New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1875-02-12
OF CLASSIFICATION

The market opened under the unfa vorab!e in
pool. aud of above 36 " cent on foreign exchange
but there vas, nevertheless, fair inquiry. The
movement, however being checked by concessions
| being claimed which factors we're unwilling to
admit and by scant supplies of the kinds especially
| in request. Only q limited business was done
together more freely. and business summed dun mn
| the fair amount noted above at the irregular and
easier prices mentioned, especially for n1ed lists
and other undesirable kinds staple cotton and
ven-running lists maintaining their previous DO
sition Strict low micdling, with staple. sold at
| l5c. and middling, in some Cases. at the same
although generally held higher.
The amount on shipboard not cleared, gong on
| board and engaged for shipment was set down at
| the opening this morning At 1877 500 bales en-
bracng So 600 for Liverpool 90 600 TOR Havre 1000
/ for Spain. $500 for the Mediterranean 5000 for
the North, which. when deducted from the stock
on hand by onr running statement yesterday even
ing leaves ISL 400 bales to represent the quantity
at the landing and in presses unsold or awaiting
orders
The Exchange reports: "sales $500 bales, inc!ud.
easier"
The following report of special committee on
pllferlng cotton was posted at the Exchal go to-
The aforementioned oonmittee of the board of
directors of the New Orleans Cotton Exchange
third instant to prepare an address to the Cotton
trade of New Orleans on the subject of the traffic
which still exists in the cotton piIfered from the
bales, respectfully submit to you the folloa ing
circular:
The supervisor employed by ths Cotton Ex.
change reports an increase of junk shops and of
trading 10 loose cotton about the cotton presses
arising from two causes.
First, the habit adopted by some Of the brokers,
clerks OF taking portion OF the six ounces per
bale, allowed as samples in a separate paper and
dlspOslng of it on the way to their employers
oihces to these receivers, giving the shipper
samples averaging but three ounces.
Secondly, the custom of picking slightly dam
aged cottOns in the scales allowing the iab6rers to
Temunerate themselves with the pickinss which
leads to much abuse.
1t is universally admitted that the rao,,la+iors
introducs d by the Cotton Exchange as 10 super.
vising of cotton, etc. work well, and confer A |
great benefit alike to the grower the factor and |
The shipper. 1t is lamenIabie that the vicious
system previously pursued should have go de-. |
mora'ized some OF the parties employed in hand. |
ling cotton, that while well principled and estim-
able in all other respects, they think it neither
dlsreputable nor dishonest to pilfer cotton
lac board OF directors of the Cotton Exchange
appeal with confidence to the trade at large To
lend their assistance in stamping out the pifering
indicated, and SO closing Tip the Junk shops They
respectfully recommend that shippers casionai
~ weigh the samples they receive; that brokers |
caution their employees on the subject and that
where 1t Is needful cotton should ne picked on !
the scales, the lab0rers should be paid in cash at
n1ed rates and not be permitted to remunerate |
themselves with the pckings The latter system |
10 most expensive one costing in SONS cases SIS
to per bale in loss of weight, and mtiicting ia.
JURY oa we port ana the cotton trade Of the city
J. ". LABOUISSE |
Il. T. BUCKNER
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