The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-11-11
COTTON'S TWELVEMONTH
PRESIDENT MINIS REPORT TO THE
COTTON EXCHANGE.

The Trade at Savannah Reviewed.
Some Of the Causes That Have In
fiuenced It-A Hint TO the Trsnspor-
tation Comprehensive Through Bill
of Lading-General Condition of the
City's Commercial Interests.
The twenty-fifth annual meeting of the
Savannah Cotton Exchange was held last
night. President J. F. Minis submitted his
annual report, In which he reviewed 10 q
comprehensive manner the trade interests
of the city, dealing, of course, specially
with the cotton trade. This. Mr.. Minis re-
marked in beginning his report, appears
TO be IN a healthy condition
although the prices have been lower than
ever known, which would indicate that the
merchants have pursued conservative
policy, aud have not been affected by the
great reductions in values.
STATISTICS OF THE CROP.
The president then takes up the cotton
statistics. The net receipts of the port tor
the past season were l, 026, 623 bales, against
l, 139 $50 bales for the previous year, show
ing decrease Of 112, 9S7 bales, or .0991 per
cent, and constituting .1135 per cent OF the
total crop, as compared with 1876 per cent
last year. In referring to the short crop
be says: Although the crop in this sec
ton was undoubtedly short, as compared
with last season. the decrease
in receipts was also due in
measure to discrimination against
this port by the Richmond and West Poiut
Terminal system, which diverted business
from here, with the object Of showing in
creased earnings of other properties which it
controlled. Cotton which really belonged
TO the port Of Savannah was changed from
its regular channel of export and carried to
other ports to show greater gross earnings
for two other corporations. which were also
controlled by the Richmond and West Point
Terminal Company. Not satisfied with
doing this port this injury the controlling
corporation removed the business offices. the
machine and repair shops to Atlanta, which
hurt this city in more ways than one."
THE THROUGH BILL OF LADING.
The necessities of trade and the competi-
ton Of business have tended to favor the in
terror exporter against the port buyer by
means OF the Through bill of lading.
This" Mr.. Minis says, sis unfortunate,
but we can suggest no remedy, as this grow
ing innovation ia prevalent at all the cotton
ports. As most Of the large interior mar
kets are open to competition from the Vari-
cuw ports, we cannot see how the pres
emit system can be improved upon
by the different transportation companies
except with loss of venue. The tendency
OF the times demands that the consumer and
the producer should be brought as closely to-
gether as possible, and with reliable tele-
graphic information which Is 80 easily OBJ
tainabls, and the rapid transit now so uni
versal, the volume of business going through
the ports on a combination rate cannot
be avoided. We must endeavor to do bust
ness 'es it is not as 1t was"
A HINT THROWN OUT.
President Minis thinks, however, that the
transportation companies. which have this
port as q terminus, are not always suf--
ficiently keen after business. and that other
corporations, whose interests are connected
with rival ports, often divert cotton from
here which, In good faith TO their compet-
itors, they should not Stouch. The national
government has passed an act to
give Savannah &c feet of water
from the city to the sea, and for this
years work has appropriated $3lS,750. Mr..
Minis considers that the engineer depart
rnent is in most able hands, and the money
used to the best advantage. 1--WE now have
greater draught of water )" he says, "than
ever known, as We can take % feet on spring
tides and 81 on neap tides from the city
over the bar"
THE CITY's GENERAL TRADE.
In reference to the general trade OF the
city, the report says 1t has been good, and
up to the present time, Notwithstanding the
financial depression following the Barring
failure, there have been no failures of any
moment. The value Of buildings erected in
Savannah during the past year has
amounted to over $750,000.'
The cotton exchange and the board of
trade have put themselves OH record in Joint
meeting against the free coinage of silver,
which, if persisted in. would ultimately
mean 20 this country suspension Of gold
payments. No part OF the country would
suffer so much as the south. if this state Of
things should exist. as the fiuctuation of the
gold premium would put the cotton planter
at great disadvantage In the sale Of his
product, and enhance materially the value
of all imports
There is every prospect Of the Savannah,
Americus and Montgomery, the Middle
Georgia and Atlantic, and the Macon, Dub
lin and Savannah railroads having their
to. minals here by the end of 1898.
THE OTHER INTERESTS.
In touching upon the naval stores trade Of
this district MIR. Minis refers Co the fact that
1t has suffered from overproduction, and
consequently lower prices. The receipts of
rosin at this port are In excess
1874 ,274 barrels over last season. and Of tur-
pentine IS, 100 casks, which makes the port
hold its own as the leading port Of the
world. In reference to the lumber trade
be points to the increase of l49, 232, 81 feet,
and the fact that this branch Of the city
business is In a prosperous condition. The
rice trade has been much depressed, owing
to the immense production In Louisiana.
In concluding his report Mr.. Minis says:
Owe have TO be thankful for the general
healthfulness of the community, freedom
from storms and other contingencies which
might retard the prosperity Of our port
With the promised increase Of railroad
facilities and deeper water we think the
future OF the city most promising, with
every prospect of it retaining its position as
the second most influential port OF the
south"
The exchange began the year with 131
active members, seven absent members and
fourteen attorneys. There are now 1872 active
mem bers, niue absent members and seven
teen attorneys. showing gain OF one active
member, two absent members and three at
torneys, or an increase OF income from
membership alono of $3.50.