Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1869-10-20

Important Meeting Of the thnmber
OF Commerce.

OF Commerce.
Yesterday afternoon special meeting
Of the Chamber Of Commerce was held in
the new hall to consider the cotton tie
question. President Nelson was. in the
chair, and Capt W. L. Trssk, the Score.
tary. was in his place.
The President stated the object Of the
meeting, and read the following commu-
nicstien:
7. A. Nelson. President Chamber Of Commerce;
WHEREAS, 1t is the general custom in
New Orleans. New York, Boston and
other cotton markets, that six iron bands
or ropes only are allowed on each bale Of
cotton, and when there are more than
that number the excess is taken of, or an
allowance Of two pounds for each extra
rope or band is made, we, the under
signed, buyers of cotton, respectfully pc
tition the Chamber of Commerce that the
sane rule be adopted in this market.
Colonel ]. W. Jefferson, one of the
signers, stated that cotton buyers often
sustained loss. of as much as sixty-five
cents on the bale from an excess Of ties,
and be hoped that the rule which pre-
vailed in other cities would be adopted
here, and thus enable US to compete with
New Orleans, New York and other cities.
He moved the following:
Resolued, That on all bales of cotton
sold, having an excess of six bands, or
ropes, the buyer shall have the right to
have said excess taken off, or an allow
ance made of two pounds.
Colonel W. W. Guy was in favor Of re.
visiug the entire system as to cotton fac
tors and brokers, and he moved to refer
the whole matter to q committee of
seven who shall have authority to revise
the rules and regulations governing the
sale and handling of cotton, and said
committee to report at the next regular
meeting.
D. Fl. Townsend, Esq, seconded the
motion. and made some remarks in sup
port of it. he said that planters were
preparing to put seven ties on each bale
ofcotton, and they should be promptly mo-
tilted of any new rule adopted. 1t was
due to the planters that they should have
timely notice. He hoped the rules re.
ported would not be too stringent, as it
might drive Gotten to other markets.
Col. Harrington was in favor of q re.
port at an early day.
Col. Henderson Owen said this matter
was suddenly sprung upon them, and he
did not think it should be sprung upon
the planters after they had adapted their
presses and screws to the seveh.tie bale.
If this was done it would ipjure the Mem
phis market. He thought the Chamber
should proceed with the greatest caution.
If this subject had been brought up at
the beginning of the season it might
have been different; but now, when the
planters had SO much cotton put up and
ready for the market, they ought certain
ly to be very guarded in regard to any
new rules they might make.
Colonel Guys motios prevailed, and
the President appointed the following
committee: Messrs. W. W. Guy, John
T. S,ratton, W. N. Brown, ]. ]. Raw
lings, 2 Warburg, J. W. Jefferson and
N. Corona.
Colonel Harrington stated that he
learned from Msjor Townsend that there
would be much opposition to the mer-
chants tax bill, and ell information on
the subject should be forwarded. He
moved that the Secretary be instructed
to communicate with the Secretaries Of
other Chambers of Com MERGE in various
parts OF the country relative TO the mat
ter of taxes on merchandise. The mo-
ton was adopted.
The President urged the merchants
present to furnish all the information
they could to the Secretary, to be for
wsrded to Mejor Townsend.
The meeting adjourned.