Vicksburg weekly herald. (Vicksburg, Miss.) 1868-1883, 1877-09-28

S~44#4 M4-N-M#
A general meeting Of The Exchange
was held yesterday, 10 Oraanixa for the
ensuing season. Afler ihe transaction
OF the business a%pperlaIning to The
workings Of the Exchange, the l0li0w-
Ing resolution was offered;
Whereas. The National Cotton Exchange
Convention on is fourth Days session az
GreenbEier white Sulphur Springs Vir'
gtniaS during July, 1877, passed q reeoln.
ton to the eject q that on eli bales Of cot.
ton with eide pieces, an allowance Of three
pounds per bale be made 10 thebuyere and
whereas, Part Of the cotton crop IL now
marketed with and part Without side
pieces, thus making afelatIYe difference In
weight OF bales that eanuOtb be properly 81.
lowed for By the buyer; and
Whereas, The New Orleane Cotton TX
change, In compliance with the above, on
the oth day Of September, adopted . reso-
per- 1871, whereby all cotton delivered IN
that market having side pieces, will be-
subject to an allowance OF three pounds
per bale; therefore,
Be Il resolved, That from and after the
lst day OF October, 1877, all bales OF cotton
delivered Ia VlckBburg, the sides Of which
are covered with strips Of bagging demon.
mated "side pleees,D shall be subject 10
an allowance TO the buyer Of three pounds
per bale for each and every bale so
The resolution was offered, not as
one which was essential to the trade,
but which had become necessary, from
the recent action Of the National and
the New Orleans Cotton Exchanges.
The question was discussed ct length,
and though present appearances lead
to the belief that we viii Be compelled
to adopt It sooner OF later, the whole
matter, on motion, Wes laid over until
the next meeting, by which time Il ID
hoped seule modification may be made
10 the present rules. To this end, and
In hopes that there Il 9 chance Of an
avoidance In this particular, the follow.
ing resolution was adopted:
That our Secretary be instructed TO com.
municate with the Secretaries OF the Ma.
tl0nal Cotton Exchange and OF the New
Orleans Cottop Exchange, and fad out
whether the rules and regulations relative
70 ALLOWANCE OF three pounds per bale Tor
side pieces, are now In force or not, aud Il
In force that the anne rules and Tegula
lions apply to this market, aud that be b
authorized to publish the resolutions.
Tie following resolution Wap also
adopted, interesting only to our locA
dealers.
Be II resolved, That all mixed, waterloo Oh
fraudulently packed oott0ns shall be offer
ed Ia eepatats lists, and samples repre-
stniing fully and fairly such bales, 'shal
be tied up with q string, as lie the custom
In all other well regulated market r., f0l
each aud every ~ofEenae, wherein Q selleI
KIN OtciRQly offers such cottous In stralgh
lists, upon report 10 this Exchange aait
seller shall be subjected to q fine Of TWEEN
ty.ive dOllars, the same TO 20 into TIL
treasury Of this Exchange.
In justice TO our cotton dealers Il 1
but proper for us to say that the fire
resolution, In regard TO the action o
the National and New Orleans Elk
changes, met with lew supporters. Th,
custom for years has been for cotton Il
have eide pieces, and the action o
these Exchanges is calculated to mee
with serious opposition generally, an,
. retaTd business materially.
; The general opinion among cottoI
men IL that the question should neve
have been thought of, and particular,
before the law was annulled, Whicl
forced passenger steamboats, 60 esffj
only such cotton as is protected full
by bagging or other covering. w
earnestly hope that there may yet b.
some way in which the question car
be satisfactorily adjusted to ell inter.
ested.