New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-07-19
NEW-TORK1S COTTON TRADE.
IT'S EXTENT AND IMPORTANCE.


CHANGES WHICH HAVE TAKEN PLACE IN TIN
YFARs-rHE COTTON 80 LONGER STORED IN
SMALL wAREHoU OBSERVATION-DISCLOSURES WHICH
HAVE BEEN MADE IN TIE WAREHOUSE SYSTEM.
One of the most important branches of mer-
can't industry al this port is the trade and dur
ing tie past ten years il grown 20 such an extent
that OF entire stock or cotton NewNorK controls 40
per cent. So important had the trade become fe"
years ago that question OF warehouse iacles De-
came one of consideration. Until about 1870
the cotton coming to this port stored in small ware
houses IN different parts of the cty-a system very IN
convenient to the trade It also suffered losses contn-
ualy. principally through dishonest weighers and
samplers. merchant having large stock IN port
might have 1t stored in several warehouses; when
would give him trouble. There were also many
fires IN the warehouses. which, II was charged were de
TO some dishonest merchants, who had SOLD large
amount OF cotton which they really did not have on
hand and 70 up their shortcomings nIc wOuo
occur frequent these fires That the INSURANCE
COMPANIES charged au enormous rate OF premium on
cotton.
The lack Of facilities in the warehouses for handing
cotton was also serious matter. The cotton was rolled
pier and through the street 10 the warehouse:
streets and the merchants with heavy lossrs from
cotton damaged IA this way Regular co. ton war "als,
houses were then proposed bylaw OF cue CV t
Exchange at that tune restricted the storing OF COon,
for delivery. WITHIN the limits OF tie ey below FOUR
project OF 3. +. Baker prominent member ~ the
Exchange, 20 bud cotton warehouse on tatcn lsano
Une OF The strongest advocates ot Tie movement wac
Henry Henlz eX-President 0i the Exchange Mr Baker
managed get others Interested III the scucfne'
aud decided 70 build warehouses exclusively lor
'hr cotton OF this port.
IEe American Dock ana Trust Company was organ
zea twelve acres OF ground were purchased a, 10 Ten
VILE :. L. and upon the property were eFectca liIRe
hrepO0 aTeGouses with capacity Tor storms |0oOJ
eaits % cotton The bulkLead fronting the properly "
COZ ieet In length with four covered piers each too
st - length and 90 let n width extending neroITU
villa water each side from Is TO 30 feet IN depth 80
Ins al znd- OF vessels recrlVe and dlscnaFSe car
sOes I'D a.. KINDS weather. The entire premises arc
elsd and uDdcr the guard OF special ponce D1t DAY
eSu1ght Cotton stored at these warehouses - man
seaentrely PLANK floors, and Is not rolled or trans
.e.aeo % muddy pavements. streets or whdrVcs Inc
Vuoh merchants that these the most ccmplete
ooa warehouses IN the country. except some III New
oiieahs and e. Louis
Alttr lhe Stain Island warehouses completed
Tie Clinton stores. IN BrOOslyn, was sci part
eAe Storing OF cotton with captcity for 10000
s. Ne1i parts Of k,berps Harbecks and Wats0ns
Esss.B iHg on the river trout between Fulton and
hasss, brooklyn. were set apart. Tue capacity OF
sso.N sqllAl u 10000 bales. Gradually the cotton
owtsss Las Deen leaving NeW-YUrk from year 10 year.
W Tue want OF sUfii cIcn accommodation To handle
ob.. ise space 0f ground required cannot now be
Tor sa ~ n's city cxcepi al an envrInou. price Cot
tf1r.s 49,. IN New-fOrs city has also 10 he taken on
rom vessel 10 warehouse. If then sent 20
sen ts,esscs a must be " ltghteDed" and afterward
say,aa NC uahsDOftatOn depot dock wnence II Is
ihy5vsd ~ destination. Thus unnecessary expense n
iho an ohen weighed and sampled must be rolled
MO a, stefI anu IL liable 10 become damaged from
essaa.,.i"ee weather. fncre is also dan2er that
szmns,a 'o amount may be stolen by irresponsible
''hef warehouses which have been started for