The Montgomery advertiser., 1906-09-07
NEW YORK
 SETS PRICE. Cotton Operators Answer
 Questions. BUCKET SHOPS MEASURE UP Council Committee Holds Open
 Meeting on Subject.
only Two Unfnterested Persons Pres ent at Special Session, and Half
 Dozen Operators--Holloway
 Act to Be Argued Sept. IT.

Does the New York Cotton Ex- change dictate the price of cotton?"
 This was one of the questions put to the cotton operators who conferred and Judiciary of the City Council In the Council Chamber by Alderman Holloway last night.
 The answer was that it's power as the United States made'it possible for the commercial capital of the country to regulate quotations, although, the cotton men admitted, that in their center of cotton trading and should have some voice in fixing the price of the staple.
 The Committee met a few minutes all who felt an interest in the Hollo- way "bucket shop ordinance, were invited to be present. and were given permission to address the meeting. dozen cotton operators and two oth- CTS not directly interested in the meas ure were present in the Cuncil Cham Der when the meeting opened.
 which hVur %as pdeep in a" consultaton @ paid no attention to the visitors to the Council Chamber. They finally arose and began to file out when Alderman Committee desired to ask a few ques- tions
 c. c. Delaney. manager for Ware and Leland. W. F. Neill. manager of Loveman L $ $ Company; tS;.,mb7o R. B Flynn and James Haygood, with the Virgin & Fdunce Company, responded and gathered about the table at which the committee was holding its delibera- tions Mayor Teague and J. C. Fon- vile. manager of the Western Union Telegraph Company, were also pres ent.
 The meeting adjourned at ten min utes to 10 o'clock and the intervening time was devoted principally to dis cussion as to what constituted the diff ference between bucket shop and an authorized trading house. The com mittee wanted to kpow and the cotton men tried to explain. They represent ed that an authorized house was rep resented in the members of the prin- cipal cotton exchanges of the world. and that every transaction they made was recorded. and that when a man placed an order to buy a quantity of cotton. it was necessary for them 10 find a seller before they could con- slider a deal made. The bucket shop. they declared, was subject to none of these conditions and restrictions, and if they chose to operate illegally the chance for detection was small.
 One of the operators present declared there were so-caled bucket shops'' in operation in Montgomery but he claim ed the house he represented was legitimate company ana ne Qld not reef the Council had the right to force them to discontinue his business.
 As far as the moral aspect of the business was concerned, he said, there was nothing more reprehensible in a mans studying cotton conditions and speculating on options than 1t was for man to pay an option for a certain piece of property which he felt would advance in value.
 At the conclusion of the meeting AL derman Holloway stated that the or dinance would ccme up at the next meeting of the Council, September IT.
 Beer is as much predIGested food as the sOcalIed predigeAted breakfast foods. The process of mnItinE the grain is the same In both. It converts tho starchy matter of the cereal into malt sugar which IS very assimilnble and