The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-02-17
Worlds Largest Center for Its
Primary Sale and Reputa-
tlon for Quality Is UnSur-
passed.
HANDLES ABOUT MILLION
BALES DURING SEASON
transportation and NearneSS
to Producing Area Import
ant In Maintaining Volume
OF Business Done.

NFg VI Nv WYNN bElN has
perhaps contributed more than n
otner one thing TO the fact that Mem
PMS Is recognised the world over, where
cotton 10 known and appreciated, as the
iarsest ana best primary market for it.
ago. and the passing years, with many
changes In marketing methods and
conditions, do not lessen In the least
ner prominence in this respect. 1t Is a
uauty as well as a quantity market, for
Soltoh shipped under q bill of ladihg
bearing a Memphis stamp commands
Just a shade better price In most of
lhe world markets, a tribute to its
reputation, This Is quite a factor in
me volume OF business done here, as it
contributes to the disposition of con-
Germs to have their headquarters here
ritory.
The city handles approximately a
million bales a year, OF which fully
Sbw Nv I'M are shipped here to be SOLD
transportation facilities, including rail-
road lines as well as the river, with i'm
proVeinent each year In the road sys-
TENS, making possible the use of auto
moplie trucks, are largely responsible
the Increased production. OF the total
crop the city handles about Z per cent,
IN spite Of the fact that during the won
aerful development of the interior mar
kets along with increased financial In
dependence and the changing Of meth
DDS there has been disposition to send
buyers nearer the place of production
and ginning. The enlargement of pro-
duction through the clearing Of timber
sections n opening up Of areas hat
tormerly were not cultivated, has en-
abled the city to hold its own.
Because Of higher prices for the crop
and the necessity Of increased credit
resources In financing " the fact
that banking facilities here are so large
me city a also been able to cope
with increased competition. There has
been every reasonable aid given by the
banks and their associates and Gus
toners IN providing for the require
nents OF the growers. The credit sys-
tom OF raising cotton has been altered
materially by the increased wealth OF
the. section, btu a considerable volume
OF It stu prevails and will perhaps do
%. indefinitely. The spread of diver
6~tfication and the effort to have more
necessities grown at home, thereby les
eening the requirement Of buying food
and f~eedstuffs from other parts OF the
country, have contributed, but tho need
Of the factor seems Just as great as
Selling End Is Complex.
The business Of, selling cotton is a
complex one, due IN a measure to the
variety OF grades and classes grown.
AS the worlds needs Of cotton have
expanded has come an increase In the
KINDS grown, only those who are
well versed In the business are compe-
tent to market them to the best advan-
tagc, Only the expert can tell whether
the price should be so cents a pound
or two or three times that much. In
getting the best prices possible for the
variety of grade and in keeping up to
the minute in information regarding
trade conditions, the factor has a legiti-
mate place In the selling end. Through
the use of his capital resources in help
ing to finance the growing of the crop,
ne also is necessary.
The character Of this center az a.
market and its reputation with the
consumers has resulted In practically
all the large buying concerns being
represented here, thereby making COM
petition keen at all times and adding
to the excellence of the outlet for the
crop at the best possible prices. One
essential to any first-class market is
a plentiful supply of buyers. There Is
perhaps no market in the entire belt
where more foreign buyers have their
Headquarters, while practically all the
domestic consumers of the staple at
some time during the season buy
through this market.
The Transportation facilities are i'm
portant not only in bringing the raw
material from the interior, but figure
d ubly III BcllIlB IL 10 The COn-
Sumer. Competition here figures to a
large degree, regulating rates to the
mill centers and to the seaboard,
whence it Is loaded on ships for the
foreign countries. There are abundant
railroad facilities to void congestion
and delays, which are ofttimes impor-
tant influences on prices obtained,
while the routes to the ports are so
many and direct that time is saved
there. 1t is estimated that more than
halt the business done here is for ex-
port.
To protect the cotton after 1t reaches
this market n to keep carrying
charges down to a minimum, as well as
to enable it to be handled with as lit
tie delay as possible, there are abund-
ant warehouses of the most modern
type. Here the cotton Is stored and
kept until sold and ready to go to the
manufacturer, with every advantage
and convenience for facilitating selling
n buying. But even with the large
system already here, there is insistent
demand for enlargement, one cause be-
ing that the South is changing its
methods of marketing by scattering it
over a period of II months instead of
trying. to dot it in half that many. Steps
have been taken to meet the demand
n 1t Is expected before many months
there will be more competition in this
department of the trade and more ca
pacity for storage and handling the
crop. One reason for the insufficiency
Is that many people in the territory are
storing their crops here awaiting more
advantageous times for selling, and an
other is that experience Is teaching all
the time that one of the creates wastes
OF the South has been it's disposition to
let its chief crop suffer material dam
age by not being kept out of the
weather. The fact that its value has
increased so much in the past few
years has been important in bringing
recognition Of his needless waste.
The organization through which the
cotton trade, both buyers and factors,
operates for it's mutual protection and
advantage Is the Memphis Cotton ex-
strength of the city it has had high
clal bodies in the city. 1t has about
175 members and has rules and regula-
tons for maintaining a lofty standard
of business, while it's information serv-
ice Is the best. 1t has lent hearty CO.
operation at all times to every effort to
promote the welfare of it's members, as
we'll as that of the producer, for it is
recognized that the latter is an essen
tial to the success of the others. Its
policy has been to encourage every
movement looking to the betterment
Of the market, to improving the quail
ty of production and to charging the
outlet therefor. AS a part Of the civic
change, one of the strongest CONNER
rank. Although primarily organized
and operated for the cotton business, |
II has lent it's efforts in many other di-
rections, including encouragement to
diversificatiOn in farming methods and ,