New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-09-24
NO DEFEAT, SAYS HA|CHI
Liverpool Cotton Buyers Counsel
Tells of Conference.
SHIPPERS FOR CO. OPERATION
Statement Declares That Major
ity Desire to Keep Forgers
Out of the Trade.

Charles s. Haight. attorney for the IAv-
ernool Committee Of Cotton Buyers Issued
a statement yesterday regarding the recent
meeting held at New orleans on behalf OF
the Liverpool Cotton Bills Of Lading Con-
ference Committee. The statement begins
as follows:
While the fact has been generally PEI
alded that the South presented sono
$50 end that the movement for safe
puarding cotton bills OF lading against IoI
eerv was definitely defeated, the c0ntIa an ~
rs consDicuously true. when the ron
80 caiied for n vote upon the resolutions
thc following representatives voted IN tne
sfirmatIve: Nathan Adams, represeii1S!in l,
DALLAS banks: A w. Pollard, Houston ,t, ~ OF
gearing House: j. L. Newcomb, Shreye-
port Board OF Trade; J, R. Fippen, Mem Mem,
phis Cotton Exchange; sol MeNiSr' ~"
TouSton Clearing House; S McAshen
Waco Clearing House, W. y. JONES, 500 ond
Eastern Cotton Buyers Association p a rn1
A. p. Cole. Central Bank and Trust So"'
PTHS p. Moss. Of Atlanta. voted definitely
I'm the negative, stating that wmle ne 80. ."r
been appointed by the Southe&IsIedn 90 reY
resent the association, he had decilheu W
act under instructions 10 oppose tne P' ",
and had therefore attended at ms wv MH ~
nrnse for the purpose OF supporting t s
rentral Bureau The total votes cast Ior
the resolutions numbered eleNeh'
Tho IJverpool committee, according to
Mr. uaipht's statement. has received an
swers from Southern shippers, in reply 10
tho letters sent out TO them explaining the
new rules. which show an overwhelming
majority in favor of cooperation. Inc
statement then continues:
The resolutions themselves arc distinctly
af
In, preamble il IS stated that an eHorl nds
leen made ITO dictate 10 southern CUiItto'ii,
shippers ana bankers the method OF Dlil!i5
expOrt cotton and the terms upon NlllCl 'lV
e,ina shall be financed As a matter ol
fact however the dictation has come from
New Orleans. not from Liverpool; Inc t on
trtl bureau has been established, the rall-
roads have agreed to SEND 10 II ana AT, ar
sending to II copies of their DIS OF IduiII3
whenever the shippers consent thereto' d.. 49,
the shippers have been asked 10 give th"'
similarly. the exchange buyers have been
asked 10 cooperate by forwarding 10 t!e
central bureau advices as to the 1ocui Ei,t
lassing through their hands. Inc IaCni
iies OF the central bureau are at the ul,-
posal both of shippers and OF eNchdhse
buyers. , ..,.., ~. .bo
ljyerpool committee, eleven men, lepIt-
eenting less than a dozen OF the hdlA
hundreds Of shipping points In the many
cotton states assembled IN New 1879 t,r,1I
oI '''v y,ndortaken TO saw that. II they car
HELM IT, they viii not allow Shippers W -,
Opcrate whether they desire tc 90 So
not That does sound somewhat IKE uiVI"'
ton. .,,,e .,o+ tho
rroDosed plan involves the CertACatou OF
an export cotton ladng documents through
q central bureau located in New YORK tltN'
As a matter OF fact. il was well known
nv Mr. Wexler. who drew up the resoIu-
tions. that the central bureau VIII nov 0'i
coli n
Mr. Haight next points out that no
sound argument has yet been advanced by
any Of the opponents of the central bu-
reau plan. He says no exchange buyer
ought 10 buy cotton exchange who has
not some definite means Of knowing that
the signatures Of every railroad agent and
every validating agent are genuine.
II would he absolutely impossible, says
Tie statement. for every New York ex-
change buyer to have on file the signature
Of every bill of lading agent and every
validating agent Of every cotton carry
ing railroad in the entire country. IT f.
however possible to have one such COM
plete file, which shall be available to all
bankers, and that Is precisely what the
central bureau will be. The statement
then ends as follows
The Liverpool committee is entirely
satisfied that most Of the cotton shippers
Of the country are willing TO cooperate
in an effort to keep forgers out Of the
trade 1t will not take long for the com
mittee and the European buyers 10 ascer-
tain exactly who those shippers are.
When that information has been obtained
we shall all be able TO quiet down, and
the cotton shippers who are so violently
opposed to safeguarding American and
European bankers and European buyers
against forgery can sell their cotton 70
American spinneTs, while those who do
not feel "insulted" by being requested TO
help keep the forgers out Of the trade can
sell 10 the European spinners, and every
one will be happy and, better still, every
Cne will he safe