Bremen Cotton Exchange

"I do not think, father, that such luck is likely to repeat itself, but the fact remains, that we have room empty, which easily might carry freight, besides, I hear, that there is an increasing demand for cotton, as several new cotton mills are being started in Germany."

"Yes, that is all very well, but think of the enormous risk of the cotton trade. The fluctuations in prices are fabulous, recently, they have been going down and down. My friend W. has been holding cotton for 3 years and has never seen his price back yet. A loss he will not take, he declares 'that he will hold that cotton till he is black in the face.'"

"That is a wrong policy, W. ought to have sold the cotton long ago, replaced the same by a lower priced purchase, this would have saved him charges and loss of interest, and would have cheapened his original purchase."

"This is a new method of doing business, we--old Bremen people--stick firmly to an enterprise, until the success is secured. That is the old Han