The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-11-09
C0TTON'S BIG RECEIPTS.
PRESIDENT GREEN'S REPORT TO
THE COTTON EXCHANGE.

|
Last Years Receipts the Largest Ever
Known-This Years Short So Far,
| But Expected to Come Up at the
| End of the Season-The Trensporta-
ton Question Dealt With-The Gov
ernments Failure to Better Improve
the Harbor Denounced.
The Savannah Cotton Exchange held it's
annual meeting last night. There was
an unusually large attendance of members.
| President e. NJ Green and the various COM
mittees submitted their annual reports.
| President Green in his report congratu-
lates the exchange upon its prosperity. The
| finance commuters report, while showing
| that the amount required to complete the
| exchange building was slightly in excess Of
| the estimates made at the last annual meet
| ing, presents the gratifying fact that th Q
| receipts from investments and dues have
created surplus above expenditures of
nearly 81 900, which has been carried over
to the now fiscal year. The same report
| fixes the membership at 131 active mem
| bers, six absent members and nine attor-
neys-a loss of six active members and two
attorneys.
THE YEARS RECEIPTS.
| Tabular statements prepared by Superin-
| tendent Merrihew were submitted showing
| the receipts and exports of cotton, and ex-
! hibiting the extremely pleasing result that
! the net receipts at Savannah for the past
| season, 1892, 1888 bales, are the largest ever
| known-a gain of 81 976 over the previous
| year, and constituting H. GO per cent. of the
total crop, as against H. 43 per cent. in the
season 18S6-87.
The president noted with qualification
| that the sales of spot cotton have kept pace
with the increased receipts. The receipts
of cotton this season have been so far
smaller than those of last season, due in a
great measure to the lateness of the crop.
1t is more than probable, he said, that this
shortage will be made up at the end of the
season, and Savannah will keep its place as
the second cotton port of the United States.
In continuing his report, Mr.. Green said:
THE new exchange continues to give great
satisfaction, justifying in its comfort, ap-
pearance and utility the grateful apprecia-
ton extended to the efforts of our predeces-
sors toward providing building adapted to
our wants and appealing to our pride.
THE TRANSPORTATION QUESTION.
"Since the last report several hundred
miles of railroad have been completed in
sections of the country tributary
to this port, and more are now in
process of construction. The railroads
centering here have, in general, given good
service, though in some cases the transporta-
ton facilities do not appear adequate to the
business offered. For this reason delays
have occurred in the delivery of freight.
1t is proper to note, however, that this
trouble is not peculiar TO the railroads hav-
ing their termini in Savannah, but is true
of nearly every railway line In the coun-
try and of the domestic and foreign
steamship lines Such general activity
in business, accompanied with such scarcity
of means of transportation, by land and by
sea, has rarely been observed, and is a clear
indication of prosperous trade. The Ocean
Steamship Company, despite the addition
to its feet in the City of Birmingham, is
still unable to provide room for all the
freight offered.
1.-The crops in the region of our port are,
with some exceptions, goo1. The cotton
crop was damaged in quality, and perhaps
In quantity, oy the heavy rains in August
and September, but the hope is INDUCED
that the recent fine weather will have
enabled planters to gather more than was
expected.
THE RIVER AND HARBOR.
During the past year little work could be
done on the isnprov of our river and
harbor, because of the exhaustion of funds
This important work will now be resu med
in consequence of the recent appropriation.
The absolute necessity of securing for this
port depth at mean high tide of twenty
eight feet is so obvious that it would seem
that action rather than argument is the
treatment to be applied. 1t is urged upon
our representative IN congress, that in strict
consequence of the insufficient depth in our
river, trade belonging naturally to Savannah
is being gradually diverted to other ports,
where vessels of large draft can load with
out detention. In view of its vast CONNER
cial Importance, affording as it does bust
mo- 70 fha 10 of oil
great nations Of the earth, the treatment
which tbis port has received at the hands of
congress has been shameful. A 1.-THE of the
money expended upon streams which can
yield no return to the investment would en-
able Savannah to reap all the advantages
which its position invites.
THE CITY's GROWTH.
The city continues in spite of the made
quate contribution to our harbor to grow in
a steady and solid manner. Its industries
have prospered. It's Investments have ap-
preciated. aud, due to the watchfulness of
the sanitary authorities and the improve
ments IN drainage continually projected
and carried out in the city and county, its
health has been phenomenally good.
1t is to be remarked as subject of con-
graduation that there have been no cotton
fires this season-an incident last year of
| disastrous frequency. Our escape 50 far
| should incite us to all measures which tend
| to secure immunity in the future. 1t is be-
| lieved that hearty cooperation with the
insurance companies will contribute much
| to bring about this condition.
In closing this report it is permissible to
| congratulate you upon yhe perfect success
attendant upon the establishment of the
| exchange and its workings since its influ-
| ence for good in commercial affairs is as
sured, and it has been no unimportant
factor in the development of the prosperity
of Savannah The kindly relations engen-
dered among its members, and the gener-
Gus emulation evinced in its affairs and
interests demonstrate that its foundations
are laid upon broader. lines than mere bust