The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-17
SCALING PRICES ON
STRADDLE TRADES
Basis Reduced Forty Points on
New York Liverpool
quotations.
INSPECTION STAFF MAY GO
Suggestion to Discontinue
Bureau for the Chasing
Of Cotton.

Y, ,c.aa, witnessed the first step in
thc ine,Itah,c scaling of prices accord
i-r 70 The plans by the conference COM
rtt'ese for The adjustment Of tho New
yors.Liyorpool straldlc Tho revision put
r,.,r,r-- r Sew York at $50 and Jan
u,r,.rcn~ulry at $50. thus marking
down december 50 points aud January
February 90 English points
e is believed that II viii not he long
ls,g., ,Ge maj adjustment price Of .
cents t1r December ami j.2j for Jan.
u.-,. l,brutry VII be reached and IL Will
b. interesting to see how much cotton
vii he rIudt'od on that basis. While
MOS FIRMS would have been glad week
or '-u days ago TO accept the cent level.
the new from the south has become so
encouraging that = feeling almost APP
p-oa,l.ug uuovaucy exists IN cotton cir
clos \ member ot an English firm who
Vas rr tuc Nuur OF the Cotton ENchaug i,
y-s.evs,, expressed the opinion that cot
ton voulf he selling AZ 10 cents by the
L-St ~ January. " any ra,e prices in
Oh. South are st'n climbing, with quo
t.tols In the Eastern belt markets show
Ing sharp rise for the day. Augusta
reported an advance of 1, cent, to tho
basis " 81, cents FOR midding. while
savannah also Was !, cent higher at SL
ctnts Norfolk also advanced a.
This rice IN prices Is duo partly to the
Efforts OF the Buy Bale" clubs. which
sr, increasing their activities in the
South There Is also spirit OF co.
operation which tends to give planters
courage The price Of 10 cents evidently
has been rNod upon IN barter trsnsac-
ions and ono piano company Is reported
- oncrl0- 20 accept cotton at 10 cents
per pound iu payment OF accounts or
for the purchase Of new instruments. One
enterpI-uC liquor dealer Is said to have
.od 10000 worth Of supplies through
out the prohibition South. taking cotton
in return on the basis Of 10 cents.
One suggestion made yesterday on the
hcor ~ tho Cotton Exchange created con-
siderable interest. II was to the effect
that the services OF the Inspection Bureau
bs dispensed with and their activities
discontinued. This proposal has for It's
primary purpose the cutting down OF ex-
nsnses in maintaining an organlzatio
FOR the inspection and CHASING of cotton
q, time when no work OF this char
scter s going OF. Moreover. ii seems quite
likely that under the operations of the
0.V law FOR the regulation Of cotton fu-
lures this work will he undertaken hy
Tho Government, or az least tho Govern
rent may exercise such supervisory pow
all not maintain the classification COM
r'!ttec as y has IN tho past Placed in
this Light tho situation met with the sp.
rrovdl Of A large number OF the mem
b'rs ~ the exchange, although some were
IN doubt as 10 the effect the step nigh
have on tho question OF deliveries OF
ro'ton on old contracts.
Trade news Is much more encoura cinr
Tran II has been for some time. Amer
-.
- opera'e more freely and II Il believed
hat within the next thirty days most
mills Will be operating on full time. En-
ports o: cotton naturally have fallen of
materially. Exports of 1850 bales were
-spor,ed Yesterday for Japan and China,
making total exports since August OF
1897 bales. against 533.i9l for the same
n.r.od last year. Port receipts yesterday
-.re le7s5 bales. against 1890 last
v,a-