The Greenville times. [volume] (Greenville, Miss.) 1868-1917, 1903-11-14
RULE NUMBER TWELVE.

RULE NUMBER TWELVE.
Our attention was called this week
TO the fact by several prominent bust
ness men of the city that the state
ment we made in last weeks issue
Of The Times that Rule No. IL, of
the Rules and Regulations governing
the Greenville Cotton Exchange had
been repealed was mistake, and that
In fact, only its amendments had been
repealed and that it stood today as it
did the day on of its adoption. This
was a surprise to US, for our informa-
ton came from members of that body
and believing the same to be true we
published it to the world without
making any further investigation.
After hearing the above statement
as to its not being repealed we made
the investigation this week to find
out the truth, and to our regret we
are compelled to state that the report
is true and that Rule IL still stands
as barrier to the cotton trade coming
to Greenville.
For the information of many who
have not had the opportunity to read
the Constitution and By Laws of the
Gresnville Exchange, we give Rule
No. IL bellows
"No member of this Exchange
shall sell cotton to anyone not
member of this Exchange, and no
member of this Exchange shall buy
cotton from anyone not member OF
this Exchange, excepting planters and
producers selling their own cotton. "
Now, several years ago Rule 10 was
amended to read sin 25- bale lots, -
which meant that no buyer mem
her of the Exchange could buy cotton
fron anyone unless q mem
Der, except planters Id PRODUCERS from
them in no less than 25- bale lots. Some
time afterward this margin was in
creased between the bu. er and seller
by another amendment which read
''in otsssof less than 8 bales"
At their meeting last week this
amendment was stricken out and the
following substituted:
"Any member of this Exchange
NAV buy cotton if lie be planter or
producre of cotton" or, along the
line of geometrical reasoning, accord
ing to Axiom 1, things equal to the
same thing are equal to each other,
which makes Rule 12 now read:
''No member of this Exchange shall
sell cotton to anyone not member OF
this Exchange, but any member OF this
Exchange may buy cotton from non,
member of this exchange, if he be q
planter or producer of crotton.
Anyone can see chat the only
change made in this rule is, that il
allow the buyer to buy, from ethe
wagon from one bale up, but as here
tofore, from only planters and PRO
ducers of cotton, which does not
aft ,rd +. lief 10 the present situation.
With every little town around
Greenville after our cotton and trade,
and we are sorry to confess, getting
q larse share of it, as the weekly cot
ton receipts OF the congresses and the
hooks of ou- merchants chow, there
is but one way, in our opinion, and it
is the opinion of the most of the
business men we have talked with on
the subject. to win back our rightful
cotton and trade, is, for the Exchange
to repeal Rule 10 altogether and make
Gresuville again an open market, al
lowing anyone who will to buy and
sell cotton upon the streets as in
former years.
There is no denying the fact that
taa merchant is the logical buyer of
t,e wagon cotton sold by the negro.
Through his daily association with
hun. he is brought closer in touch
With his business than any one else.
Through the sale Of his goods when
his cotton he can afford to
nav more than anyone else for it.
We do not believe this change will
Interfere with ths.bnysr or his bust
,,u for there is not one Of them in !