To Investigate the Causes of the Decline of Cotton Prices: Hearings, Seventy-fourth Congress, Second Session, Pursuant to S. Res. 103, 125, 172, and 182 |
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Page 47
... contract ? Mr. CLAYTON . In what respect do you wish my opinion ? Mr. WYLLIE . Suppose I ask you this question first ... contract to deliver cotton . Mr. WYLLIE . The principal features of the New York Cotton Ex- change contract are time ...
... contract ? Mr. CLAYTON . In what respect do you wish my opinion ? Mr. WYLLIE . Suppose I ask you this question first ... contract to deliver cotton . Mr. WYLLIE . The principal features of the New York Cotton Ex- change contract are time ...
Page 48
... contract ; and the attempt , when the cotton exchanges were organized and futures trading was started , was to model the futures contract as near as possible along the lines of spot- cotton trading . The seller of cotton has most of the ...
... contract ; and the attempt , when the cotton exchanges were organized and futures trading was started , was to model the futures contract as near as possible along the lines of spot- cotton trading . The seller of cotton has most of the ...
Page 49
... contract until he receives a notice . He may receive a notice on the first notice day or he may not . He may receive it on the second or he may not even get a notice until the last notice day in the month ; and he has been able , in ...
... contract until he receives a notice . He may receive a notice on the first notice day or he may not . He may receive it on the second or he may not even get a notice until the last notice day in the month ; and he has been able , in ...
Page 53
... contract with a cotton merchant , and does make contracts with the cotton merchants all the time , in which not only any one of these 66 grades may be delivered on the contract at the seller's option , but a great many other grades ...
... contract with a cotton merchant , and does make contracts with the cotton merchants all the time , in which not only any one of these 66 grades may be delivered on the contract at the seller's option , but a great many other grades ...
Page 54
... contract ever apply to spot cotton ? Mr. CLAYTON . Yes . Senator NORRIS . Now , the spinner buys cotton to utilize it in his business , to make cloth of it , and he certainly cannot make the kind of contract you have been describing ...
... contract ever apply to spot cotton ? Mr. CLAYTON . Yes . Senator NORRIS . Now , the spinner buys cotton to utilize it in his business , to make cloth of it , and he certainly cannot make the kind of contract you have been describing ...
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Common terms and phrases
12-cent loan American cotton amount of cotton Anderson average bales of cotton basis bought buyer carrying charges cents a pound certificated cotton certificated stock CHAIRMAN CLAYTON clearing house committee correct cotton business cotton market cotton merchant CREEK CREEKMORE crop December decline deliver delivery month delivery points difference Ellison D fact farmer Federal Farm Board figures firm fixed futures contracts futures exchanges futures market Galveston give Government grades Houston issued notices January July 31 liquidation Liverpool March 11 MCFADDEN Middling seven-eighths mill million bales notice day October operations Orleans percent period producer profit purchases qualities question record season sell seller Senator NORRIS Senator POPE short position sold southern delivery speculative spot cotton spot market spot price statement straddle tender thing thousand bales tion transactions transfer warehouse WEIL York contract York Cotton Exchange York market
Popular passages
Page 696 - By preventing inefficient and wasteful methods of distribution. 3. By encouraging the organization of producers into effective associations or corporations under their own control for greater unity of effort in marketing and by promoting the establishment and financing of a farm marketing system of producer-owned and producer-controlled cooperative associations and other agencies.
Page 3 - Congress, to employ such clerical and other assistants, to require by subpena or otherwise the attendance of such witnesses and the production of such books, papers, and documents, to administer such oaths, to take such testimony, and to make such expenditures, as it deems advisable. The cost of stenographic services to report such hearings shall not be in excess of 25 cents per hundred words. The expenses of the committee, which shall not exceed $5,000, shall be paid from the contingent fund of...
Page 2 - For the purposes of this resolution the committee, or any duly authorized subcommittee thereof, is authorized to hold such hearings, to sit and act at such times and places during the sessions, recesses, and adjourned periods of the...
Page 871 - Someone once said that there are three kinds of lies: "lies, damned lies, and statistics.
Page 524 - Of let him take who has the power, And let him keep who can, the Boers now proceeded to possess themselves of as much territory as they wanted.
Page 248 - futures " are divided into three classes: first, those who use them to hedge, ie, to insure themselves against loss by unfavorable changes in price at the time of actual delivery of what they have to sell or buy in their business; second, legitimate capitalists who, exercising their judgment as to the conditions, purchase or sell for future delivery with a view to profit based on the law of supply and demand; and, third, gamblers or irresponsible speculators who buy or sell as upon the turn of a...
Page 2 - The joint committee shall select a chairman and a vice chairman from among its members. (d) The joint committee, or any duly authorized subcommittee thereof, is authorized to hold such hearings, to sit and act at such places and times, to require, by subpena or otherwise, the attendance of such witnesses and the production of such books, papers, and documents, to administer such oaths, to take such testimony, to procure such printing and binding, and to make such expenditures as it deems advisable.
Page 3 - That when any duty is imposed upon a committee of the Senate involving expenses which are ordered to be paid out of the contingent fund of the Senate, upon vouchers to be approved by the chairman of the committee...
Page 844 - ... 2 o•clock pm) AFTER RECESS. (The committee reassembled at 2 o•clock pm, pursuant to the taking of recess.) The CHAIRMAN.
Page 248 - Hedging, for instance, as it is called, is a means by which collectors and exporters of grain or other products, and manufacturers who make contracts in advance for the sale of their goods, secure themselves against the fluctuations of the market by counter contracts for the purchase or sale, as the case may be, of an equal quantity of the product or of the material of manufacture.