The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-09-23
WEATHER AND THE COTTON.
II. j. Fahey Says There Is Consider
able Damage to the Crop.

Mr.. F. ]. Fahey, a member of the
New York commission firm of Ware
& Leland, who have just opened
their private wire Office in Savannah,
was in the city yesterday. Mr.. Fahey
has been paving hurried visits to the
several new offices the firm has re-
Gently established in the South, and
At the Cotton Exchange, he was cor
daily received, and formed many ac-
quaintances.
Sentiment as to the cotton crop is
greatly mixed at present, according
to Mr. Fahey, who has mingled with
cotton men through the Carolinas and
Georgia from whom he obtained opIn-
ions as to the condition of the crop
in various sections. There are times
when opinions differ to an extent that
precludes the forming of an intelli-
gent idea. as to general conditions, and
this seems to be that time. Through
out the cotton country weather con-
ditios have varied. floods having pre-
vailed in the eastern section. While IN
others temperatures have fallen TO a
degree to materially affect the growth
of cotton. Until the effect of wealth.
er conditions which have recently af-
fected cotton are known an intelligent
ldea OF conditions cannot be formed
Mr.. Fahey is not disposed to exag-
gerate the reported damage to the
crop. and while he believes it exists
to some extent, it will be some DAYS
yet before the index finger will point
with reasonable reliability to the prob
able outturn of the crop
Mr.. Fahey said regarding the in
n n lon NE
ton country that it will be the policy
to continue this service. He believes
cotton traders have reached a point
where the quickest and most reliable
market information and quick eye
cution of orders is desired. and recog-
nizing this his firm intend to make
their facilities the more useful to the
trade They now have 1888 Offices in
me United States. which gives them
world ~ 'Ae
The bucket shop exists. and the 6eb+
of the Legitimate houses with them
must be largely of an educational ma
ture, said Mr.. Fahey. THE New Yorl,
Cotton Exchange is working svste-
matlcally in its efforts to extend traders
facilities that will afford them nrotsc0
tlon, ana its work has told effectively
One man asked me the difference he
tween a bucket shop and a legitimate
commission house. and I was calIeS
upon much to my surprise, owing IN
ms position, to explain the difference
Ihere are numerous differences. an1ong
them being the one that executions are
made by the straight house
on the floor of the EXCHANGES
where the business is done. and moi In
a fictitious manner. as in the buckat
shops. The legitimate house carries tic
customers order to buy or sell cotton
on the floor of an exchange. and se,
cures the best possible trade from a
financially responsible person. More
over, II is the disposition OF a ma foritv
or traders to buy, and IL their business
Is concentrated on the EXCHANGES
through our legitimate houses the 81
feet OF this better demand is felt IN
higher prices, whereas, when an order
goes unfelt into bucket shop Ire
price Of the commodity is not influenced
either way.
What seems 10 me the most iunnor.
tant matter for the legitimate Arms IN
get before the cotton trading public
and all other Traders. IL that tbeir ~
forests are the interest OF the ors,
through which the business is placed P"
faid Mr. Fahey. Returns 10 ne ans.
toner are what the exchange houses
want for then they have the beuagts
nat follow 4 satisfied clientele. Not 40