The Sentinel=record., 1912-01-21
STILL FIGHT
 LADING PLAN
LEADING COTTON MEN OF SOUTH PROTEST AT MEETING HELD
 AT MEMPHIS, TENN.
Alleae That LiVerpne4 Plan Is Repug- nant to Sound Business Prncj- ples-Many States Are
 Represented

Memphis, Tenn, Jan 20.-Bepre. sentative bankers, shippers and deaT CTS in cotton, whose interests extend throughout the cotton growing states of the south. reiterated today that the so,called Liverpool plan' ot bins of ading valuation through the medium ol a central bureau is 'repugnant to sound business principles" and re. used 10 sanction the plan as origi- ually drafted at the European bank CTS conference or as amended sey- eral times as to details. Instead q committee was appointed to meet with representatives of the European bankers and cotton men at Memphis Monday. to devise. if possible, another plan
 II, Kern, chairman Of the Liverpool cotton bills Of ladms committee, j. $ Hope Simpson, secretary of the European bankers conference commit tee, and Charles s. Haight repre-. sentative of the United States of the European cotton interests, who came 10 Memphis for that purpose. were the only advocates of the present plan at todays conference.
 They explained the plan in detail, but at the end of their argument the southern cottoa men were unconvinced and after three hours of spirited de- bate adopted resolutions denouncing he proposal.
 Sol Wexler of New Orleans sug- gested that a committee to be nanlod by the chairman of the conference. Elias Porter of Memphis. confer fur ther with the English delegation Men day He gave assurances that if the central bureau should be abolished he American Baakers' Association, of which he is a member, would draft substitute plan from which the fea tures regarded. as objectionable would be eliminated but affording equa safeguards to the foreign buyer oi sotton.
 Messrs. Kern, Simpson and Haight will remain in Memphis 10 meet the committee which is composed of W. e Lawson of Waco. Texas, : w King of Dallas Texas, M ". Will iamson of Little Rock, Ark. C. W Butler of Memphis and New Orleans, ,ad C. k. Smith of Memphis
 In the resolutions adopted the cen }ral bureau proposal is scored in terms equally as emphatic as in resolutions adopted ali a similar conference held at New Orleans several months agu
 Tine plan described as an extra0r- lbary and unique insurance" against lhe negligence of European cotton buy CTS in dealing with irresponsible per sons and firms and the effect of the pau, it is declared. would be to con Fir mthe common carriers of cotton iii heir indefensible attitude of denying liability for the acts Of their author zed agents
 While members of the conference deplore losses entailed by certain fraudulent practices by two cotton firms in the recent past, the resolu. Ions continue and although they de clare a favor of and will render act i've support 10 any and all reasonable, just and legitimate reforms in the method of billing and forwarding cot ton stil the central bureau plan in question both in it's original and amended form. is hereby condemned as being repugnant to sound principles n hat if proposes to invest bills oI ading with a status entirely inde pendent of considerations of the char atter and solrency of the shipper dis crim aatory, in that it imposes bur deas and hardships upon the cottof exporter and possible costs upon tht cotton producer from all of which tho producer and shipper of every othei 2mmodity is free and futile in tha the fiat of the central bureau eerti Fns to one virtue of geuuineness O signatures would place irrespcasiol and dishonest shippers in a position o' vantage from which they couh practIce a multitude of collateral il regularittes pregnant with greater in lory to the cotton trade than the iso lated danger of forgery"
 The remedy, 1t is contended. lie m the enforcement of more careiu 'ad discriminating business method on the part of hoth the carriers an buyers of cotton.