Savannah morning news. [volume] (Savannah) 1868-1887, 1885-03-29
SAVANNAH'S COMMERCE.
REVIEW BIZ THE PRESIDENT OF
THE BOARD OF TRADE.


dicates-The River and Harbor Inn
prOvemeDts.
President Clarke, of the Board of Trade,
in his annual report, gives an In
teresting review of the affairs
of one of Savannah's progressive
institutions. After a statement of its
condition and what has been accom-
plished during the second year of its
existence, in which he refers
to the industrial exhibit at
New Orleans, he takes UP a
number Of important questions relating
directly to the interests of the port. In
discussing the naval stores trade he
alludes to the practice of false packing
rosin, which was considered by the board
in August, at which time resolutions
were adopted and printed, and sent
out to the factors for gratuitOus dis
tribution in the hope OF checking the
pernicious practice, and with a view of
sustaining the reputation of the market
for fair dealing and keeping it's dealers
above reprOach. The resolution was:
That the full power and influence of the
Board of Trade viii be eXerted to detect and
bring to punishment any persons found so
violating the law
Since this action no notice of such
attention of the board. President
Clarke considers that the prompt
action accomplished much towards miti-
eating the evil, if it has not altogether
eradi Gated it.
The subject of naval stores quot ations
commanded no little of the attention of
the board during the year. Considerable
dissatisfaction at one time was expressed,
and q meeting of the naval stores dealers
a Of
had regarding the proper method of ar
irving at correct quotations. The result
of the meeting was the adoption of resO-
luton asking the dealers, buyers and
sellers to report their transactions. This
system was generally observed by
the trade at first, but the
dealers gradually fell into their
old ways of Withholding advices of sales,
or depressing prices, which now makes it
almost impossible to supply correct quo
tatiOns based on actual transactions.
Whether this is a necessity of the
trade the President does not pretend to
say, but he is of the opinion that but lit
tie advantage can be gained by such a
course, or by reporting sales on private
terms, as they seem to be generally an
open secret shortly after the transactions
are concluded. Under the existing cir
cumstances as satisfactory quotations as
possible are given.
The prosperous condition of the rice in
dustry is referred to in the report, but the
suggestion for an increase of outlay on
behalf of the trade, IN the face of the
apathy displayed towards the success of
the board By members representing that
interest, is not Endorsed. While Presi-
dent Clarke is reluctant to encourage any
curtailing CT valuable information. he
suggests that it might be well for the in
ftiNtt ffat
slider whether the expense it is now under
for the benefit Of the rice trade is war
ranted by its limited representation.
In referring to the advantage accruing
from the board as an organization he
says: 81 cannot lay too much stress on
what 1 think are the advantages to a city
of diverse interests such as Savannah of
an institution like this where the quo
tatiOns Of other markets are bulletined
for the benefit of its members and every
facility furnished for their meeting and
transacting business, and where they
have strong body to aid in redressing
wrongs and to combine for the develop
ment of home enterprise and the advance
ment of the general interest of the COM
mercial community, and also for the set
Element amicably of many disputes
arising among members which otherwise
would entail delay and expensive litiga-
tiOn."
TRANSPORTATION RATES.
Relating TO the reduction of rates on
naval stores Ire President recOunts the
efforts OF the committee APP
pointed to address the saIlrOad authori-
les with that object in vICw. Three
'Oads positively, he says, declineu 10 ac-
'ede to the request; another intnlaSed
hat the only basis of treaty would be !
subject to stipulatiOnS the board did not |
leem well to indOrse, because 1t might |
seem to sanction the removal of the only
the people have to protect them
rom the eXorbitant transportation
charges liable to be INDUCED in by the
railroads when not restrained by legisla-
ton.
81 agree with a prominent railroad
he goes on to say, sin that the
state should be very conservative when
interfering between two classes of its
citizen , but do not think it applicable
Ia the case between the citizens and the
the majority of the stock of
which is owned tside of the State, and
may be fifty termed incorporated mOnOpO-
lies whose principal interest in our par
Licular welfare may be summed up in
their earning large divid nds. | must
also say that l do not construe the rail-
road law of Georgia as the representa-
ii es of railroads seem to do. AS under
stand it, the commission makes only the
maximum rate, and | have yet to learn
that any of the railroad managers have
adopted any other than that maximum as
their minimum except at a few COMPETE
tive points"
AS to the fear of restrictive legislation
preventing outside capital from being put
into railroads in our State, he says: 81
do not think that any of the investors will
not how srafn Toh
merely as philanthrOpists, and
| think their returns for actual amounts
invested will compare favorably with
those placed in like property in other
States. 1t would be far better for the
and permanent advancement of
the State could the roads be built by her
own people, for then-Once a year at
least-the stakeholder, who would also
be the customer, might make known his
grievances and call to account the man
agement of the road. Then, if his cause
we're just one, his fellow shareholders
would probably join IN redressing the
wrong. But where road is owned by
foreign syndicate no such mode of relief
is attainable.
THE RESULTS OF POOLING.
"Of course where competition exists it
may fairly be claimed that rates Will be
Just and reasonable, as in all other bust
ness enterprises. But this is little other
than a theory as far as our knO Wedge
goes, the devices of pooling and division
of territory adopted by railroads generally
having made competition almost obsolete.
do not wish to imply that l
ignore the rights of stockholders
to a fair return for their investments,
nor do | consider it eXpedient to do aught
TO discourage capital seeking our State,
but | cannot agree to the claim that the
making of rates should be left to what the
owners of roads consider responsible rail-
road managers. Although admitting
their great experience and aptitude in
their profession, their greatest qualifca-
ton in the minds of investors must be
the returning of large profits, which is
naturally paramount to all other cOnsid-
erations. These profits have to come
from the products and Industries of our
people, who are in great many cases
helpless to protect themselves.
"As to the bills before the Legislature
on this subject, there might be an adj
vantage in having Court of Appeal from
what might be thought arbitrary decisions
of the Railroad Commission, but think
it should be so devised as to be within the
reach of every person, as litigation to a
railroad corporation is comparatively in
extensive, with their permanently paid
staff, selected from among the ablest legal
counsel of the State. If in their wisdom
the Legislature should institute such a
Court Of Appeal, would it not be well to
also create an office to represent the pa
tron who is unable TO employ counsel, or
adopt some other method that would en-
able tho less influential to have their side