New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-09-01

the same grade, but that the same often
varies in price and where there is range
the fact should be presented IN Jusnce 20
the factor who sells al the insi0e rate, as
well as Of the buyer who purchases at lhe
outside. This difference is greater at some
times than at others, and is caused by an
actual variation in the market as well as oy
disagreement in classification among
brokers. Hence crcp may be divided
between two factors and be sold on the
same day, and even at the same time OF the
day a: difference of Is q lac. Planters
who are entirely independent Of their
factors may order their cotton held, unless
it meets with highly satisfactory rates, the
factor will consequently ask extreme
prices and refuse TO cell for less. In
other cases the planter orders his cotton
sold as promptly as possible at the Market
price, to cover previous advances. IN TINS
instance the factor will be JUSTIFIED IN ac-
ceptirg the ruling rates-the figures at
which more than half of the sales are mace
although they be Is a Ac less than other
sales, OF considerable number and magnl-
tude. No report Of the market can fairly
represent it that does not give the range
nor would any other do justice 10 the Iac-
tor who sells at the inside rate, or the
broker, who buys at the outside. ACopt-
ing any other rule. the planter, even II IN
courtesy he made 10 comment on the mat
ter, would 1eel that his crop had beer soid
too low. or the shipper, though equally
courteous to his broker, might suspect or
believe that he had been treated unjustly
The necessity Of this comprehensive sys-
TEN, By which the market is fully repre-
sented. led the trade before the war
to add strict iniddling TO the
grades previously II vogue. ana
like necessity has since competed
us to enlarge our quotations by the acdl-
ton OF strict ordinary, strict good ordinary
and strict low Iriddllng. A free and frank
consultation with many of our factors has
confirmed our views on this subject and we
feel quite confident that they meet general
approval. Whether the quotations be &C
curate or not must depend on the diligence.
judgment, discrimination, experience and
intelligence of the reporter vino with all his
industry and fidelity will sometimes be de-
ceived or Eisapprahend the information
given To obtain accuracy. so iMportant
in reports which are accepted elsewhere as
a true statement OF the market, i ia essen
tia! that the reporter should be sustained
by the cordial support OF both factors and
brokers, in relation TO which II affords US
pleasure 10 make orr sincere acknowledge
menta. Without this aid our Ciscrust OF
our own judgment would have made our
Exchange gives only single rate for each
grade, which applies 10 its official types
kept in type cases for examination by lis
members. When the Exchange was organ
lied both the single grade and the type
were regarded rs necessary to promote
prompt and satisfactory settlements OF
contracts. This. however, has not con-
licted with the time-honored custom Of the
press, in giving the principal range,
avoiding exceptional extremes, fer each
grade respectively. IL connection with this
matter it must be observed that the range
varies with the demand ard the crop.
When there are buyers for different mar
kets, some Of which require rigid, while
others admit CT liberal or even loose ciassi-
fcation, the range IS widened By tie de-
manG. And thus too when there is much
irregularity in quality and the offerings
present several styles of the slme grade,
the range is affected by the character Of the
crop. Giving fair consideration TO the
whole matter, il must be manifest that
it can not he determined satisfactorily TO
the public by any arbitrary or infex!b!e
rule, but much must be LETT 70 the lntelli-
gence and discretion OF the reporter, and in
our duties as such we feel quite confident
that the trade will award TO US the credit OF
fidelity and independence. Finally 20 make
our reports as comprehensive as possible, as
well as 20 co justice to the labors OF the
Exchange committee on quotations, to
whose opinions we have always rendered
the Difference due 20 their intelligence and
impartiality in the discharge OF their deli
cate and respo1 sible duties, we have given
the Exchange single rate figures III cOnnec-
ton with our more comprehensive range.
SUGAR-Reterrng 70 our preliminary re-
marks on this leading Louisiana product,
it must be observed that the general result
Of the trade has been disastrous, the crop
showing falling OF OF u 900 hhds, or about
20 T. cent, from the previous year, IL, 700
hhds from the year before. and near =
s., 900 from 1870. TIE receipts at this port,
constituting our active movement, were
propOrtionately untavorable, showing a
| falling Oft from last year OF nearly $4,000
hhds-17 600 against nearly $4,000. Al the
commencement of the commercial year the
| prospect was far from being SO discouraging.
! The stubbie was backward, its growth
/ having been checked By late and unpro-
| pitious spring, but although Is stands were
poor, vet in most cases the roots were
sound, and it was hoped it would yet re-
cuperate and show a fair degree Of vigor;
| bat, with the exception OF the &eubDle,
everything favored a Sarge cropo a
wider acreage had been planted from
| seed cane which lad been we'll preserved
| during the WINTER more SO in fact Chan for
many years Ihe lands moreover were
reported IN very good condition, the cane
| came up early and was generally well
! advanced, The prospects therefore, rested
mainly on Che plans cans especially among
those who had bat tistle hope Of Che ssubble
| Above aiIs Labor presented mose encoucag
| ing features The hands approaching the
| necessity OF ahe reduction rha6 had Deen
made in wages and willing to make the
most of the circumstances This result has
not only disappointed the hopeful bac been
more Lnfav bic than was apprehendeG bs
! che despordir g when $e is considered how
| much ST the cost Of sugar planters, embrac
ing money aaG supplies is forwarded BY
the New Orleans factors 5S VIII be apprs
ciated, even by those who have NO familiar
| iry with the matter, how heavy the los
must be on the city trade st the CEN
mencemen; OF grinding
| The year commenced with limited stool
in the sheds, mostly beld bv spectators
while the receipts were trifing, and tn
sales, which summed up in September bou
450 hhds, were mostly on the basis Of ga
| for fair, the course OF the market shown.
very few fluctuations. The first hogsheat
OF the new crop was received on the eight
OF October from the Charenton plantation
of Mr.. E. Meynard. Indian Bend, On tn
Teche, parish Of st. Mary, who was equaN
successful in sending the first hogshead t
| AdAhoe ou OCtoocT ~, III tAe year previous
CHASING fair, this hogshead was sold to
dealer by the consignee, Mr.. Robert Hare
at the fancy price of lie. There were som
further receipts Of a few hhds yellow CLAIR
fed on the fourteenth, which cohmande'
ii l2c, after which the arrivals were NOR
liberal but met only moderate demand
and went of slowly at gao for seconds, ~
for centrifugal, and l034c for white ciarl
fed; the closing rates of the month BENZ
91ac for good fair, 100 0hc tor seconds