The New York herald., 1874-08-08
REFORM IN THE COTTON TRADE.
Tho New Cotton Warehouses-A Render.
v0us for the Entire Business-A Saving

Tho New Cotton Warehouses-A Rendez-
vous for the Entire Busin ess-A Saving
OF $500, 900 Per Annum To BE Effected.
The severe drawbacks and many disad vantages
nom which the cotton trade Of this city has Of late
suffered have given rise to great many COM
plants. The present system OF storage Is attended
With such enormous waste OF money that the most
prominent members OF the Cotton Exchange have
cast about for q new plan Of centrazing the trade
at some favorably situated point on the water
front. The Exchange placed the matter In charge
OF an able committee, presided over by Mr. d. P.
Barker. who, as Chairman OF the Cheap Trans
portation Society. is thoroughly conversant with
the subject The report OF that society In relation
to cotton storage has already been alluded to IN
these columns, and at that time 1t was pointed out
how large an amount OF money could be saved by
cotton trade could be established. HERALD re-
porter circulated YESTERDAY among the members
OF the Exchange VINO are agitating the subject,
and their views win be found Of great interest.
One OF the most prominent cotton merchants Of
the city, who requested that his name might not
4pe betrayed to the half million readers OF the
HERALD. said that the object OF the movement WAS
on the water front, to be used
BY ALL THE RECEIVERS OF COTTON
In the city. At present the stOrehOuses were all
over the city. ana If merchant had hundred
bales OF cotton to deliver IT might have TO be taken
mo less than two days, while 1t could De done IN
swenty minutes Y, for instance, all the cotton
American Docks at Staten Island, where enormous
Warehouses are now In course OF construction.
vas ~ Gaining ground every day that BY its adop-
on all by theft could be eectually prevented,
and the expense Of banding me cotton could could be
saved, as the transportation lines would probably
deliver at tine central free OF charge At
present the bulk Of the cotton which was shipped
ior Europe was recompressed at an expense OF
nfty cents ior compressine and fifty cents
also claimed that even o large saving
would be effected in the employment OF members,
cells An enormous saving in time would also
be 6y Weighing and COMPRISING s the
the warehouses, and the transfer
COULD BE MADE VERY QUICKLY ON TRAMwAYs
or railway tracks run between them, more espe-
-ytally II the presses are properly located. 1t was
attended to have large yards covered with glass,
so that cotton could be mended, picked and ex-
hmined in all weathers: The entire place was to be
enclosed by brick walls and to be only accessible
by water through gate which was always TO be
carefully guarded. SO that the cotton thief would
The merchant who gave this interesting state.
by the majority OF the receivers OF cotton, would
reduce the monthly storage from twenty cents to
70 % per bae 70 from SoS 1G asa
give great impetus TO the trade Incl easing the
keceipts Of cotton 70 & considerable extent. II
authority in the city than the reporters inter-
.locutor-that the receivers lost from three to five
betty thieving going on openly in the streets
while the cotton was being mended, picked
labout forty.nve cents, and as six hundred thou
tBand bales-this Is low 1gure-pass through the
maj Soua @ this item alone % Quite
= number OF leading cotton dealers estimate the
entire saving BY way Of carags loss by neI &C.
BY ADOPTING THE PLAN PROPOSED.
The receivers Of cotton seeing the Importance
and magnitude Of this movement, have appointed
a committee, OF which Mr. d. Ii. BALDWIN is the
chairman. This committee Is to act In conjunc-
sion with the Committee on Trade Of the Cotton
Exchange, presided over by MIR. Baker. 1t Ii i'm
con as they have nave % rsceiVed VI" large % humber Of
proposals Yesterday afternoon the COMMITTEES
poei ae sand TO
eommttss taking for Its pattern in secrecy the
Course, informed Of the results Of this important
hundred ieet In length and sixty five feet IN width,
situated at Tompkinsvllle, on the property for
merly occupied as q quarantine station. There is
q water front Of over one thousand feet, and the
depth OF water Is sucient for the largest class OF
snaed along within y ees
water and will be connected with the docks by
railroad tracks The buildings are Of brick, and
ranged that the cotton can De repacked and re-
UNDER GLASS ROOFS IN ALL wEATHERs.
The storage capacity OF eacn OF the iour war houses
now in course OF construction is about fifteen
thousand bales each, and 1t is expected th,t the
buildings can all be ready in time for The new
erop-about october. There is also room Tor the
erection of additional structures, with capacity
OF over quarter Of million bales The tran1por.
tation to and from the city can be accomplished
by lighters, and vessels can load their cargoes at
the docks, thereby saving the expense OF carriage
rom the presses to the ship. Many OF the present
storehouses are surrounded BY innammable ouild-
lngs but these warehouses will be almost hreproof
ana amply protected in case Of q connagraton
III TINS place Is selected" said cotton broker
last evening to the reporter, "and 1t Is certainly
euita0e I0r the purpose, the effect Will be to rev0-
tusionize the cotton trade. 1t Will be grand re-
iorm, and although some old foRies may stick TO
thelr little storehouses In the middle OF the city,
most OF tue cotton merchants will certainly send
encir cotton to these water front warehouses. You
in hia cttv will ho