Lexington union. (Lexington, Miss.) 1838-18??, 1841-05-29

was too much 10 pocket On a small list Of
800 bales, he would perhaps, go TO work
and spend lev hours IN making another
average. He would perhaps begin by
adding one quarter of cen, to each, but
then he would find that the total would
overrun the amount he had received, by
which he would lose 100 dollars; or, in
other words, the planters would get 100
dollars more by this average, than that
for which their cotton sold. To this the
Merchant would have two objections -
FIRST, II would be better, 10 his opinion,
that the planters loee 1875 dollars, which
they never possessed, than that he should
lose 100 dollars. This view would have
additional force with him, when he would
say 10 himself, "what people do not know,
Dies them no harm"
In the next place, he would be satisfied
of the injustice Of allowing Mr. Lamb one
fourth OF a cent more than the original av-
erage, while Mr. Swelledhead had only
the same amount added to his. Mr.. S.
ought, IN justice, to have his average IN
creased in the ratio that l2l bears to II.
But this would lead the merchant into a
tedious operation in vulgar fractions, and
as he had already .ak'n a grea, deal Of
trouble in the averaging, he would cor.
clude i, would be small aud vulgar bu.
siness to attempt it again. He would
then carry the SIS TO the credit side oil
"suspense account" and hush up his con
science b, telling it that he had made an
admirable sale Of the cotton, better than
any other III town could have done, and
from his knnwlrdge OF his customers, he
knew tina. they would all he pleased with
his returns. By the "lls, SYSTEM" and at
this rate, a commission Merchant who
sud 10000 bales Of colt"n 10 a season
would hnd his suspense account 'plrnuIn'
towards Of 10000 dollars. All this
would be avoided il everv mans cotton
was sold according to ITS merits, rs il is
done in all markets except New Orleans.
This item OF the "suspense account" ekes
out the commission Of "a per cent, the
drayage, storage, &c.
Most OF the buyers and the northern
end foreign agents prefer purchasing by
the list, as 1t affords them an opportunity
OF taking advantage Of their friends 10 pro.
portion 10 the confidence that is placed IN
them. And by wav Of illustration we will
suppose Messrs. Drummer + Co., who
have an agency in New Orleans and a
partner in Liverpool, for beating up bust
ness; have procured the following orders
MIR. Peter Twist, Of Wigan, spinner,
400 bales "fair" without limits.
Mr. John Mule, Of Stock port, spinner,
500 bales Of midIing fair, not to cost in
Liverpool over Cd.
Mr.. Thomas Throstle, Of Boston, spin
ner, 200 bales Of good ordinary, without
limits.
Mr.. Richard Screw, cotton dealer, of
Manchester, 500 bales, not to cost over
Cd. for lair, without the privilege Of taking
other qualities in proportion.
When these OT1ers are received in New
Orleans the price ofIair cotton is 8 cents,
freight l Cd, anG exchange 10 per cent,
which b, the usual mode Of estimating the
cost would sand in 6d. laid down ia Liv-
pool.
Messrs. Drummer & Co.., enter the
market and purchase a list Of 1900 bales
"a cents, which classes out az follows,
VIZ:
100 balls g'df'r worth l0c., 10000 lbs $4,000 90
500 4" 9 100000 I" $4,000 90
800 "mdlng. pr" 81 100000 " $1,000 90
200 " midling, s $4,000 " 5000 90
100 "g'd Ord'y" "A $4,000" 5000 90
1900 bales SCI, 500 90
Average price 81 and snail fraction
over. Aud ;hry dispose ofas follows:
P Twist, 400 far, 10000 9lc. SIS, 200 90
Mule, 500 tn. fair 100000 81 1850 90
T Thros'le2OO cd ord $4,000 8 $500 90
n Screw, 100 fair, 10000 8 5000 90
300 m. fair, 10000 81 10000 90
&c 100 mdlng 10000 8 1890 90
Consigned 10 their partners, Mcsss.I
T. Drummer & o., Liverpool, for}
sale on their account.
400 good fair, 10000 . 1900 on
100 midling, 10000 n 10000 90
1900 $4,000 90
In the abnve calculation we take the
bales at an average Of 400 lbs, and the
prices at the market value Of the day, or
the cost of the purchase.