The Savannah morning news., 1901-08-04
LOWER PRESS LEASE
ADJACENT PROPERTY TO
"" Ant SYSTEM AND s., IF. g w.
ROAD TAKES HOLD SEPT.
uoIDINGs OF THE UNITED
IA' ,nRAULIC COTTON PRESS co.

r.e New Press to Be Ready Ao"u'
=. I5-Agent of the Builder 10
savannah TO-day-Meeting
.,e stockholders of the Cotton
company to Be Held Aug.
uotify Action of Directors.
paiIroad May Build Warehouses
- JuIian Street and Make
T,em Its Terminal for Cotton.
MT Lower Cotton Press, owned by
Ave United Hydraulic Cotton Press Co..
W all the company's holdings on the
.tn side of Bay street, east, about
-ao faet of wharf property extending
W, What is known as the Lamar
- 60 n Gordon's wharf. has been
,.asa6 to the Plant System; and all
nat property of the United Hydraulic
Cotton Press Co. to the south OF Bay
.oo+ including the warehouses on st.
1,,,ian street, has been leased to the
savannah. Florida and Western Rail-
way.
The lease, to become effective Sept.
, was signed in New York Tuesday by
President r. G. Erwin in behalf of the
roi1roads. and by Mr.. James M. Bar
nard president of the United Hydraulic
Cation Press Co. This act on his part,
bowever. is subject to ratification by
tho stockholders of the concern, who
will have a meeting for that purpose
Of Mr.. Barnard's office on Aug. 10. The
lease of the presses is for period of
five years, with the option of increas-
ing it to ten, while the warehouses are
leased for twenty-five years.
The question of these leases has been
under the consideration of the Board
of Directors of the Cotton Press Com
many for some time, but it was on only
last Tuesday that the matter was
fnallv settled, and the leases signed
on terms that it is believed will be en-
trely satisfactory to the stockholders.
The lease of the presses includes
that of the new presses now being
constructed in Chicago, which, under
contract, should be ready for use Sept.
Is, and which will take the place of
the press wrecked by an accident last
December. This press which will cost
$50 900, will have a capacity of 100 bales
an hour with a density of at least 80
changing the character of the package
or damaging the fiber. The press now
in use has the same capacity per hour,
but with a density of only 20 to 25
pounds to the cubic foot. The style of
bale is the square"
Mr. w. w. Bierce, of w. w. Bierce.
Limited. who are building the new
press, will be in Savannah to-day to
begin the work preliminary to getting
the machinery in place.
These leases taken in connection
with those of the Upper Cotton Press
and adjacent property leased to the
G. & A. road disposes of all of the
property of the United Hydraulic Cot
ton Press Co.
In discussing the matter generally
last night Mr.. Barnard said that the
directors of the company realize that
the day of individual congresses is
past and that the only successful
way of conducting the business
is now in connection with the railway
system that has the handling of the
cotton. 1t is in the line of concentration
Of business, allows of greater economy
in the handling of the cotton and con-
sequently lessons the expenses of the
producer
The lease of the st. Julian street
property includes that of a lot con-
tanning about 10 acres on which it is
probable that the railway will build
warehouses with the object of making
that place the terminal of it's cotton
business
The lease of the Lower Press prop
erty gives the Plant System increased
terminal facilities and wharf front be-
low the citr.