Weekly commercial herald. (Vicksburg, Miss.) 1884-18??, 1886-04-16

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terror is yearly increasing.
The pushing of the buying system
into the interior, while Of a compare
lively early date In some sections, be-.
gan to make Its inroads felt about 1876
in nearly every large interior town,
and with the advent Of this system the
changes affecting the movement prop
er may be said to have commenced.
The buyers, Of which the major por-
tion are resident in the larger interior
towns, are of two classes-thuse of
buyers for domestic spinners and those
who buy for foreign exporters. The
competition of the above buyers among
themselves, however, leads them every
year to 60 further TITO the country,
and each year sees the remote produ-
Ger and the mills or exporters brought
closer together. The question as to
whether the prices paid by these buy
ers are ruled by the official quotations
seems to be productive of some disa-
greement among Bradstreet's cores
%pondents. That the official quotations
at the various exchanges act as guides
to the buyer and seller is not doubted,
but it is evident from the answers re-
ceived that the quotations in many
cases act only as guides, and when
a trade is being made they
are apt to be disregarded. Some
places report that fully 1c. above
market prices is paid by buyers in
order to secure cotton. The natural
effect of this upon the spot sales of
the exchanges IN the various large
cities may Ue seen at a glance. The
system of through bill.of.lading ship
ments and the consequent avoidance
of port charges enable the buyers above
mentioned to offer the inducements
noted. 1t is stated that the number of
buyers in the interior is increasing
every year, and the general opinion
seems to be in the interior that the
system is productive of much good to
the country merchants and planters,
but chiefly of course to the former
class, as they are most nearly con-
cerned with the buyers. The risk run
of losses caused by reclamations for
low grades is said to be considerable,
and dealing with irresponsible agents
is also stated to have been pro-
ductive of some loss. On the other
hand, it is stated that the bad quality of
this years crop is exceptional, and the
losses from reclamations in average
years are not considerable. The growth
of the system under the favorable con
diticns as to quality Of the two pre-
ceding crops is pointed to as corrobora-
tive of this statement. The gradual
wedding out of the class of agents
with offices in their hats" who have
caused some loss by their actions, will,
it is stated, provide for the second OBJ
lection above noted. The future of
the business in so far as interior buy
ing is concerned would seem to be, in
the opinion Of our correspondents, to-
ward a large increase in the interior
buying and the obtaining of gradual
independence by the merchants of the
interior from the lenders Of money in
the large cities. 1t is stated by several
correspondents that owing to lack of
money the need of calling upon the
large cities is still necessary, and in re-
turn for the loans they agree to send
cotton to the commission men in the
cities they borrow from. The general
rate seems to be n bale of cotton
shipped for every $40 or SIS borrowed.
The system of interior buying, which
is explained in the preceding article,
seems to be growing in favor.