New-York tribune., 1874-06-12
COTTON DEALERS IN COUNCIL
A NATIONAL EXCHANGE ORGANIZED.

A NATIONAL EXCHANGE ORGANIZED.
| A PERMANENT ORGANIZATION OF THE VARIOUS COT
Ton EXCHANGES AGREED UPoN-sEvERAL RI
PORTS SUBMITTED ON TOPICS INTERESTING tt
THE TRADE.
AUGUSTA, Ca, June 11.-The Cotton Ex-
change Convention met at O'Clock. c. ". Cunningham
OF Savannah and A G. Mills of Galveston we're ap
pointed Assistant secrstaries and j. W. .Lathrop OF
Savannah Chairman.
The Committee on Permanent Organization reported
IN raVor OF permanent organization TO be known the
National Cotton Exchange the present officers 20 hold
over Tor tveee months. They recommended the for
naton OF exchanges all over the country
exchanges representing net receipts Of 5000 TO
lo'oW oales yearly 10 have one delegate and
one vote In the General Convention, with additional
'oe lor every 10000 bales and exchanges representing
over 100000 bales be entitled two delegates, with
one vote for every 10000 bales represented.
The report vas amended, motion Of Mr.. c. w. Row
Land OF Cincinnati by adopting the basis OF repre-
sentaloh that each Cotton exchange handling $4,000
bales or more, shall be entitled TO two delegates in the
National Board and those Exchanges shandIing more
than loo bales shall be entitled to an additional dele
amended. was adopted.
Mr.. Z. P. Baker Of New-York moved the appointment
OF Committee TO draft constitution for the govern
ment OF the National Cotton Exchange 70 report at the
next annual meeting. Adopted, and Mr.. John Phelps Of
New-OrleaDs, Prssiden. OF the Convention, wss sp-
pointed Chairman Of the Committee,
william whitlock OF NewYork, Chairman OF The
COMMITTEE on Domestic and Foreign Bills OF Lading
recommended that this Convention advocate the re-
qurement by the shipper from all masters Of vessels
transportation agents the entire number Of all the bills
OF adng signed for any particular shipment specified in
the oody OF the copy OF the bills Of adng thus
obtained to De handed TO the captain or agent and in
dorsed The Captains Copy, Agents Copy, not TO be
negotiable. Adopted.
The same Committee submitted report on the sub
ect OF reclamation for false and frsudueutly packed
cotton, and claims thereon. False and trauduIently
PACKED cotton snail be defined as folowsi
such bales may contain any foreign substance.
water packed bales bales containing damaged cot
ton IN the Interior without any indication OF such dam
age upon the bales and such bales
plated OF composed Of good cotton upon the exterior.
and decidedly Inferior cotton the interior OF the bale
IN such manner not 10 be detected without opening
the bales.
Forms of certificates for irregularities in the packing
OF cotton, applicable to all places for its distribution.
are appended to the report. The Committee recou-
mends that copies OF certificates be forwarded to the
European market those adopted the National Con-
venton OF Cotton Exchanges and that claims for false
or rfrauduentypa packed cotton must conform to then'
otherwise they Will not be recognized. The report was
adopted
". l. Trenholm Of Charleston. Chairman Of the Com
mitiee on Country Damage and Uniformity In Bales.
recommends that a special committee be appointed,
Win authority to confer with the Liverpool Cotton
Brokers Association, and the Liverpool snip Owners
Association, and all similar associations. with view TO
the establishment Of just rules. Greater attention to
the proper preparation and bang OF cotton requested
The Committee suggests the following standard:
Cotton to weigh $50 to 800 pounds 10 the bae press
boxes u be constructed Of the following dimensions
length four feet six inches and width two feet three
Inches SIX ties 10 the bale.
The Committee having considered the communication
from the Galveston Exchange TO the New-York Ex-
change and the latter body laid before this Ccnven
on recommend the adoption of resolutions urging upon
producers greater gathering aud handling cot
ton. such as will prevent the rmnous mixture OF
different grades cleaned trashy wet, and dry cotton
IN the BALE resulting IN loss TO the producer and
that producers be enoined provide suitable
shelter for cotton; that the different Exchanges
provide for aud enforce the prosecution
OF cases OF fraudulent falsely packed
cotton that may come their knowledge; that the
several associations herein represented memOrialize
their respective Legislatures enact laws 10 compel
railroad companies to issue receipts for all produce
offered their regular stations for transportation
they required ito sprovlde such shelter and
platforms as may be necessary to protect the same
from exposure weather cepredatlons of cattle
Adopted.
John Chafee OF NewOrleans. Chairman OF tho Com
mttee Classifcations reported az follows:
We recommend the adoption OF a uniform classifica
ZION throughout the United states 10 be called
the standard American Classification and that the Con-
request all cotton exchanges TO appoint an
pert, who shall point 70 be designated
before the first Of September when they shall
make classification that snail be the American stand
ard, which shall be adopted by all Ameri-
can exchanges, and Official quotations. from
and the first day OF October next
shall be based types prepared and established by
said Committee OF Experts the types TO represent The
following grades. Good MddlnR, Middling, Low
MIddling Good Ordinary, and Ordinary The Commit
OF Experts shall tx the 10 be charged for the
same. 10 exceed & per set The Committee further
recommend the eXpedlency Of adopting the beam and
scales for Weighing and that all cotton bought or sold
be weighed on the same. The report WAS adopted.
The Committee OF Experts will meet in NewYork on
Sept. l. Mr. J. Y. Dodswel of Neworleans Is Chair
man. The time and place OF the meetingof the next
Convention 10 left TO the officers Of the Exchange.
The Committee Teegrsphy submitted report
which excited prolonged discussion. The whole mat
referred the officers of the National Exchange
70 negotiate for the transmission OF commercial
reports.
At 10 O'Clock tonight the Con venOn adjourned stHe
de. The New-YOrk delegates leave ia the morning.
The Others inspect the canal and accept the
nos spltalltles Ol The citizens at a banquet.