The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-09-28
COMMERCE AND TRADE
COMMERCIAL.

DALLAS. septcmber27 The following was re-
ceiyed on Tuesday evening last, but 100 lhte iof
insertion IN our columns yesterday
OFFICE DALLAS CoTfON EXCHANGE, DALLAS
TyxAs soptember2i, 1882 --Editor. likRAlD-hD-
sence from the city has prevented nm carrier no
tce of your criticism in Friday HERALD OF the
Dallas Cotton Exchange That II Is not an IN
operative organization is eylucneSn os WY WIZ
OF It's constitution. bylaws and rules herewith
handed you Under these rules the cotton lrade
of Dallas In now conducted, every fsspecmplo
cotton merchant In Dallas being member oil INC
Cotton Exchange
change was organized Is to break up the disrep'
uiable practice OF "Rippering 10 whith you re-
fer. At the suggestion OF ms ExchanGo the
railroads. banks and warehouses have adopted
liberal policies to enable merchants to c0nCen-
trate Gotten here and we shall he pleased to
have the solid members OF the Merchants Gram
and Produce Exchange show what lhcy tan 40
In concentrating actual luct phuntpml couon
here for sale will only add, that should the
HERALD succeed in imprcssns upon the plant
ers that only members Of tho Merchants TX.
change are worthy of confidence in the sale OF
Competlllon w WHITE
President Dallas Cotton Exchange
The communication is directed from the office
OF the Dallas Cotton Exchange, ana no ore re
grets moe than the writer OF THIS article docs
that the oe,cc cannothc located The reception
IL COPY OF the bylaws Nuu ltNuuIluhS N Nv
knowlcdged Tho HNR.lD Is ready 10 admit
that every respectable cotton merchant ia Ddl.
las Is n member of thc Cotton tNchangc, ana
that the prime object Of It's organization was To
break up the disrcputalle piaGutC OF hlplyr,
ing IN regard 10 the railroads, banks ana
warehouses adopting liberal policies, olhcr par
ties claim TO be instrumental In eilecling THESE
good results and the HERALD only fgolces III
knowing that these good results nave ptth e.
fected by good menWho arc working In the in
q al nallug If Is In he lNpNl tlnt pom
the Cotton Exchange and the Merchants EN-
change Will unite In their Efforts 10 hring more
cotton to this city. The HERALD has not en-
deavorcd to induce the planters to scnd cotton 10
the members Of the Merchants Exchange
any more than T. has 10 advise them to
send II 10 any good, reliable commission house,
whether the proprelnrs are members oil the
Cotton or Merchants Exchanges. But the ques-
ton suggests itself Is the UOlton Exchange IN
operative or M imperative institution? AneN-
change Is u place where business men meet
daily or nt some stated periods for the trGnsnc-
ton of business Has the Cotton Exchange
hnbtation OF n home? If So where he
HERALD does not want to enter into any contro'
versy with the Cotton Exchange, but desires
only TO advocate every measure that viii prove
beneficial TO Dallas aud north Texas, ana To
this end has II laboled faithfully and 10 the best
OF Its ability. II feels an interest III the planter S
well as In the cotton factor, aud to show the
wrongs and losses inflicted upon the farmer tho
following from one OF the most Impartial ana
Just papers IN the south may not be ont OF place
ut the present time.
I'VE doubt IL cotton planters generally realize
the rings and populations between them and
the consumer First the band iron bale Tie
rings, represented by stock companies, with
millions of capital, on which they pay enormous
dividends They sell tho planter heavy, cN-
penslve patent hoop iron bands
Then the cotton factor, or second ring, re-
qulrcs that the planter put NJ his cotton III
loose. ungainly bales In order ~ they say, To
- q L.. -
monse quantities of cotton from the bales 70
that some Of them seu from $1,000 to $4,000
worth OF samples annually.
'"rhon the bales 10 To the rcpress or compress
rig which Is usually combination of factors,
or other middlcmen, and here the cotton crop
pays annually about $50 600 more Then the
cotton passes OF, may be, through the hands of
another ring who fn,ten on II. and ilnnlly
reaches the hands ol the distributing merchant
In Baltimore New York Boston, or Liverpool,
by which time the bales are badly soled by
dirt, mud and rain, by reason of their ungainly
Size careless handling aud storage, and they
are now not unfrequently treated 10 bath by
rolling them through the penetrating slush and
mud that usually covers the wharvcs of these
large cities. From the wharf the bales nrc
carted to some dirty back storage street whore
they are again dumped into the street slush aud
rolled through II into tho soTchousc, by which
time they are ready for the Inspector, who now
takes each bale In hand cuts the coverings 80
that he can and does pick the soiled cotton from
the entire outside of the bale until II is Ns white
and clean as lint from the gin, and generally
picks deep enough SO that the trimmings look
nearly as white as the bale. These pickings are
the inspectors spells,
"rhe bale Is now rcsampled, which means
another steal Of cotton then rCwcighcd, the
weight OF tho covering and bands deducted and
the net weight ol the cotton marked on H. and
the consumer buys at this weight
Now. all these middle men, knowing the
shrinkages and stealing IN which they share,
pay enough less for cotton to cover and leave
them profit aud get rich, aud unquestionably
the planter has TO pay for the untold millions
pockc,ed by the cotton band ting the compress
ring and al the factors aud middle men, bctwocu
the cotton planter and consumer, by selling at
sufficiently reduced price to cover all Foil
Teal carpctbnggers may have robbed south,
oru states and snddlcd them with unjust debts,
the Interest ON which II Is hard To pay; hut that
Is but circumstance compared 10 the loss these
cotton leeChcS are intlicting, Shake them oil,
and with the saving the cotton planter alone can
In u short Time pay not only the interest but the
prlncipalot these state debts, and then Il M,
piled To The purpose, pay the entire amount OF
Confederate bonds issued before the bonds is
sued by the treasury department At Washington
mature,
"rhc Hon. Edward Atkinson, Of Boston, Mas,
sachusctts, who has carefully studied the sub
Jcct MS Is well known IN the cotton states, conf
IDENTIFY declared That there Is II loss of 10 pei
cent In waste of cotton between tho planter
cotton crop Rating the entire cotton crop n
only 60N 100 bales, there lisa loss at 10 per cent
of $sN,00NOOo.
Tho loss Is not only the profits and stealing,
OF these rings hut the unnecessary cost of Stocl
In bands loss In labor In COMPRISING, AM los,
In soiled cotton, all OF which, together with al
profits and slcallngS might he saved 10 planter,
II they put the cotton M direct from the GIN
For those reasons tho iitRALp advises planters
i to send their cotton ~ reliable commission mct
TO be sold, whether they belong To tho DALAI
Cotton Exchange or the Merchants ENchaug,
OF Dallas
OK 'onANGE.
There was u fair attendance on the ENchaug,
today AMI the meetings nrc becoming more In
tcrcSung caily rhurn we've sume sales In
regular way, but members generally prefer 4
defer operations TIL the opening OF the Cal
BOARD. rrccs for NIL kinds OF grain were nrn,
but owing 10 the small receipts transaction
were light
TiE prices Tor grain ON the Exchange to.da
were Us follows. Wheat, SltlpNtiV, MS Nc
quality. Oats for spring, aSe0SS; FALL for feed
S,Otie. choice, rcd fuSt.pruuL iANeN New corn
In shuek @oi 10 shellcd, "a harley, In sacks, II
Rye, Texas ~ sacks News northern, sic,
Millet seed, lltuc, tQe,6s German, Ntt& 1
store, IN small lots, y higher price Is asked
Tho 81. Louis grain market to-day, as rcporlc
atthe Merchants Exchange, was N follows
September wheat MAWplh, October whpa
poh September corn, 60 bid; October con
coAwCQh september oats, OIL October Dat
500 bid.
Turns was decline In grain IN Chlc.go to.dn
for both wheat aud corn. October wheat un,ne
nj VI was rather weak during the dav. nm
Clpsct nj nj wv. three sfuufthS nf a cont uo,i.