The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-12-30
COTTON FUTURES.
Tho Exchange Decides in Favor of
the Inauguration of Calls.

Tho Exchange Decides in Favor of
the Inauguration of Calls.
Thore was u good doal OF excfpment yeetar
day ut tho Cotton Exchange oVor tho vote boing
poled for and bgainbt tho inauguration Of flu
turs cala In our New Orleana Cotton Exchange.
There WIS strong pressure for and against the
idea, which, 1t must be- eald is not onirei y m
Innovation. the custom being sanctioned by
pracic4 heretofore md u rule OF tho Exchange
governing the operationa In that limo, accord
Ing to tho rule Of the Cotton Exchange Of New
York." Az matters stood Yesterday. however.
many OF our heat merchants fought tho inanRu-
rntion Of thn calls and many others who hap
pened to ba in the maI9rityl favored It.
The Hdyoeates of the measure. who nave won
tho day. nrn. according to our republican tra-
dit!One lFnttlsh to bearing abbrS their nnhg-
onista nud ,vo will therefore give ns much hs
wo can romemb3r Of their ide OF the question
IA gathered from conversations around tho
IxGhAugn rooms.
They clam that tho inauguration Of the
cnis WI inia,ltbig giva to thi- city an ncrease
q cotton trade, Tor tho II ason that during ho
ecnaon much OF tho cotton Is held bacs In tho
hands Of tho planters by low Wnf@r and diverted
| from this ci y by ra lroad communication with
| 1T. louis Il otter ctii0a. Wberetu. If tho
| factors hero cAn taho Hdv@Dtage Of HIGH prizes
| ns given time and 7ell n iho probable Ilso In
| ivara. III cotton, tDid Ms trtutas, ~
bound to come 10 our market and
| 81 by 20 mtt.A swell the aggregate Of our rs
caipte Ii Will atsO give ttry increas6 of hu4t-
| ueaa us may FGtangeis from Other s ntrs
| como To Haw Oricans during tho 1inter either
| for rtasOus of T. niih or for atluSeEGent And
| chr ng0 iyum ]. cold 10 agfntHl cimats. hnd al
hHEp. OF C0EtS". an 8V6 TO tho mann GlAnGe, Aul
| will 30 h,lppy to avaii themselves Of tho oppor-
ftunity by 0pD1rtune speculation 10 cover their
exrenafr md oven make u lIItle money.
/ The adyarRari of The measure contend that
| the pra"tIea r. iumorni. uS 1t Hmouns after all
/ to what may be called commercia sort OF
gambling but to this The advocates repiy that
If II IL m aytl II has become necessary one. 7
/ the first thing which Ii looked ut on tho Elk
chnnge boards by our most conservative cotton
| facfors nre IT, au0fat!ons Of New York futures
| aud that upon these quotations they generally
| govern themselves for their daily prices.
| We onNy give these opinions as Wa have heard
them In suppnrt OF ap accomplished fact.
! The result CT the voting yesterday Was
In favor Of future calls ..--,-...-....-,& ..ln
Against ....-,.....-. u
Giving majority in favor OF the calls Of 5
l Tho total Of the votes east was rs will ba seeT
1871. which s Il very fair eZrres sion nf The itef
OF tho Gotten Exchange, It's total of member
b4iug 22G. many Of whom are absent from th'
city This is perhaps tho largest vote cast or
any question. bo vote for president at the Las
election being 1873, only one voto more.
The 'future' men are jubilAnt. but at IN
same time do not believe that all the good the
expect from the succesa OF this measure will b
Immediately flt The br siness songht for vii
not be extef svo from the beginning. 1t j.
scheme which will take soma time to deven
and b come q paying institution. but they ar
confident that it will eventually be- a succes
and q material help to the prosperity OF ou
market.