The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-11-07
ERA OF PROSPERITY
FOR SAVANNAH
Says President ]. p. Williams of Cotton
EXchanQo.
Exchange.

, and erecting a United States Marine
Hospital for this district.
A Building Age.
Our local capitalists and those asso-
ciated with them are unquestionably
more on the alert to seize opportunities
as they present themselves. Three mod
ern bank and office buildings will be
erected during the coming year.
large cigar factory is about to be yes-
tablished as the result of the enterpris-
ing spirit displayed by a large number
of our citizens, our small industries
are thriving and gradually broadening
their operations, and the conviction is
forcibly impressed upon us that Savan-
nah has ceased to be a town depend
ent on one or two branches of COM
merce or trade.
1t is rapidly taking it's place as a
city of varied wealth. producing activi-
ties. Such being the case, we must
more than ever feel the advisability,
indeed, the absolute necessity, of an
organization devoted not to one espe-
cial branch of our business life, but
based on broad principles, and design
ed to promote and protect the inter-
ests of each and every business by
protecting and promoting the general
interests OF the city.
Savannah to-day needs, and in the
future Will need more than ever, a bu-
reau of protection and publicity, act
ing not in opposition to the Cotton
Exchange and the Board of Trade, but
in hearty sympathy and active union
with them. The functions Of such a
body should not be confined to mere
questions of freights and discrimina-
tions, but should embrace in their
scope the grasping of every oppor-
tunity that promises to develop Sa-
vannah as leading business center of
the South
1t should invite capital: it should
seek to open new fields of commerce
and of industry. In order to make 1t
effective it should have ample means
at its command to secure the services
of well equipped men, capable of I'M
derstanding new situations promptly
and of successfully meeting every
emergency that may arise.
To Foster Trade.
This is an age of united effort, and
the spirit of the times must possess
Savannah. A bureau of this charac-
ter, under whatever name. sedulously
studying our wants and ceaselessly
| exploiting our possibilities, would re-
pay. SAVANNAH, many fold the expenses
| attached to it,. With the arena of
American trade broadening every year,
with closer relations with the Eastern
countries. as well as with the West
Indian Islapds and the peoples of
South America, Savannah, it appears
TO me, occupies position where all it
needs is better acquaintance with the
opportunities before it, a fuller COM
prehension of its superbly advanta-
geous position. to induce it's men of
brains and push to seize a full share
of what must develop into a rich and
ever increasing traffic. Cuba and
Porto Rico especially offers inviting
fields for our enterprise.
Defends Cotton Exchange.
1t has lately been intimated that the
Savannah Cotton Exchange is too mar
row in it's sphere, too hide bound in its
tendencies, to exert itself in such a
movement. Such an impression un-
doubleday arises from ignorance of the
true spirit of the members of this or
ganization. While the cotton business
of Savannah naturally, and quite prop
erly, absorbs their time and energies
to a large extent, do not believe that
they are lacking in public spirit, or
that they are Indifferent to the growth
and prosperity of this city. They are
they must remain such in it's future
development. They are fully awake
to the needs of the hour. and have
never yet been laggards in guarding
what is the most important branch of
Savannah's commerce.
Only recently your efficient transpor-
tation committee, jealousy protecting
the interests of this port, succeeded
in removing obstacles under which
nd Ill
opened the way for a revival of the
factorage business and a nearer APP
preach to its old time Importance. With
no determinations accorded shippers
from initial points to the places of
consumption in the North our factors
and brokers will be enabled to fill or
ders in competition with the interior
buyers.
Increase in spot Cotton.
During the past year there was an.
Increase of Is per cent. In the amount
I of spot cotton handled here. Instead
J OF sporadic sales there Is now a prom
Use OF larger spot receipts with conse-
/ quent heavier transactions, and a dis
appearance of the existing abnormal
condition under which the small inte
rior markets exercise disproportion-
ate influence
savannah should resume Its former
position in fixing and regulating the
minor interior markets Another ef
feet of the localizing of cotton would
be decrease in reclamations. 1t is
better Tor all concerned to have cotton
sold on an open market The true ha
sis of all values is a sale under free
ana unrestricted competition. The
concentration of commodities at a CEN
tral market insures an equitable value