 21 . . . . . . . . . . . . . . . 7 50 8 00 “ 28 . . . . . . . . . . . . . . . 7 00 8 00 Jan. 4 4 50 4 75 5 25 5 50 5 75 6 50 . . . . . “11 4 50 5 00 5 50 5 75 6 25 6 75 . . . . . “ 18 . . . . . . . . . . . . . . . 7 25 8 25 “ 25 . . . . . . . . . . . . . . . 7 00 8 00 Feb. 1 . . . . . 5 25 5 50 . . . . . 7 00 8 00 “ 8 . . . . . . . . . . . . . . . . . . . . “ 15 . . . . . . . . . . . . . . . . . . . . “ 22 . . . . . . . . . . . . . . . . . . . . March 1 . . . . . . . . . . . . . . . . . . . . “ 8 . . . . . . . . . . . . . . . . . . . . “ 15 4 25 4 50 5 00 5 50 6 00 6 50 7 00 8 00 “ 22 4 00 4 50 5 00 5 25 5 75 6 25 7 00 8 00 “ 29 . . . . . . . . . . . . . . . . . . . . April 5 . . . . . . . . . . . . . . . . . . . . “ 12 . . . . . . . . . . . . . . . . . . . . “ 19 4 50 5 00 5 25 5 75 6 25 6 75 7 50 8 50 “ 26 5 25 5 50 6 00 6 50 6 75 7 00 7 50 9 00 May 3 . . . . . . . . . . . . . . . . . . . . “ 10 5 25 5 75 6 50 7 00 7 25 7 75 8 00 9 50 “ 17 5 50 6 50 7 00 7 50 7 75 8 25 9 00 10 00 “ 24 . . . . . 7 25 7 50 7 75 8 50 9 00 10 00 “ 31 . . . . . . . . . . . . . . . . . . . . June 7 . . . . . . . . . . . . . . . . . . . . “ 14 . . . . . . . . . . . . . . . . . . . . “ 21 . . . . . . . . . . . . . . . . . . . . “ 28 . . . . . 7 00 7 50 7 75 8 25 8 00 9 50 July 5 5 50 6 00 6 50 7 00 8 00 8 25 8 50 “ 12 . . . . . . . . . . . . . . . . . . . . “ 19 . . . . . . . . . . . . . . . . . . . . “ 26 nominal. 6 50 7 50 8 00 8 50 Aug. 2 . . . . . . . . . . . . . . . . . . . . “ 9 . . . . . . . . . . . . . . . . . . . . “ 16 5 00 5 50 6 50 6 75 7 50 8 25 8 50 8 75 “ 23 . . . . . . . . . . . . . . . . . . . . “ 30 . . . . . . . . . . 7 50 8 00 8 25 8 50

The course of the market for these articles, during the last twelve months, will be briefly reviewed under one heading. The commencement of the season, in September last, found very light stocks on the market, with a good demand not only from the local trade but from remote regions which had previously looked elsewhere for supplies, but which having been brought into close connection with Memphis through the medium of our various railways, were beginning to test for themselves the superior advantages of our market. Mess Pork opened at $22 per barrel, Lard at 15c; Shoulders at 11 1/4 @ 11 1/2c; Clear Sides at 13 3/4 @ 14c, and Hams at 14 @ 15c. Early in September the receipts from the upper country were more liberal and the supply was largely in excess of the demand. This state of affairs continued until about the 1st of January, prices in the meantime continuing gradually to decline, and during the first week in that month the market had reached the lowest points of the season, viz: Mess Pork $17; Lard 9 1/2 @ 10 1/2c; Shoulders 7 1/2 @ 8c; Harris 10 @ 11, and Clear and Rib Sides 10 @ 11c. The inquiry for Bacon, during the latter part of January, was pretty generally superseded by Bulk Pork—with which the market was amply supplied at 7c, hog round— thus tending to a still further depression in the first named article. The demand for dry salted meats continued to prevail during the following four months, closing only with the season, about the first of May, with by far the largest aggregated transactions ever known in this market, vast quantities of the article having been taken for shipment to the St States of Georgia, Alabama, Mississippi, and the Carolinas. A good inquiry was also expressed during this period for all descriptions of Bacon, barrelled Pork and Lard, for the same points, and this, taken in connection with the prospective stoppage of future supplies from the North by virtue of the blockade, caused a material advance in all these articles, Mess Pork, on the 1st of May, commanding $22 @ 23 per barrel; Shoulders 10 @ 10 1/2c; Hams 12 @ 15c; and Ribbed and Clear Sides 13 @ 15c. Bulk Pork also exhibited considerable firmness at 10c for Sides; 8 @ 8 1/2c for shoulders; 9 1/2 @ 10c for Hams, and 9 1/4 @ 9 1/2c for hog round. The market continued steadily to improve, and on the 20th of June a further advance of $3 to $4 per barrel on Mess Pork, and of 2 @ 3c per pound on all qualities of Clear and Joint Bacon had been established.

According to the annual report of the Cincinnati Price Current the pork packing season commenced about three weeks later than last year, and closed somewhat earlier. The number of hogs packed is set down as follows:

  1859 60 1860-61. Ohio 681,908 624,798 Indiana 406,595 368,031 Illinois 503 735 521 991 Kentucky 3 2,487 251,896 Missouri 190,660 180,972 Tennessee 26,800 400 Iowa 166,623 162,204 Wisconsin 55,837 54,410 Grand total 2,354,645 2,155,702 Deficiency 199,943  

Or a fraction less than 8 1/2 per cent. The following with regard to the weights of the past season, as compared with the previous year, together with the yield of Lard per hog, will be found interesting:

  Average weight per Hog.1859-60. [Average weight per Hog.] 1860-61. Yield of Lard per Hog.1859-60. [Yield of Lard per Hog.]1860-61. Ohio, lbs. . . . . 191 6-19 226 26 30 1/2 Indiana. . . . . 192 1/4 212 3/4 27 30 Illinois. . . . . 191 224 1/3 30 34 Kentucky. . . . . 197 212 31 30 2/3 Missouri. . . . . 194 2-9 206 6-7 26 30 5-12 Tennessee. . . . . 189 ..... 26 ..... Iowa. . . . . 191 1/2 233 2/3 29 30 5-12 Wisconsin. . . . . 207 229 29 31

An regards the aggregate weight of an equal number of hogs, the returns show an increase of 60,658,249 lbs, or the difference between 410,658,361 lbs in 1859-60 and 479,312,031 lbs in 1860-61. This is equal to exactly 14 1/2 per cent., so we find that by deducting from this the decrease in number, 8 1/2 per cent., we have a net increase of 5 3/4 per cent. as compared with the previous season.

The yield of Lard per hog was generally better than last year, but notwithstanding this, owing to the increase in the number of hogs packed, the increase in quantity, as compared with last year, was not as large as might be at first supposed. The following figures show the comparison and the result, being the aggregate yield for each season, in lbs.

The above figures show an increase of 5 3/4 per cent. in the supply, equal to 135,392 hogs, but when it is remembered that a great proportion of this increase is in Lard; that the increase of home consumption occasioned by the war is very great, that there is also a considerable increase in the area to be supplied and in the foreign demand, it will be seen that the supply is really small—in fact barely averaged.

Early in June, under the influence of an active local and export demand, prices for all descriptions of meat advanced, and there was great firmness at 12 @ 12 1/2c for Shoulders; Ribbed Sides 16 @ 16 1/2c; Clear Sides 17 @ 17 1/2c, Hams 16 @ 17 1/2c ; Mess Pork $26 @ 27; and Lard 12 @ 15c, which figures have ruled, with slight and immaterial fluctuations, up to the present time. The wisdom and patriotism of several of our leading merchants and bankers—who, in order to guard against scarcity and the high prices to consumers which would have necessarily followed, a short time previous to the enforcement of the blockade, contributed funds sufficient to purchase $100,000 worth of provisions and ship the same to this city— prevented any unusual advance in prices, and at the same time gave assurance that in addition to the large stocks in the hands of private dealers, supplies would be ample for all ordinary demands. The exigency, to meet which the purchase was made, failing to arise by the middle of July, the entire stock consisting of 3,000 barrels Pork and about 300 cks of Bacon, was disposed of by auction, at the Merchants' Exchange, and the profits arising from the sale devoted to charitable purposes.

The crop of the past year (1860-'61) was materially affected by the severe drouth experienced in many sections of the hay producing country during the latter part of the season, and the yield proved to be light—indeed, far below the average of former years. Under these circumstances, and with no prospect of a decreased consumption, it was confidently anticipated that p ices would rule high; and during the fall months there was a very marked increase in the speculative demand, and some of the heaviest transactions in the article on record transpired in various portions of the West. The past winter, however, proving to be quite mild and open, affording excellent pasturage for stock throughout the entire Southern country, there was a very considerate decrease in the demand and consumption, and, so far from the sanguine expectations of speculators as to high prices being realized, the article ruled at uniformly lower figures than for several previous years. A glance at the table of prices hereto appended, will show that the average price from September 1st to the latter part of April, when apprehensions of a blockade upon supplies began to be entertained, was a fraction under $24 per tun, and even when, a few weeks later, it was known with certainty that no further shipments would be made to this point, so well was our market supplied, that only a slight advance took place. It will also be seen that there were only slight fluctuations in the market during the first five months of the year, and those occasioned entirely by the movement of supply and demand, but that, during February, March and a portion of April, prices fell to $17 @ $18 for prime Timothy—the lowest point of the season. This result was produced by large receipts and the accumulation of unwieldy stocks, in view of which, holders modified their views, in order that the market might experience at least temporary relief. In anticipation of an early restriction of supplies from the upper country, a brisk demand sprung up during the last week in April, and prices advanced rapidly, until, on the 30th, sales were made at $28 @ $30 per tun for prime, and at $22 @ $24 for common. Stocks being ample, and the country demand having been pretty generally supplied during the season of low prices, the market experienced little or no change during the two following months, but ruled steady at $26 @ $30 for prime, from levee and store. The liberal demands subsequently expressed by army contractors and others, enhanced the price, early in June, to $35 per ton for prime, which figures have continued to rule, with but slight variations, up to the present time. The prospect for fall and winter supplies, with a continuance of the present blockade, are not of the most flattering character, and it behooves farmers and consumers generally to exercise the utmost economy in the use of the article.

TABLE—Showing the Weekly Prices of Hay (from Levee) throughout the year. DATE. PRIME. COMMON. Sept. 7 $22 50 @25 00 $20 00 21 00 “ 14 . . . . . . . . . . “ 21 . . . . . . . . . . “ 28 . . . . . . . . . . Oct. 5 22 00 23 00 20 00 — “ 12 25 00 26 00 23 00 24 00 “ 19 28 00 30 00 25 00 26 00 “ 26 27 00 28 00 24 00 25 50 Nov. 2 28 00 29 00 24 00 25 00 “ 9 26 00 27 50 23 50 24 00 “ 16 25 00 26 00 22 00 23 00 “ 23 24 00 25 00 21 50 22 00 “ 30 22 50 23 00 20 00 21 00 Dec. 7 23 00 25 00 21 00 21 50 “ 14 22 00 24 00 20 00 21 00 “ 21 22 00 — 20 00 — “ 28 . . . . . . . . . . Jan. 4 . . . . . . . . . . “11 . . . . . . . . . . “ 18 22 00 22 50 20 00 21 00 “ 25 . . . . . . . . . . Feb. 1 . . . . . . . . . . “ 8 20 00 — 18 00 — “ 15 . . . . . . . . . . “ 22 17 50 18 50 15 00 — March 1 17 00 18 00 14 50 15 00 “ 8 . . . . . . . . . . “ 15 18 00 20 00 16 00 17 00 “ 22 17 00 18 00 14 00 15 00 “ 29 18 00 20 00 16 50 17 00 April 5 . . . . . . . . . . “ 12 20 00 21 00 NOMINAL “ 19 21 00 22 50 . . . . . “ 26 28 00 39 00 . . . . . May 3 24 00 25 00 . . . . . “ 10 25 00 27 00 . . . . . “ 17 25 00 26 00 21 00 22 00 “ 24 28 00 30 00 22 00 24 00 “ 31 28 00 30 00 NOMINAL. June 7 . . . . . . . . . . “ 14 . . . . . . . . . . “ 21 30 00 35 00 . . . . . “ 28 35 00 — . . . . . July 5 . . . . . . . . . . “ 12 . . . . . . . . . . “ 19 . . . . . . . . . . “ 26 . . . . . . . . . . Aug. 2 35 00 — . . . . . “ 9 35 00 — . . . . . “ 16 . . . . . . . . . . “ 23 . . . . . . . . . . “ 30 32 00 35 00 26 00 28 00