The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-11-10
INAUGURATING PLAN
FOR COTTON QUOTATIONS

Washington, November 9-(Special)
Hereafter the farmers of the south will
not be dependent on local cotton buy
ers for information as to the market
value of their staple.
The bureau of markets of the depart
ment of agriculture is inaugurating a
cotton price quotation service and will
issue reports from five important points
in the cotton belt. Cotton seed prices will
also be covered
The first report will be issued from
Memphis for the district Immediately sur
rounding that point. Other reports will
follow from Atlanta, New Orleans, Char
lotte and Dallas
In announcing the price quotation SER
vice for cotton, the bureau of markets
states that producers and even dealers in
terested in cotton have always lacked
sufficient reliable information as to the
actual market values of the different
grades of cotton in the various primary
markets and concentration points in the
cotton belt. A recent amendment to the
United States cotton futures act pro-
vided authority and funds to enable the
Secretary of Agriculture to inaugura tie
a quotation service which would furnish
producers and others the needed infor-
nation, particularly in view of the fact
that as result of the amendment, an
important outlet for 10 of the lower
grades of cotton which had pre-
viously been deliverable on future CON
| tracts had been closed. The closing of
| this outlet for these 10 low grades OF
cotton has emphasized the need for a
quotation service of the kind which the
government is now establishing.
| Reports of purchases and sales of cot
| ton will be gathered from country buyers,
country merchants, dealers, brokers, COM
mission merchants. factors, mills and
others who buy or sell cotton in the inn
portant country markets and concentra-
ton points throughout the cotton belt. On
| the basis of these reports the bureau OF
markets will prepare and publish weekly
bulletins showing the prices at which
| the various grades of cotton have act
ually been bought and sold. The bulletin
| issued from each of the five district
headquarters will show cotton prices in
| a number of markets in the territory
Immediately surrounding or adjacent to
the district headquarters, and it's distri-
button will be largely confined to persons
! in the district for which it is issued. NO
one bulletin will cover quotations for
| the entire cotton belt, and 1t is intended
! that the bulletins shall be prepared in
| a concise readily understandable form
and given such distribution that they
will be of local value to persons in the
| communities which receive them.
| The information contained in the bull
| letins will be telephoned or wired at their
expense to persons who request such SER
| vice. The complete bulletins will be
mailed to newspapers, postmasters. fed
eral state and county officers in each
district to dealers and others who fur
nish the information on which the bull
letins are based and to banks, cotton
gins. exchanges, oil mills producers and
others who desire to have them. 1t is
| expected that the information contained
| in the bulletins will be given widespread
| circulation and will be available to all
who may be Interested.
| In view of the general lack Of informa-
t;or as to the prices of cotton seed, the
quotation service for cotton will also in
clude the actual prices at which cotton
seed is bought and sold at number OF
markets selected for the purpose in each
| district.