The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-09-01
LIVERPOOL greAment In
tended to Safeguard
Shipping Documents.
STATEMENT MADE
B Y co NJ lit E E
Opposition Is Declared to Be
Due to Misrepresentation of
Workings of Bureau, Which
in No Way Casts Any Re-
Election on Integrity
of South.

New York. Angus; sI.-The new
"Frrerncrt intended To safeguard cot
ton shipping documents viii go into
effect tomorrow. and tho central bu-
reau provided for IN that agreement
viii be-! lis activities with the back
ins az i.fac;io il.-Ngu- tho cotton-carr
&ffs railroads. Il vas announced here
tonight 6y the Liverpool cotton bills
OF lad!ns conference committed in q
statement which explained the plan
adopted. and answered various cr!u-
c!sIns. The committee says 1t issued
the statement lin order 10 clear w
any Misrepresentation that may have
arisen from recent newspaper COM
ment. especially in the South" and
TO make clear the ends to which the
committee has been working.
The statement refers to the safe
guarding previously Of ocean bills of
ladlng. and TO the recent forgerles of
railroad bills. which led to a demand
for a change OF system. and continues:
Acting upon the general Demand
for reform OF some character. the Liv-
erpool committee drafted the agree
ment, which. with some notifications.
has now been signed by practically
all the cotton carrying railroads. This
agreement provided. az IN the case of
ocean carriers, that export bills of
lading should be issued against pnysi-
cal cotton and not against documents.
the validity OF which was unknown
The agreement also adopted the vail
dalton signature certificates. and pro-
vided for other safeguards against
Irregularities on the part OF the rail-
road agents. The agreement further
provided for the establishment OF II
central bureau. to which all OF the
railroads would send signed copies OF
every export through cotton Bill tf
lading issued. In order that exchange
buyers might advise this central bu-
reau OF the bills OF lading passing
through their hands, which bills could
be checked up by the central bureau
against the copies in their possession
for the purpose of effectunlly prevent
Ing forgeries"
Workings OF Plnn.
The committee statement explained
further the workings OF the central
bureau plan, and added that the pro-
posai to establish this bureau was pre-
scented to a subcommittee OF the bill
OF lading committee OF the American
Banking Association and approved be-
fore the railroads were asked 20 sign
this agreement.
"As far as possible" the statement
continues. "thc opinion of exchange
buyers. in various parts OF the coun
try was obtained, and it is the belief
OF the Liverpool bill Of ladng con-
ference committee that the exchange
buyers will unanimously Cooperate
when the full ADVANTAGES or the new
safeguards are apprenticeship bank
ers will manifestly wish to safeguard
themselves IL they eau safely do so.
and II the plan OF the central bureau
as now proposed is not safe for the
bankers. 1t VIII be made So"
The committee denies any lntima.
ton that the central bureau plan mas
been artfully devised Mo thrust upon
the American exchange buyers any
new and unknown liability" and says
1t Is not It's desire, no: that of Euro
pean interests" TO "blacklist anybody
connected with the cotton trade"
1t expresses the belief that American
exchanges will be glad TO co-opera tie
with European interests, both for
their own protection and for protec-
ton Of their friendly correspondents
abroad"
The committee disclaims any desire
to force upon any one plan watch
CONTINUED on Eighth Page)