The Brookhaven leader. [volume] (Brookhaven, Miss.) 1883-1891, 1889-08-29

has issued invitations to the cX-
changes and boards of trade Of the
different cotton centres to meet in
convention to agree upon n uniform
settlement of the bagging ques-
ton.
The call is as follows:
New ORLEANS, Aug. II, 1899.
To the President of the Cotton Exchange:
Dear Sir-In view of the fact that
both cotton aud jute bagging will be
used in covering the cotton crop of
the ensuing season and that the gross
weight value of bales is affected by
the very great difference in the weight
of the two kinds of bagging, it seems
necessary that the leading cotton CEN
tres should agree upon n uniform
method of adjustment of the differ
ence in tare.
The Board of Directors of this Ex
change have therefore decided to call
a convention composed of delegates
from the principal American ex-
changes and commercial bodies re-
presenting cotton interests to deal
with this subject.
This convention will he held in
New Orleans OH the 18th of Septem-
Der next. 1t is desired that your
body be represented and participate
in the proceedings.
Please advise us before the first of
September, whether you will send del
egates. Very respectfully,
GTANT n THOMAS
Official: President.
II. G. HESTER, Secretary.
Invitations as above have been
sent to all the institutions known to
the Exchange officials, but in case
any organization shall have been
omitted, its officers are requested
to notify the secretary of
the Cotton Exchange at once, as it is
desirable that the action arrived at
should cover as nearly as possible the
entire cotton interests of the United
States.
In support of this proposition for a
meeting to consider the bagging ques-
ton Mr.. Thomas, president of the
Exchange, submitted the following
views:
In the absence of an opportunity to
discuss an important question in n
convention of Southern exchanges
the New Orleans Exchange desires to
submit to them the following state
ment for their separate consideration
and approval: 1t is evident that two
kinds of bagging, cotton and jute,
widely differing in weight and value,
will be used for the covering of cot
ton bales. 1t is estimated that one
million or more bales of the growing
crop will be covered with cotton bag
ging. With the move which inspired
the production of cotton fabric for
the covering of cotton bales, we have
no debate. In the circular statement
of this exchange, on the DIST of May,
the conspicuous fact was stated that
1000, 900 yards of jute bagging are
annually emplOyedin bailing the crop
of 100000 bales; that the annual
cost to the cotton planter for this bag
ging, say $5,000,000, is sent out of the
cotton States in payment for foreign
jute; that if the bagging was manu-
fuctured of cotton 125,000 bales of
our great staple would be required for
that purpose, and the $5,OO0,000 ex-
pended for foreign jute would be re-
tanned at home and disbursed among
our own people. A stronger incen-
tive for the serious and positive teat-
ment of the bagging question by
Southern exchanges can scarcely be
needed.
If the Liverpool Cotton Association
favors jute because it is product of
the British empire, the same spirit of
loyalty to ones country would in
spire Southern Exchanges to fairly
maintain the American product.
The sale of cotton in American
markets by gross weight has been
heretofore unembarassed by any diff
culties arising from the weight of
bagging, because the bagging has
been practically. of uniform weight.
Now the introduction and the use of
cotton bagging weighing three-quar-
tiers of pound per yard, as against
jute bagging weighing pounds per
yard, compels attention to the great
difference of 81 pounds per bale.
The present method of selling cot
ton for gross weight price, which price
is based upon IA pounds bagging to
the bale, is hostile to the use of bag
ging weighing st pounds to the bale.
To continue to sell cotton indiscrim-
inately by gross weight, regardless of
weight of bagging, will be positive
discrimination against the lighter
covering and almost prOhibitory i'll its
effect.
The question presented by these
facts is simply matter of tare. 1t is
here worthy of note that in the sale
of all other commodities where tare
is allowed it fixed by the seller, and
is stated on the face of the invoice.
The same good reasons for establish
ing a proper tare in sales of other
should obtain in the sale
of cotton.
At the present time as is well I'M
derstoOd in the cotton trade, the
prices paid for cotton by the exporter
is based on net weight.
The popular idea that planters sell
the bagging and bands on their cotton
for the same price as the cotton in the
bales, is only simple delusiOn. AS
a matter of fact lie receives nothing
for the bagging and bands. Although
now appears on the face of
the transaction between seller and
buyer in American markets to indi-