The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-11-08
COTTON'S BIG PROSPECTS.
PRESIDENT BLOODWORTHs RE-
PORT TO THE EXCHANGE.

October Receipts a Year Ago - The
Cotton Movement and 6avannah's
Facilities for Handling the Crop.
Matters With Which the Cotton
Exchange Has Had to Deal
The annual meeting of the cotton ex-
change was held last night There was a
full attendance of members. President F.
ID. Bloodworth submitted his annual re-
port in connection with the reports of the
standing committees. The presidents re-
port is an interesting resume Of the cotton
trade Of the port during last year.
Among tie noticeable features in the
statistical reports presented by the super
lntendent, the president points to the fact
that the net receipts of the port for the
year ending Sept. were Ga, go bales less
than the previous year. Some of the cotton
from Savannah's territory was unquestiona-
! bly, diverted to other ports, but the record Of
receipts from local stations on roads having
their termini here show that the shortage
from such stations is fully equal to the
deficit In the total receipts, and the diminu-
ition in the port receipts is, therefore, due
TO the small crop in the country near
| Savannah, which sends its whole product
here. This would indicate that the cotton
lost to other ports was compensated for by
receipts drawn from new territory. The
total net receipts for the year ending Sept.
L were S2S, 1853 bales, against receipts for
same date last year of 1872 3S 8 bales.
THE PERCENTAGE OF RECEIPTS.
Savannahs percentage of receipts to the
total crop Of the United States is, 1874
against 1895 last year It will be noted
that the sales of spot" cotton were
slightly less than for the previous year.
Inls will be readily accounted for by the
shortage a receipts from nearby stations
| whose entire receipts are consigned locally
] to Savannah.
The president alluded to the fact that
| the present season has opened with every
| Indication that the receipts of the port will
| far exceed any previous year. The total
| net receipts for September and October
this year were 3S6,542 bales against for
| same date 1888 313, 6l8 bales, showing an In
| crease of 1924 bales, or over % per cent.
These figures give assurance that Savannah
VIII continue to maintain her position as
the first Atlantic cotton port and the second
| cotton port of the United States. The cot
ton crop of Georgia is unquestionably good
II 1t IS not, indeed, the largest ever har-,
vested,
TRANSPORTATION LINES.
The completion of the Eden extension of
the Savannah and Western railroad to
Sterling, where it will connect with the
Savannah, Americus and Montgomery rail-
road, is a question of but a short time.
Ii is expected that trains will be running
by the end of the year. This road pene-
trates region whose stores Of lumber, tur-
pentine and rosin are almost untouched,
and the development Of the country which
will follow the completion of the road will,
in time, largely add to Savannah's receipts
OF cotton and other produce
Among the projected railroads the South
Bound gives most promise of early con-
struction. The promoters of this enter
prise have ample capital assured to build
the road as soon as sufficient announcement
in tue way of local subscriptions is received,
and the greater part OF these subscriptions
has already been secured.
The refusal OF the present general assem-
bly, to pass the Olive bill, or any substitute
| embodying its main features, the president
| remarked, isgratifying as an indication tnat
the limit of unfriendly railroad legislation
has probably been reached, and that capital
| employed in building railroads is not to be
| outlawed
THE CITY's GROWTH.
The growth of the CITY in wealth and
population, tested by the most reliable
means OF measuring growth, the
Notwithstanding the large number Of
| residences erected during the last
year, the demand for houses exceeds
the supply. The value of real estate is
steadily improving. Within the last few
years several new banks have been estab-
lished, and the banking capital Of the city
| has been considerably augmented. The
fact that this additional capital has found
| employment at rernunerative rates clearly
| indicates enlarged business
In no department has Savannahs trade
| shown more remarkable DEVELOPMENT than
in naval stores In 1873 the value of
the receipts did not exceed $4,000.
| A conservative estimate places the
| value this year at $4,000. 600
In table of statistics compiled by the for.
mer superintendent of the exchange it was
shown that the total imports and exports of
the city for 1887 were $107. 423, 315. This
was an increase of nearly $40,0OO,000 over
| 1887.
While Savannah lays no claim as yet to
| be classed among the manufacturing
cities, it has been ascertained by canvass
of something over twenty Of the principal
manufacturing establishments that their
annual product amounts to about four mil
hon dollars.
THE CITY'S LOSSES BY FIRE.
The report deals with the fire question in
a general way, abiding to the fact that
most of the buildings destroyed by the fire
of April last are being replaced by more
substantial structures, aud that the Sayan-
nah Cotton Mill is being rebuilt
on more convenient site, and
with increased capital and improved
machinery. The recent cotton fires on ship
board, the president says, suggest the in
quiry whether the precautions which pre-
vented such fires last year have not been. in
some measure, neglected this season. The
ordinance lately adopted by the city as to
spark arresters on smokestacks will doubt
less do some good, but the law requiring
lighter loads of cotton to be covered with
tarpaulins ought TO be rigidly enforced. 1t
is well known that lighters frequently pass
up and down the river with their loads i'm
perfectly covered.
The facilities of the port were pointed to
by reference to the fact that the recent de-
struction of two of the presses of the Sa.
vannah Cotton Press Association caused
scarcely any appreciable delay in the bust
ness OF the port.
THE RIVER AND HARBOR.
The improvement of the harbor the re-
port deals with as a matter Of the create 81
concern to the citizens of Savannah and OF
the large territory whose ou:port it is.
1 L..