Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1889-08-23
RAGaTNG CONVENTION.
Call Issued by the New Orleans Cotton
EXchange-AbOut Tare.
Convention Called to Meet September IL.
Jute or Cotton, that's the Question.
Simply Matter OF Tare"

Simply Matter OF Tare"
The New Orleans cotton exchange has
issued invitations to the exchanges and
boards of trade of the different cotton
centers to meet in convention to agree
upon uniform settlement OF the bagging
question. The call is as follows:
New ORLEANS. La. Aug. Il. 1889.
To the President Of the Cotton Exchange.
DEAR SIR-In view of the fact that
both cotton and iute bagglng will be used
i'll covering the cotton crop OF the ensu-
ing season and that the gross weight
value of the bales is affected by the very
great difference in the weights of the
two kinds of bagging, it seems necessary
that the leading cotton centers should
agree upon uniform method OF adjust
ment of differences in tare.
The board of directors of this exchange
have therefore decided to call conven-
ton composed OF delegates from the
principal American exchanges and COM
mercial bodies representing cotton inter-
ests to deal with this subject.
This convention will be held in New
Orleans on the 18th of September next.
1t is desired that your body be repre-
scented and participate in the proceed
ings.
Please advise us before the lst Of Sep
TENDER, whether You Will send delegates.
Very respectfully, 81
Official: STANLY O. THeMAs.
H. O. HESTER, Sec y. 81 Pres't.
In the absence of an opportunity to
discuss an important question liza con
Orleans exchange desires to saAnfS to
them the following statement fof8neir
separate consideration and approval: 1t
is evident that two-thirds of bagging,
cotton and jute, widely differing in weight
and value, will be used for the covering
OF cotton bales. 1t is estimated that one
million or more bales of the growing crop
will be covered with cotton bagging
With the motive which inspired the pro-
duction of a cotton fabric for the covering
of cotton bales, we have no debate In
the circular statement OF this exchange,
on May p, the fact was stated that 80, -
600 900 yards Of jute bagging are annual
ly employed in baling the crop Of 900,
600 bales; that the annual cost to the cot
ton planter for this bagging, say So 900, -
600, is sent out of the cotton states in
payment for foreign jute; that if the
ba@gtng was manufactured of cotton
l25 900 bales Of our great staple would
be required for that purpose, and the
So 600, 900 expended for foreign jute
would be retained at home and disburs ed
among our own people. A stronger in
centive for the serious and positive treat
ment of the bagging question by Southern
exchanges can scarcely be needed.
Invitations as above have been sent to
all the institutions known to the ex-
change officials, but in case any organi-
cation shall have been omitted, its Off
GERS are requested to notify the secretary
of the cotton exchange at once. as il is
desirable that the action arrived at
should cover as nearly as possible the en-
tire cotton interests OF the United States.
In. support of this proposition for a meetl
ing to consider the bagging question Mr..
president of the exchange, sub
mitted the following views:
If the Liverpool cotton ASSOCIATION
favors jute because it is q product of the
British empire, the same loyalty to ones
would inspire Southern eX-
changes to fairly maintain the American
product.
The sale of cotton in American markets |
by gross weight has been heretofore UNI
by any difficulties arising |
from the weight of bagging, because the |
Oagging has been practically of inferior |
weight. Now the Introduction and use |
IF cotton bagging weighing e-fourths !
pound per yard as against jute bagginG' |
two pounds per yard, compels |
attention to the great difference of eight |
and three-fOuTths Of a pound per bale.
The present method of selling cotton |
Tor gross weight price, which price is
based upon fourteen pounds of bagging
% the bale, is hostile to the use of bag
ging weighing five and half pounds
% the bale. TO continue to sell cotton
Unfortunately by gross weight, re-
gardless of weight of bagging, will be a
positive discrimination against the lighter
covering, and almost prohibitory in It's +
effect
The question presented by these facts
s simply a matter of tare. 1t is here
worthy of note that in the sale of all
'ther commodities where tare is allowed
t is fixed by the seller, ard is stated on
ace of the invoice. The same good
easons for establishing q proper tare in
ales of other commodities should obtain
n the sale of cotton.
At the present time, as is well unaer-
TODD in the cotton trade, the priceSSDaid Y
or cotton by the exporter is based On net II
weight. N
The popular idea that planters selTths
agging and bands on their cotton Ef8r
he same price as the cotton in the balss.A
5 only simple delusion. AS mattsr of &
act he receives nothing for the ba&giag
nd bands. Although nothing nQ& ap-
ears on the face of the TRANSACTION be-
ween seller and buyer in American mar
cts to indicate the deductiopFoT gross
7eights for tare, vet that deduction is
lade by the buyer, and not from the
7eight but from tie prices.
The exporter sells his cotton in foreign
larkets by net weight, which is at pres
Mt ascertained by deducting per cent.
IF gross weight, and hence he must buy
L the same basis. At present the tare
ppears IN the diminution of price paid
er pound. By a diminution of weight,
Y tare allowances. there will be q cor
increase in price per pound Is.
The importers who pay 10 cents .Esef
ound for gross weight of cotton VIII pay
D 80 for net weight, ascertained by an
llowance of per cent. for tares On jute (.
aging, and 10. IS for net cotton neot-
IN bagging. ~
For example:
lutte RAGGTNG -