The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1906-08-08
OFFICIAL. YEAR
TO Be CHANGED.
Cotton Crop is Put or Mar
ket Earlier Each Iear.

sue today:
Improved culture mvtlr"l! AZ, each
season rcspo,..i5Ir for more ;,'!d more
nov crop cotf"n being n1;:rH"t''! III Au-
gust. The c,.'l$uS buy ~ show" tina,
III, 10 the !ir>t ur September. !!"E',
there were Eiuncd l...:;! bales of ncw
cop. Up to the sam" date III l'"l tn"
record stands :;~11 'I" bales, which was
increased III the season nf 1905 to iS:i,-
S43 bales. A. established by these
figures the crop is maturing earlier
each year bringing into the statistics Il
large number Of bales of new crop cot
ton which are counted in the old crop.
To remedy this defect and adjust the
record to altered conditions, it has been
urged that the official year be changed
to extend from August l to July 81.
This plan was formally endorsed by the
International Cotton Conference held in
Washington on the second Of May, and
later by the American Cotton Manufac-
turers'A Association at it's last convcn-
tion. Secretary of Agriculture James
Wilson and the active officials of the
New York and New Orleans Cation
Exchanges have described the plan as
q sensible one in communications ud
dressed to G. =. Bryant, secretary of
the American Cotton Manufacturers
Association. With practically every
party at interest in favor Of SO desira-
b]e q change it would seem that it
ought to be made.
Col. Henry C.. Hester, secretary Of
the New Orleans Cotton Exchange, has
s-gnified an intention to issue his future
reports as from August /, as we'll as at
present from September l. He has
figures for many years past, and will
give these 80 that accurate compari-
sons can he made, thus obviating any
possible confusion the trade might other
wise labor under.
The trade is also suffering from a
fragrant evil which ought to be prompt
ly remedied. A comparatively insight
ficant..stock of low grade cotton in New
York warehouses amounting on Mon
day last to only SO, $40 bales is used to
hammer futures and punish the mills
1t must be clearly understood that
while this cotton is deliverable on New
York contracts it is mostly made up of
grades SO low as to be worthless to the
average spinner. This has enabled the
speculator to depress the price Of fu-
lures until they commonly rule at
cent pound below spots at interior
the South. This is equivalent to one
point in the South. This is equivalent
to one and one-half cents pound land
ed in the mill warehouses. The manu-
facturer is then confronted with the
necessity of selling his goods on the
basis Of future" prices and on the
2th7: hand must rerforce pay the 1-2
cents higher price for actual cotton
when he enters the market.
This is condition which ought to
have been altered long ago. A very
simple remedy is advocated by the
American. Cotton Manufacturer Asso-
citation. It is proposed that instead of
allowing almost any sort of trash to be
delivered against contract that the
following rules shall govern:
Cotton to be of any grade from low
middling to fair inclusive, and if tinged
or stained, not below low middling in
value (fair color).
''Price to be based on middling, with
additions and deductions for other
grades to be made according to rates of
cotton exchange existing on the after
noon of the day previous to the date of
notice of delivery.
-. ''No certificates Of classification to
embrace qualities more than four-quar-
ter grades above, or below, the mean
grade Of the cotton covered in such GER
tificates
mo dusty or gin-cut cotton to be de-
iverable. Dusty cotton being defined
AS cotton being lessened in value
more than one-eight cent by reason Of
dust. =.
mo cotton containing more than one
per cent Of sand, or more than one per
cent Of burr, or more than one per cent
of any other foreign substance, to be
deliverable under this contract.
ono cotton to be deliverable under
this contract unless S0per cert of said
cotton has a staple overl1-16of an inch
in length, as determined by the CLASH
hcation committee.
.'No linters shalt deliverable under
this contract" D.. -.. - :...:.....
Such contract would enable spin
ner to accept delivery of cotton on his
purchases Of futures and ensure his
getting spinable grades: At the same
time most potent speculative weapon
would be wrested from the hands Of the
professional market operator and the
mills would have their positions mate
rally strengthened. By pressing such
\ reforms the organization Of manufac-
:: turers amply justifies its, existence.