The Birmingham age-herald., 1918-06-09
Shows Up Conspiracy To
 Defraud Cotton Public
B. B. Conner Shows How Destroys Intent of Smith
 Bill By Is Swindlng, Illegal Methods

Calling the publics attention to our Herald May g, copies of which were sent to the Alabama congressman, House and Senate, also to the senators from the cotton states, particularly Senator Smith of South Carolina, the author of the Smith-Lever bill, and to the secretary of agriculture and to sundry mills
 We had previously complained to the secretary of agriculture of the swindIing game being played by the cotton ex- changes Of New York and New Orleans. submitting copies of the actual delivery or May cotton to our company both through New York and New Orleans, these deliveries showing that both ex- changes accumulate various types of low grade cotton and that same was be- ins delivered in settlement of contracts and at prices made by themselves.
 We charged that the exchanges were ssslnS loaded cice in playing the cotton game; that the certainty of "seven-come- eleven" was not a patch to the surety of their methods.
 : Below is list of cotton delivered us by New Orleans in settlement of one con tract:
 Strict low middiing, bales; strict low mdding, yellow tinge. l bale; strict low tfiiuQilHS. OH cOiOT, pale. LOW E, spotted, g bales; low middling off color, bales; low middling yellow light tinge, 15 bales; low middling Il bales; strict low middling, yellow light tinge. 5 bales; good middling, yellow stained. l bale; rniddiing. yellow tinged. l bale: strict good ordinary, F bales; strict middling, off color. l bale; middling, yellow sta in, l bale; low mddling, yellow tinge, : bales; middling, yellow light tinge, 3 I1-. .H..-sx xl z It.~x. oII-~wx Nj
 Sixteen different styles of low grade cottcn, not one mill in a hundred could use it. and they knew it. We had to take this cotton at an average of 2c a pound helow middling: the real differ ence was 6-so below midding. In other words, under the rules of the exchange, the seller was allowed to huddle togeth- CT lot of low grade cotton and settle their contract sale with us for 100 bales May cotton, and they were allowed to name the difference at which We should accept the cotton; the buyer had no voice
 In this transaction our company was ewindIed out of $500
 In the west last year on account of the early frost and damp season, there were many million bushels of soft corn; not peck of this damaged corn was of fereo on the exchange to fill contracts.
 
 tails, feet, jowls, chitterlings, to fill q contract for the sale of pork? Diseased hogs and cattle are caught and quaran- tined away from sound stock; embalmed heef is no longer allowed; cotton fur nishes the only instance where low grade or damaged stun can be gathered together and used as a club to whale the life out of the market.
 Middling cotton is standard and the price can be easily ascertained anywhere. Low grade cotton is not standard and the price is nominal changes with every sale and an cotton people know this.
 Quoting from Corn. Schwarz & Co.'S Ca commission house in New York; cis- cu,ar of June l.
 List of differences between gra tes above and below middling existing Tn II principal southern markets. the aver age of which governs deliveries on con tracts in this market"
 In other words, it is the price each dny of all the grades of cotton in these markets which govern the quoted price in New y ork. This circular quotes Gal weston. Dallas, Houston. Little ROCK, Memphis, Montgomery, Augusta. Savan- nah Norfolk, Boston and New Orleans as giving them the market June l for all grades of cotton. including low