The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-09-04
SAVANNAH'S BUSINESS.
A Comprehensive Review of it for
the Past Season.
ITS VOLUME GREATLY INCREASED.


the Previous Yesr-The Naval Stores
Trade in a Flourishlng Condition.
Big Business by the Railroads-The
Volume OF Business in the Wholesale
Trade Larger Than Eyer-Real Es-
tate in Good Demand and Many
Houses Being Built-The General
Prospect Very Promising.
OFFICE OF TIE MoRNING NEWS,
SAVANNAH, Sept. !, 1891.
The business of Savannah for the year that
closed Aug. 81 was not, in all respects, as sat
isfactory as that of the previous year. for the
reason that tight money market depressed
trade TO a very considerable extent, made col
lections difficult and brought about some fail
ures and the low price and inferior quality Of
cotton were cot without a hurtful influence.
The volume OF the city's business, however,
was much greater than that of any
previous year. At the opening of the season it |
was predicted that Savannah's cotton receipts |
would be more than 1900. 900 bales. The predic- |
ton came true. The receipts were very nearly |
10000 bales And had the quality of the cot
ton been as good it usually is in this market.
and had prices remained at about what they
were at the opening of the season. there would
have been an amount of prosperity in business
circles rarely witnessed ia spite Of the
remarkably tight money market. But,
Notwithstanding the drawbacks mentioned
there was not much room for complaint. The
extraordinary large cotton receipts compen-
stated in part for the poor quality of the cotton
and the low prices received for it. But while the
factors may have done pretty we'll it is not be
lieved that the exporters made any money The
steady decline in prices against thsu, and
made prosperous season for them impossible.
The outlook for the present season, so far as
che quality of the cotton is concerned, is rather
promising, but not much can be said about the
prices yet. They are low now The rains in the
latter part of August damaged considerable
cotton, but when that which has been dam
aged is out of the way it is thought that the
quality will be excellent. Savannah's receipts
this year may not exceed those for the season
Just closed, owing to the fact that much Of the
cotton in her territory has been ruined, but to
Offset this she will have some new territory
the territory belonging to the newly opened
South Bound railroad. 1t is pretty safe to say
therefore. that Savannah will maintain her
place as the second cotton port in this country
Savannah continues to be the great naval
stores depot. She has been for years the greatest
naval stores market in the world and there is
not much doubt that she will continue to be for
many years to come. She has the capital neces-
sary to handle the product of an imm ense area
of country, and her merchants are plucky and
pushing. They also enterprisng. and are
always ready TO assist in opening up new terri
tory. The year just closed was a prosperous
one for them. The volume of their business
was larger than in any previous year, and it
was conducted upon such a solid financial basis
that there were no disasters worth noting.
Savannah has for many years had a great
Wholesale grocery trade. This is due largely TO
The fact that she can undersell interior points,
and also to the bold and aggressive spirit
shown by her grocery merchants. They are
continually venturing into new territory and,
as a rule. they meet with success. Last year
however, although their business in the new
territory was large, it not as profitable as
ihey could have desired, owing to the fact that
they met with unusually large percentage
of losses.
And the wholesale dry goods men also we're
unfortunate in meeting with losses in the new
territory in which they operated. However
their business, taken as a whole, was larger in
volume than in any preceding year, and showed
good balance on the profit side of the ledger
The dry goods merchants steadily pushing
their trade TO greater proportions. About the
only thing of which they complain is the long
credits they are forced TO give. AS matter of
fact there ought to be soma reform in this mat
ter AS business is now done a merchant has to
wait altogether too long for his money.
The volume of the lumber trade is steadily in
creasing, but the last season was not prosper
GUS one for lumber merchants. The financial
and other troubles in South American countries
shut off exports of lumber in that direction, and
consequently prices in the domestic markets
were knocked down by the extraordinary vol
hme of the offerings
The rice crop was a short one. It was below
the average, and the rice planters mill men and
factors we're not particularly happy The pres
mt crop, however, promises well. If the
weather is propitious the planters will bs COM
penssted in a measure for losses of the last two
or three years.
Notwithstanding the fact that they carried
an extraordinary amount of freights the rail-
roads having their terminals in Savannah did
not make much money. They claim that the
railroad commission pressed them too hard and
made next to impossible for them to do profit
able business. The Ocean Steamship Company.
however, did remarkably well. Its business
now is good one all the year around. Having
popular manager and popular officers, it has
become the most profitable and most popular
coast steamship line of this country
That Savannah is going ahead is shown nv
the fact that over 700 buildings were erected
within her limits last year, and that about
S1.500.e00 spent in dwellings and other
structures. The price of real estate keeps nm
and the demand for houses continues Indeed.
the demand for houses has exceeded the supDly
Tor several years All of those who invest IN
dwellings find the investment a good one
Few realize how greatly the shipping at this
port is increasing, and this increase shows as
clearly as anything else the growth of the COM
merce of the port. and is a strong argument in
favor of deeper water in Savannah harbor. The
number Of vessels that entered this port last
season was 2,236, and their tonnage was 2.165.-
$40 tons. The previous year the number of YES
sells was 2,i39 having a tonnage of !, $50 go
IONS, an increase of 81 vessels and 17s $50 tons.
This increase is remarkable and is proof OF
Savannah's steadily increasing prosperity.
Savannah's railroads are steadily reaching into
new territory and making it tributaryto Savan-
nsh. The South Bound will be open for bust
ness within a month and will tap one of the
richest portions Of South Carolina. The Savan-
nah Florida and Western is now bringing phos-
pilates from Florida for shipment from this
port. Within year or two the volume of these
phosphate shipments Will be immense
And these phosphates suggests that the fer.
Iilizer business of Savannah has reached
enormous proportions. And the fertilizers
which are sent out by Savannah companies
aave a splendid reputation throughout the
state.
Savannah is steadily moving ahead. There is
40 doubt about that. Her people have con-