The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-11-06
on Of BAD compressing is as apt 70 give

!
We would call attention to the supply OF
steam tonnage out of this port. There are
three steamers week TO New York; two
| steamers q week to Boston; two steamers
/ a week to Baltimore, and one steamer a
I week to Philadelphia. All make con1ec-
/ ton at the northern ports with the for
| elgn lines, thus Offering through bills or
lading to almost any foreign port. In
addition there are the tramp steamers
which carry a large portion of the re.
! ceipts, and at this time there are fifteen
! of these boats in port, many of them over
! 1000 tons net register, loading for Eng
/ land, Russia Germany, France, Spain,
/ Italy, and boats to load for Belgium and
! Austria are on the way. Surely with such
/ transporta ton facilities offering, the cot
ton receipts at this port should largely in
! crease.
But whilst Savannah receipts showed
up so well last year In comparison with 9TH
or ports the figures this year are quite the
| reverse Cotton is being diverted from our
territory to other ports TO such an extent
that the situation is alarming, and we are
confronted with the fact that unless some
thing is done and that quickly we shall
drop from the third 10 the fourth cotton
port. In September we were told by the
railroad authorities that the large increase
in Norfolk's receipts and the serious drop
ping off in ours was caused by the cut in
rates made by the Seaboard Air Line, that
this would be remedied after the first Of
October, when the rate war would cease.
Octoberhas come and gone, and no change
has taken place in the situation.
The time has come when this eX-
change through as strong and influential
committee as can be secured, should inVes-
tigate matters to the very bottom, and see
where the fault lies and who is responsible
for so much cotton being diverted from
our city. Norfolk, Charleston and VII
mington are quoting through rates to for
egn ports from interior points at such
figures, that if the railroad proportion to
the port was maintained, would leave but
Sl.30 to $500 per bale for the ship, when
actually rates being paid for steamers re-
qu.re $3.50 to $3.50 per bale to pay out.
This is the best proof that the rail-
roads are making large cuts in their rates
or paying rebates to the ship brokers az
other ports, thus allowing them to quote
lower ocean rates. The president of the
Southern railway, on the stand before
the railroad commission, but recently tes-
titled that the Southern railway did not
control the management or the policy or
the Central of Georgia. II this be so, does
the Central intend to sit quietly by and
see this city robbed of it's fair and just
proportion of the cotton crop of this sec.
ton? 1t looks very much that way, ana
If the present policy of the road is contin-
ued, we must condemn its officers, if they
have the power as the president of the
Southern railway stated, for not protect
ing the interests of this port.
I'VE therefore strongly recommend thar
committee from this body be appointed
to at once take up the matter, and if nee
essary ask for hearing before the rail-
road commission, and endeavor to have
rates properly adjusted, that this port
may be protected.
I'm this connection, however. we must
NJ 70 bo foo
committee is appointed they can accom-
plish but little unless they have the hearty
cooperation of the members of this body,
who could materially assist matters by
informing them Of irregularities that have
occurred in their own business
In touching upon the condition of the
exchange. President Williamson said
''The report of your finance committee is
a very gratifying one. Starting the year
with an apparent deficit of $517S0, by rigid
economy and careful management this
has been reduced, so that the deficit only
amounts to $lS3.63, which is carried for
ward into the coming year. With this
exception the exchange does not owe one
dollar. Our membership has been slightly
reduced by the loss of two active and one
absent member and two attorneys. In
this connection we would urge the mem
bers to do all in their power to increase
the membership of this body This or
ganization of active business men was in
corporated in the year 1872, and has been
a leading factor in the progress of this
city. II the business community realized
what a large factor the exchange Is in
promoting the general prosperity of Sa-
vannah, more of those who have no direct
interest in cotton matters would give it
their support and thus enable it to in
crease its usefulness.
Especial attention is called to the re-
port of the transportation committee.
This committee is working in harmony
with the Savannah Bureau of Freight
and Transportation, and their commits
sioner is doing, and has done, a great deal
of work, attempting to ferret out the cut
in railroad rates which is diverting cotton
to other ports and doing so much damage
to ours"
The annual election for officers of the
exchange Will take place Monday after
noon. The present officers are: President,
William w. Williamson; vice president
George w. Dwelle; Directors, c. b. Ma
lone, George p. Walker, c. S. Connerat
IL. M. Hutton, Robert Ellington, Henry
Williams, Charles Ellis, Jr., James A
Crisp, W. e. Seabrook; superintendent ].
p. Merihew.