New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-03-31
CHEER FOR COTTON MEN
Representatives Tell Them Not
to Fear Congress.
DISCUSS THE SCOTT BILL
Exchange Members Give Dinner
for States Congressman
at the Waldorf.

Most Of the Congressman Who represen,
the Empire State at " ashugion were tn"
guests Of honor last night AZ y dinner
given ty members If Tho New York Cot
ton Exchange AT the Waldo-fAstoria. The
dinner afforded a fine ..ptortuuity for
closer acquaintance between some Of the
nations lawmakers and che members OF
a commercial body. which anticipates legis-
lafion Of nature more Or Ices harmful
10 iis interests
Tho possibility % p reint~oduction ~
the Scott I'LL which would psohlo.; trading
~ cotton options ~ the extra session %
the sd Congress. which convenes next
Tuesday. aroused the nh~rs ~ the COT
ton Exchange 10 Tho need n some action
TO prevent tho Passage r thig bill. II vas
~ith the view u having the matter before
the Representative from Do state % New
York. IN a rathe~ informal manner tia.
Arthur r. Marsh. president Il the *
change. arranged the dinner
Prs "tically al the states Congressman
accepted rho invifations and they ware
net b. NO hundred and fftv members
~ the Cotton Exchange oWt 81 total
membership Of four hundred and fftr IN
dinner shoud have sllayed anv fears a.
10 tho possible passage Of the scott bill
~ the extra session. rs the Concressrnrn
present appeared ~ he positive that -roh
calamity would not happen.
Mr. Marsh explained the Sit'Etton 30
fore Introducing the first speaker. ia
said that the lawmakers N Washington
were harburng an entirely wrong inlpres-
sion ~ tho character and inte@rit- Of mo
transactions. as " ell ~ Of the mo,lhers ~
the New york cotton Evchang" Iie 20
scriDed the visit Of Committee ~ cotton
mon 10 Washington and their N efi1t VITA
Uncle Joe" 'annon. tho former Speaker.
~ said that Mr. Cannon loo1r. tncm ever
md Impressed HE surprise &c soeir=
bunch Of meek men who vet could scuttl,
a ship or cut : throat
The New York Cotton Exchange Mr.
Marsh said. could he defined "a an associs-
ton Of cotton merchants primarily existing
COR the benefit Of merchants in cotton. a.
the members Of the cotton Exchange are
merchandising az present over ~ per cen.
81 all tho cotton crop IN thu United States
'rhe members Of the COTTON Exchange have
provided for many years the credit and tha
means for the gathering the moving and
the merchandising Of this product
THE impression IN Washington Is" SIR
Marsh continued. that defy authority,
that We refuse 20 obey tho government. and
that until We get of the high horse We shall
not be left unmolested There IS no BODY
Of men thar would more readily obey any
dictations If the government II they wers
aimed at intrinsic defects in the system
Cotton is constant risk. and the New
York Cotton Exchange exists only because
/ this risk must be assumed by somebody
and because there must he some means BY
which this risk can be distributed over the
whole world"
Congressman William Sulze3 assured the
cctton men that tine New INK members
Of the House OF Represent W would
take care Of their interests - csa cotton
men who are their constitunss would
back them up. Nr Sulzer ascribed the
real reason FOR tie demand for restric-
ton in option trades 70 a spirit 4 rivalry
in the South.
He said that the spirit ~ revival that
was noticeable in the rapid development
o. the South had reached the growers %
cotton. pho wished to make as much ont
OF their lands as possible who desired
factories I'm the South. and naturally
thought that they ought not only 10 raise
cotton but control its output
Al the guest table with Afr. Marsh were
seated Representative William Suizer.
John J. Fitzgerald. Charles Y. Fornes,
Daniel J Rlordau. George z. Malbv.
Henry VI. GoldfOge. .afferson VI. Levy.
Frank +. Wilson and stephen r Ayres.
Henry Schaefer. :. T. Hubbard. e. Minot
Weld. Theophilus Parsons. frederick G.
Dumaine. William II. Bonynge, Alfred
Lordly and James Harden