Savannah morning news. [volume] (Savannah) 1868-1887, 1886-11-05
C0TTON'S BIG SHOWING.
ANNUAL MEETING OF THE sA-
VANNAH EXCHANGE.


Bales During the Past Tear-The Rail-
roads sim Discriminating Against
Local Business-The handling of Com
pressed Cotton No Reduction in
Charges for stowing-The New Ex
change Building.
The annual meeting of the Savannah
Cotton Exchange was held last night.
The attendance was very large. II. Nj. Co
mer, Esq, President OF the Exchange,
presided. The minutes of tle several
meetings held since the last annual as
sembly were read by Supt, 4. F. Bryan,
Secretary, and were confirmed. The re-
ports of the several standing committees,
all of which were quite brief but very
adopted. There was no discussion
in regard TO any Of the
reports, but Messrs. Harrow and Menelas
made pertinent remarks upon the subiec ct
OF establishing types by which to grade
cotton. when the report OF the Committee
on Quotations was presented.
President Conner read his report. IL
met " it'll general approval, and Mr.. Conner
received the applause Of his fellow men,
bers at the conclusion Of the reading and
their congratula tions alter adjournment.
TIE report is as follows:
PRESIDENTS REPORT.
To the Nem6ers Of The 5qgannah Cotton E.c-
change
GENTLEMEN-Tne reports OF your standing
committees all show that we have had an
other year Of reasonably prosperous business,
and that the same good feeling noted in the
last annual reports has continued to prevail.
The report Of the Committee on Finance
shows that our expenditures have been with
IN the estimates submitted at the last annual
meeting, and that our receipts having been
somewhat larger we have something more
than $1,000 10 carry over to next year.
We have upon the rolls ore hundred and
thirty fun members, five absent members and
eight attorneys. being a loss during the year
OF four full members, four absent members,
and gain OF one attorney.
The table at foot, compiled by our Superln-
tendent from the National Cotton Exchange
reports, shows that our net receipts of cotton
for the past year Increased 1922 naes over the
preceding year, and that we received l2 g. 10
per cent. Of the total crop.
INCREASE IN RECEIPTS.
That our receipts do not show IA larger pro-
portion OF the crop than the preceding wear
is owing to the fact that the increased yield
east of the Mississippi was much less than
that west, The increase Of net receipts at Sa-
vannah was more than at all the other Allan
tic ports combined
This speaks well for the facilities for doing
business here, as well as for the enterprise Of
our transportation lines.
What appears to be discrimination against
local business, and which was mentioned in
the last annual report of the Board. exists
still to some extent. The special committee
having this matter IN charge have endeavored
to get it en- irely corrected. but
without success. While the discrimination
is admitted by the railroads, it is claimed
that under the sharp competition of rival
lines having their terminI at other ports, GER
tam facilities have TO be given to through
business which, under the laws of the State,
cannot be extended to local business except
at such sacrifice that cannot be Afforded
This Is certainly an anomalous condition of
AFFAIR.", and Is Il striking illus iratiOn OF the
fact that legislation to control trade and
| commerce Is always dangerous and often
hurtful
COMPRESSED COTTON.
Satisfactory ARRANGEMENTS have been made
for buying and selling com pressed cotton,
but the discrimination before referred to pre-
vents more than limited amount of this bus
mess being done.
1t is exceed ngly gratifying to note the re-
ductiOn in the charge for COMPRISING the
| beneficial effects of which are already APP
| parent, and which must result greatly to the
! interest Of the country tributary TO us as well
as to the advantage of our port.
There has been no reduction in the charge
Tor SLOWING cotton IN VeSSelB-l0deeu SOe-
| clal effort mas been made IN this direction,
| though 1t seems matter of Importance.
IL is difficult to realize the fairness of the
high charges for this work when 1t is remem-
bered that they are even more now than thew
were fifteen years ago, when within that
time cotton itself has shrunk more than 50
per cent. in value. and nearly all other eX-
penses attending the handling of it have been
proportionately reduced. 1t does seem that
If a proper representation Of the facts could
be made to the organizations controlling this
matter that it would he considered and dealt
with by them in liberal manner.
THE NEW EXCHANGE BUILDING.
By consent of the City Council. and in ac-
cordance with resolutions adopted at Il special
meeting of the Exchange, we have begun the
erection of an Exchange building In the slip
at the foot of DraytOn street. The work has
not progressed as rapidly as the committee
having 1t in charge expected. but it has been
done well, and it is believed when completed
we Will have rooms OF which we will all be
proud. and building that will be an Orna-
ment TO the city,
The general Improvement and growth of the
city noted in the last report continues.
The crops in the districts tributary to us
promise, as 4 whole, to be fully up TO the aver
age. The yield of cotton may be somewhat
less in quantity, but the quality Is exception
ally good. and the harvest OF provisions, espe-
cially OF cora and rice, has been quite salts
factory.
Our railroad lines are continuing to open
up new fields for business and enterprise.
W lbllN tilS PAST ScNf INfLnSf extensions nave
been made INTO florida, and in connection
| with the Savannah, Florida and Western rail-
way trl-week y line handsomely equipped
! passenger and freight steamers has been es-
| UabiIshed between Tampa and Havana. bring
| ing Us within close anu quick communication
! with Key West, and less than thlrty-siX
| hours OF Havana, the second port of CONNER
! cial Importance in the new world.
This has also gwen us what is very highly
| appreciated a fast and reliable mail service
with the North and East.
| CENTRAL RAILROADS EXTENSIONS.
! The Central railroad. having completed its
| extensions in south Carolina, opening up 10
! us the best sections Of the Piedmont region, is
now extending its lines into the rich M nera'
| fields OF y ALBANIA, where a connection VIII be
! made with the kansas city. Memphis and
Birmingham railroad, giving a d.
rect and almost AIRLINE connection
! with Memphis, the largest interior cotton
| market IN the south, and Kansas CITY, q place
! destined to be, If not already, one OF the
1 largest markets IN the country Tor the pro-
! duCe Of the vast and fertile region Of the
| Northwest. The line referred 10 brings all
/ POINTS on IL nearer TO us than they are to any
| other Atlantic port.
Owing to the ack of funds necessary to
! prosecute 10 completion works of improve
mcnt already Degun. we have no greater
depth Of WAFER IN orr river and harbOT than
WAS reported last year. The appropriation
M do by tue last Con grcss, however Is now
available. and WORK has been resumed we
nope not 70 be again interrupted.
THE RIVER AND HARBOR.