MARKETS AND RURAL ORGANIZATION. 



411 



PREPARATION AND SALE. 



The official cotton standards for grade for white American cotton 

 were established and promulgated on December 15, 1914, under the 

 authority of the United States cotton futures act, and the work in- 

 volved in the preparation and distribution of practical forms of these 

 standards has been in progress since that date, 248 full sets having 

 been shipped during the past year, making 633, the total number of 

 full sets shipped to the various branches of the trade up to the 1st of 

 July. Nineteen of these full sets were sent to foreign countries. 

 Seventy-eight fractional sets have also been supplied to cotton mills 

 and those who deal in only a limited number of the grades. On July 

 1, 1916, 100 sets were ready for use in filling orders for the coming 

 season. 



The purchases of cotton for standardization work are distributed 

 geographically throughout the cotton belt. It is necessary to pur- 

 chase large quantities of cotton for this work, owing to the impossi- 

 bility of ascertaining the extent to which the contents of a bale of 

 cotton can be used for standardization purposes before it actually 

 is opened and put into use, especially in the preparation of the stand- 

 ards for color. The proceeds from the sale of cotton which was not 

 usable were turned into the Treasury as miscellaneous receipts. 

 During the fiscal year ended June 30, 1916, $23,087.69 was covered 

 into the Treasury as a result of sales of rejected cotton. 



ADOPTION OF THE OFFICIAL COTTON STANDARDS. 



During the past fiscal year a number of additional domestic mar- 

 kets have adopted the official cotton standards as the basis of their 

 transactions. The following list contains the future and spot mar- 

 kets which have adopted the standards up to July 1, 1916 : 



New York Cotton Exchange. 



New Orleans Cotton Exchange. 



Montgomery Cotton Exchange. 



Augusta Cotton Exchange. 



Selma Cotton Exchange. 



Little Rock Cotton Exchange. 



Mobile Cotton Exchange. 



Savannah Cotton Exchange. 



New England Cotton Buyers' Associa- 

 tion, Boston. 



Pall River Cotton Buyers' Associa- 

 tion. 



St. Louis Cotton Exchange. 



Vicksburg Cotton Exchange. 



Oklahoma State Cotton Exchange. 



Charleston Cotton Exchange. 



Memphis Cotton Exchange. 



Galveston Cotton Exchange. 



Texas Cotton Buyers' Association. 



72412°— age 1916 27 



Waco Cotton Exchange. 



Houston Cotton Exchange. 



Dallas Cotton Exchange. 



Paris Cotton Exchange. 



San Antonio Cotton Exchange. 



Norfolk and Portsmouth Cotton Ex- 

 change. 



Cotton Manufacturers' Association ©f 

 North Carolina. 



Cotton Manufacturers' Association of 

 South Carolina. 



Fort Worth Grain and Cotton Ex- 

 change. 



Clarksdale (Miss.) Cotton Exchange. 



Yazoo City Cotton Exchange. 



Greenwood Cotton Exchange. 



Greenville Cotton Exchange. 



Atlanta Commercial Exchange. 



