The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-05-20
BREMEN's NEW EXCHANGE.
MIR. Williams Calls Attention to the
Growth of Arbitration.


A recent consular report from the United
States consul at Bremen, dealing with
the Cotton Exchange at that port, con-
tains informa ton of interest to Savannah
cotton merchants, and those interested in
the cotton business generally. Mr.. j. p.
Williams called the attention of the Morn
ing News yesterday to the report
As great deal of cotton is shipped from
Savannah to Bremen, the report Is of in
terest for more than one reason, as Mr..
Williams soon showed. 1t opens by stat
ing that the conversion of the new Brem-
en- Cotton Exchange was laid March p,
with the usual ceremonies, which in this
case, were performed by the Mayor of
the city, and the president of the Ex-
change. The consul remarks that the
building is to be the first in Germany,
constructed upon the American system of
erecting such buildings with steel frame
work throughout to be filled in lated with
brick and mortar.
1t was not this portion of the report,
however, which interested Mr.. Williams
but the statement which the president of
the exchange Yves reported as making at
the banquet given in the evening following
| the ceremony of laying the corner stone.
| This statement was in the shape of COM
ment upon the remarkable growth of the
| business of the Bremen Exchange, which
| the president illustrated by stating thai
| in 1875 only $1,000 bales of cotton were ar
bitrated upon by the arbitrators of the
| exchange. In 1887, twelve years later, S0O,-
| 600 bales were arbitrated upon while last
| year, after another period of twelve years.
the arbitration reached 1,4S1 COO bales.
While the report was evidently not
made with this intention" said Mr. Will
| liams, cit shows very plainly how the bus
| mess OF arbitration has grown at the for
| eign ports Bremen is now one of the
| leading cotton receiving ports of the world,
| and a great deal of this cotton goes from
| Savannah. There is a charge for the ar
| bitration of each bale of cotton, and l I'M
| derstand that there Is a large corps Of
| arbitrator at the Bremen exchange who
| make quite a handsome thing out of these
! arbitrations. This simply means that the
| classification Of the cotton Is determined
| on the other side instead of on this side,
| and that our people pay the cost of
| this determination. As 1 have previously
stated in discussing this question, it is ev-
! Identity the policy of the Bremen exchange
10 arbitrate practically all of the cotton
| received at that port. Not only is the cost
| of arbitration charged against the cotton,
| but the samples used IN the arbitration, I
am informed, become absolutely the prop
| erty Of the exchange, which in itself
amounts to quite an item in the course of
| a year"
| GAS well as can estimate it, said Mr.
| Williams, "the cost of arbitration and the
| value of the samples appropriated in this
manner amount in round figures TO about
| $4,000 This being the case the Bremen
| Exchange can very well afford to erect
new buildings on the American plan and
| to maintain handsomely furnished quar-
| ters. The point which l wish to make IA
| that every dollar of this expense should
| be kept on this side and in the pockets of
| our own people. BY the lack ofsystem in
classification we have permitted the
| grades of our cotton to be determined by
| the foreign buyers and our shippers are
compelled to abide by their classifications.
| The Bremen report is very strong evidence
of our need of a system of uniform CLASH
| fication."
Mr.. Williams will advocate the question
| OF uniform classification and expects 10
| have a bill prepared 10 be presented at the
| next session of the Legislature intended
| to bring about this result.