Arizona republican., 1919-01-04

which number is limited to 25. The limitation of active membership is simply check that the association may not grow to a point where it is un- Wieldy, experience having taught the organizers that a few good substantial men can get results, while too large q membership leads to confusion and failure The number of associate or honorary members is not limited The fee for the associate or honorary mem- bership is $lO, and dues each year thereafter lot less than $10 per year. No annual dues will be assessed until after the first, of May, 1919, the mem bership fee only being collectible from members at this time An honorary or associate member may represent two or more growers. provided the acreage represented does not exceed 50 acres
 All members of the exchange will re- ceiVe information concerning markets and crop conditions as the exchange may from time to time gather and have available for distribution. The exchange will endeavor to find the best cotton market for it's members and will receive listings of such cotton as it's members shall from time to time desire to sell.
 listings of Cotton Will be Received
 Under Two Forms;
 1. Listings under which the mem bers will authorize the exchange to sell the cotton so listed at not less than a minimum price as specified in the listing.
 ,. Listings under which the member will not authorize the exchange to make a sale. but under which the member shall desire the exchange to secure a purchaser for the cotton listed.
 All listings of cotton under either of the above forms must be accompanied by the gin receipt number and class ification card for each bale, together with full written instructions as to the price desired and the location at which the cotton may be seen and inspected either by representatives of the ex- change or buyers Cotton listed under the first form shall not be withdrawn without first giving the exchange ac- tual notice in writing at least A hours prior to withdrawal. Sales made by the exchange before such withdrawal shall be binding on all parties. Cotton listed under the second form may be 'ttiAeAA eNN II 'AG tlttN lllIlt bN lIlG giving the exchange written notice of such withdrawal. A fec of 50 cents for each bale shall accompany the members application for listing cotton with the exchange, this fee to apply under both forms of listings and to be retained by the exchange for it's serv- ices, whether the cotton be withdrawn or not
 Regulations Governing the sale of Cot
 ton Listed
 l. All deliveries of cotton sold shall be made on the gin yard where cotton is located at time of sale by delivery of bale receipt properly endorsed.
 ?. Payment for cotton purchased shall be made in full upon delivery of cotton.
 5. Cotton shall be paid for at the price agreed upon al the time of sale based on the gross weight of the bale less a deduction or tare of P pounds for bagging and ties.
 1. Any member refusing to make delivery as provided in these regula- tions shall be subject to q fine of not less than s100 or to expulsion from the exchange as the trustees may determ- inc in each case
 D. Any buyer on the exchange who shall refuse to accept and pay for cot ton purchased by him in accordance with these rules shall be fined not less than s100 or expelled from membership as the board of trustees may determine in each case.
 What the Exchange Has Already Done
 Four market letters have been issued to eastern users and brokers of extra long staple cotton. The purpose of the exchange has been set forth and in each letter to the date thereof statist- lcal and general information concern Ing American Egyptian cotton has been supplied. The statistical information IS set forth in two per centum tables one showing percentages of staple and the other of grade. Ginnings and ship ments to date were also included as well as all the general information concerning the industry in Salt River valley as is usual in letters of this kind. That these letters have been well re- ceived is evidenced by the large per centage of replies that have been re- ceived and requests for q continuance Of the service. A large number of eastern newspapers have copied the letter verbatim and have written ask ing for copies of all such information Tor theE columns that is sent out. Pa pers of the standing of the New Bed- ford Standard and the Boston Tran script are the very best mediums which advertising and pub- licity could be had Many of the pa- pers have copied the letters verbatim. Many telegraphic and written inquiries have been received for samples and quotations.
 Through the generosity of the men who formed this organization a, large amount of cotton has been sent 10 various textile schools in the east for and the preparation of statis- tical data. These schools will furnish the exchange with copies of their find lngs. No remuneration was asked for this cotton on the part of these men. The collection of suchi data is an im- portant function of the exchange and | such information will be of immense value as advertising this product.
 The organizers of the exchange have devoted a great deal of time and money io personal correspondence and enter -ainment of persons from the eastern i market who have been here looking | over the local situation.
 All reports sent out by the exchange ire based on government classification and all information is taken only from 1 absolutely the most reliable sources l In the last market letter issued Decem- Der 3l the figures of the Yuma crop were added to the statistical tables and 1 f is planned to have accurate informa- ion and figures from all the American Egyptian cotton producing centers thai he market letters of this exchange l nay keep the place of absolute su- premacy in the eastern markets for aytra long Sfdn1e cotton