New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1876-05-06
The Cotton Exchange.

At meeting of the board of directors of
the Cotton Exchange, held on the third in
stant, the following report OF the committee
on trade vas received and adopted as
whole
GENTLEMEN-The members of the New
Orleans Cotton Press Association COM
plain that they are frequently subjected to
great delay in COMPRISING and shipping
cotton, where it is to be inspected in the
press-room, in consequence of the absence
of the buyers inspector. Your COM
mittee are of opinion that this CON-
plant is we'll founded, and recommend that
shippers should inspect their cotton in the
yard, instead of the press-room. Many
shippers who have tried both systems
have adopted this method, and find it to be
more satisfactory, than inspecting in the
press-roOns. As some buyers may prefer to
inspect in the press rooms, we recon-
mend the adoption of the following as
RULE 81. When cotton is to be inspected
in the press room it should be the duty of the
inspector TO be present at the time of CON-
pressing, provided he or the buyers classer
shall have been notified OF the time at
which tie cotton will be compressed. In
case of his absence the owner or manager
Of the press shall be authorized to employ
an inspector at a cost not exceeding five
cents par bale, to be paid by the buyer.
Complaint has been made to us of the
manner in which cotton is landed upon the
levee in wet weather. At present. when the
wharf is crowded, cotton IS often headed up
in mud and water several inches deep. The
result is that thousands of bales are dam
ged to q serious extent, lnfiicung serious
loss upon planters and other owners of cot
ton, and to the serious injury of our trade.
There can be no justification offered for such
wanton destruction of property. Every
common carrier is bound by law not only
to land, but to deliver in good order, all
merchandise or produce entrusted to his
care. He is bound to care for and protect
it from damage until actual delivery is
made The law Is very clear upon this
responsibility. Cotton is the only article
that is handled in this reckless manner.
Articles OF much less value are not only
put upon skids, but are covered with tar
paulins The latter precaution is not nee
essary as regards cotton, but all cotton
landed upon the ground should be pro-
tected By being placed upon skids. We
therefore propose the adoption of the fol-
lowing. rule, under the heading Of Levee
Inspection:
RULE NV. Steamers landing cotton
upon the levee beyond the wooden wharves
shall be required to place the same upon
skids, so as to prevent it's coming in contact
with mud or water, and it shall be the duty
of the chief levee inspector and OF his as
sistants to report all violations OF this rule.
Our attention has been called to the fact
that cotton is frequently damaged upon the
sides by being trsmped upon in wet
weather by the hands passing constantly
over II, in taking on board large quantities
of cotton seed. 1t is scarcely within the
province of this Exchange to adopt any
rule applicable to this case.
The remedy is in the hands of the re-
ceivers, who can enforce payment for such
damage. We, however. think it would be
proper to call the attention of steamboat
men to this evil, as it could be remedied by
placing boards upon cotton that is liable to
be go tramped upon.
The report is signed by John B. Laitte,
Cyrus Bussey, L. c. Jurey and j. F.
Schroeder, committee.
The following questions to be presented
on behalf of the New Orleans Cotton Ex-
change at the International Convention, to
be held in London on The ninth of August,
1876, called by the National Cotton Ex-
change OF America, were ordered to be
transmitted to the secretary of that insti-
tuition:
l. That bankers, who are largely inter
ested in the cotton trade, should be re-