The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1874-06-12
.Il.e Co.lor Conye,,.,on.

chairman OF the Committee on Permanent
Organization, reported In favor of q perma.
nent organization to be known as the Ma.
tional Cotton Exchange, the present officers
TO hold over for twelve months; recommend.
ing the formation Of Exchanges oil over the
country; Exchanges representing net re-
ceipts OF 25.O0O to 100000 bales yearly to
have one Delegate and one vote in the gene
raj Convention, with an additional vote for
every 1000 bales; and Exchanges REPRE-
scntipg over 100000 bales to be entitled to
Two delegates, with one vote for every
100000 bales represented.
The report was amended by adopting as a
basis Of representation that each Cotton Ex-
change handling 10000 bales or more shall
be entitled in the National Board to two DEL
egates. and those Exchanges handling more
than 100, 900 bales shall be entitled to au ati-
ditional delegate for each 100000 bales of ad-
dltional receipts. The report as amended
was adopted.
sundry committees to report at next an
nual meeting were appointed.
The Norfolk Exchange shall report the
condition of the crop in Virginia and certain
counties named in North Carolina.
The report also recommends that interior
towns named therein shall give every Friday
at noon the receipts Of cotton, gross and net.
and shipments of cotton for the week also,
the stock on hand, all receipts to be consid-
cred net when not coming from some one of
the interior towns named in the report. The
rainfall and average temperature ia also to
be kept in interior towns and telegraphed
every Friday to New Orleans.
The report was received and adopted.
Mr.. William Whitlock, from the Commit.
tee on Domestic and Foreign Bills of Lading,
submitted report on the subject of re-
clamation for false and fraudulent packed
cotton and claims thereon. False and fraud
ulen:ly packed cotton shall be defined as fol-
lows Such bales rs may contain any foreign
substance, water-packed bales. or bales con-
tanning damaged cotton in the interior with.
out any indication Of such damage upon the
exterior of the bales, and such bales as are
heated and composed Of good cotton upon
the exterior and decidedly inferior cotton in
the. interior Of ibe bale in such manner as
not to be detected without opening the bale.
Forms of certificates for such irresulari-
ties in the packing of cotton, applicable to
all places for its distribution, are appende d
to the report. The certificates are to be for
warded to the European markets as those
adopted by the National Convention of Cot
ton Exchanges, and that hereafter claims for
false or fraudulently- packed cotton must
conform to them, otherwise they will not be
recognized. Adopted.
Mr.. w. L. Trenholm. Of Charleston, from
the Committee on Country Damages and
Uniformity in Biles, recommended that 4
special committee be appointed, with liberty
to confer with the Liverpool Cotton Bro
kcrs' Association, and the Liverpool Ship
owners Association, and all similar associa-
tons, with view to the establishment of
rules, ETC., for the baling and boxing of cot
ton, dimensions Of boxes, dc. The commit
tee recommend that producers use greater
care in gathering and handling cotton, and
such as will prevent the runous mixture OF
different grades, clear and trashy, wet and
dry cotton in the same bale, resulting in loss
to the producer and buyer; that producers
be enioined to provide suitable shelter for
cotton; that different Exchanges provide
for and enforce the prosecution OF losses OF
fraudulent or falsly packed cotton that may
come to their knowledge; that the several
associations memorabilia their respective LIE.
gislatures to enact laws to compel railroad
companies to issue receipts tor All produce
offered them at their regular stations for
transportation, and that they be required to
provide such shelter and platforms as may
be necessary to protect the same from eX-
posure to the weather or the depredations
of cattle. Adopted.
Mr.. Chatiee, of New Orleans, chairman OF
the Committee on ClassiticationS, recon-
mends uniform classification of cotton
throughout the United States. to be called
the standard American classification, and
that all Cotton Exchanges appoint an OK
pert, who shall meet ut some point TO he de-
signated on or before the 1st OF September,
when they shall make classification that
shall be the American standard, which shall
be adopted by all American Exchanges, and
official quotations from and after the lst
of October next shall be based on types
prepared and established By said Committee
on Exports, the types to represent the ioi-
lowing grades-Yiz.: Good mldd'lng, mid
ding, low middling, good ordinary, ana or
binary. The Committee on Exports SHALL lN
the price to be charged for the same, not to
exceed five dollars per set. The committee
also recommend the beam-scalcs Tor weigh
ing, and that all cotton bought or SOLD be
weighed on the same. Adopted.
The Committee on Exports Will meet IN
New York on the 1st September. DE-. DOS
well. of New Orleans, is chairman.
The place and time of meeting OF the next
Convention is left to the officers of the EX'
change.
The Committee on Telegnphy submitted
4 report which elected prolonged discus
zion, and the whole matter was referred 10
the officers Of the National Exchange TO ne:
gotiate for the transmission OF commercial
reports.
at 10 O'Clock tonight the Convention adj
iourned sine die. Many delegates leave III
the morning; others remain TO inspect the
canal and accept the hospitalties OF citizens
at grand banquet.