Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-07-24
NATIONAL COTTON EXCHANGE.
Election of Officers,
FaVOring the Texas Pacific.
A New Grade Established,

GREEN BRIAR WHITE SULPHUR
! SPRINGS, July 25.-The Cotton Con
ventiOn to-day elected JnO. Phelps,
Of New Orleans, President; Stephen
! Harrison, New York, Vice Presi-
J dent. The following Directors were
elected f. G. Stone, Galveston; ". L..
Trenholm, Charleston; Henry Hall, Mobile;
j. W. LathTOp, Savannah; w. A. Goodwin,
Memphis; J. F. WheelesS, Nashville, and
W. c. Reynolds, Norfolk. A commi ttee
OF three was appointed by the President to
inquire into the question Of insecurity of
bills OF lading. It was moved that the con-
TentiOn recommend TO Congress an early
completion Of the Texas and Pacific Rail
road, and acceptance Of the proposition
made by Col. ThOS. A. Scott. The motion
was agreed to without discussion.
Mr. Pinckney, Of Charleston, moved
that two grades be established in addition
70 those adopted at the last convention, and
known as middling fair, and that the Com
miJtee on Classification in New York be
requested to put up the same and forward
TO other exchanges.
Mr.. johnson, Of Savannah, moved that
all Cotton Exchanges represented at the
convention should account for official use
Of figures Of the next crop statement to
be compiled by a committee appointed
from the National Exchange for that pur-
pose. The convention then received the
report Of the committee upon the plan
pursued by the New Orleans Cotton Ex-
change to secure correct information and
make up an official crop statement for
lSI4-75. II was favOrably received. 1t |
was resolved 10 adopt the same plan for |
the National Cotton Exchange in reports |
in future.
The report Of the committee upon defni- |
ton Of false and fraUdulently packed cot |
ton and mixed cotton, was re-
ceived. False and fraUdulently packed |
cotton is defined to be such bales as |
may contain any foreign substance, water |
packed bales or bales containing damaged |
cotton in the interior, without indication /
Of such damage upon the exterior Of the |
bales, and such bales as are plated or COM |
posed Of good cotton upon the exterior, and |
decidedly inferior cotton in the interior of /
the bales, in manner not to be detected |
without opening. This definition was /
adopted aud made official. It /
was resolved that reclamation Of such cot /
ton to be valid must be made within one |
hundred days after arrival, and be present |
ed to the seller at the point of shipment |
within thirty days thereafter.
The same committee reported the follow
ing definition Of mixed packed cotton to be |
such bales as contain more than ore quality /
Of cotton, the lower quality being so situa-
led in the bale that no design Of false or
fraudulent packing appears; the difference,
however, in qualities must equal at least
half the grades in the bales sold as low
and above, and one full grade of
bales sold as below low middhng. This
was adopted.
There was an evening session, at which
he subject Of locating the National Cotton
Convention was brought forward. The /
committee was il favor of Augusta, Ga.
This report was adopted, as was also a
notion thatthe Executive Committee be in
tructed TO obtain a charter and provide a
eat for the National Cotton Exchange As
ISOLATION.