Report of the Commissioner of Corporations on Cotton Exchanges ...U.S. Government Printing Office, 1908 - Cotton trade |
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Page 29
... abnormal discounts in the contract price relative to the price of spot middling cotton as have frequently occurred in the New York market , and from time to time in New Orleans . The low - middling clause should , therefore , give ...
... abnormal discounts in the contract price relative to the price of spot middling cotton as have frequently occurred in the New York market , and from time to time in New Orleans . The low - middling clause should , therefore , give ...
Page 190
... abnormal years , such , for instance , as the crop year 1906–7 , when the prospect of a very large supply of grades of middling and above was suddenly changed by a September storm , and when a large part of the crop ultimately turned ...
... abnormal years , such , for instance , as the crop year 1906–7 , when the prospect of a very large supply of grades of middling and above was suddenly changed by a September storm , and when a large part of the crop ultimately turned ...
Page 191
... abnormal proportion of any grade or group of grades . He argued that if , say , 60 per cent of the crop in a normal year graded middling and above , the contract should require that at least 60 per cent of the cotton tendered on any ...
... abnormal proportion of any grade or group of grades . He argued that if , say , 60 per cent of the crop in a normal year graded middling and above , the contract should require that at least 60 per cent of the cotton tendered on any ...
Page 199
... abnormal years like the crop year 1906-7 , the percentage of white cotton running below strict good ordinary is small , say not more than 5 to 10 per cent of the crop ; and it is contended by some that no good ordinary cotton is ...
... abnormal years like the crop year 1906-7 , the percentage of white cotton running below strict good ordinary is small , say not more than 5 to 10 per cent of the crop ; and it is contended by some that no good ordinary cotton is ...
Page 225
... Abnormal discounts of future price largely counterbalanced by changes in merchants ' " limits " . Readjustment of ... abnormal discounts . Psychological influence of abnormal discounts ..... 6778 0 9 Tendency of abnormal discounts to ...
... Abnormal discounts of future price largely counterbalanced by changes in merchants ' " limits " . Readjustment of ... abnormal discounts . Psychological influence of abnormal discounts ..... 6778 0 9 Tendency of abnormal discounts to ...
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Common terms and phrases
abnormal discounts arbitrators average bales of cotton Basis month buyer buying limits Cents certificated stock change in limits chart classification committee contract delivery contract price COTTON FIRM cotton merchants cotton on contract cotton trade crop December December 14 deliver depress discounts of future dling February February 11 fluctuations future contracts future market grades of cotton hedging indicated interior prices January January 14 January 28 Liverpool low grades low middling stained low middling tinged low-middling clause March margin middling cotton middling fair November November 19 November 21 October October 16 October 23 Orleans Cotton Exchange Orleans market price of cotton price of middling producers range of grades receive risk season sell seller September September 25 short selling speculative spinners spot cotton spot market staple strict good ordinary Strict low middling Strict middling tender tion warehouse York contract York Cotton Exchange York future price York market York spot price
Popular passages
Page 320 - Educational and Co.-operative Union of America." 2. The purpose for which it is formed is to organize and charter subordinate Unions at various places in Texas and the United States, to assist them in marketing and obtaining better prices for their products, for fraternal purposes, and to co-operate with them in the protection of their interest ; to initiate members, and collect a fee therefor.
Page 41 - Resolved, That the Secretary of Commerce and Labor, through the Bureau of Corporations, be, and is hereby, requested to investigate the causes of the fluctuations in the price of cotton and the difference in the market price of the various classes of cotton, and said investigation shall be conducted with the particular object of ascertaining whether or not said fluctuations in the prices have resulted in whole or in part from the character of contracts and deliveries thereon made on the cotton exchanges...
Page 196 - Middling, with additions or deductions for other grades, according to the rates of the New York Cotton Exchange, existing on the afternoon of the day previous to the date of the Transferable Notice of del1very.
Page 82 - I am requested to urge upon you that the matter be brought to the attention of the proper authorities...
Page 320 - To enable farmers to meet these conditions and protect their interests, we have organized the Farmers' Educational and Cooperative Union of America, and declare the following purposes: — To establish justice.
Page 320 - To secure equity, establish justice and apply the Golden Rule. To discourage the credit and mortgage system. To assist our members in buying and selling. To educate the agricultural classes in scientific farming. To teach farmers the classification of crops, domestic economy and the process of marketing.
Page 275 - It is he who keeps prices down by his short sales, and then keeps them strong by his covering purchases. This is especially true in the case of inflation followed by panic. If it were not for strong short selling when the market becomes inflated, prices might rise to almost any extent before the final crash. Now the rise tends to be checked by the efforts of shrewd operators to take advantage of the inflation. On the other hand, when prices begin to tumble, they are kept from going as low as they...
Page 320 - To secure and maintain profitable and uniform prices for grain, cotton, live stock and other products of the farm. To strive for harmony and good will among all mankind and brotherly love among ourselves. To garner the tears of the distressed, the blood of martyrs, the laugh of innocent childhood, the sweat of honest labor and the virtue of a happy home as the brightest jewels known.
Page 303 - ... made individually, or by groups of members, -or through a clearing system, the agency of which is a designated bank near the Exchange. No record is kept of the transactions, but it is probable that for a series of years the sales have averaged fully 50,000,000 bales annually. Inordinate Speculation There have been in the past, instances of excessive and unreasonable speculation upon the Cotton Exchange, notably the Sully speculation of 1904. We believe that there is also a great deal of speculation...
Page 303 - SPECULATION. There have been in the past instances of excessive and unreasonable speculation upon the cotton exchange, notably the Sully speculation of 1904. We believe that there is also a great deal of speculation of the gambling type mentioned in the introduction to this report. In our opinion the cotton exchange should take measures to restrain and, so far as possible, prevent these practices, by disciplining members who engage in them. The officers of the exchange must in many cases be aware...