The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-11-05
COTTON CROPS FIGURES.
PRESIDENT DWELLE's ANNUAL RE-
PORT TO THE EXCHANGE.


Last Year and Is Already Over
100000 Bales Ahead of Last Year
with the New CrOp-SavannRh's
Receipts So Far IS Per Cent. of the
Receipts at All POrts-The In
creased Shipping and Railroad Fa-
ciIities of the Port Dwe1t Upon.
Free Quarantine ACCOMMODATIONS
eraI Business Conditions.
The annual meeting of the Savannah
Cotton Exchange was held yesterday af-
ternoon. President George w. Dwelle sub
mitted his annual report, dealing almost
entirely with matters relating to the cot
ton interests.
The meeting was on the floor of the ex-
change, and was largely attended. After
the reports of committees had been
read President Dwelle referred to the cot
ton statistics of the port during the last
year.
"Our net receipts" he said amounted
70 1853 bales constituting $40 per cent.
of the total crop of 18ss-97. as against 1898
per cent. for the year 1856 1t is to be
remarked in this connection" he added.
that this does not include 46,026 bales
which passed through this port on through
bills of lading, and credited to other ports.
Our receipts include a larger proportion
of local cotton than in 1886 by 1897
/ bales, or III per cent. increase.
"Our gross receipts aggregate S46,591
bales, an increase of 1908 bales over the
year ending Aug 81, 1886. This, however.
was not our just or full proportion of the
increased yield, yet Savannah holds her
own as the third largest cotton market
of the United States and the first At
lantic port.
For the year ending Aug. 81, 1897, the
highest price attained here Cor middling
cotton was 1916. the lowest s TIC, the
average value of upland cotton was $50. 10
per bale, against $4O.1S per bale for year
ending Aug. 81, 1896"
In reference to the sea island crop, Mr..
DweLe said the total crop of sea island
cotton for 1867 was dO9,516 bags, the
largest ever grown, exceeding that of 1896
| SO by 1899 bags, of this Savannah's re-
| ceipts were 81 ,056 bags or S1.20 per cent. of
| the entire crop, thus showing Savannah
TO be pre-eminently the leading sea island
cotton market of the world. OF the S4O56
bags Savannah's receipts, Georgia fur
. UlSnGU, l4SZ per CeHt., lOtiudt Et.5J PEI
| cent, and South Carolina 0009 per cent.
THE average value of sea island cotton
| for the year ending Aug. 81, 1897, was S59.76
! per bag, against 1888 for the year pre-
vious The range of values were the low
| est in the history of the trade and being
below the expensive cost Of production and
| preparation, the cultivation of sea island
cotton was, this season, practically aban-
| doned over a considerable territory ada
| cent west of us, and the acreage largely
| reduced south of us, upland cotton being
| cultivated instead. Under these condi-
tons, and adverse crop reports; we cannot
| reasonably expect large yield OF sea IS
land cotton-probably not exceeding 10000
| bags-for the entire crop of 1898.
Referring to the report of the committee
on transportation, Mr.. Dwelle remarked
that many thousands of bales of cotton
which should have come to this port by
right of geographical position, have gone
elsewhere in the last year or two causing
much dissatisfaction and prompted the APP
pointment at the last annual meeting of
the exchange, of the committee on diver
sion of cotton. This committee" he said,
latter investigation, reported that cotton
was being diverted to Norfolk by railroads
feeding in the territory tributary to this
port, cutting rates IA cents per 100 pounds
less than their published rates to Norfolk,
or cents per 100 pounds less than to Sa-
vannah. This being true; the logical as
SUMPTION IS there must NSNGSSetA ny EAiob a
wide margin in hauling cotton at current
published rates to enable them to be cut
profitably to this extent for the purpose
of diVerting cotton from it's natural cham
nels. Taking this view of the matter, the
board of directors, after mature delibera-
ton, and with no wish to antagoniZe
friendly railroads, petitioued the railroad
commission of this state, in July of this
year, for a reduction of % per cent in cot
ton rates. The exchange was ably repre-
sented by our indefatigable commissioner
of the Savannah Freight Bureau, who
made a most conclusive and unrefutable
argument in favor of the reduction, which,
as you are aware was not granted"
| In reference to the new crop the presi-
dent of the exchange said. TT may rot
be amiss to state in this connection, that
while the total receipts of the new crop
to date, at all ports, show decrease of
05.52 per cent compared with last year,
Savannah has received 1902 $50 bales in ex-
cess of that of the same date one year
ago, or an increase of 1875 per cent. Our
receipts constitute about is per cent of the
new crop received al all ports to date, this
is certainly very gratifying, and argues
well for the commercial interests of our
city.
THE new crop has been marketed very
freely, Notwithstanding the low range of
values. the producer seems to be inbued
with but one idea which is to dispose of
quently upland cotton has passed out of
first hands about as fast as received, thus
causing a continued easy money market
and the writing of less insurance on fac
tors cotton than is usually the case.
THE clearing house returns show an
aggregate for the year of $125, TAG, 565, as
against $l26,603 594 for 1S95-96, the discrep-
ancy doubtless, being caused to great
extent by the low price of our chief com
modify.
THE Georgia Export and Import Com
pany has added their fleet of vessels to
the usual line of tramp" steamships
brought TO this port thus affording ample
tonnage for all demands. Our ocean rates
compare favorably with other South At
lantic ports, to this we may, perhaps at
tribute, largely, our increased proportion
of receipts"
Referring to the railroad and steamship
wharf improvements Mr.. DweHe said
1--WE are pleased to note the extensive
improvements being made by the Central
of Georgia railway to their indispensable
wharf property, for the better handling of