A STORY OF COTTON 45 



In that event, the purchaser abroad must be able to secure 

 the necessary CASH to pay America for the cotton. 



The purchaser, where such great values are involved, very 

 often has NOT the necessary cash in hand to make such ex- 

 tensive purchases; BUT, 



If he, the purchaser abroad, could, immediately after pur- 

 chase, receive a negotiable warehouse receipt issued by a 

 "CHAIN OF WAREHOUSES" properly conducted, he could 

 frequently enter the cotton market and make extensive pur- 

 chases without a very great original cash outlay. 



THE COMPRESSION OF COTTON. 



What is usually termed a "STANDARD BALE" of cotton, is 

 one which measures: 



27 inches wide, 

 54 inches long; and usually 

 48 inches in height, or THICKNESS, 

 as measured from edge to edge. 



A "STANDARD BALE" is OFTEN called an "UNCOM- 

 PRESSED" bale of cotton, although it is ACTUALLY COM- 

 PRESSED, to a density of approximately I2V2 pounds to the 

 cubic foot. 



At present, a "STANDARD BALE" of cotton, after having 

 been mutilated, sampled, and inspected, many times, is then 

 USUALLY RE-COMPRESSED. 



The RE-COMPRESSION of a bale becomes necessary, for 

 two reasons: 



FIRST:— The STANDARD BALE, having had its bagging 

 thoroughly mutilated, requires to be RE-CLOTHED, and addi- 

 tional bagging placed on the bale to replace the bagging that 

 it has lost, and replace the weight, lost by such mutilation and 

 sampling. 



SECOND:— The STANDARD BALE must be RE-COM- 

 PRESSED to a greater density for the purpose of economizing 

 room. 



Cotton of a "STANDARD BALE TYPE" occupies approxi- 

 mately twice the room justified by its weight. 



If transported as a STANDARD BALE, and if charges for 

 freight are assessed commensurate with the space occupied by 

 it, the increased charge is very great, and the prices paid for 



