1.2 American Cotton Good middling Memphis.
I 3 Good middling Texas I o Good middling Upland I o Indian Cottons Fine Tinnevelly Fine Bhaunagar Fine Amraoti Fine Broach.
In order to facilitate business, " futures " are all drawn in the same unit (loo bales), and are all based on the same class of cotton, namely Upland cotton of middling grade of " no staple " (i.e.
But what, it may be inquired, is the value of " futures " relating to " middling " cotton to a broker whose contracts with spinners are not in " middling " cotton?
The rule is that on the first of the two months the seller of " futures " may, and before the last day of the second month must, deliver cotton against them, or, what comes to the same thing, buy back the " futures " on the basis of the price of " spot " cotton of middling grade.
The lowest grade tenderable used to be " low middling," but since October 1901 " good ordinary " has also been accepted.
Arbitrators report on deliveries and award allowances on those of grades above " middling " and deductions of price from those below.
Beneath are the official Liverpool quotations of " futures," as they appeared on the morning of the 19th of April 1906: A merican Deliveries, any port, basis of middling, good ordinary clause (the fractions are given in moths of a penny).
As regards " middling " American, the committee fixes " spot " by allowing so many " points on or off " present month futures.
When the spinner has informed the dealer exactly what quality of cotton he needs, the dealer quotes so many " points on or off " the " future " quotations prevailing in Liverpool at the time of the purchase, which refer to Upland cotton of " middling grade," of " no staple " and of the worst growth.
Middling American cotton of " no staple," &c. Whether the purchaser of an option gains or loses depends upon the price that he has paid in relation to the gain, if any, that he makes out of his power.
In Sierra Leone little success has been met with, but on the Gold Coast some cotton better than middling American has been grown, and the association has concluded an agreement with the government for an extension of its work.
The cotton is almost entirely grown by natives in small patches round their villages, and generally it has sold for about the same price as middling American, though some of it realized as much as 25 to 30 " points on."
Above middling American.
He was of middling stature and dark complexion.
The word "mean" (like the French moyen) had also the sense of middling, moderate, and this considerably influenced the uses of "mean" (3).
After two years he took the degree of Ph.D., and in the autumn of 1793 received his theological certificate, stating him to be of good abilities, but of middling industry and knowledge, and especially deficient in philosophy.
Being curious to know what position my great bubbles occupied with regard to the new ice, I broke out a cake containing a middling sized one, and turned it bottom upward.