"cotton Futures"; the Business of Buying And Selling Cotton From Future Delivery As Conducted On the New York, New Orleans And Liverpool Cotton Exchanges And Its Advantages to Merchants, Manufacturers, Bankers, And Farmers

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"cotton Futures"; the Business of Buying And Selling Cotton From Future Delivery As Conducted On the New York, New Orleans And Liverpool Cotton Exchanges And Its Advantages to Merchants, Manufacturers, Bankers, And Farmers
Alfred B Shepperson
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Dear Sir: We are in receipt of your valued favor of 7th inst., and carefully note contents. The New York Cotton Exchange is of advantage to us in our business as a matter of protection, in the event of our making any sales for forward delivery. If we were prohibited from using the Exchanges, o^ course it would compel us to use the Liverpool market; or we should be unable to make sales for forward delivery unless we were willing to take the risk that we" might be able to buy the cotton when due
...at the price at which it was sold; or unless we could buy it of some responsible party in the South. In our opinion, it would seriously affect the cotton business (at least temporarily) if cotton merchants were prohibited from making legitimate trans- actions on the Exchanges of this country.
Yours truly, Barry, Thayer & Co.
W. F. HOOPER C. C. BUFFINTON HOOPER & BUFFINTON COTTON BUYERS Fall River, Mass., April 3, 191 1.
Mr. Alfred B, Shepperson, Nezv York, N, Y.
Dear Sir: The opportunity to hedge sales or purchases by buying or selling contracts in the cotton "futures" market is of the greatest possible importance to all parties dealing in actual cotton, and also to the mills.


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