230 COTTON 



rental and investment charges, and so make a 

 warehouseman's profit for yourself. 



IN THE MARKET PLACE 



Cotton is often sold at the warehouse or elsewhere 

 through an agent, whose charge is on the average 

 of one dollar per bale. As a rule, the farmer makes 

 his own sale, one or more buyers bidding for his 

 product. 



With the coming of cotton factories throughout 

 the cotton-producing States, a market is provided 

 at first-hand, enabling the producer to sell direct 

 to the mills. Wherever this opportunity exists, it 

 gives satisfactory results to both parties. The 

 farmer profits, since the factory saves agents' 

 charges for buying, drayage and freight, and this 

 ends wholly to the advantage of the farmer or to 

 the mutual advantage of both. 



But since the greater part of the cotton crop goes 

 North or abroad, some intermediary factors must 

 exist in order to handle this enormous business. 

 Usually this is done by exporting companies, which 

 are financed by heavy capital, and whose sole busi- 

 ness is to move the cotton from producer to 

 consumer. 



MARKET GRADES OF COTTON 



Cotton as sold on the market is first classified 

 into several different grades, and like all the prod- 

 ucts of commerce, its value is measured by intrin- 

 sic worth, merit and quality. Nor does it follow 

 that because cotton has a market classification 

 which includes all cotton grown, that the seller re- 

 ceives its true market value. While there is such 



