The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1908-05-21
recognition and hearty commentator
OF this association.

| OF this association.
Buyers Unrensonnble.
1.-THE difficulties, however, which
have been met by the members of this
association consequent upon the unreal
lsonable positions taken by buyers have
been multiplied, owing to the tact. az
| to know under rules OF trade and Gus
tom what are the rights of either
party. unquestionably these rights can
/ be ascertained by reference to litiga-
lsive. In litigation necessarily great
advantage would lie with the buyer.
lwho will have the advantage of being
and Mi nave the g
tered throughout the United States
would be under a great disadvantages
tordinarily in litigation. and doubtless
knowledge Of these facts in asserting
the unreasonable positions that many
lhave asserted. g
Questions Of quality are necessarily
differ according to the advantage to
lbe gained by either party. Some time
since the question was asked in a Lead
ling journal when do firsts become
lseconds?' and the answer as stated has
been found true by many Of us, name
| ly When the market declines
Many buyers who have been receive
ing goods from mills for many years.
and arc necessarily conversant with
the quality which these mills charac.
terized and sold as firsts, upon the de-
cline in the market. characterized these
goods as seconds and sought to can
Gel deliveries. Other buyers have even
gone further, and in some cases. con-
|sequent upon the delivery of a very
small proportion OF goods. which
might be questionable in quality, have
sought to cancel contracts Of large
size: in which the proportion Of goods
in dispute would be very small. The
losses to manufacturers. consequent
upon these cancellations have been
enormous. and it is but truth to say
that the last two years have shown
THAT the standard of integrity of buy
|er and seller is not as high as the trade
5ljustifies.
To Settle Differences.
j There should be provided a method
slof settling differences between buyer
and seller other than through the
courts. which are slow and vexatious.
4 Arbitration is the natural and just
method of settling these differences,
land there should be rules made appli.
gIcable to sales of cotton commodities
q providing distinctly for arbitration in
1.-THE event OF difference between buyer
land seller
."In other trades this method of set.
Itling differences has been found prac.
|ticable, and there is no reason why II (
should not be In the sale OF cotton
commod tiles. In the cotton trade
rules applicable to sales are clearly
defined. and various communities have
i adopted rules applicable to the sale
lof cotton to the manufac turers OF that
Community. which are we'll defined. are
readily enforcble and which prevent
friction between the parties to the COR
! tracts. and in the event of friction,
provide for quick and proper ap-
plicatton of remedies, Rules of the
same class should be made with ref
ference to cotton commodities. Your
Z committee does not hesitate to say
y that II the members of this associs,-
8 ton, who are cotton buyers and con-
$sumers. had at time applied TO the sales
sIof cotton the same harsh and unreal
sonable rules that have been applied
Ito your members in the sale Of their
commodities, the members of this as
Isolation could have bankrupted prac-s
& tically every cotton selling company
7 who had made sales to the members Of
Y this association, and who had hedged
. their sales as they legitimately should
have. If the rules have been made and
have been enforced In the cotton trade.
It is difficult to see why rules OF the
same class cannot be made applicable
to the sale of cotton commodities.
& Hard Problem to Handle. SS
/; Whilst, therefore, your committee
THAT the effort to reach a solution OF
. lit will require much time and trouble
. ION the part OF the committee, and Will
Require many conferences With the
; verters. your committee Is willing e
undertake the task. believing that Il
J, lis practicable to get up rules which
Z experience Will show can meet tha5
!, difficulties OF me present sltuation 4.
,,lthat they be continued for anothert
,tIyear: that they be required to report
Z Ito this association at It's next ans
Inual meeting. and thatln the meantime
they be authorized to have conferences,
las necessary, with other4representatiys
manufacturers and particularly With
Representative sales agents. hrokers,4
ID rNh
,sIton conlmodlt ties VI Sa8 s yg ss
ITO this end your committee recom.
Continued on EiGht FaRA