Savannah morning news. [volume] (Savannah) 1868-1887, 1883-03-30
RUIZ 1AvAL STORES EXCHANGE.

THE NAVAL STORES EACHANOE.
Rsoort of the Board of Manageable
markabIe Increase IN Beceipts-The
Financial status of the Exchange
The Proposed Board OF Trade.
The annual meeting of the Savannah
Naval Stores Exchange was held yester-
day afternoon, large NUMBER OF members
being present.
Cant. c. :. Ellis, President, called the
Exchange to order.
The report of the Board of Managers
was then read by the Superintendent, Mr..
r. NJ. Reeves, as follows, and adopted:
RrPoKT OF THE BOARD OF MANAGERS OF
THE NAVAL STORES EXCHANGE.
The Board of Managers congratulate
the Exchange on the successful termina-
ton of its first years history. Organized
under favorable circumstances, with the
generous aid of merchants not directly
connected with the trade. but animated
by that public spirit which is the secret
of the prosperity of our city, the
financial success of the Exchange
was assured for its immediate flu
ture. The wise system of laws and
rules of trade adopted after maturity,
considering the laws which govern SINH
lar bodies in other cities, have been effec-
tual in bringing harmony into the hitherto
indefinite and irregular modes prevailing
i'm the trade; and these, combined with
the intelligent energy and fair dealing of
its membership, have given 10 your or
ganizatiOn an exceptional success for It's
/ first years experience.
During the past year our port, as port
| of receipts, has been borne to the front,
and now ranks frSt in the American mar
kets. The year ending the first Of April
will show our receipts TO be 10000 casks
/ spirits turpentine, and $4,000 barrels
| rOsin. an increase Of about 30 per cent.
/ over last year. This exceeds the receipts
/ at Wilmington, y. c., (hithertO the first
/ port Of receipts J, both in spirits turpen-
I tine and in rOsin-taking into cOnsldera-
/ ton the difference in weight Of the Will
mington barrel of rOsin and the Savannah
| barrel-the former averaging about 325
| pounds. while Uurs weighs over 400
/ pounds. This, as the result of a few years
/ wOrk-Our first recorded statistics being
/ in the year 1S74-is a subject for profound
/ congratulatiOn, and an earnest of the flu
/ ture advantage TO our city and state OF
/ this important branch of trade.
II is also to be remarked that while in
/ the first years of the trade our shipments
/ were confined to cOastwise ports and to
/ the interior railroad towns of the North
/ and West. now the bulk of our receipts go
/ foreign, and we supply direct the British
/ markets. the German and Russian Baltic,
/ France. the Mediterranean, and, to some
/ extent South American and even African
ports. In addition. our domestic trade in
| creases, and especially in the article of
/ fine resins the "Orld looks to us for its
/ supplies.
Nearly every respectable naval stores
/ house on the globe has a connection in
our midst, and,added to the healthy influx
/ of capital consequent upon this, we
| have the assistance of the
| brains and energy necessary
| to bring success to these
| hOuses-an element which contributes
materially to the reputation which our
market is making for leading, instead of
/ following, in the various movements of the
/ day
In regard to the financial condition of
/ the Exchange, we beg to report that
! seventy-siX shares of stock have been is
sued.
! IS shares at S25 per share. and one
/ share at 500, making total of 1875 90
having defaulted) .....-.-...., -. 800 90
| Pro rata dues one member. .....-.-... 10 90
From arbitration and appeals ------- 40 90
/ From old Naval Stores Association 50 so
| Interest on Central Railroad certif-
Gates of indebtedness ---------.-- IS 90
1884 80
| The expenditures are:
For current expenses .----.-.-. -.--.- l,1S1 s.
Exchange Room -. - ~ 1854 50
/ Invested in Central Railroad certif-
Gates of indebtedness 1904 90
1865 "A
| leaving in the Treasury $277 rs, from
which must be deducted $173, the amount
necessary to pay the expenses of the cur
rent month. This statement will show in
the Treasury on the 1st Of April about
800, and Central Railroad certificates of
Indebtedness, par value, $1,000, drawing
8 per cent. interest, as permanent in
vestment.
1t having been thought advisable, the
board have organized a Committee on
Transportation and Yards, to take cOgni-
zance OF the proper handling of naval
stores while in transit and in storage
yards, and we respectfully recommend
that said committee be raised to the dig
nifty of a permanent standing committee.
There having been a general wish eX-
pressed to merge our Exchange into
General Produce Exchange, or a Board
of Trade, to embrace other branches of
Enthusiastically, rice, lumber, grain
and prOvisiOns-a special meeting of the
Exchange was called under the rules and
a committee was appointed to canvass
the city. and informal authority granted
to accept members on basis of $50 per
share for stock until one hundred and
TWENTY-FIVE shares were taken. The board
take pleasure in reporting that the num-
Der has been reached, and probably before
the annual election, between forty and
fifty members Will be admitted to the
privileges of the Exchange. 1t will be
borne in mind that these gentlemen join
the Naval Stores Exchange, as at present
organized, and it remains for you to de-
termine the question of a General EX-
change, as your wisdom may dictate.
As at present advised. the Board recon-
mend that the assessment for the ensuing
year be the same as last year-S25.
The Board take pleasure in commencing
the faithful service of the Superintendent,
Mr.. II. VI. REEVES, whose attention and
spirit of accommodation have largely con-
tributed to the success of the Exchange
and TO the pleasant intercourse Of its
members.
The various cOmmittees-Finance, APP
peals, Arbitration. Statistics, Quotations,
etc, have assiduOusly attended to their
various duties, and their several reports,
on file, are subject to the inspection of the
Exchange.
c. ELLIS, President.
j. II. EsTILL, Vice President.
j. p. WILLIAMS,
W. c. JACKSON,
j. f. MINIS,
c. L. JONES, Z.
W. CONEY, Managers.
On motion of c. Lucien Jones, Esq, it
was ordered that a copy of the report be
presented to the MORNING NEWS with a
request to publish it.
Mr.. w. \. Holt moved that the annual
assessment for the ensuing year be fixed
at $25 per member.
Mr.. A. G.. Latta moved that the thanks
of the Exchange be, and are hereby re-
turned to the President, Vice President,
and Board of Managers for their able
management Of its affairs during the past
year.
The horse is noble animal, and deserves |
the kindest treatment from man, whose
obedient servant he becomes when prop
erly trained. spavins, Calls, RingbOne,
Scratches etc. are the evils which COM