232 COTTON 
FAIR 
Barely Fair 
Strict Middling Fair 
Fully Middling Fair 
MIDDLING FAIR 
Barely Middling Fair 
Strict Good Middling 
Fully Good Middling 
GOOD MIDDLING 
Barely Good Middling 
Strict Middling 
Fully Middling 
MIDDLING 
Barely Middling 
Strict Low Middling 
Fully Low Middling 
LOW MIDDLING 
Barely Low Middling 
Strict Good Ordinary 
Fully Good Ordinary 
GOOD ORDINARY 
Barely Good Ordinary 
Strict Ordinary 
ORDINARY 
Low Ordinary 
Inferior. 
It will be seen that grades are known as full 
grades, half grades, and quarter grades, although 
the quarter grades are used very seldom in classify- 
ing the fiber. In the classification as given here 
the grades in capital letters are the full grades, the 
half grades being indicated by the prefix "strict," 
and quarter grades by the prefixes "barely" and 
"fully." 
"Middling" grade is the one universally used 
in all cotton deals. When a price is made, it is 
given on the basis of middling grade. All cotton 
contracts or "futures" call for middling, and it 
becomes the standard in exchange. This does not 
signify, however, that contracts may not be filled 
with other grades, but in case a superior or inferior 
grade is furnished, the prices become proportion- 
ately higher or lower, as the case may be. 
The buyer's judgment must be good, else his 
classification may be incorrect, and consequently 
may lead to loss. 
