SERVICES IN COTTON MARKETING 
35 
best protection available against malpractices by shrewd buyers or 
sellers who may happen to have more information about prices in 
different markets than the persons with whom they trade. 
The most significant figures on prices are those for (1) futures, 
(2) spots in the 10 designated markets, (3) spots at interior points, 
(4) spots at spinners' markets, (5) premiums and discounts being 
paid for grades above and below Middling, (6) premiums for a 
staple length, and (7) the basis or parity between spots and futures. 
Table 8. 
-Sources of cotton prices, the data, and the publications in which 
they appear 
Sources 
Data 
Publication 
United States Government: 
Department of Agriculture. 
Department of Commerce-. 
Department of Labor. 
Private: 
Futures exchanges 
New Bedford Standard. 
Manchester Guardian., 
Average prices in 10 designated mar- 
kets, premiums for grade and staple 
and the "basis." 
Prices of textiles and textile indexes.-. 
Index numbers of wholesale prices 
All changes in futures prices 
Prices of cotton, yarn, and cloth 
do 
Crops and Markets (weekly) . 
Survey of Current Business 
(monthly). 
Labor Review (monthly) . 
Market Reports (daily and 
annually). 
New Bedford Standard (daily, 
especially Sunday) . 
Manchester Guardian (daily). 
FUNCTIONS AND RELATIONSHIPS OF THE MARKETS 
Each of the different types of markets except the local has a body 
of rules which governs transactions in it. In formation regarding 
any given market may usually be obtained by application to the 
superintendent of that market if in the United States or to the 
secretary if in Europe. All important exchanges publish con- 
stitutions and by-laws and rules. There are also useful books and 
Government publications on the subject. 
BUYERS AND SELLERS 
The publication of personnel information regarding mill buyers, 
dealers, cotton merchants, futures brokers, insurance brokers, cotton 
controllers, and exporters, their location, type of business, and ad- 
dress, is being rather thoroughly covered by directories applying 
to particular branches of the trade, or by ge'neral compilations cover- 
ing the trade in all its phases. There are several trade guides, both 
in America and Europe, which give this information in detail. 
COTTON HANDLING 
The facilities, methods, and costs in the different markets change 
from time to time. If one is to have access to the best and most 
economical methods of handling cotton he must seek information 
from many sources. Information regarding ginning may be secured 
from the Department of Agriculture, the manufacturers of gin ma- 
chinery, and local ginneries. Facilities for moving and compressing 
cotton and the charges therefor must usually be obtained from the 
railroads and compress companies. Information regarding ocean 
transportation may be obtained from freight brokers, forwarding 
agents, shipping lines, railroads which issue through bills of lading, 
