It is obvious that in this classification the human element plays a great part. The difference between quarter grades, or even half grades, or between a tinge and a stain, are subject to a great variety of interpretations. While there is no definite standard, Middling must be cream or white, must show no soil evidence, no gin-cuts or naps, may have a few pieces of leaf (not powdered), and a few motes, (immature seeds). As the grades go up the cotton must be freer of impurities until the top grades have to show practically a perfect lustrous, silky, white, and clear fibre. On the lower side the impurities increase, until, in the Ordinaries, we find large and small leaf particles, sticks, hulls, dirt, sand naps, gin-cuts, and spots, together with a dingy color.
Some Cottons not Sold on Middling Basis
It is this classification that governs the trading on all the exchanges, and upon which the planter originally sells his crop. The exceptions are those varieties of cotton which are distinct from the crop as a whole. Sea Islands are sold as Fancy, Choice, Fine, Medium, and Common. Bolly or immature cotton is sold by separate agreements; and Linters, the fibres regained by the seed mills from reginning the seed, are not sold on this basis. Neither is what is known as the “City Crop” of loose cotton accumulated from taking samples, sold in this way.
Staple Length
Aside from grade there are two other qualifications which are of equal importance to the manufacturer: length, and strength. Lengths are quoted in eights of an inch, and cotton under 1⅛” is termed short, while that over 1⅛” is long. The normal lengths run from ¾” to 1⅞”, and it is noteworthy that, where a normal difference between grades would be 25 points, the difference of ⅛” would be about 250 points. “Pulling” for staple is another art where the individual’s judgment plays an important part.
Elasticity
Strength,—elasticity and tensile strength,—is again one of the mill’s prerequisites. The usual buyer’s test for fibre vitality is to compress a sample in the hand to see if it will return to its former shape. The importance of length is that it governs the fineness of the yarn to be spun, while grades affect the finish of the cloth. We shall see later that mills cannot buy mixed lots, but must have even-running grades of fixed staple.
5. Buyers of Raw Cotton
Storekeepers as Local Buyers
The small planters of the South are usually unable to finance themselves independently through the growing and picking seasons. Consequently the local store-keeper, from whom the planters buy their supplies, usually extends credit in the form of an open account and so becomes the first middleman. Not infrequently the store-keeper will accept cotton rather than money in settlement of his accounts, and where he follows this practice he becomes what is known as a local buyer. When he has accumulated sufficient cotton he sells either to an intermediate buyer, or to the buyer for some merchant or mill.