Pine Bluff daily graphic., 1918-05-30
New Cotton and Grain EXchanqe
 Will Increase Pine Bluff Business
Manager and Cotton Grader to be Named Soon for Local Branch of Big Organization J. C. Cooper
 Outlines Purposes of New Exchange

A manager and cotton grader for the Pine Bluff branch of the Am eriean Cotton and Grain Exchange, which will be established within @ days, may be named today, according to J. c. Cooper, president of the ex- change, who has been in the city since yesetrday in company with oth- CT officials. Both will be Pine Bluff men. It is said there are several ap- plicants for the positions.
 MT. Cooper and party will remain in the city today arranging more de- tails fer opening the branch office and tonight or tomorrow morning they will go to Little Rock to estab- fish branch. From there they will go thru Mississippi and then to Texas. before returning to New York. MT. Cooper outlined his project yesterday ! at the annual meeting of the Arkan- sas Cotton Dealers Association. Mr. Cooper, in the following state ment, outlined the purpose of his or ganization:
 "The American Cotton & Grain Exchange has been organized in res ponse to the universal demand for the better facilities and more reason able brokerage charges for conduct ing market operations. It will be op. erated in the interest of it's members and their customers along the broad est possible lines consistent with good and conservative business usages, giv- ing the manufacturers, elevators, re- liners, oil mills, exporters, cotton and grain merchants the benefit of trading direct with each other through the exchange daily, at the prevailing quotations without having their pro- fits absorbed by excessive comn.is- sions.
 "All trading will be done through the Exchange in New York City as we'll as clearing the business shipped through the port of New York. The exchange will have two or three branch offices in each state throug T. out the cotton and grain belts, and will desi signate other concentrating points, for receiving, delivering and clearing cotton, grain and other pro ducts for the convenience of it's mem- bers and their customers. This will make uniform price, less or plus the difference in freight rate to New York, thus stopping manipulation, as supply and demand will control the price on all these commodities, which will be an immense saving to both | the producer and consumer and a great improvement over the old sys tenn.
 "We wish to emphasize the fact that this is the only exchange in the United States through which you can buy and sell cotton in 25 and 5O-bale lots and upward, in even running grades, for any delivery and grain and other products in small quantities and receive the grades you buy and deliver the grades you sell at the near est concentrating point in the cottor and grain belts, designated by the Exchange, through bonded warehous es operating under government rules and regulations, in conformity witt the United States Warehouse Act The members will trade in cotton cotton goods, yarns, wool, silk, lin
 ters, sugar coffee, wheat, corn, oats rice, provisions, cotton oil, cocoanu
 oil, peanut oil, soy bean oil, and oth CT oils and cheplicals.
 "When cotton, grain and ether pro
 ducts have been classed, weighed anC
 certificated by an expert grader wht
 has been licensed by the governmen
 and bonded, the public will buy ant
 sell according to his grades ant
 weights, and the banks will be justi
 fled in making more liberal loans ol
 warehouse receipts on cashlnt shippers drafts with bills-of-ladint
 attached for full value on 30, 60, O |. 90 days acreptance. It, will be mucl easier to make deliveries on contract
 at the point of origin as the merchant factors and other producers will hay
 the privilege of shipping their rav products direct to the manufacturers
 elevators, refiners, and exporters, an they can ship their finished product
 direct to the merchants. Jobbers an
 consumers; which will save a bacl