The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-11-04
PRICE, FIVE CENTS.

ing their business. Threelyears ago the average
storage OF cotton In shpss WAS Gi2 pounds per
band puller and tics, makes storage Of $500
pounds. This IS equal to net gan as saving
In freights of 50 per bala-say 1000 on the
presses enough to do all the work in that man
per But Wht the pressnen were driven by
h9 heer rasses W2TE ID W o a1onT Ra 6f
which they would have had to pay . royalty,
they procured cheap subsstitutes, which arc q
have raised the standard OF storage to about
1900 pounds, aud an aetual reduction in freight
equal to up%wards % Of % 900, 900 On the average
so[oly to the onterprise OF Mr. John b. Ladtto.
h9poB Capt y GiIman were theselmproye-
men md their advantages explained to them
b1iore you offered thom to others.
patents secured, made 9 proposition to tho
President Of the Cotton Press Association to
work my patents on plan that did not Involve
an outlay Of $4,000, and to charge the ships q
small advance for tho superior work done
They could then have secured the control for
the annual interest ON s1oy,oo0 Of patents which
now cannot be had for ten times that sum. Tho
president WAS not supported In his proposal TO
make some Arrangement. with ms and the re-
suit has been that they have expended about
5000, 900 for new presses, and nov have not ono
that can compress two uncompressed bales into
one with one set Of bands, nor load q ship to
its full capacity, nor arc they IN possession Of u
band puler or tie that will hold cotton perfectly
when compressed
ReD.-WhAt iR the practical value Of the steam
band puller yon STEAK Of2
A.-The bands are tightsned and fastened by
steam with no discretion left to the workman.
who has only to turn on steam and the bands
are all drawn exactly to the same tension and
fastened In two seconds Of time. At the first
trial to-day on 27D bales OF cotton they we're
com pressed ct the rate OF seventy bales an hour,
and after little experience they will be able to
turn out 100 bales an hour. With this machine
there is no muscular labor required In putting
on the bands.
Rep.-What amount Of capital will be- en-
plOyed by your proposed now cOmpany2
Any estimate for the total cost Of the
plant is about $3,500,000 and the company.
whose chief office will be in New York. will
probably mike all required advances on all cot
ready to clear. giving sellers the value Of
their cotton, less tho margin, as soon as 1t ar
| rives at the pres wharf, and buyers every
| facility IT, negotiate,
| Rep.-Will the stock Of this company be put
| on the market for subscription?
A.-Nota dollar Of it except for legal Dur-
poses. 1t will oil Do taken by about, ton men,
BALES Of cotton otto and who ny m 9y apprsciate scn md
understand the value pnd security Of such an
| Investment. Some Of them spent p part Of last
winter here. and but for the sickness would
| have been here again at this date.
| Rep,-Will the Louisiana Cotton Tie Company
| sell out to the new company
| .A.-No, the L. q. T. Co. now own or control
about ten patents which, in the opinion of
| company, cover all the plans upon which The
| most speedy efficient and economical com
press. steam or hand banding machine, and
license these patents for royalty per balls In
ibis and other ports. 1t is now quite cleart hat
those who do not use them will be crowded out
OF the business by those who do. Is this suf1-
centf
Kep.-Qaite satisfactory. thank you. Good
morning.