The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-09-29

The Jacksonville Times-Union has dis
covered a mares nest. 1t has been max
ing study of the cotton markets" which
it says reveals some curious facts"
Among the curious facts which its alleged
study has revealed Is this one: The price
ought to be lowest at points most remote
from New York, because the crop goes
to New York for distribution, or else
/ goes direct to Europe or New England
! and the further 1t has to go the larger
! the amount taken out for freight. In spite
Of this the price is always lower at Sa-
vannah than any other place" The paper
goes on TO instance Galveston, Charleston
and Augusta as markets in which "the
price" is higher than in Savannah II
goes into a reproduction of quotations to
sustain its assertion that the price" .
lower at Savannah than elsewhere.
This Is simply one more instance Of ig-
norance setting itself up as a critic.
Otherwise stated the Times-Union doesn't
know what it is talking about. The cot
ton trade and all of the cotton producers
in the territory tributary to Savannah
know why there is an apparent disparity
between the cotton quotations Of this mar
ket and others. We have several times
taken the pains to state the facts witch
regard to the matter, for the benefit OF
persons who seldom come into direct touch
with the cotton business. 1t seems, how
ever, that there remains one daily news
paper that is uniformed. For its benefit
we once more touch upon the main
points.
With regard to Galveston quotations.
The cotton grown in the territory tribu-
tary to Galveston is of a longer staple
than the upland cotton of The Atlantic
coast states. 1t is between our upland and
our sea island cotton in texture, and sells
for higher figure in Liverpool and else
where. 1t is known to the trade as "Gulf'
or Orleans" cotton, and is often mixed
with sea islands by the manufacturers
With regard to Augusta, it sometimes
occurs for a month or two during the
summer, when the local stocks are down,
that the manufacturers there pay frac-
tionally higher prices for cotton. for a
limited number of bales. But the
suggestion that the value of cotton
in Augusta averages more than 3-l6
higher than Savannah is absurd on the
face of it. The prices quoted may some
times show the difference named. But
there is a big difference in the systems
Of making prices at the various cotton
markets. And in explaining those differ
ences we may include Charleston and Au-
gusta along with numerous other mar
kets that think they are competing with
Savannah.
In grading cotton Savannah sticks to the
old standard grades established long years
ago; other markets have adopted new
grades. higher than those of Savannah.
That is to say. the cotton they call mid
ding is of a finer quality than the cot
tor We call middling. Take two bales
of cotton of Identical fabric and color.
similarly clean and baled precisely alike;
ship one to Savannah and one to one OF
the other markets; and the bale shipped
TO Savannah will be graded as, say. mid
ding here. while the one shipped else
where will be graded as low niddlinr
there. Savannah gives the producer tho
benefit Of a less exacting standard In
grading.
Wherein is the benefit to the producer
of quoting middling cotton at prices
higher than Savannah's middling prices,
II his cotton is never graded up to the
standard of middling by the other mar.
kets samplers? Clearly there is none,
and the producers know it. The fact is
that other markets have changed their
systems of grading to a higher stand
ard for the very purpose of misleading
producers into the belief that they arc
paying more money for cotton than sa
vannah. They quote higher. but grade
lower.