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The Memphis Cotton Exchange has been an important institution to the cotton industry since 1873. By establishing uniform rules facilitating the trading of cotton and by providing arbitration services to members as well as non-members of the echange, it has created an orderly trading environment. Through its activities and meetings, it provides a method of establishing friendships and informal communication between persons in the cotton industry. Since membership is elective, becoming a member indicates recognition by peers.
The purposes of this Association shall be to provide and maintain suitable rooms for a Cotton Exchange in the City of Memphis; to adjust controversies between members; to establish just and equitable principles, uniform usages, rules and regulations, and standards for classifications, which shall govern all transactions connected with the cotton trade; to acquire, preserve and disseminate information connected therewith; to decrease the risks incident thereto; and generally, to promote the interests of the trade and increase the facilities and the amount of the cotton business in the City of Memphis.
Adopted April 27, 1874 through October 16, 2006
The mission of the Memphis Cotton Exchange is to formulate and promulgate trading rules for cotton, to provide a venue for arbitration under its rules, and to preserve the heritage of the cotton trade in the City of Memphis.
Amended October 17, 2006
The Commercial Appeal
Originally published March 5, 1872
Reprinted in 1972: 100 Years Ago
A MEETING of merchants and cotton buyers was held last night in the hall of the Chamber of Commerce for the purpose of establishing a Cotton Exchange in Memphis. Business was commenced by electing George Winchester chairman, C. T. Curtis secretary, and A. A. Paton, C. F. Smith, R. A. Pinson , J. T. Stratton, W. B. Galbreath and H. M. Neely as a by-laws committee. Memphis, in the opinion of The Appeal, does not need a Cotton Exchange. We have a Merchants’ Exchange and a Chamber of Commerce which can and do serve all our mercantile interests. Memphis is too small a place for a division of her commerce. A Cotton Exchange might bring to Memphis the gambling system of buying cotton, which flourishes in New York. This means “futures” would be bought and sold and invariably the planters would be cheated.
The original article was donated to the Memphis Cotton Exchange Archives by Matthew T. Richards on January 8, 1975
Designed by Zack A. Tucker
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