The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-09-03
WHAT COTTON MEN CLAIM.
The Factors Argument Before the
Tariff Association Committee.

The Factors Argument Before the
Tariff Association Committee.
There seems to be little doubt that the
differences between the cotton factors and
the Southeastern Tariff Association will be
amicably adjusted.
The following embodies pretty fully the
claims of factors 10 their protest against the
increased insurance: The construction of
the warehouses. they say, renders it i'm
possible to receive aud deliver all cotton
within warehouses during The busy season,
and hence the platforms and streets imme-
diately adjoining the warehouses are used
for this purpose. In view of this fact the
change III form adopted by the tariff asso-
citation will require them, while carrying
surplus, to cover all cotton contained at
night in'the warehouses, and,to carry addl-
tional insurance at a much higher rate, to
protect part of the same cotton for few
hours of daylight awaiting delivery to buy
ers. The cotton thus about to bs delivered,
where only at the factors risk few hours,
will require twenty-four hours inslr-
ance. The same argument, ihey
claim, will apply to cotton
being received at the warehouses which is
only left outside very few h urs, and, as
in the previous case, oily dariag day gat,
and are Immediately under the care and,pro
lection of the wareaousemen and their
HANDS. Ire assured also has 10 take great
additional risk from the uncertainty of the
quantity of cotton TO be received In any
single dav, and consequently, while carry
ing during the day almost double the neces-
sary insurance. on the inside of his warehouse,
would also have to carry an excess on t1e
outside TO cover any possible large delivery.
The factors called the attention of the
tariff association agents to the fact that
smoking in the vicinity of any warehouse
renders person liable t. arrest, thus avoid
ing any danger from such a source, and
| they claim that they can safely say that
| there has beea no fire originating on the
| outside of any warehouse in this city in
years. They further represented that they
are already struggling against very close
competition from through ships, and have
| reduced their charges Tor handling cotton
| mere to the lowest possible figures in order
10 obtain local consignmentS, and any in
| crease in local expenses will act disastroudy
| to that interest, and that II IL mutually to
tho interest of factors and the insurance
| companies to induce local consignmen5s, as
| the latter get no Insurance on through ship
ments-the marine policy carrying them
entirely.
The factors also urged this argument:
| That arrangements for warehouses are made
by factors at least three months before sept
l. and in estimating on rents the rates of
1
sequently all their warehouses are rented
upon the rates of Insurance. i'll existence
June |, and they submitted that notice of
such material change in tho form Of
insurance should have been given before the
date named.
| Some of the factors claim that the OBJ
| jectionable clause IN the policies applies
| with equal force TO the clause forbiddlng
more than 100 hnlss being stored in any
one compartment, as 1t reduces the storage
capacity of warehouse--for example, a
warehouse limited under this clause TO 4, 1000
bales can be made to contain 9, 500 bales,
and every bale be properly stored within
each compartment. This change increases
the rent OF warehouses, and Consequently
tho cost of handling local consignments,
besides coming upon the factors without
| notice.
These arguments will be laid before the
executive committee Of the tariff assoca-
ton, aud it Is believed that there will be a
modification of the form OF insurance so
that no additional Insurance will have to be
| paid by factors while receiving and deliver
ing cotton, or at least not this season. Tho
committee sent here seemed to be Impressed
with the weight of the arguments of the
| factors committee