The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-09-06

The trade year Of 1898 opened in doubt
and uncertainty, with dark and mutter-
ing war clouds lowering over Cuba. In
consequence Trade ana Commerce sailed
close reefed. The war storm has now
broken and passed. and the blue skies are
once more smiling.
When the transactions Of the year are
passed over in review the almost surpris-
ing and the very gratifying truth appears
that Savannah not only was not hurt by
the war disturbances, but as matter of
fact made very large gains in her BUSH
ness. Indeed, it was a record breaking
year in some particulars In cotton re-
ceipts, for instance. the hlgh-water mark
was reached and passed, and a new notch
was cut at approximately 10000 bales.
In lumber there was an increase Of most
encouraging proportions and the naval
stores business was such as TO make the
dealers feel very we'll content with their
transactions.
A new record was made in the maritime
tonnage Of the port There were a great
er number of arrivals of vessels than for
many years, and the tonnage OF the craft
aggregated a figure never before reached
in the history of the city. One thousand
and five commerce carrying vessels arriv-
ed at Savannah during the year ending
Aug 81, against 9H arrivals in 1S97-9s and
their tonnage aggregated l1S7,6s2 tons,
against 1890, 799 in 1s96-97. A number Of
these craft were Of deep draught, going
to sea from the city drawing % to "a feet
Of water.
The jobbing trade in dry goods, notions.
boots and shoes, was not as large as has
been the case in preceding years, but the
results We're Of a very satisfactory char
acter. Large orders were not sought. It
was considered safer, in view Of the I'M
settled war situation during greater part
of the year-neary the whole Of it in
tactic hold transactions down to the
strict basis of demand and supply. New
ertheless a fair volume of business was
done in these lines. Collections are report
ed to have been almost surprisingly good.
Few accounts were carried over into the
new business year and at the end Of the
season the country merchants found them
selves with first rate credit with their
ducing classes being enhanced, In com
parison with corresponding seasons Of re-
Gently preceding years, postponed orders
are now being received by the wholesalers
and promptly filed
In groceries, provisions and liquors there
was during the year what may be called
normal movement. There were no
changes worthy of note in the savel of
prices, and the demand was about what
1t was expected to be. Orders were re-
ceived from regular customers with regu-
larity. and payments were made prompt
ly An increase is noted in the Florida
business. That section is recovering from
the backset it received from the great
freeze, when the orange trees were all
killed. and then there was the fact that
the presence of large numbers of soldiers
and their friends in Florida during a
part Of the period under consideration,
had its effect upon the amount Of staple
and fancy groceries and liquors sent to
that state.
Taken Altogether, the city has more
than got back the decline In trade that
was noted al the end Of the preceding
year. The comparative statement shows
an increase of several millions of dollars
over 1869 with the tendency still up
ward and onward.
Probably the most concise and conclu-
sive evidence Of the course and condition
son of bank clearances, and an examina-
ton Of the financial situation. The state
ments which follow in the comparative
tables show that the clearances for the
year just ended amounted to several mil
lions Of dollars more than for the twelve
months preceding. All Of that represents
an increased amount of business trans
acted. of course-and il takes a consid-
cradle volume of trade to foot up a mill
lon dollars. The review shows that the
financial institutions of the city have had
good year and that they are in fine
shape for the season now on. One thing
that has been especially brought out dur
ing the year is the fact that the banks
have not only funds to take care of their
clients but that they have money TO
spare. An offer was recently made to the
state by Savannah banks to loan il a large
sum at a low rate of interest. Heretofore
when considerable sums of money were
wanted il has been deemed necessary to
apply at one of the Northern financial
centers for it. Now II has been shown
that 1t is not necessary to go away for
money; it may be had at home
Another incontestible evidence of better
times is the fact that almost all kinds
Of high class securities have materially
advanced in comparison with the ruling
prices at the time of the Morning News
last preceding trade review. From the
top to the bottom of the list of Georgia
state, railroad and city bonds there has
been marked progress towards a higher
level of prices This reflects a prosperous
condition of the people, and through them.
Of the railroads and the municipalities:
and when that condition prevails, the
chief seaport Of the state is bound to be
benefited accordingly.
IL ~ probably risking nothing to say
that the general business OF the city and