New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1875-10-01
COMMERCIAL.

THURSDAY, September so, 1875.
| Some respectable gentlemen In Memphis appea,
| TO nave taken umbagr at the aycnt of the Asso
ciated Press in tt city in repol ng hy telep M
our general cotton ouotatons, which, as is wei
known, embrace all Re grades known in this ms r
ket, instead of the condep~l list of the official
| quotations of the Cott n Exthrrgs and have re-
guested the Memphis press 10 give the latter alone
! We 90 not question m" right of these gentlemen
, TO pursue the course thoy have adopted, but il
strikes us that the most direct way to ace pmplrh
4 their purpose would have been to address thei,
request to the agent of the Associated Pre- "a In
this city, which would, no Coubt, have met rom d,
compliance. Mr.. McDaniels, the agent has during
| his residence . this city won the regard of the
community by his court sy and the flll1 st conf
dence of tie trade i, bis in egritv end would :,
| he was aware that the official ouotations were
regularly telegraphed to all the cotton exchanges
in the county, and naturally supposed that tue
addition to give that full information so i'm pOrtant
| in the cotton trade.
With regard to the intermediate quotations no t.
included 10 the official list, such as stlct good or.
binary strict low middling and strlct middling it
may be remarked that although such grades are
known in Memphis, 1t will be mat ter Of snrpri..,
10 the trade IN this city that they are any where
coguized as pre- existing in the proceeding, of our
Exchange in relation to the subject.
ling eas asPGas Pre- whs
tations. and the capacity and integrity of the COM
mittee charged with the important and delicate
imputation on that committee and within the
scope aGd requirements of our duty to the public
70 give in addition the quotations according to
in order to furnish pisntsrs aus as weIl as
accurate Information Of The Ss e%pe t.,s and
tons. For similar reason we have deemed il
proper to give the range OF nrces. agree bly, t.
the t1me-hoDore1 custom in ths market, In this
we have surely not encr "a ched upon the preroga
tive or the ter, DRY of the Exehanoe, the official
fully RECOGNIZES When the Memphis Appeal chs.
acterises this method of quotation ss "a trick of
the trade" and refers 60 a. fraudulent in the pur.
the detriment Of oIhers." it doth the New OIlean,
trade, as well as the reporters, great injustice.
reporters have been Influenced BY such unwnrtbv
motives IL so absurd that It 10 hardly entitled to
based upon actual transactions aud II our reports
BY their full and accurate information bavs at.
tracted cone'gnments +, this city it Certainly ia
no cause for their dscontinuauce
Our determination to pfIsovere in this mode of
quoting was based on an experience of nearly
thiity years In repol ling the New Orleans mar.
kets. and our judgment wa confirmed by full
and free eonsulration with many leading members
shall not deem it incumbent on us to Change or
The following le tar upon this subject con.
clusfvely shows that We are SUPP rtnd in our
yiews by the almost unanimous approval of fac.
tore, clippers and brokers' that most Of the sjan.
Them nave been or are still bcnor aS many s or
guished by official connection with that body We
learn from the gentlemen who had charge Of tb.,
list til at the signatures were not only cheerfnIIv
sven but in most cases with ear nest ex ssois
of appropriations, and we feel deeply sen ibj. of
such recognition of our faithful services:
To the editors of the New Orleans Price Current
Picayune Daily Bulletin, Republican Bee and
German Gazette:
Some question having ayiseu abroad with regard
to the expe liency of your giving ~ hitherto in
your cotton re- olts, not only the OFFICIAL quota
tions Of low ordinary, ordinary good ordinary, low
middlng, middliug and middling fair with the re-
marks OF the committee on quo, atoms Of the Nav
Orleans Cotton Exchange but also quo atiops Of
all the intermediate glsdes fully although NOT off,
cialy recognised in this market, whenever the
business Of the day requires that they should be
specified. We have NO hesitation In laying that
We approve Of your reporting both sets Of quota.
tions because they convey fuller Information and
tors. shippers brokers and planters
The UNOFFICIAL intermediate grades referred In
are tn1sror. stttct ordinary, strict good ordinarv
strict low middlng end strict middHps
We slso spprovs Of your giving tho eroper range
to the UNOFFICIAL quotations, IL being aIvavs m
derst00d that the OFFICIAL figures arc
in all settlements Of c0utraotA
New Orleans, september 20, 1875.
RICHARDSON NAY.
PAYNR, KENNEDY CO..
And hundred Othorr
COTrOH-The aales to day embraced also baies
q trreeulas prices requiring NO other change in
side figures Of strict middling and good middiine.
We give also tho figures and report Of the Il.
change In full, ~ below:
AMERICAN 6TlNDARn Op RI A narrrc rrn~~