The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-11-10
cOTToN'S TWELVE MONTHS.
ooVDITIONs AS SEEN by SAVANNAH
COTTON EXCHANGE.

Incident williams and superinten-
dcnt Merrihew Review the Crop
aud MnrIets-The Statistics of Two
seasons Comprehensive Georgia
and Alabama Terminal Work APP
nroved-President williams Calls
for Movement Protesting Against
Less water in the River-Exchange
IN Elect officers Next Week.
THE twenty-seventh annual meeting of
,be savannah Cotton Exchange was held
yesterday. The reports of President
Henry T. Williams, Superintendent
p. Merrihew and of the va
rious standing committees were submit
tel This is the first time the annual
meeting has been held at noon, the time
for il in former years having been at Ia
tar hour. The belief of the committee rec
ommending a change that the noon hour
would bring out a larger representation of
the members was shown by the attend
ance, to be correct.
While the present year has so far been
extraordinary in many respects, and es-
necialIy in point Of small receipts at this
period Of the season, the reports show
that there are better prospects for more
favorable conditions In the sale and
handling of cotton. President Williams
read his annual report, which was brief,
but at the same time showed that the af-
fairs of the Exchange were successfully
managed during the year.
LAT the close of the year the number of
members is larger than at this time last
wear" President Williams report says.
land all the offices in the building are I'M
der lease and in good condition, insuring
the payment of current expenses and a
good balance over at the end of the COM
ing year.
During the past season there has been
a decrease of 92, AIS bales of cotton as COM
pared with the receipts of the year before
and this decrease has been due to cOndi-
tons existing throughout the state and not
local.
"Snce my last report the Georgia and
Alabama Railroad Company has commence
ed work on the Hutchinson Island termi-
nails that must be of vast benefit to our
port.
IN conclusion, l desire to call your at
tention TO the necessity of maintaining
deep water from the city to the ocean and
urge upon you when the time comes to
act 10 make every effort TO secure the car
ryng out of such plans as will maintain
the greatest possible depth of water"
The report concludes by thanking the
members for the consideration and courte-
sy shown him during the two years Of his
administration.
Superintendent Merrihew's report takes
up the. statistical part of the years bust
ness. 1t is valuable for its accuracy and
careful preparation. The report says:
THE receipts of this port during the
past season Q,101,454 bales) have been
smaller IN the gross than those of the pre-
vious year by 9O,6O3 bales, or 07.6O per cent.
The net receipts Q,099610 bales) have
been smaller than those of the previous
year by 92.i18 bales or OTIS per cent, and
constituting 09.78 per cent. of the total
crop. as against 1856 per cent. for the year
lS97-9S and C9.70 per cent. for the year
1867.
Our net receipts q,O99,610 bales) in
GUIDES a smaller proportion of actual spot
cotton than 1s97-9S by 3S,1S4 bales. or 1894
per cent
Our percentage of local receipts to the
total net receipts is 1876 per cent, as
against 1888 per cent. for the year 1S97-9S
and 22.70 per cent in 1S96-97.
The record of this years spot sales has
been equal to the local receipts
The following table shows the proper
ton OF coastwise, foreign, and local re-
ccipts to the total gross receipts for the
past three years, viz: