Cotton excitement.
--There was considerable excitement among the cotton speculators at Memphis on the 2d inst. The price was getting lower and lower, and the reason of it was that it was understood there were about two million bales of the staple at Atlanta, which place was expected to fail into the hands of Grant within a short time. In addition to this, correspondents in Banks's army at the month of the Rio Grande, had written that 250,000 bales were there awaiting shipment. Of course the natural result was a decrease in price. Two million and quarter bales of cotton thrown on the market would be likely to overstock it, for the moment at least.
