STANDARD GRADES FOR AMERICAN COTTON LINTERS 7 



INDUSTRIAL TRADING RULES 



At the annual convention of the Interstate Cotton Seed Crushers' 

 Association held in Memphis. Tenn.. May 2.">. 20, and 27, 11>27, the 

 jinters standardization connnittee broujriit in its report, which in- 

 cluded a complete set of trading rules recognizing and based upon the 

 use of the standard grades. These trading rules are the first of their 

 kind covering transactions in linters, which warrants their incorpora- 

 tion in this report. The rules as adopted by the convention - are 

 as follows: 



American cotton linters. — Contracts for the purchase and sale of American 

 cotton linters, unless otherwise si)e(ilie(l, shall be subji-et to the followiuK terms: 



(1) In all contracts for specific grades of cotton linters the grades of the 

 official standards of the United Stati-s for American cotton linters shall l>e used 

 or implied, unless ]»urchases are made on actual samples or types. 



(2) Sales calling for even running grades ma.v contain hales of gr;ides other 

 than that specified, as follows: 



(«) Sales of U. S. grade No. 1 may conta'n not to exceed 5 per cent of bales 

 fully e(iual to U. S. grade No. 2. 



(&) Sales of U. S. grade Xo. 2 may contain not to exceed 10 per cent of bales 

 fully etiual to U. S. grade No. 'A, if offset by 10 per cent of bales better than 

 U. S. grade No. 2. but not necessai'ily fully eiiual to U. S. grade No. 1. 



(c) Sales of U. S. grade No. 3 may contain not to exceed 10 per cent of bales 

 fully equal to U. S. grade No. 4. if offset by 10 per cent of hales better than 

 r. S. grade No. .3. 



(d) Sales of V. S. grade No. 4 may contain not to exceed 10 per cent of 

 hales fully equal to U. S. grade No. ;">. if offset by 10 per cent of bales l)e:ter 

 than V. S. grade No. 4. 



(c) Sales of T'. S. grade No. H may contain not to exceed fi i>er cent of bales 

 fully equal to U. S. grade No. 6, if offset by per cent of bales better than 

 IT. A. grade No. 5. 



(f) Sales of II. S. grade No. may contain not to exceed 5 per cent of bales 

 equal to U. S. grade No. 7. if off.<:et hv 5 per cent of bales e(pial to V. S. grade 

 No. 5. 



(g) Sales of U. S. grade No. 7 may contain not to exceed 10 per cent of liales 

 equal to IT. S. grade No. 6. 



(3) Sales of linters of combination grades may contain even running bales 

 or bales containing a combination of two or more grades. In sndi sales, the 

 seller shall estimate and state the it(M-centage of each grade in the lot : and 

 delivery shall be good, provided not less than ;>0 jier cent of the estimate for 

 each grade be tendered. 



(4) Unless otherwise specified linters shall be of natural c-olors only. 



("») Sectional character shall be .specified, otherwise grading shall be done 

 without reference to this character. 



Excess of low grades. — Any excess of low grade may be rejected by the ptir- 

 chaser, or claimed for at an allowance. If rejecte<l and re.1ection sustained, the 

 seller is to have the right to replace, and the purchaser may ri'(iuire replace- 

 ment. The cost and actual exitense of handling rejections shall be paid by 

 the loser. 



Sales on actual samples. — Whenever a specific lot of cotton linters pinvhased 

 on actual samples does not eqiml the samph's. the purchaser sli'll have the 

 right to reject the lot if less than one-half is e(|ual to the samples. If one-lialf 

 or more is equal to the samples, (he purchaser nuiy reject the i¥)rtii'n not 

 equal to the samples: but in either event, samples of (he entire lot mu^t be 

 exhibited to the seller. Tiie cost and actual exi)ense of handling rej«'c(l«ins 

 shall be paid by the seller, and in ca.se of rejection the seller shall not be called 

 uiK>n to replace. 



Time limits for replacements. — Whenever, under these rule>^ following iigreed 

 or sustained rejecti'Hi, replacement is made, seller shall liave the fi^llowlnc lime 

 limit to effect such replacement. It Is iuiderst<»od (hat tlds compulation is (o 

 begin with the actu il date of notice or demand by bu.ver or seller (as the onse 



' Tho Intorstnto Cotton Scod rnislicrB* Assoclntlon ljiclii(l<'.'» In Its iiicmlKTstilp < of tnn-^c'<<1 

 crushers, cottonsecd-oll rcHncrs, producers of lliitors, dpalers in linters, nnd consumerB of 

 linters. 



