The herald and mail. [volume] (Columbia, Tenn.) 1873-188?, 1874-09-18
COTTON SAMPLES.
Action of the Recent Convention at
New York.
New York Herald Sept 2

Action OF the Recent convention al
| New York.
New York Herald, Sept 2.
According to arrangement the dele
gates to the cotton convention met yes
terday morning at the office of Messrs.
Easton and Co., No. 141 Pearl street,
and proceeded to the upper floor of
their warehouse to examine the different
samples of cotton received from all
parts of this country, as well as from
Liverpool. As heretofore stated, the
object was to establish an American
standard, so that the trade should be
relieved from the confusion and embar-
easements resulting from the difference
in grades in various places. This, of
course, required nice judgment and dis
elimination, but lad become absolutely
necessary from the fact that the interior
classifcations are and have been so diff
ferent from those of New York. For
example-Charleston s. c., a large
shipping point, Classics very nearly the
same as Liverpool, to which port she
sends her largest supplies. The cotton
there classed as flow middling" would,
according to the more strict New York
classification, only be "good ordinary,
and while there sometimes seems to be a
margin for shippers to transmit their
cotton to this market from the south-as
| the quotations for the same grades
seem to leave q margin of proft-the
shipper discovers, when his Gotten ar
rives here, that it is grade or two low
err than the New York standards, and,
therefore, he misses his profits, or per-
haps actually slstains a loss. 1t was
mainly to correct his discrepancy that
the convention met, and their labors
were watched with the closest interest
by all those who have transactions in
this great staple.
1t was a busy scene. The samples
were spread out over three or four long
tables, extending the whole length of
the warerooms, and little knots of ex-
pert delegates were examining one bun
die after another with the minutest care,
while discussions were going on as to
whether the type samples were "ordi-
nary" or "good ordinary" ''strict good
ordinary" slow middlipg," "middling"
or good middling." Mr.. boswell, the
president of the convention, was active
everywhere in consultation with his
confreTeS, and explained to the reporter
the necessity there was for just such a
classifirat'-~ &C rnsv oppose d to make.
He did lot know whether they could
complete their labors in time to make
a report in one day, but he thought so.
At all events, it was not likely the sub
ject would be discussed with the cotton
exchange after the subcommittee made
their reports. In establishing an Amer
lean standard he thought their conclu-
sions would prove eminently satisfactory
to the whole trade.
In conversation with one of the Off
GERS of the cotton exchange-and a
large shipper-the Herald representa-
tive learned that there was much diff
ference of opinion in the trade as to the
utility of the proposed classification.
You see," said the merchant, "the
cotton spectators surely will not like
the new rules, which will perhaps be
adopted after October 1. They have
many of them at least-made con.
tracts up to June for the purchase and
sale of different grades. Now, they
will be seriously embarrassed if the
new classiications alter those grades
and make them adhere to the American
standard"
Reporter-But, / suppose, all dis
putes arising from this cause will have
to be settled as they settle differences
on the stock exchange.
Merchant-Precisely By arbitra-
ton of the cotton exchange but it will
cause much difficulty, nevertheless, if
they depart very materially from the
old classifcations but I must say very
many members do not take this view
of it.
Reporter-You saw a report a short
time since in the Herald as to the pros
poets of the cotton crop should that
report be materially altered?
Merchant-There are wide differ
ences of opinion in reference to that.
If DO not mistake, the estimate at
that time was a production of over four
and half million of bales. I do not
think it will be so large. The "bnlls"
say the reports for the last month are
very discouraginp, the drought has
been severe, and will lessen the crop
materially the "bears," on the other
hand, who argue for a large crop, and
consequently low prices, saying tn
the drought has killed the "plaguY
grasshoppers who were eating up tn
cotton, so it is "draw between their
opinions.
Reporter about the complaints
u
their bales decrease in weight by the
tricks of inspectors, weighers, etc. >?
Merchant-There is no doubt some
cause for these complaints. Cotton in
being handled here loses considerably.
The samplers go around, take out flakes
of it, throw it down with the exclama-
ton that cit is dirty" and pull out
some more. Somebody, probably
confederate, follows him and bags the
rejected portions. You can judge for
yourself whether this business is a lu-
crative one.
Yesterday afternoon the committee
finished their practical labor in select
ing the American standard grades of
cotton. The type samples Of each
grade will be sent to every cotton ex-
change in the country, thus insuring
uniformity in dealings.