The morning news., 1897-06-06


nected with the company, having assigned
their interests to President Conner. For
reasons not connected with the status of
the present company Mr.. Johnston desired
to withdraw from it, though he wrote Mr..
Conner that if it was his desire he would
continue with it. Mr.. Conner, however,
relieved him and the contract so far as
he was concerned was dissolved
Gen. G. NJ. Sorrel will be the chies exec
utlve officer of the new company, having
resigned his office with the Ocean Steam
ship Company in New York to come to
Savannah and take that position Gen.
Sorrel is well known in the steamship
world through his long connection with
the Ocean Steamship Company, and will
undoubtedly make an excellent Official m
this new capacity.
1t Is not determined as yet who will be
the stockholders of the Georgia Export
and Import Company, and of course moth
ing has been decided as to its officers OK
cept i'm The case of Gen. Sorrel, who will
be in charge of it's operations. Arrange
ments in this direction will undoubtedly
be made within a short time, however, on
account of the fact that 1t is not many
weeks now before the new comp NY VIII
be ready to launch into business
II is probable that the company will be
operated in connection with the Central of
Georgia Railway Company, or the Ocean
Steamship Company, though these are de-
tails which have not been fully determine
ed upon. One thing, however, every rail-
road entering Savannah will be given an
opportunity to take an interest in the COM
pary and its operations. Those in charge
of it state that IL will work, not for the
good of one, but for the good of all and
for the advancement of the interests of the
port. 1t would seem to be desirable, there
fore. that all the railroads entering Sa-
vannah should join issues in such an un-
dertaking, and they no doubt now have
the matter under consideration. What
they determine to do in the matter how
ever, will probably not be definitely known
until the company is formally organized
and ready for business.
The history of the situation. which led
to the chartering of the Georgia Export
and Import Company, was fully given in
the Morning News at the time the charter
was obtained. 1t is well known that at
that time Savannahs receipts of cotton
had fallen Off considerably. and there
was much discussion as to the cause of n
and the remedies needed OF course. there
were two sides to the question, which final
ly led TO quite an investigation on the part
or the cotton exchange. and a report the
substance of which will be well remem-
bered.
There was no doubt that ocean rates on
cotton from Savannah to foreign norris
were considerably higher in proportion 70
the natural advantages of the port than
they were from other South Atlantic norris
The ship brokers claimed that this was
due TO the fact that rebates were given
by the railroads at these other ports. and
so the discussion went on but in the mean
time, there was no improvement I'm ocean
rates from Savannah in COMPARISON with
| those from the other ports
lt was about the time this discussion
came up, the railroads having lost con
siderable In freight rates through the con
sequent diversion Of cotton, that the pIan
tor the formation OF the Georgia Export
anu import Company, conceived a wear
beiore' was crystalized and shortly af-
terward the charter was secured. IL was
| expected IL would begin business last sea
| son, Dut the arrangements were necessa-
| rliy delayed from time to time and the
matter went over to the present season
Ihe object OF the new company is to
| charter ships TO carry cotton and other
cargoes from Savannah TO any foreien
! port 10 which such cargoes NAV he or
! terlng. ana to AFFORD such ocean rates from,
| THIS port as VIII put it on "A fair and
! equitable basis with competing ports. IL
! Is desired TO maintain n schedule OF rates
which shall bear the same relation TO the
| rates from other ports bear TO their natu-
raj advantages. and Il is the determination
| OF the new company to see that this done
IL may be that the entrance OF this new
! company into the field will cause an ocean
rate war at the start. but that Is To he
| expected for Il would be natural IN case
the rates, IN accordance with the an
! nounced policy OF the new companv
should be lower than those offered by the
! shpbrokcrs here What would be the 81.
| fects OF such a contest OF course cannot
be discussed now nor is it altogether cor
! tain that there would be one though A.
II one OF the probabilities
Gen, Sorrel Will be In Savannah this
week, and the work OF formally orpanlylng
| the new company will be taken up M once
| IL Is necessary TO get into the field early
! for Il is often the case that many shin
charters are made during the summer
months before the cotton season actively
/ opens.
| -e-@~e@
/ Tho pnnNdfupa af fh. ,.a..f. A..