The New York herald., 1874-09-02
THE COTTON CONVENTION.

Second Days Meeting-Exam OF
Type Sam ples-A Merchant on Pros
poets and Profits-The American sta nd
ard Agreed Upon-Adjournmento Of the
Cotton Exchange Over TO-N1orrow and
. Grand Excursion.
According to arrangement the delegates to the
Cotton Convention met yesterday morning az the
once OF Messrs. Easton Co, No. 14l Pearl street,
and proceeded to the upper moor OF their warehouse
to examine the different samples OF cotton re-
ceived from all parts OF this country, as well as
from Liverpool AS heretofore stated, the object
was to establish an American standard 80 that
the trade should be relieved from the confusion
and embarr assments resulting from the difference
in grades In various places. This, OF course, re-
quired nice Judgment and discrimination, but had
become absolutely necessary from the tact That the
interior cassihcatlons are and have been 30
dlnerent from those OF New York. For example
Charleston. 8. c., . large shipping point clsssi-
fes very nearly the same as Liverpool. TO which
port she sends her largest supplies. The cotton
there classed as slow middling" would, according
to the more strict New York classification, only be
good ordinary,n and while there sometimes
seems to be q margin Tor shippers to transmit
their cotton to this market from the South-as the
quotations lor the same grades seem TO leave
margin Of prO1t-the shipper discovers, when his
cotton arrives here, that 1t Is q grade or two
fore, he misses his prohts, perhaps actually sus
tains Q loss. 1t was mainly to correct this dis
crepancy that the Copvention met, and their
labOrs were watched with the closest interest BY
all those who have transactions IN this great
staple. The committee were fOun0 by HERALD
reporter nard work with their assistants IN ex-
amining bundles OF cotton, consulting IN reference
to them, and noting exceptions and conclusions.
IL was q busy scene The samples were spread
out over three or four long tables, extending the
whole length OF the warerOoms, and little knots OF
q
another with the minutest care. while discussions
were going on as to whether tne type SAMPLES PIE;
good ordinary" '.ow middling,' - "middling'' or
"good middling." Mr. Doswell the President Of
the Convention, was active everywhere IN con-
sultatiOn with his c0,JfereS, and explained to the
reporter the great necessity there was for just such
not know whether they could complete their
labors in time to make report in one day, but he
so A. be M wsh the o E
change after the subcommttees made their re-
ports. In establishing an American STANDARD ne
thought their conclusions would prove em nently
satisfactory to the whole trade.
A MERCHANTS IDEAS OF THE NEW CLASSIFICATION
AND THE CROP.
In conversation with one OF the onhcers Of the
Cotton Exchange--and large shipper-uhe HERALD
representative learned that there was much diner G
proposed classification. ''You see,n said the mer-
chant, "the cotton spectators surely will not Ike
the new rules, which Will perhaps be adopted after
october l. They nave-rnany OF them at least
made contracts up to next June for the purchase
seriously embarrassed II the new ciassnCations
alter those grades and make them adhere to the
REPoRrKR.-But I suppose all disputes arising
from this cause will have to be settled as they
settle differences on tine stock Exchangef
Cotton Exchange; but it viii cause much dlniculty
never tneless, II tney depart very materially from
the old classihcauOns; but ] must say very many
members do not take this View OF IT.
| THB COMING CROP.
RRPORTER.-YOu saw report short time since
| n In a 4