The New Orleans daily Democrat., 1880-04-16
COTTON FUTUHES.
a Letter Upon the Subject from the Super.
intendent Of the New Orleans
Cotton Exchange.
New ORLEANS CoTToN EXCHANGE,
Mnm Orlanna Anril La IRan

New ORLEANS CoTToN EXCHANGE, I
New Orleans, April 10. 1880, J
To the Editor of the Democrat:
l ala in receipt OF your verbal communica.
tion, through Mr.. L. l.. Lincoln. commercial
editor Of the DEMOCRAT. Offering to place before
the Southern press convention at Atlanta any
suggestion from this Exchange relative to news
The recent establishment Of the future b usi.
ness In this Exchange and Its progress up to
the present date are matters we'll kown to the
public through the medium OF your valuable
journal and Its contemporaries. The business
has been handled under conservative princi.
pies. and from few hundred bales at the out.
set now averages twenty thou sand to thirty
thousand bales per day. The frst houses in
New Orleans take part In 1t, and the capital to
back 1t is ample to protect all interests In
The primary object for its establishment was
to retain at home q pait at least. Of the enor-
nous Gums annually sent to New York from the
sions, and, as much as possible. to release the
cotton marRet from the, control OF ruthless
speculatore who have nothing In common with
plishment Of the latter must necessarily be q
matter of time; possibly the attempt may never
prove successful but, at aae,s ali ey,ssnts; With
poll IT, IN the cotton belt. affordtpg planters an
opportunity to secure the advantage OF any
stage Of prices that may Weld them fair profit
ducts a ahead for actual delivery. q CON common mon
ground Is furnished on which the planter may
meet. direct, the agent of the spinner who de-
sfreE to purchase ahead on account Of his con.
tract for the manufacture OF goods.
ks the largest market In the world, but one
for actual cotton, and with all the facilities as
tial to do justice to an enormous legtim ate
business In cotton, the interests Of the South.
M srn people clearly lay m 10 vy giving New Orleans
business
BY the nature Of the contract business IL
whether he delivers his own cotton or covers
his sale by purchase of another contract. which
can be used as an offset. This option applied
the distance between that ciIy and a greater
part OF the cotton section. together with the In
Vulnerable charges and other difficulties which
fectual bar to planter delivering his cotton
direct against a New York contract. Again
New York Is a third rate market for spot cot
leading Southern points, and the result OF
heavy tenders Of actual cotton. by reason OF the
want of a sufficient market for such, inevitably
being to abnormally affect prices to the detri-
ment Of producers.
Similar causes would hardly produce like re-
suits In New Orleans. or, at any rate. the re-
sand bales thrown on our market. where there
are always heavy buyers tor al parts Of the
world, would have less effect than ten thou
:. In word. New Orleans now offers superior
to the south to do her entire cot.
ton business at home and to retain the benefits
which now serve to enrich others. In her own
section. The extent Of the business Is now suf-
fcient to prove OF interest to every Southern
press is asked, in justice to us, to give the
same prominence daily in their telegraph col.
umns to the New Orleans future market that
they do to the New Orleans spot cotton mar.
ket.
With thanks for your kind offer. 1 am yous
N"''-' " HENRY g. HESTER Secretary.