The Birmingham age-herald., 1911-09-01
LIVERPOOL PLAN
 GOES INTO EFFECT The Committee Answers
 Southern Criticisms TO BE FAIR TO ALL Provides for Central Clearing House In New York for All Cotton Bills of Lading In Order to Pre-
 vent Forgeries
TO BE FAIR TO ALL

S Nc York August si--The new agEee- ping documents will go into effect to- morrow and the central bureau provided for in that agreement will begin it's sciiVi- ties with the backing of practically all the cotton carrying railroads it was announced here tonight by the Liverpool cotton piiis of lading conference conm., m statement which explained the plan adopted and answered various criticisms.
 The committee says 1t issues the state ment in order to clear up any misap- prehension that may have arisen from re- cent newspaper comment, especialiN' Tn the south" and to make clear the ends which the committee has been working. The statement refers to the safeguarding previously of cotton bills of Iading and to the recent forgeries of railroadssh Ills which led to demand for change or system and continues:
 Acting upon the general demand for reform of such character, the Liverpool committee drafted the agreement which with some notifications has now been S1SItu by ptdClltdbi dii tho N'NNN'i VI } rving railroads. This agreement provldas, as in the case of ocean carriers, that eN- port bills of lading had been issued against physical cotton and not against documents, the validity of which was un- known. The agreement also adopted the yalidation signature certificate and pro- vided for other safeguards against irregu- larites on the part of the railroad agents
 Central Bureau
 s"rhe agreement further provides for the establishment of central bureau to which all of the railroads will send sign ed copies of every export through col ton bill of ladine issued, in order that exchange buyers might advise thls cen tral bureau 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 ptr- nose of effectually preventing forgeries.
 The committee statement explains further the working of the central bu- reau plan and adds that the proposal to establish this bureau was presented to sub committee of the bill of lading committee of the American Banking as sociation, and approved before the rail- roads were ask ed to sign the agree ment.
 A far as possible" the statement continues "1he opinion of exchange Tbuyers in various parts of the country was obtained and it is the belief of the Liverpool bill of lading conference committee that the exchange buyers will unanimously cooperate when the full advantages of the new safeguards are appreciated-all bankers will mani -;..l, fac ts I. fhRfnSRlNpG they can safely do so and If the plan of the central bureau, now proposed, is not safe for the bankers 1t will be made So.
 The committee. deniee any ntimation that the central bureau plan has been artfuliya devised 10 thrust upon tn American exchange buyers any new and unknown liability and says 1t is not its desire, nor that of European in t icrests, icklist anybody eonnecte'' with ill ,n trade.
 It'ssx,, the belief that Ameri= ca n esrl uyers will be glad to co- 9ope1utp ntsF ,opean interests, both fol. theii ,rotection and for pro Ttacticn2o i friendly correspondents abroad.r3 r.
 N to All
 2-A..,l @ col sdiscains any desire
 jrcetu l. V one a plan which Is
 air fG yantageous to every
 ---h f.apd nlpditica ton is neces- II to int ts fairness. or it's ad IA sres.l notifications will be 2 expd tf pperating the central |f tsJ D.. iit \ si l will be borne by q |t ef ortan Irance company, bus |i burdt pnd too onerous fol |t. ,ftonz4 riters. the Aineri- q nrouA e European bankers r w lild willing to subscribe |s- 1~sH- t --~>~ sS r6xTI, ON FACE s)