Future transactions, of course, entail certain expenses, which
constitute something of a burden on the running business, while economy
is a necessity for every mercantile enterprise. Out of this, originated
the desire to establish a "future" market in Bremen. People felt sure
that it would greatly assist the development of the market, to be able
to trade in "futures" within their own portals. A certain amount of
ambition may also have lent its weight. The establishment took place,
though, not under the auspices of the Bremen Cotton Exchange, but in
the form of an independent society. Early in 1914, the market commenced
its activities, and it was soon found, that all expectations were
realised, and even surpassed. The clearing house, which was started
simultaneously, fulfilled all requirements. The business with the
spinners had now a foundation, which answered all demands of modern
times. Covering transactions, which previously were cabled to New-York
and Liverpool, could be executed here every minute within business
hours. Where orders from spinners were concerned, the whole transaction
could be done by telephone. The "future" market blossomed out in such a
way, that no fears were entertained for its successful future.
The coping stone had been set on the edifice of the Bremen Cotton
Market.
* * * * *
With the growth of the industry in Germany, the Bremen cotton trade
expanded, and the business with the surrounding countries grew in
proportion. Russia, Poland, Austria-Hungary, Switzerland, Italy,
Holland and Belgium, all became faithful customers, and the Bremen
Cotton Exchange hummed with activity. Here, was the centre of all the
efforts to provide the consumer with the desired material at the lowest
prices. Every evening, at a late hour, when the last news from America
had arrived, a flood of telegrams carried advantageous offers down to
the smallest and most distant places on the Continent. Not only the
cotton spinner, but also the weaver, the printer and the wholesale
dealer took an interest in the Bremen offers, like clockwork operated
the business intercourse between the cotton factor and the cotton
consumer.