The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-09-03
SAVANNAH FOR 1892.
A Full and Interesting Re-
view of Her Past Years
Trade.
SHOWING 1T is IN A HEALTHY CON-
DITl0N.

Causes that are Stated-A
Great Increase in the Receipts
of Naval Stores-Efect of the
Low Price Of Cotton and Naval
Stores - Merchants Make a
Good Showing, Notwithstand-
ing the Business Depression
Savannah's Real Estate Holds
Up WeIl-A Great Deal of
Building During the Last Year
and Much Promised for the
Present Year-The Outlook fo1
this Year Very Encouraging.
OFFICE OF THE MORNING NEWS,
SAVANNAH, September !.
While Savannah, in common with other
business centres in the south, had to con.
tend with the depression which resulted
last year from the low price of cotton and
the resulting financial stringency, the re-
suits of its trade, as is apparent from the
following reports, were not OF such dis
couraging character as was generally be-
1ieved would be the case. While the city'I
jobbers were forced in selEprotection to
curtail their credits, even TO their best Gus
TONERS, and to frequently decline to fill
orders that under other circumstances
might have been honored with comparative
safety, the decrease in the gross sales for all
lines Of goods during the year hardly passes
10 per cent, While this may seem large
and serious falling of in trade, and would
be such If Savannah stood alone in this
respect, 1t is found on comparison with the
decrease reported In the wholesale trade of
other southern cities to be really an excel
emit showing. The reports Of the years bus
iness. when all the circumstances are con-
sidered, are moro gratifying than other
wise. The fact must be kept In
mind, too that the extreme care exercised
during the past twelve months in the CIV
ing of credit has already borne good fruit in
many respects. That this policy will be
maintained hereafter Is quite certain, no
matter how prices OF cotton, naval stores
etc, may rule. Business, as a result Of the
stringency now nearly ended, has been
placed on q much safer basis than hereto
fore. The unlimited credit system has
been checked and its power broken. That
this is for the good OF the south and the
entire country cannot be disputed. While
proper regard for the interests of the retail
ers has been displayed, collections have
been forced somewhat more vigorously than
in the previous year. While they cannot
be said to have been good they have not
been as bad as the tightness of the money
market and other drawbacks led merchants
to expect.
During the year cotton reached the lowest
point in the history ofits prices. Savannah's
receipts were $4,000 bales less than in the
previous year, this being due to q combina-
ton of circumstances which will never oc-
cur again. The receipts, however, were con-
siderably over coo 900 bales, and were greater
than those Of any previous year except last
year. This year, with a smaller crop, Ia
vannah's receipts should be as great pro-
portionately as they were In lS909l. At
present better prices are looked for than
were received in the season just closed. 1t
is on this basis that general business has
been recently stimulated and the outlook
for trade construed as favorable. It is
doubtful II there will be any additional
railroads running into Savannah during
the coming year to aid in increasing the
receipts of the port. There is every reason
TO believe, though, that toward the end OF
1893 two and perhaps moro roads that are
now partly constructed will have their
terminals here and prove valuable factors in
swelling the receipts OF cotton, naval stores
and lumber as well as adding considerably
TO the volume of trade in groceries, dry
goods, hardware, etc. These roads-thA
Savannah, Americas and Montgomery, tAe
Middle Georgia and Atlantic, the Macon,
Dublin and Savannah and the line that Is
20 connect the South Bound and the Florida
Central and Peninsular-will all open up
fine sections of country and place Sa-
Vannah in direct communication With q
territory 1t has heretofore been difficult for
Its merchants to reach. Rapid develop
ment along these new railroads Is looked
for, and they will consequently become i'm.
portant factors in Savannah's future pro-
gress. The expectations concerning the
benefits to be derived from the South Bound
have been realized, and there is equally
as good reason to expect as much from each
OF the roads mentioned.
Naval stores suffered like cotton from
overproduction and consequent low prices
The recently organized association, en-
bracing in its membership the operators OF
Georgia, Florida and Alabama, is expected
to curtail production, lessen the price OF
labor and work other needed reforms. This
has been hard year with them, and hav-
ing the remedy in their own hands they
sulting from a close combination. based on
mutual necessities. The condition of the
naval stores market had its full effect on
the jobbingtrade. With such a depression
in the two great products of this section at
the samS time, the success with which Sa-
vannah's business men have surmounted
the great financial difficulties that beset
them reflects most creditably on their
ABILITY and the manner in which they have
conducted business. During the coming
twelve months they will reap the benefits
OF their conservatism and of the good prices
that now seem assured for cotton and
naval stores.
Speaking of the wholesale trade specifi-
cally, the year has undoubtedly been one
of the hardest experienced in many years.
Little new trade has been sought and only
that which seemed beyond questioning was
accepted. No trade OF any value has been
lost as result of the caution exercised in
selling, and with money more plentiful in
terror stocks, now well depleted, will be
speedily replenished and trade become
more vigorous than before. Those Gus
toners who purchased sparingly last year
are now showing disposition to be more
liberal In their orders. While the safe.
guards will not be removed the demand
now springing up will be met. Business