The New York herald., 1874-08-22
COTTON.

Exchange ana Ot0exe-Ino AU0ses ~
IL Proposed to Correct--ssvfngs That
Wfll He ERected-ImPoFtant 20 ship
pers.
The abuses and difficulties attaching TO the
present system of storing, pressing ana shipping
OF cotton, together with tine frauds that have beer
! perpetrared upon bankers and others, arising out
| or the manner In which cotton receipts are OBJ
Ia ned and used, has for some time occupied the
attention Of the members OF the cotton Exchange
In New York. ana has brought about o desire on the
part OF the respectable dealers and operators In this
staple to have some plan adopted by which one
general warehouse should become the depository
OF the whole OF the cotton shipped TO this market.
II has been thought, and justly. too that could
such system be inaugurated under the direct
supervision OF the Exchange, correct and reliable
statistics would at all times be obtalnable as the
number OF bales in store, which would have tho
effect OF preventing ~~
GROSS FRAUDS
Some months since the Cotton Exchange, atex
discussing the question, placed the matter in the
hands OF two committees Of the members, viz. -
The Committee on Trade OF the Board of Man
ayers and the Committee OF Receivers,
with instructions that they should visit
such sites as were deemed suitable to the
building of such warehouses, and Offering
such facilities in the shape OF dockage, &C., as
would meet the requirements in view: This Joint
committee have been actively engaged during the
past four months in visiting the various localities
along the water points OF Brooklyn, New York,
Long Island and staten Island, where sites were
70 O. nm 9S nsssea Of who are
Ss,,s me committee II Is understood have so far
s % as as TO be sy to a. MAKE
have decided upon the site which In their opinion
secure. In order to allow the members OF the
Cotton Excnange, shippers, and others directly
leOtea locality over the others onered, the
Ts4Ous among those visit pre.sn
were MI. B: P. Baker Chairman Of the Committees
Exchange, President Of the Cheap transportation
Association and the Chairman OF the Joint com
Baawn Chairman eT Of the 81
Of the Cotton Exchange; Messrs Robert Dillon,
G. W. Blunt. Shorthand. Bartlett, Robinson, Wake.
man, Moore and others.
ton aSe course was laid pss sraisa G for the old
Quarantine landing on staten Island, but as It IS
place has undergone q vast change, and were 1t
not lor one or two old landmarks which are
nized even BY ssthe oldest inhabtant." TSs
ground has been laid out, bulxhead made,
Immediate use more detailed account, how.
ever, Is necessary IN order to explain the exact
posed to do and the advantages offered, especially
In view OF the fact that there is every reason to be-
THE CHOSEN SITE
for the new warehouses and the place where 1t 10
ropgst into the port This as We
known, adjo,ns the road leading to and from the
side by the Government Lighthouse DOCK and
runs back to Stuyvesant avenue, covering an ares
1000 eet in length. From this four piers S5 iees
wide and 400 feet long, have been built with
water at the bulkhead at low tide Is Ii feet and at
the pier heads 30 eet, being all that is desired in
this regard.
1t Is proposed to build at once are four In rumber
nearly n1s6ed while the foundations for the the
Others are already laid Each OF these storehouseS
tanning bales Of IN
partments which are bricked of from one end OF
each to be guarded anu secured BY iron doors and
shutters, making them perfectly tlreprooL Tho
Between each warehouse viii be a space spa sol Of %
ieet which Is TO be rooted over with iron girders
the cos
ION can be performed. The bulkcead IN front or
tine buildings Is also to be rooted over with glass
and iron, as likewise the piers thus afordng IA
cllities for unloading and shipping cargoes at all
sunicient for twenty seven ships to lie along
side, leaving space for loading and discharglne
lighters besides.
THE ADVANTAGES CLAIMED
for this location are many, and they appeared to
Of Staten Island the wharves would be entirely
Weather side de- the ba has aordns
Tor quick and easy shipment. The water front 10
next advantage is that snps can unload here.
owing to the extent OF dock room provided, in TWO
lyn, owing to the smallness OF the wharves, they
have frequently to remain at their bsrths dis.
for after landing 200 800 bales they have wait
until they are carted away to the dinerent ware
hold. This naturally causes them great incon.
venlence besides loss of money BY the cost Of
delay.
THE LOSS OF COTTON By STEALING
under the present system Is also very great for the
while the cotton lies on the dock, and what IL
more, follow 1t sometimes all round the city until
pounds In all rom every bale before 1t Ia reshipped,
which is considerable Item to It's owners. BY
stated, reliable statistics viii % be OF Obtained, and
further samples Will be drawn under the super.
upon which the quality can be assessed and the
certificate OF the warehouse company he endorsed
accordingly. And as these will be the only recogs
nzed warrants, describing as they will the
exact kind OF cotton represented. they win,
markets, be available as collaterals Tor loans or
other purposes, and will be as readily negotiable
such is the uncertainty as to whether certificates
actually represent the cotton they profess to.
it often occurs tnat bankers loan money on ccrtin.
Gates and afterwards md nothing IN the ware
houses 10 answer what Is called Tor. The ex-
penscs OF sampng both for salaries and the cotton
extracted VIII also be done away with for as soon
tue judges there viii and can he no question, for
1t bound to be received by the buyer and seller
alike according to the classification awarded.
SAVING Ali. ROUND
Will also occur In locating the warehouse al
staten Island lor the following reasons. ln New
York and Brooklyn, under the system OF to-day,
the cost OF carriage, warehousing. examining.
pressing. DC, from the time the cotton leaves the
ship which brings 1t here to the time It Is re-
shipped, providing the warenouslng does not ex-
ceed one month, amounts to about 81 25. whereas
at staten Island the cost OF handing would be but
twenty-five cents per balc the cost oil warehous-
ing less than twenty five cents per bale per month,
while the lightering would not be more than Is
now charged to take 1t from the press to the ship.
There would be no charges Tor landing. 1t is also
expected that by locating the stores as
vessels will come alongside the piers and
take In their cotton, thus saving to themselves
the charges for carriage or lightering, which Is .
very largo item, considering the quantity they
no. Ia IN fnai