Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1876-08-11
COTTON CONFERENCE.
Meeting OF English and American Cot
ton Dealers in LODdOn-ImpOrtant
Resolutions Adopted.
The Losses by Excessive Compression
and Difference Between American
and Liverpool Classic.
cation.

LONDON, August 10-Eight Ameri-
can, three Dutch, one London and SIX
Liverpool representatives OF the cotton
trade met in convention here yesterday.
Samuel Simpson, of New Orleans, pre-
sided. He stated the objects Of the
meeting as declared In the resolutions OF
the American cotton exchange inviting
It.
w. B. Forwood, of Liverp 3ol, Endorsed
The objects of the meeting.
Mr.. ". p. Campbell T n. Y. moved
that the conference recommend the
formation Of an international cotton
association to promote the efficiency and
to extend the usefulness of the various
associations of Europe and the United
Statea; to secure united and harmonious
action in considering the various ques.
tons affecting the agricultural, CONNER
cisl and manufacturing interests Of cot
ton, that the welfare Of the cotton
trade may be better protected and pro-
NOTED.
The delegates being unable to bind
their respective associations, the resolu-
ton was withdrawn.
A resolution offered by Mr.. Reynolds
Norfolk, Va stated that it was the
opinion of this conference that the pres
ON the quality of cotton in Liverpool is
unsatisfactory, and that the cotton
brokers association be requested to ep.
point q committee to consider some
more efficient means OF assessing the al
lowances to be made on cotton bought
and sold to arrive.
The resolution was passed alter con-
siderable discussion.
Mr. sForw0Od RI ,iuprnnOl1 n0vpd
that in the opinion of this conference,
arbitrations upon the quality of cotton
should be based upon grade, and that
value should be fixed according to the
official quotations Of the day. Adopted.
Mr.. Nicholson liverpool moved
that in the opinion Of this conference,
Liverpool drawn samples of American
cotton are on an average worse in ap-
pearance, and consequently in class, by
l-16d to I'D per pound, than those
drawn in America before the cotton is
compressed, and that q severe pressure
will further deteriorste the class. Unani.
mCusly adopted.
8. Smith liverpool moved that in
the opinion OF this conference it is de-
sirable that cotton should be sold in
America at its net weight, and that the
various exchanges in America be re-
quested to endeavor to give effect to this
recommendation. Unanimously adopt
ed.
O.her resolutions were adopted unani-
mOusly to the effect that the system of
sampllng cotton in America should be
the same as the Liverpool system, and
that it is desirable that the same classifi-
cation Of American cotton should be
adopted in all European and American
markets, according to the standards to
be furnished by the Liverpool associa-
ton, and to be ratified by the American
National exchange; that the several eX-
changes in America be requested to APP.
point inspectors to certify TO the cOndi-
ton of all cotton exported that suffi-
cient care is not taken by shippers in
delivering cotton at Liverpool, which
should be amended, and that this con-
ference adjourn until next July, to meet
at Liverpool at the call of the United
association Of Liverpool and the Liver
pool brokers' association, which are en-
powered to invite delegates from the
American and European exchanges.
The American National Exchange.
NEwYORK, August 10. The executive
council of the National cotton exchange
OF America met at the New York cotton
exchange today. The secretary pre-
sented his report for the past year. The
meeting is concurrent with the Interna-
tional cotton convention held in Lon
don.