The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1897-05-01
FLOATING COTTON.

COMMISSIONERS held a meeting in Mem
phis, and thoroughly investigated the
question Of floating cotton. What thf
decision. is not known at this writing
AID will not be known until the deci
sion is sent out from Washington The
following excerpt is taken from tbs
the proceedings had during the
tigation, under the caption
GRENADA AND W1NoNA CoMpREssEs:
THE next witness was Joseph New.
burger. Underdirect questions witness
said he was secretary of the Newburger
Coz ton Company and president nf the
Grenada and Winona compress con-
, panles. His firm bought il sixty FIVE
towns in Mississippi and had been buy
ing in Holly Springs for fou" years.
Most of his foreign shipments were
through New Orleans. The Boston
rate from Holly Springs was 70 cents,
with ten cents for compression. Cot
ton to Western mills was not com press,
bat all cotton for the East and foreign
markets was compressed. Until re-
Gently all export rates had been an
n0unced by Mr.. Anderson Of Memphis.
He mentioned several points where
there was no floating, to show that
there was heavy Discrimination in
favor of Memphis.
Witness claimed that Memphis had
a better floating arrangement than any
other city. He claimed that without
ti"ating the farmers would have TO ship
all cotton to Memphis and not fare SO
well as if they sold to a buyer at the
home station.
Under cross questions from Mr. Dana.
wituess said that the billing under
h"ating wassfrom the initial point and
not from Holly Springs, the compress
station. In ii shipment from Oxford,
the cotton went to Holly Springs.
where twast pressed and,rcshipped,
taking the through rate fron. Oxford.
the difference between the through
rate and the sum of The Holly Springs;
thpough rate, plus the the local rate.
from Oxford to Holly springs teing
refunded.
'Oa redirect examination he admitted
that substitution was pracliced at
Holly Springs. and tha: on cotton ship
ped out the railroad allowed it 20 be
shipped any" here. taking the through /
rate from any point on which witness
had.a freight expense bill.
Cress- questioned by Gen. Wright,
witness said that the Byhalia rate to
Memphis was too low and the farmer !
suffered by being able to ship tool
che.pIy. UGi.er floating the cotton ca q !
b. .shhppsd iD any direction except in |
a reverse direction from the ori ginal !
one. IN the of Oxford, Miss. the |
was shipped under local bill OF /
laGng from there to Holly Springs. |
u hen reship; Sd. the Is cents local rate
from .0XforG 10 Holly Springs was ap-
Piled on a tbrough rale from Qxford to
tie point, of Eaal destination Witness
owned the cotton till it was reshipped
and hebrew upon the sp:nnerfor it.
Under redirect examination witness
said that two-tntrds of the cotton which
he bought at Oxford this season was
;assed there aud billed through, simply
being stopped IN Holly Springs for
and nothing else.
Cnder r"cross'eXamination by Gen.
Wright, witness said that there were
40 floating arrangements Oa the illinois
Ientera( setween Memphis and Gre
DADA. There formerly had been, but
hey Isad been abolished on account of
'ction Of the Memphis Freight Bu-
eau. WitueSs finally admitted that
le bought cotton at Hernando and
shipped it through Gre,aJa. there
substituting cotton at the compress
md even taking cotton raised at
irenada and giving it the benefit Of
be 65 l-2 Hernando rate against Gre
lada rate of SO cents to New Orleans.
Witness owned the compress and The
Dad would have to Keep spe .ial .nlan
ht re to prevent substitution. Witness I
ndulged 10 the practice without the
;howledge or consent Of the railroad ,
'thcials."
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