The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-08-14
ARRANGE TO REDUCE
COTTON CONTRACTS
Exchange Managers Suggest
Concentrating Compliments
in One Position.
rorTH'S CALL TO ARMS
Sccting Of Growers and Other
Interests Soon TO Be Held
at New Orleans.
r0rTH'S CALL TO ARMS

go Board Of managers OF the New
YORK cotton Exchange took more definite
..eps At a meeting yesterday to pro-
-,a,e the liquidation OF cotton contracts
A.. f9recas, IN The SuS yesterday morn
,-s the method adopted calls for the
grouping OF all open contracts In one
po.,i,n. preferably December. at certain
.relaed differences. Circulars outlining
ne piua. whlcn calls only for voluntary
,.,'gu wH I've seat to members OF the
,x.harse this morning.
Tie Importance OF this action Is no:
,.ks'y 90 be underestimate by those who
realize the technical obstacles In the
VA q. bringing about liquidated con.
a,io- For instance. one trader might
b. .hor, OF october and another long
O, January. and both might be anxious
70 close their commitments. but would
Be unable 10 do 30. owing TO the fact
,hs, ;ne.r transactions were In different
months 4 concentrating all commit
meats IN the same position. II will be pos
t.b'e u bring a greater number of longs
an shorts together.
lJverpoo! has dealt with tho question
IN a similar fashion by putting all trades
or A basis u January February. Ac-
eordinz 10 cable message received yes
t..asy morning the same method WIS
rursvel wish regard TO contracts sold 70,
fAr1ot. delivery. The cable message said
"A, a meeting of directors held on
Monday 4; Vas decided for the purpos
81 reducing open accounts In this market
TINT all American future contracts after
Ausus;.Septeniber. 1915. UP to and In.
eludlnr January-February. 1913. shall bs
.-ars.erred into January February. 1915
q. the agreed upon settlement prices of
July 81
Southern Conference.
Ire south has decided TO indulge In
reneral conference on the cotton si,uI-
ton and the call has been sent on,
by Harve Jordan. president OF the
southern Cotton Association. for meet
lns az New Orleans on August - and
q Mr Jordan INDUCES in some inpos
ing generliit!es In his summons T-ler.
:, no doub; that he realizes the crisi,
TOW GO. fronting the South. III his cal
NJ Jordan says:
~ a result; % the present conflict be
7aea European countries. the Soutl
'a,ss a condition In the marketing OF IN.
cotton crop for 1914 unprecedented since
'as d-Fs ~ the civil war. Prompt anC
effective action must ~ taken u aver
;-'rend.ug disaster. Systematic pldul
?'ust o, devised for financing the crol
'lr'ugl 'he aid of tho Federal Govern
hen; and the cooperation Of Southerl
hanks Zach county must arrange 20
ua.ty ~ action in the issuance OF ware
house receipts for all cotton stored an,
'Ai that the whole machinery Of tn
''en Will apply Systematically 20 th'
.'t.re cotton belt |. the present Euro
rslu Vor Is protrarted the demand fo
AMERICAN cotton will be quite limited
.vag 10 tho paralysis Of tne operation
- foreign mills and inability 10 operate
c'sa0 ra-ry.rg vessels
liverpool Quotations.
t"erpool yesterday quoted January
Feh-lIry A. S.l:d.. with middl!ng un
changed a. sjod. The cable stated tina
'NAs@ prices 7ould hold until furths
nc,ss The frst official Southern quota
''o-. came yesterday from Augusta. ga
where nidAling from the old cro'
vas quoted ~ lli.c and new crop cottol
~ l''sc. sales we're only tventy-fv
ta'ss. The last price quoted by August
Was l3'.c Oh July 80. Japan was re
Ported 10 be buying strict middling II
the 0'e1o- % Texas at zoe
TaIas had further good rain yesterday
W. precipitation NJ inch to 3s inche
A. ialirEe-, brentwood. Clarendon. For
Worth, Henrietta. Weatherford. Sherma
Sl0 Dublin. Several other points re
'eNe1 from =. 10 "a inch.