The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-06-17
TO CONTROL COTTON IMPORTS.
a Clearing House at Liverpool to Reg
ulate and Cheaper TRANSPORTATION.

clearing House at Liverpool to Reg
ulate ana Cheapen Transportation.
Advlces from Liverpool contain informa-
ton of proposed central bureau or clear
ing house for cotton, through which all
business between importers whether in
Liverpool or Manchester) and shipowners
could be transacted. The chairman of the
Liverpool Cotton Importers Protective
Association Qimitedl has addressed a letter
20 the president Of the Liverpool Cotton
Association Qimited) giving the proposed
details Of the new bureau. They are as fol-
lows;
'All bills of lading and relevant delivery
orders could be passed through the bureau.
which could obtain full information as 10
the exact out-turn Of ships, assist in clear
ing and apportioning their cargo, and in
the case OF overs it could doubtless be
arranged that it should take charge Of them
under letters of indemnity holding such
cottons until the rightful owner is found.
All loose cotton could be claimed from a
ship, and either be apportioned or sold and
the proceeds distributed among the various
consignees.
"Of course it cannot be doubted that mat
tiers In dispute between individuals and the
ship indemnity associations could be more
S~HSAJ cOeeAOa bu6 OF q
powerful association such as this would be
than By any separate action Aims beyo I'D
those here indicated will doubtless ulti-
mately come within the scope Of the bureau,
For instance, the chairman suggests, it is per-
fectly possible that the bureau may be pre-
pared to insure for u very trifling charge
the due delivery OF cotton shipped under
certain specified conditions, paying for auy
short deliveries, thus diminishing the risk
"a nFAGonf fhn - H.,
1t will also be desirable to establish agencies
in America for the tracing of missing COT
ton, report on irregular shipments, such as
the marks and numbers Of bales going by
other vessels than those for which they were
| intended. The Importance of this for in-
surance purposes can hardly be overesti..
| mated
1t is intended that the bureausshall re-
present the cotton trade of the whole United
Kingdom. 1t will not be a company for
| the benefit of any section of the trade or
| individual member, being based on mutual
| principles, and payment to its funds being
exactly proportionate to the extent Of each
| importers interest. As soon as a sufficient
reserve has been established the assessment
| will he reduced so as only to cover the
| working expenses. The expense attendant
on the administration of the bureau will, of
course, be very considerable, but If it is to
| carry sufficient weight in arranging mat
ters in dispute with similar and powerful
associations. in the shippers interest, it
must be possessed Of ample funds to back
its opinion IL necessary. 1t is proposed to
levy an assessment of I'D per bale on all the
American cotton going to Liverpool.
Briefly, the whole question is this, con-
tinues the manager "If Manchester is to
continue to hold her own with her competi-
tors she must get her cotton as cheaply as
possible. One means to this end Is to re-
duce the risk, and with it the cost of transit,
| by forming combination Of those inter
ested in the import of cotton, directly or in
| directly, for it must be remembers that,
although the Liverpool merchant would be
benefited. the ultimate advantage would
rest with the Manchester spinner. The in
terests involved are so large the value of
the American cotton annually imported be-
| ing upward Of eos, 900 .000), and the bene-
| fits to bs thus obtained are SO important to
the well-being of the whole trade, while the
cost. if any, to the Individual importer
would be 80 small that my directors would
ask your association to take the initiative,
and to call meeting at an early date OF
| all the branches Of the cotton trade to con-
slider the question In all its bearings"
In accordance with the foregoing request
an international cotton conference has been
| called.