Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1883-04-06
THE ELEVATOR.
A Little World in Itself-What Ii is
Doing TO Bald up the Grain
Trade of Memphis
And Enlarge the Bounds and Facilities
for Doing Business in Every
Other Branch of Trade.

Other Branch Of Trade.
The grain and package elevator is the
object that first attracts the eye OF the trav-
sler by river, standing as it does like .
monument 10 Memphis enterprise and the
silent but eloquent witness OF a new era in
he commercial history Of the city. Much
was said about II in the columns OF the
APPEAL before il began business, but nothing
since that time, except in a cursory way.
With the view of learning the progress OF the
institution u APPEAL reporter yesterday way
laid Mr.. Robert Galloway, IFS superlntend-
ent, snd called on him TO stand and deliver
up all be knew. Like 3 wise man Mr.. Gallo
way succumbed to the Inevitable, and ex-
pressed a willingness TO comply with the
demand, and the result was the following
interview:
ABOUT THAT ASSESSMENT.
Chow do you feel about the recent assess
msnt of the elevator" the reporter asked as
a starter.
"Pretty we'll, thank you" was the reply,
and Mr.. Galloway locked quizzical. I'VE
did not object 10 the assessment on the
ground that our stock was not worth the
amount it was put at-S75, 0O0-but because
We have been at a very heavy expense for
building and improvements, and do not ex-
pect to declare any dividend until we sue
ceeded in putting the grain trade on good
footing. Other corpor atoms which have de-
clared large profits are assessed on the same
valuation ss ours-6fty per cent. Our OBJ
ject is to force the grain TO Memphis by put
lipg rates below those of St. Louis and other
points ana for this reason we m axe no charge
Tor unlo siding out of barges and cars, reload
ing and weighing. OF course this lessons
our income"
How many men do you employ, and how
much do you pay out in wages, etc ?"
"From twenty TO eighty laborers, accord
ing to business, besides clerks and other EN-
pioyes. We pay laborers twenty cents an
hour. Our total outlay for wages and in
cidental expenses is about $4,000 a month"
THE STEAMBOAT BUSINESS.
"What number Of boats do business with
your
Seventeen or eighteen of the Anchor Line,
two or three a week of the Memphis and
Ohio River Packet Company, Decides tran
sient boats. The advantages we offer TO
boats are readily appreciated by river men.
At our place they require no skids or tar
paulins, and incur no danger OF damage TO
their freight. Packages are removed from
the boats deck directly to the package con-
veyor, which carries them up into the ele-
vator. By this convenience boat can be
unloaded in just half the time required al
the levee."
THE HANDLING OF FREIGHT.
"Whst is the average quantity of freight
handled by you each month~
From 10000 to 600 tons, and it will be
largely increased in the near future. We
began business with our facilities incom-
plele in November last, and had TO work
under disadvantages. Everything is now
ready, and heresfter we can do all the bust
ness offered. People in the city can now send
their freight down to us any day in the
week for shipment to any point on the Mis-
sissippi and Ohio rivers. All freight is in.
cured by US, which relieves shippers from
trouble in that respect"
THE GRAIN TRADE.
"Hss your grain trade grown to anything
like large proportionsY
Not yet. We handle from FIVE to twenty
carloads a month, which is taken by local
dealers. The point we are now considering
is route 10 the Atlantic seaboard, and a
port for the export oil grain in bulk. Two
routes are offered us-by the Chesapeake
aud Ohio road to Newport News, and BY the
East Tennessee and Virginia to Brunswick,
Ga, or Savannah. The latter is the short
EFT, the distance from Brunswick 10 Mem.
phis, for instance, being only 700 miles,
while il is 1900 miles 10 ST. Louis or Chicago.
Bruns,i lex will probably be our port. Ii
has very deep harbor, ample wharf room
and facilities for coaling. Cars discharge
grain Immediately into the ships. The
whaives are owned by the railroad, and no
wharfage lie charged, as at New York and
9th rsoaatlv Al
several large carsoes of grain, bought in
Georgia ard Tennessee, and 1t reached
Europa in excellent condition. We received
lately several Inquiries for low rates from
here TO Nashville, from buyers who intend
exporting from Savannah"
STORAGE FACILITIES.
"What about the storage buainess?"
"It has been very satisfactory. We have
now in the elevator 1900 sacks of cotton
seed, 10000 barrels OF salt, 5000 sacks Of
peas, 1000 sacks of corn and oats, aud a
large lot of -four, potatoes and other freight.
A great advantage TO the dealers is the
warehouse receipts we issue; something
unknown here before. Formerly q man
who bought goods had TO pay for Them
in q lot and take them to his home. Now
ne gets when the goods are stored in the
elevator warehouse receipt and turns it
over TO bank, which advances the money
to pay Tor the consignment, keeping the re-
ceipt. He then gets the goods in any guam
tity desired, paying for what be gets. This
system enables a dealer TO operate largely
upon small capital, and the shipper is Sc
cured"
BIG INSURANCE.
"What is your rate of insurance."
at is placed at four per cent. by the local
underwriters. This is entirely too high, and
we hope 10 have il reduced at an early day.
The rate for the same class OF property at ST.
Louis is l1-20 per cent; at Nashville one
and one quarter 10 one and three. q aIters, and
at Cairo Two per cent. This extreme cost OF
insurance is very detrimental to our bust
ness, and, in fact, occasionally amounts 10
absolute prohibition. For instance, we con.
tracted to store let of sugar at thirty five
cents hogshesd, and the insurance on it was
forty ceuis."
SAFE FROM FIRE.
"What facilities have you for putting out
6res?'
Thirty regulation plugs are distributed
over the building, and water can be pumped
BY our engine clear up to the roof of the
grain elevator. There are two watchmen,
an engineer and fireman on duty day and
night. l don't see how the building could
be burned wien all these precautions are
taken, especially when it is 30 solidiy built.
The floors are of heavy oak or pine; the
sides are covered with corrugated iron, and
the whole covered with substantial gravel
roof"
THE KANSAS CITY ROAD.
"Have you any arrangement or under
standing with the Kansas City road about
grain?"
"Mr Nettleton, general superintendent OF
the road assures as that he will cooperate with
us in building up the grain trade. His rosd
has completed plans for the construction of
a grain elevator on the Arkansas shore, oppo-
site the icehouse. II will have a capacity OF
100000 bushels, and will help US 10 build up
Memphis as grain market"
SUGAR AND TOBACCO.
Have you done anything towards making
Memphis sugar and tobacco market"
"The handling of sugar has largely in
creased of late. Many planters ship direct
to Memphis dealers, instead OF to New Or
leans, as formerly. This saves freight and in
sur snce, and the New Orleans profit, and ad-
mits of sugar being sold here at lower figures
III an in the past II can be stored and kept
in good condition in the elevator at all times,
which is great advantage. Nothing hiss
been done in tobacco to speak OF.
OUR PROSPECTS GENERALLY,
said Mr.. Galloway in conclusion, "are very
encouraging. The package elevator lie al
ready a success, and the grain business is
bound to increase very largely. The COM
pany ia as strong as any in the country, in
GLIDING among its stockholders such rail-
road magnatee as c. P. Huntington, z. T.
Wilson and C. NJ. McGhee, and number
IF we'll known local cspitslists. With ak
acres OF foor-room, you can zee that we
started in TO do business on 4 big scale. The
csving Of the bank in front of the elevator
nss been arrested by mattresses sunk there
by the government. Ali of the mattresses
hat were tied TO the bank and properly