Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1873-12-14
THE COTTON EXCHANGE.
objects and Purposes of 1.-THE Prest
dent and other Ohicsrs-The Crop
and the Barkef.
kilograms from other Cotton Markets
Memphis CIassffieatEOns Type
Samples, Etc.

AS already known, the Memphis cotton ex-
change, with over seventy subseri bers, has
been organized, and fled a petition in chan
cery Tor incorporation. The laudable ObJects
in view deserve some mention, more especi.
ally as such Will rebound to the commercial
interests Of this city. The president, Mr.. "
B. GalDreath, Is a gentleman of untiring
ability, and the same may be said OF nearly
all the members composing the exchange
which has been iDaugurated with unprece-
dented favor. W hen the exchange commences
operations many benefits Will be de-
rived thereby, and our mercantile men
as well as planters, VIII soon learn how to ap-
pTeciate its objects, among which will be TO
furnish, In the quickest and most compre-
henstYe manner, every item OF Information
that can be of advantage TO the factor or the
buyer, either for domestic or foreign account.
This will be done hourly, by telegraph, ana
all of the various details that prove Of interest
or advantage will be preserved for reference,
in the most desirable and concise form. An
other object OF the exchange will be
20 adjust, by different committees, all
controversies that may arise between
members, buyers and sellers, in the
regular course of business. Not only
will this be done, but a constant aim will be 10
establish just and equitable principles, uni
form rules and regulations, standards for the
classification of cotton, which will govern all
sales in this mark {, thereby giving an en-
Jlrely reliable QuOtatiOn-liSt every day. The
rules will govern all transactions connected
formation touching on, or affecting the mar
ket, Will be preserved and disseminated.
O06 OF Inc many advantages sought Will
be TO decrease the risks and annoy
Ances incidental to the ccttOn-trade, and
thereby facilitate not only the transaction OF
out increase It's volume. TO the planters, the
exchange will be invaluable in furnishing at
regular and frequent intervals from ths time
Of plOwing, until the crop is baled for market,
reliable statistics as to the acreage planted,
the amount Of mule force, number of hands
employed, condition of the stand, and so on
through the various stages. This viii enable
the planter as well as the merchant to form an
tall Into HHNsaN
and the course OF prices. To this end corre-
spondence with reliable planters and buyers
viii be sought in every county, town and ship
ping place in the country throughout the ca
tire cotton region tributary to Memphis.
These facts will be collected by the commit
tees and published Semt-weekly in tabulated
forms. The condition OF the weather, the
amount Of rainfall, the effect upon the soil,
etc., will also constitute an important feature
Of these reports, and in this connection the
Signal-service bureau VIII be called upon for
generous assistance. The local statistics will
embrace daily receipts OF cotton up to ten
o'clock in the morning and at noon from all
sources, and shipments similarly made up,
together with an accurate statement of the
stock on hand. The rooms are now being
lifted up in the building at the corner of
Main and Madison streets with large black
boards, ahording a surface OF two hundred
and hity square feet, and on this every hour
or half-hour will be posted all telegraphic
information received by any cotton exchange
In other cities. These reports will give the
daily movement in cotton, gold and ex-
change, frelghtS steam and rail- in New Or
leans, New York and Liverpool markets. The
movements of cotton in all the principal
home markets, including Savannah, Charles
ton, Mobile and Galveston, will be given with
the above reports The stock and visible sup
ply of the entire world will be given weekly
at the same time that they appear in New
York or New Orleans. The markets of Lon
don, Paris and Frankfort will be regularly re-
price of cotton. In order to facili-
tate the purposes of the organic alton
the classification and quotation committee
viii meet daily at twelve o'clock noon and
four in the afternoon TO rive official quota
uOnS Of the market for the past tWenty-fOul
hours, thereby furnishing reliable informa-
ton 10 the newspapers. sfhis is to prevent, as
far as possible, any dishonOrable transactions
to give tone and dignity to this market. This
Will give Memphis cottons that distinctive
position in the markets of New York and
Liverpool which their superior quality has
long deserved. Owing to the want of claSsifi.
cations and settled quotations, the Memphis
cOttons have not been allowed quotations in
the above markets However, We feel assured
that Memphis middlings viii soon be quoted
in New York aud Liverpool the same as the
Texas, Florida, Mobile and New Orleans mid
dlinss. As a matted OF convenience. type
samples will be kept not only Of N phis class
ifcRtions, but also OF New Orleans, New York
and Liverpool. Controversies as TO the GU al
ity OF classification can in this way be salts
fac ctorily settled. We might enter at len 9Th
upon the many undeniable advantages this
exchange VIII give 10 Memphis, but will de-
fer further facts TO a more appropriate time
Mr.. John :. Toof, the efficient superintend-
eDt, will devote his energies to the exchange
and, as he is a thorough business man, will al
once make the influence of the exchange felt,
and that, too, beneicially, by our cotton men
as well as by the planters who sell in this
market. He will be assisted by MIR. p. W,
Semmes, an old and well-known citizen,
whose long experience and correct judg-
ment will prove invaluable TO the in
terests of the exchange. Mem
phis is the third cotton market
in the Union and should sustain first-claSs
cotton exchange. Many viii soon learn 20
value this exchange which has been inaugu-
rated by reliable, active business men, anu is
now on a solid basis. Within a few weeks the
membership will probably number one hun
dred or more. The following gentlemen CON-
pose the committee on transportation: A.
j. K. Landauer, K. NJ. Apperson. W. W
Guy, W. 2. Proudft and Robert Gibson-the
duty of the committee being 10 take cognis-
aDce of all matters affecting freights on cot
ton to or from Memphis