The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1905-05-19
THE MANCHESTER EXCHANGE
A Mammoth Afair-Iinmense Busi-
ness Transacted-Process OF Cotton
Manufactured and Marketing the
Mill Products.
American
Correspondence

Manchester. This institution, of which
we give photographs of the exterior
and interior, is practically the largest
of It's kind in the world. has a mem
bership of over 5000 and a daily at
tendance throughout the working days
of the week. with the exception Of
Saturday, of 1000, representatives of
all the principle industries of Great
Britain, but especially those pertain
ing to the textile trade. The other
principal businesses, such as stocks,
provisions, coal. corn and produce,
have their own local exchanges.
MANY METHODS EMPLOYED.
Many are the methods in putting
through the immense business in raw
cotton, textiles, etc, transacted in
Manchester, consequently upon the
various styles prevailing in the differ
ent markets of tne world where local
yarns and cotton goods are distributed.
The general principles, however, of
the local usages in this direction are
pretty much the same and may be di-
vided into four principal departments.
RAW MATERIAL TRANSACTIONS.
LIST. The sale and purchase of The
business is lone either by Manchester
merchants who are in direct communi-
cation with their own houses or agents
in America, or by Liverpool brokers
and merchants in a similar position,
on c. i. f. or deferred delivery terms,
or by sales Of cotton actually lying
iG Manchester or Liverpool o the actual
consumers. The attendance in Man
chester of brokers, etc, from Liverpool
is in most cases a daily one, with the
exception of Saturday, and they are
particularly numerous on the two prin-
cipal market days( viz? Tuesday and
Friday each week.
BUYING AND SELLING YARNS.
End. The purchase and sale of yarn.
Practically all the owners of the 4S.-
100000 spindles in Great Britain are
represented on the Manchester Royal
Exchange, and a fair proportion of
them sell their product through the
medium of their own employees. Those
who do not, put it into the hands Of
agents (Of which there are a gOCdly
number, many beng Of long standing
and high r~eputation), for sale paying
a brokerage therefor, the agency in
mos Of these cases guaranteeing pay
mont. The sellers, be they the actual
servants Or agents of the producer,
are in direct touch with manufacture
ers, and know the quality of the yarn
required, the extont of requirements,
and capacity 70: fulfilling obligations
both IN taking delivery and payment.
In fact, they know from A. to z. the
history and standing of the trade.
CLOTH MERCHANDISING.
3rd. The purchase and sale Of the
portion of the business in cloth
manufactured article. A large pro-
portion of the business in cloth is
done direct between those who ship it
abroad and the actual manufacturer,
and of these shippers, who are of many
~nationaIities, many are of long stand
ing and quite as fully aware of the
commercial position, the quality Of at
tainments and likelihood of fulfllment
of contracts, of the manufacturers
with whom they deal, as the arm
agents. The majority of the business,
however, is done through the medium
of cloth agents, who constitute them
selves the middle-men between man
ufacturers and shipper, easing the
former, by payment Of a commission,
from the necessity of having an en-
ployee running around from office to
Office to learn the requirements, and
obviates the shipper from promulgat-
ing his wants before the various man
ufacturers of his style of goods. In
some cases, also, these agents take, at
an extra remuneration, financial risks.
This medium business is generally
thought to be worth the cost, and DOT
one of those of parasitical growth
which if incised would be advantage
Gus to the trade.
DIVIDED PROCESSES.
1t is the exception in Lancashire to
do more thar one process between raw
cotton and the finished cloth. The trade
being so concentrated ObviateS this,
which is a necessity in most instances
in America and many on the CONT
nent. There are a few, however, who
d" take it all the way through, and a
greater numer both spin and weave.
but the majority only look after the
one department. The spinner produces
IAO yam, AnlCH Is pdSSeu vi W thS
manufacturer, who in turn passes Oil
his cloth to the firms, etc, dealing, with
the various processes of finishing, I'M
til, after passing through many hands,
it eventually comes into those of the
packer. This latter department is
equally important as its predecessors,
its function being so to pack the goods
that they turn out in proper condition
at destination. Sometimes goods are
packed in cases lined with tin for pro-
lection against insects, damp, ETC..
which is necessary to obviate damage
consequent upon the various conditions
OF climate, transport dangers, etc, en-
route to the consuming points.
THE MANCHESTER EXCHANGE.
The Royal Exchange contains every
facility for the transaction of the va