The sun., 1914-09-25

The board OF managers OF the New
York Cotton Exchange took no action
yesterday relative to the report by the
special committee on rules and rcEull-
tions as 20 necessary changes because
ui tie new Lever law. President Cone.
after the protracted meeting, said that a
dctate announcement would not be- made
until the end of this week or the early
part OF next.
feeling prevails on the exchange
that Liverpool is Inclined 20 exact the
pound Of flesh In the way OF q settl .
meni especially in view OF the fact that
tie volume OF liquidation ~ $50 and $50
Tor December WIS dsdppoluungiy small
Moreover Il Is feared that tho reduction
I'm the price TO cents may not bring out
fns results that have been hoped for.
While the local cotton trade realizes tn.
strained situation in Liverpool. thore is
also q natural disposition to consider In
teres;s throughout the American cotton
trade. This feeling which has been given
expression only IN general complaints,
took mors tangible form yesterday when
several houses announced that they In
tended to inform the Liverpool firms with
which they had commitments THAI they
would he responsible for profits on short
contracts only Down to the basis of ? %
for December. II Is not thought that
the conference COMMITTEES ar the voluntary
committee would care TO iudorse any
such action. and while the move II entirely
a matter OF individual choice. Il is likely
20 embrace quite a number OF firms. IN
other words, q - an expression ~ the
view that New York has done enough ~
putting UP margins to mark Its commit
ments down 10 tho basis prescribed bg
tho conference committee and that II Liv-
erpool does not care 10 iidu.date II tha'
figure Il will have To look 20 principals
Instead OF hrotors for tho profits on
strtdd'e operations
one interesting bit ~ news yesterday
was contained in the announcements that
.hc Egyptian Colonial Government had
dorrced q reduction of 10000 feddtns, or
A. per cent. IN the cotton acreage Of
E.Ept This means that the next cron
cannot exceed 100000 cauiars ca caut4r
is approximately 100 pounds. against
7,5ou000 cartars last year.
This announcement came in conjunction
with the publication Of "a letter by Cost
rlavlchi in tho Egyptian Gd-ot'e. ia
winch wIs set forth tho calamity 10 IN.
EuN ptaG cp'tup growers ays e result o.
IN. war Cotton IA Egypt has dropped
about 10 cents pound. and tie plight
~ the Egyptian agricultural population
is even worse than iu the cotton h,lt -
the United States, FOR Egypt h1s been .u
the habit ~ raising cotton and nothing
else As q solution of the cotton p~.h-
'om in Egypt n IA propo-ed by Mr
lIluNJPht mat tho NdNkS Nf FE' ~
should dvaucr 20 cotton growers t1o
q cnntar which would mean $50 a
bale. % 50o pounds each. lirsmuch a'
Egyptian cotton IS " fTh about twice a9
much as the upland cotton ir the South
the suggested ndvInce does not appear
.Ncessivo. II wa.s also proposed that
legislation he passed for the drastic cur
tpimcut ~ c.tton acreage This uu"s-
lion ~ course has been solved by Govern
mental decree
Tho New Nnri; Cotton Exchange - ey-
pectod 70 take an active interest In the
movement to establish nationwide sale
= cotton goods during the first week IN
Oc'oher The plan originated In wash
ireton under tho auspices ~ some OF tho
ladies' OF the Cabinet circle and Is being
given puhlicltv ,econd only 10 that NJ the
Buy . Balc' movement II Is even pro-
rlscd 20 hold a fair In which will he
displayed the couutloss articles Or an
Industrial character into which cotton
cntcrs Generous subscriptions from the
Cotton Exchange are alresdy foreshad-
owed,