Folder list differs from Move To list. Why?

I’m trying to move some old emails into a single file. I am not bothered about organising them by subject.

I created a couple of folders and they show in my left hand folder list.

When I click on some emails I want to put in them my selection in Move To is different. Can someone explain why, please?
emc old files

Me again.

I actually found what I wanted much further down the Move To list.

It seems that list remembers folders that were there and later deleted.