New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-08-14
THE COTTON TRADE.
IurNrInN OF DEALERS.


MEETING OF THE NATIONAL COTTON EXCHANGE
YEsTERDAY-A FULL DELEGATION PhEshNI-
SUBJECTS TO BE DISCUSSED.
The annual convention of the National Cot
ton Exchange was opened yesterday In the Board
room of the Equitable Life Assurance Society Henry
b. HYDE vice-president OF the Equitable ana ROBERT
Tannahr acting president OF the New-York Cotton TX
change delivered brief addresses OF welcome The Com
mttee on Credentials reported ftysx delegates pres
ent rrom the leading cotton ports.
John Phelps the president. said that while much had
been accomplished carrying out the objects OF the Ma
tional Exchange its abors far from complete The
adoption of a uniform standard Of classification. and
the quoting OF the grades OF good" "Ordinary" "lGw
mddIing" and "middng" in the quotations furnished
the Associated Press important step in this al
recton Everything had been done, far possible,
I'm securing comprehensive and trustworthy nfor-
nation in regard to the condition. movement and con-
sumption OF cotton and the monthly reports present a
trustworthy statement of tho condition OF the crop at
the end OF each month during the cotton seasoD The
census Of 1880 will give basis relative TO acreage and
production sadly needed In concluding his re-
marks the president expressed the hope that harmony
would characterize the convention.
The Executive Council submitted n report Of the
position, prospects. ETC., Of the National Cotton Ex-
change During the past five years cotton culture IN
the United had outstTipped the most sanguine
expectation, and with the probable ratio OF increase
Justified by the OF production, tho time not
far distant when this country shall again enjoy prac-
teal monopoly OF the worlds supply OF this great
staple The problem Of free labor had been virtually
solved and results proved that with its unexampled
fertility Of soil and peculiar adaptaby Of climate for
cotton raising the South must be regarded the fu-
ture reliance Of the manufacture ~ both Amer
aud Europe Taking the acreage OF few years past
81 per cont Of the cotton crop Is manufactured In the
United STATES aid 90 10 feed the mills Of
Great Britain and Continental Europe. The vast trade
cont 4
timaed at $50 100000 per aUnum, TO foster which
trap no snecaI faculties or cucouragement has been
received from the Government More specific adj
vantages should be accorded chief among which IL the
and Signal Service bureaus The sensitveness Of
the plant m"tcOrooEic influences Is such that
IL would he highly advantageous were some efficient
means supplied for getting information by telegraph
OF daily variations at all important points In the cotton
considered Of the utmost importance.
The council explained that the place OF meeting had
been ngei from ST. Louis to NewYork on account OF
the appearance OF yellow fever at Memphis, and the
probability OF much of the Mississippi Valley being sub
ject 10 local quarantine They recommended that the
annual dues be increased from $50 20 75 for delegates
to the National Exchange.
Secretary Hester read the treasnrers report showing
the expenditures ofthe past year have been S263
leaving balance on hand OF Sl65 80 He then read MS
report which included the following subjects sub
mted for discussion by the delegates from New-Or-
leans, Mobile and New-YOrk:
/. That some more uniform method OF compiling the
monthly crop and acreage reports be adopted, and
that each Exchange binds itself to adhere to that method
In respect
q That he adopted to at least benni
ally Information respecting the actual acreage
cuiva and the product OF cotton in each county and
parish Of the cotton states.
g. That the districts allotted to the various Exchanges
be revised.
4 That the National Exchange take into consldera;;
tiOn the ACCESSIBILITY OF having weekly statement OF
the visible supply OF cotton.
s. That the time OF meeting Of the National Cotton
Exchange be fixed on the third Wednesday Of July
g. That measures he taken 10 establish Central Com
mitee OF Arbitration for the settlement Of claims afs
ing in the Of transactions in cotton between the
members OF the Constituent Exchanges
z. That resolutions be adopted opposing tare upon
cotton for side pieces.
g. That proper influence be brought to bear to induce
the Government to increase the appropriation for the
Signal Service establish other stations in the
cotton belt.
g. The excessive charges express companies for for
wardng cotton samples between points in the United
States.
10 The whole question Of the are cotton. and to
devise some means to adjust the same.
The subjects were referred to committees appointed
by the Business Committee OF nne and confirmed by
the convention who met to consider them last evening
and will report them for discussion in the convention
which meets at 10 O.. to-day. The delegates were
given passes 10 Brighton Beach, the Sea Beach
route, by $ j. Murphy, cotton broker. The Cotton
Exchange appointed william Woodward, IT.. j. il. Pat
tersOn and Walter Bruno, committee TO prepare din
for the visiting delegates at Demoncos, tomorrow