COTTON. Ill 



" Three or four of the bales were so matted together, besides showing 

 discoloration and mildew, that they became unreliable, and we returned 

 them to the shipper. 



" The excessive tare is another objection to the cylindrical bale, it being 

 over 80 per cent, in excess of the ordinary American bale. This is due 

 to the heavy iron tube on which the fleece is rolled being much heavier 

 than is needed. 



" I like the wire binding of the bale in place of the iron hoops and 

 loose rivets, which are a dangerous nuisance. Notwithstanding my unsatis- 

 factory experience of the cylindrical bale, I feel convinced that it has a 

 future before it, from a spinner's point of view, in a respect many may 

 never have thought of," etc. 



Another new system of baling that has lately come under notice is 

 known as the " Lowry " bale. It is made up of continuous rolls of repeated 

 layers of cotton, giving the bale a solid cylindrical shape, which is wired 

 up to prevent it expanding, and encased in a black woven matting tied 

 up at both ends. The bales vary in weight from 245 to 260 and 280 

 Ibs., the latter weight at the present time being pretty general. The 

 advantages claimed are that, in addition to a reduction in cost of freight, 

 the bale is made up of more uniform layers, and is therefore more readily 

 adapted for opening and cleaning purposes. A fair number of firms 

 have adopted the Lowry bale ; but it yet remains to be seen whether the 

 new system will supersede the one that has been in use so long, or cause 

 some other more complete system to be brought out. There is roomTor 

 improvement, and spinners will welcome the fullest inquiry in order 

 benefit the trade. 



Buying and Selling. The terms of purchase may be shortly 

 enumerated as follows : 



For Spot Cotton, i.e., cotton which is chosen by the buyer on the 

 cotton brokers' benches, and which the buyer has examined and satisfied 

 himself is suitable for the counts of yarns he desires to spin, an allow- 

 ance is made of 1 J per cent, discount in ten days' settlement after the 

 date of purchase; i.e., if the buyer pays for it in ten days, 1J per cent, 

 is allowed on the price bargained for later than this the full price is 

 payable. 



A great deal of American cotton is purchased on C.I.F. terms, which 

 means that a discount of 6 per cent, is allowed, which also includes the 

 charges, insurance, and freight. In other cases the cotton is bought at 

 a certain price, say 5d. cum quay charges, or 5d. ex quay charges, mean- 

 ing that the charges accruing for storage on the quay have or have not 

 been allowed for. 



Many other terms are used to indicate the time when the cotton may 



