New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-06-12
COTTON.
PROCEEDINGS of the National Exchange AT
Augusta.

Augusta, June 1.-The convention met
at eight O'Clock.
C. W. Cunningham. of Savannah. and A.
J. Mills, OF Galveston, were appointed as
sistant secretaries. j..
]. w. Lathrop, of Savannah, chairman OF |
the committee on permanent organization,
reported plan of permanent organization.
to be known as the National Cotton Tx
change. present officers to hold over tor |
twelve months.
The committee recommends the lorna |
ton Of exchanges all over the country; ex,
changes representing net receipts OF 2o,ooo
| TO 100000 bales yearly to have one delegate
| and one vote in general convention, with
aa additional vote for every 100000 bales,
ana exchanges representing over ooO,OoO
| bales 70 be entitled to two delegates and
one vote for every 100, 600 bales represented:
| The report was amended, on motion OF
| C. w. Rowland, Of Cincinnati, by adopting
as a basis of representation that each Cot
| ton Exchange handling 25, 600 bales or more
| be entitled 70, in the National Board, two
| delegates, and those Exchanges handling
more than 100000 bales be entitled to an
additional delegate for each l0U,0oo OF ad.
| ditional receipts.
| The report, as amended, was adopted:
| Mr.. B,P. Baker OF New York, moved to
| anpoint a committee 70 draft constitution
| for the government of the National Cotton
| Exchange, to report at the next annual
/
| meeting. Adopted
| John Phelps, Of New Orleans, president
| of the convention, chairman ot the commit.
| tee on the constitution, and John Watts, OF
New Orleans, chairman OF suo-comn stee,
| report through Charles H. Easton, OF New
| York. chairman of the committee on lntor-
| nation and statistics, as follows:
| We recommend the several Cotton Xxx
changes of the South to send To their cor
respondents in the country a uniform
series OF interrogatories, commencing on the
first of May and ending ON the first OF No
vember OF each year, relative 10 Planelhg:
The condition, cultivation and gathering OF
the cotton crops, and that the answers
TO su ch questions be closed and mailed
not later than the fifteenth OF
the month on which sent, and that each
exchange shall compile such answers by
average and that such compilation shall be
sent to the central exchange, which the
committee recommend be the New Orleans
Exchange, on the twenty-fifth day OF each
month. and that the New Orleans Exchange
shall issue theretrom a general crop, report
nnder the SUPERVISION OF the committee on
information and statistics. The Norfolk Ex.
change shall report the condition OF The crop
in Virginia and certain counties IN North
| Carolina: the Wilmington Exchange shall
report North Carolina; the Charleston shall
report South Carolina; the Augusta and Sa-
! vauLah Exchanges report Florida and
/ and Georgia. the Mobile Exchange report
4 ALBANIA as far north as summit land and
certain counties IN Mississippi; the Nash
vile report Middle Tennessee, east OF Ten
nessee r!ver and cersaln counties ol ara
baua: the Mem phis Exchan ge shall report
Tennessee, west of Tennessee river and
certain counties in Mississippi and Arkan-
sas. north OF Arkansas river; the ST. Louis
Exchange report Missouri, Kansas, Ill
,, nois and Indian Territory; the New Orleans
Exhcange to report certain portions OF MIS-
, sissippi. all OF Louisiana, and Arkansas
south of Arkansas river; the Galveston tx
change TO report Texas.
The report recommended that the interior
| towns named therein give every Friday al
I ! noon the receipts Of cotton, gross ana net,
| aud shipments fer the week: also, stock ou
= hand, all receipts to be CONSIDERED net
5 | when not coming from some OF the certain
D interior towns named in the report; and il
= is further recommended that the rainfall
i | and average temperature De kept in the
I interior specified and relegraphed every
Friday 10 New Orleans. Each exchange II
. to collect quarterly. IRON the mills Located
in the district assigned to It tor crop re
ports the consumption and stock on hand
= and returns are 20 be made to the New Or
leans Exchange, or the point selected fol
, all other reports.
The report was received and adopted.
. William NJ. Whitlock, of New York
) chairman OF the committee on domes-i'
and foreign bills of ladiLg, recommend
that this convention advocate the require
l. meno by the shipper from all masters o
. vessels, or transferring agents, the entir
: nun her of all bills OF ladlIg signed for an,
q article on shipment specified in the bod,
q of the same, copy of bills of lading thus on
/ tanned 20 be landed the captain or agent
i. and indorsed negotiable. Adopted
e The same committee submitted repor
: Oh the subject OF reclamation for false an'
l. fraudulenrly packed cotton, and claim
d thereon are 20 be defined as follows:
Sacn bales as may contain any torelgl
5 substance, water packed bales, cOntalnin
:. damage in the interior, without any indica
q ton of such damage on the exterior OF tn
z bales. and such bales as are plated, or con
q posed Of good cotton upon the exterior
." ard of decidedly inferior cotton IN the IN
& terror Of bale, in such manner as not to b
II selected without opening the balls. Form
j of IRE egularities in the packing of cotton
applicable 10 all places for its distribution
q are appended TO the report.
s. The committee recommend that copie
+ of certain certificates be forwarded t
European markets as those adopted by tn
u National Convention OF the Cotton Ex
- changes. and that hereafter claims for falls
t. or frauduiently packed cotton must COZ
| form to them. otherwise they will not b
|
u w L. Trenhalter, of Charleston, chail
: man OF the committee on country damag
/ and uniformity in bales, recommended tina
H. the committee be appointed with authOrit
to confer with the Liverpool Cotton FL
change. Brokers' Association and the Liz
erpooI Ship Owners Association and a
similar associations, with view to th
establishment of just rules. Greater a
, tention TO the proper baling OF cotton is r.
,r Quested.
a They suggest the following standard
~ Cotton 70 weigh $50 10 800 pounds to II
~ bale; press boxes 70 be constructed of tL
70 y following dimensions: Length. four feet 81
20 inches: width, two feet three inches; 81
- ties to the bale.
The committee having considered ii
" communication from the Galveston E.
4: change 10 the New York Exchange, and o
,e the latter Dody laid before this convention
"a recommends the adoption Of resolution
C. urging upon producers greater care i
gathering and handling cotton. such &
o will prevent the ruinous mixture OF dit1e
n ent grades, clear and trashy, wet and or
DO cotton ia the same bale, resulting in ioss |
20 the producers and buyers; that proCucel
a. be enoineG 70 provide a suitable shei-er II
o. cotton; that the different exchange
provide for and enforce the prosecutio
q: OF cases of fraudulent or falsely packe
q: cotton that NAV come 10 their knowledge
ix that the several consistent association
n herein represented memorabilia their r
spectIve Legislatures 20 enact law
compel railroad companies 10 Issue recelp
=. for all produce offered them at their req
20 lar stations for transportation, and thi
C they be required TO provide such shelf
and platforms as may be necessary to pr
tect the same from exposure to weather