The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-08-15
THE SOUTHERN STAPLE.

SECOND DAYS PROCEEDINGS OF THE NATIONAL
COTTON EXCHANGE ELECTION OF OFFICERS
CONGRESS- TO BE MEMoRIALIzED FOR MORE
:. EFFECTIVE SIGNAL SERVICE BUREAU.
The National Cotton Exchange mot at half-past ten
O'Clock yesterday forenoon. in the Equitable Build
ing. and called to order by the president. Mr.
John Phelps. Forty-three delegates answered when
the roll called The first business in order was
the election by ballot of president. vice president
and an executive committee composed of nine men,
bers all the officers to for the two years next
ensuing.
committee of three was appointed to act rs
tellers. W. p. Campbell. of New York. nominated
for president j. b. LATTE. of New Orleans. the uom-
nation being seconded by W. II. Gardner, of Mobile.
On motion the presiding officer authorized to
cast the entire vote OF the Convention. This re-
suited in the election of Mr.. LATTE. who then
escorted to the chair by committee of two APP
pointed for that purpose. The newly elected presi-
dent. taking the chair. briefly addressed the Con-
vention, thanking the delegates for calling him to
preside their ASSOCIATION, and promising to do
all in his power tor the advancement OF the interests
the trade generally. The election for vice
president resulted in the choice of W. p. Campbell.
of New York. The members of the executive COM
mittee elected are as foows:--w. II. Gardner Mo-
bile; w. NJ Senter, st. Louis W. NJ. Moody Calves
ton; s Lester Taylor W Cincinnati ia W. W. GTath-
Dennis. Houston l.. A. Campbell Vicksburg. and
L. G. Jervey, Charleston.
At the afternoon session the attendance not
large owing to several OF the delegates having gone
on visit to Coney Island. The report Of the Elk
tive Council giving their estimate of expenses of
the National Cotton Exchange for the next two
years. read, the amount being given at 1928.
Recommendation by the council that each men,
Der the association be assessed $7O to defray the
estimated expenses, was unanimously adopted. The
report of the committee the treasurers accounts
was also read and adopted.
The committee to which was referred suggestions
of the New Orleans Cotton Exchange reported that
they recommend sustaining the present system of
compiling the monthly crop and acreage reports,
except that general consolidated report OF the con-
dton be given nstead of in detail in each district
paying due regard to the nature OF the land taking
care to separate uplands from bottoms and
prairies. In other words. each exchange shall make
up and report an average of the replies they
receive from correspondents to each question sent
out by the Central Committee
FURTHER RECOMMENDATIONS.
The report further recommends that the Memphis
district be placed in charge of the Central Commit
tee Information and Statistics Tor the present,
in conseq uepce of the inability of Memphis to fur
nish the reports and that the entire matter of
dstricting the territory for crop and acreage re-
ports be referred to the Executive Council. with
recommendation that far practicable the States
be consolidated In submitting the above the COM
mtee thought it proper to state that in their opin
ion any changes in the crop districts Of the national
cotton exchanges except in the Of Memphis)
this would be inexpedient. The report recon-
mends the adoption of the suggestion of the New
Orleans Cotton Exchange, that the time of meeting
OF the National Cotton Exchange be Axed for the
third Wednesday of July.
ton by the Convention Of resolution having for
its object the petioning Of the authorities at Wash
ington to include in the next census report the
of cotton under cultivation in each county and
State, as well as the number of bales produced.
After debate further discussion OF the
report postponed until to-day, when 1t will be
made the first order of business.
The report of the committee in charge Of sug-
gestions from the cotton exchanges OF New Orleans
and Mobile suggests that the most feasible plan
of ascertaining the actual acreage of cotton under
cultivation and the product Of cotton in each county
and righ nj q
stituent exchanges ask OF their respective State
Legislatures such legislation will devolve these
duties upon the county assessors or receiver of
taxes. In disposing OF another suggestion the re-
port recognizes the necessity of increasing the ap
preparation for the Signal Service Bureau and, with
that object in view recommends the appointment Of
a special committee to prepare memorial to Con-
gress expressive of their needs in those respects
The report was adopted.
ARBITRATION IMpRAcrrcABLE.
Tho committee to which referred the sugges.
tion of the New Orleans Exchange in References to
the appointment OF central committee of arbitra-
ton for the cotton trade OF the United States,
tablishing of such committee impractcable In
respect to express charges upon cotton samples the
report states that subcommittee. having waited
on tho general manager OF the Adams
EXPRESS Company, ascertained that the
tariff cotton samples is controlled by the South
ern Express Company. Upon further inquiry. the
subcommittee found that the superintendent of the
latter company who is out OF town. is alone able to
make changes in the rates complained Of. Under
those circumstances the committee recommend that
the matter be referred to the Executive Council for
further action.
ON motion the report was adopted.
The committee having charge of suggestions from
the New orleans Cotton Exchange, the New York
Exchange and the St. Louis Exchange. reported that.
after careful examination Of all the documents laid
the matter, they were OF opinion that compen-
sating advantage is to be gained by either buyer
seller through the adoption of a tare on cotton.
On motion the Convention adjourned until half.
past clock this forenoon.