The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1907-01-02
WANT Tt KILLED.
WOULDBARCOTTON EXCHANGES
FROM THE MAILS,

It Eas Cost the South Millions C.
Dollars During the
Past Year.
A dispatch from Washington sayl
representatives OF the cotton growing
interests Of the South are preparing :
date on which to bsse request thai
the postcface department. issue a frsui
order against the New York Cotton
Exchange. They are certain that the
information they will file Will make
issuance OF su'h an order i'm psrstiye
The matter wss tentatively presented
to the department. late Friday.
The grounds on which the postal
authorities will be asked to deny the
big New York concern the use It the
msils Is that it conducts q bushes.
which is not legitimate. The South.
erners are not making fight on the
business Of dealing In futures, per SO,
as they assert that the New Orleans
Cotton Exchange handles Its affairs in
q way which Is entirely legitimate,
and which is altogether different from
the methods Of the New York ex
change. II the postofdce department t
pursues the course that is usual ip
such matters the promoters of the
uovemsnt say that a order forbid.
ding the mails for the transmission OF
contracts certsinly will be forthcom
ing.
The principsl complaint against the
New York exchange is that the cot.
ton delivered on contracts sold on its
floor, is not Of the middling grade. OF
its equivalent, but q rotten" com
mooity which cannot be spun, which
is only ft for making horse collars,
N actresses, ETC.. and on which the
buyer, If he Goes not dispose Ct bis
contracts before notice" day must In
some cases lose more. than $40 per
bale, regardless Of price fluctuations.
In New Orleans, it is asserted, cotton
delivered on Contracts purchased In
the usual course Of future trading, Is
always the grade called for in the
contracts.
Persons who are interested in the
matter point to the Hids discrepancy
between the price~o cotton in New
Orleans and New York in support OF
their contention that the New York
exchange does not do business on a
straight forward. aboveboard basis.
This difference now is not far from a
cent pound, while the difference be.
twaen January and March on the
New York exchange Is from 80 to 81
points, OF nearly q third OF a cent
pound. To-day is notice day, and re.
cont dispatches from New York are
to the effect that many firms are will.
ing to receive cotton on contr'cts, II
rendered, inasmuch as the difference
Is considerably in excess OF carrying
charges, and that a profit would,
result frcm such action.
Southerne,s who are in touch with
the movement against the New York
exchange assert that nothing Of the
sort is possible, since any cotton de.
Iiversd would ba of the ",oaten" va
riety already alluded to, an that any.
body receiving 1t would certainly lose,
despite the difference in prices On
January and March contracts. There
sre only very few bslss Of middling
cotton in New York, 1t Is said, in the
same Qusrters.
representative Livingston, Of Geor
gis, who keeps closely II touch with
all mstters affecting cotton, disclain-
ed positive knowledge cf the move
ment to bring about the issuance o.
9 fraud order when seen Friday. He
told, however, Of having received a
letter from well.posted Southerner
who asserted that cotton growers In
the Southern states lost s3l, 1000, coo
the past year So result Of toe prac
ticss OF the Nav York exchange. Mr..
Livingston turned this letter over to
the secretary Of agriculture. who "a
piled, through the chief Of one OF his
bureaus, that the department. could
do nothing in the premises. The Gaor
gis congressman says that eforts to
secure the enactment Of regulatory
legislation has failed sad that, in bis
opinion, the only way to get az the
root OF the trouble is through the is.
susnca Of q fraud order.
The understanding in Washington
is that the Cooperative Farmers' Un.
ion is taking lively interest In the
matter, and some who are In touch
with the situation here think thas
that organization will submit the re-.
quest for a fraud order to Postmaster
Gsne1al Costelyou. President Barrett,
Of the unicn, has headquarters In Bar
nesville, Ga. It is thought to be PROF.
able that the Southern Cotton Grow
ers' association, OF which Har11e Jor-
6au, Ct Atlantis, is president, will al
80 take an active pat In ths matter.
MI. Jordsn's organization is the one
which Waged war on the bureau of
statistics Of the department. Of agri.
culture and sue c :edsd IN driving Chief
Statisticlan John hyde and E. S.
Holmes out Of the service.
Barkis is Willing.
In an interview at Topeka. Kansas,
Thursday, Wn. J. Bryan virtually
admitted that he would be a candt-
date for the Presidential nomination
before the next D :mccratic Oo1ven-
tion. While / have not yet announc.
ed that I would be a candidate" said
Mr.. BIysn, ST have not stated that I
would not be candidate. Such q high
honor as the Presidential nomination
is something tha: no American citl.
zens should decline" Mr.. Bryan said
there was no foundation tor the story
to she effect that he would, II noni.
0eteS favnr tho selection of Sapstnr