Savannah morning news., 1885-11-06
THE COTTON EXCHANGE.
PRESIDENT CONFER REVIEWS
THE YEARS EVENTS.

the Entire Crop-The Railroads
Charged with Discrimination Against
Local Interests-The High Charges Tor
Compressing and slowing Vessels-The
City's Property.
The annual meeting Of the Cotton Ex-
change was held last night. The princi-
pal matter Of interest was the reading Of
the annual reports of the President OF the
board of directors and the various COM
mttees.
President II. NJ. Conner submitted an
exceedingly interesting report, in which
he deals with matters of vital interest
both to the Exchange and to the port.
Aludng to the workings OF the Exchange
he says;
The reports Of tho standing commit
tees all evince the continued prosper
ou- condition of our Exchange, That Of the
Committee on Appeals, in reporting no busi-
ness, particularly speaks well Tor the harmony
and good feeling which has pervaded the
multitude Of business transactions during the
year, and is additional proof OF the value Of
organization for the purposes OF exchange of
views and ideas, and OF providing proper
rules and regulations for the government OF
trade ana commerce.
The report OF the Committee on Finance is
also crafty lng, showing as it does that our
condition.
The assets are given in detail and show that
we nave In good easily convertible securities
what is worth at least $4,000
owing, however, to the unexpected pay
menl OF the $4,000 loaned on mortgage on the
building occupied by the Exchange, We have
been obliged to invest that amount in securi-
ties yielding less return, and to that extent
our Income from investments will be reduced.
Ihi5 report also shows that we were able TO
make, without treuChing unOn the reserve
lund us authorized, a very credltable exhibit
at the New Orleans cotton exposition OF cot
ton samples. both upland and sea island, and,
by permission of the Georgia Historical Soc-
ETY., OF It's models OF the old and Of the new
steamships City Of savannah.
These models were particularly interesting
IN showing the progress nude in ocean trans
portat0n IN little more than half "A century
from the time the old Savannah, the first
steamship, crossed the Atlantic.
To these exhibits was added for distribution
neat and attractive pamphlet by our super
iutendent. giving brief history Of our city,
with such facts relating to our trade and com
mercial advantages and future prospects as
are Of interest to persons seeking information
Of suCn things.
That the pamphlet has served the purpose
for which 1t was intended is evidenced by the
Still frequent calls for 1t.
The finance committee recommend that the
annual dues for members and attorneys be
continued at$l0.
We now have upon the roll 1874 full mem
showing loss during the year Of full mem
bers, absent members, and l attorney.
INCREASE IN RECEIPTS.
Our net receipts Of cotton show an Increase
last year over the year before OF y, ,34l bales,
or II per cent.
To put it in another aud perhaps more strik-
ing way, we received last year net l5l per cent.
Of the total crop, as against 1875 per cent. of
the total crop of the year before.
1t IS thought our receipts for the past year
might have been larger but for the made
quate facilities. which have since been con
sderably increased, for handling the un-
usually large quantity of through foreign
cotton, which business had grown very much
under the competition of transportation lines
having their termini at rival ports, and the
uncommonly fine quality OF the crop.
The competition referred to seems to have
caused our railroads to lose sight, in a meas
ure, OF the local interests here, as facilities
are given to through business which are de-
MED to local factors.
Your board appointed committee to look
into and try to get this discrimination cor
rectcd, but as vet only 4 partially favorable
report has been made.
II Is to be hoped, however, that the matter
viii very soon be satisfactorily adjusted. The
committee referred to have also under consd-
GRAFTON the question OF selling and delivering
compressed cotton.
1t may not be 81 desirable either on the part
OF factors. or exporters TO handle this cotton,
but the changes that are rapidly gong on
MAXI IL necessary unless We are 10 lose q
large share of our business, and it il hoped
some agreement may be had between buyers
anu sellers, and formulated into rules that
VIII be mutually satisfactory, and which will
enable Savannah factors to compete success
fully with interior buyers.
Let US recognize the fact that the changed
and changing conditions of business, may also
involve new methods which, il TOO long de-
layed, may result in loss of business that it
viii he dilhcuIt to retrieve.
1t is generally known that the high charges
made by our local presses, encourage interior
COMPRISING, us they fix the amount of rebate
tho interior buyer collects from the ship here
aud II Wa5 hoped, particularly after the capi-
tai engaged In that business had been largely
reduced by the sale 10 the Ocean steamship
Company OF the Central press property, that
some reduction would be made. In this we
have been disappointed, and the charge for
eompressing Is actually more now than IL was
last year.
The very high-what appears to be too high
charges for slowing cotton vessels, is
another thing hat should clam attention. 1t
is thought this work should be done for very
much less Than is now paid, at all events. it
rs well as the matter Of compressng, should
be carefully considered and dealt with calm
~ and fairly, and in the interest OF all. look
ing TO the future prosperity of the port as
well as present needs.
Situated as we are. at the point, we might
say at the gateway between the land and
ocean transportation on the route from the
producer to the consumer, NJ requires no
argument to demonstrate that the lighter the
expense attending the transfer the more busi-
ness VIII be attracted.
IL does not seem sufficient to saw that our
charges compare favorahly with this or that
port-the question should be, can we not, in
view OF our, in many respects, superior ad-
Vantages AFFORD 10 for less. and more than
make up In quantity and other kinds OF busi-
ness attracted to rs what we temporarily lose
IN price2
EXTENDING FACILITIES.
The erection OF two substantial iron bridges
across TIE canal. and the extension OF the
railroad track in River street, marks an i'm -
p0rtunt change in our commerce, and we trust
that ere long the fun benefits that were an %
ucipAtcd viii be realized.
Anything which tends To Cheapen and facili b.
tate business here is to our advantage. for,
while "a large portion OF the increase that
comes may be business merely passing
through, and of itself not so profitable as under
Old methods, 10 pays something and brings
other advantages with 10.
or one thing we are sure. we are now hav-
ing very sharp competition for business which
few years ago we rockoned as our own, and
IL oehoOyea MS 70 give eucuuraEcm 60 every
measure which tends 90 increase the business
OF our port, even though large portion of it
merely passes through, for 10 gives employ
mcnt to our transportation lines, and in many
ways, directly and indirectly. fosters local
enterprises.
li is not intended by these remarks TO speak
QiscuurAgingly Of our local business, but TO
point out errors, the correction OF which VIII
materially Hid iu increasing our traffic and
our commercial Importance.
While we have fC the depression that has
for several years existed All over the world.
our own burden has been light as compared
with that Ul some and unlr that tina tide