McNairy County independent. (Selmer, McNairy County, Tenn.) 1902-1969, 1916-07-28

1915, but would rather be back on
the farm than to hear the yells and
growls of the bulls and bears here all
the time.
Walking down Wall street, past the
United States Sub-Treasury, on the
site of which, on June 30, 1888,
George Washington took the oath as
first president of the United States, |
turned to the right into Beaver street
and soon came to an immense build
ing on corner with a clock over the
entrance and sign which read THE
NEW YORK COTTON EXCHANGE"
The fat doorkeeper, who spoke with
strong German accent. told me to
go around to the side entrance; only
members were allowed to 90 in at
front. The loud voices of men, evil
IDENTIFY engaged in some sort of exeit-
ing business, came from within. /
had the good fortune to know Captain
Meyer, a retired Belgian sea captain,
who is head clerk for Morris H.
Rothschild. one of the foremost brok-
ers in the business, and so | had no
trouble id getting in. Mr.. Rothschild
(they pronounce it Rote-shilled) is
tall. handsome man of about my age
Ia little past SOY and Of frank, easy
manners one would hardly expect in
surroundings like that, where most
men become hard as carbon steel in a
fgurative sense. The tickers were
going under their little glass bells,
the tape slowly winding out giving
the fluctuations of the cotton market
| from the pit" below where all that
"hollering" was coming from. and
Capt. Meyer in neat figures was en-
tering the results on big blackboard
in columns WHICH were headed by the
names of the month traded in. The
prices were a little below Ii cents,
there being 100 points for every cent,
so that every minute or two the
prices would come 1885, 1890,
1884," etc. The months farthest
away, such as December and January,
showed the highest prices.
| Mr.. Rothschild took me down to
| the floor of the Gotten Exchange it.
| self, right to the pit" place where
few newspaper men are ever allowed
to penetrate, for so many of them
misrepresent the facts they pick up
The noisy calls of the brokers and
their clerks were deafening. They
we're gathered inside sort of raised
ring, consisting of few circular
steps forming a ring perhaps thirty
feet in diameter. In the center were
: clerks taking down the orders to buy
and sell which were shouted by the
men to each other at the tops of theil
voices. II was no job for man will
, a cold. ! could hear July 80" DE
cember 13---7,' ETC., hoarse roarl
{ mingled with sharp yells. some fel
{ lows splitting out their orders will
sharp jumps and waving their arm
> wildly. Around the walls, elevated
: above the floor, sat clerks on plat
4 forms with chalk pencils writing dow
g the orders and prices. How the.
caught all those orders, and how any
body could understand anybody els
!, at all, in that indescribable hubbut
was more than ! could imagine, but
was evident that everything was 20
ling like clock work, and every ma
knew just what he was about.
Mr.. Rothschild introduced me t
n Mr.. Shut, vice-president Of the Cot
. ton Exchange, tall, wiry, very white
a complexioned man Of Scotch appear
. ance, about sixty years old. ! tol
I. him about your paper, and about tn
It cotton interests there, and if | ha
$. been the special representative of th
N London Times or New York Herald,
in would not have been more courteous
ID ly treated. Mr.. Shut took me aroun
and showed me how every week da
X morning, weather maps and detaile
o. weather reports from all over tn
or cotton belt were received from til
l. G ,vernment. A minute scientif
De study is made of all these, togetht
y, with reports of receipts and gener
of movement of cotton at all the prime
It, pal ports of the world, and ever
st other feature that could have at
ed possible bearing on the crop or stoc
Nv on hand. | was informed that the
es was no guess-work or arbitrary met
u cd of fixing prices, but that they a
nd governed by actual conditions al
re prospects, and BY the probabilities al
las conditions of supply and demand.
.ty asked Mr.. Shut just how prices we