The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-11-07

The thirtieth annual meeting of the
Savannah Cotton Exchange yesterday
brought reports that show the last
cotton season to have been one of the
most successful in the history of the
port. Crowded with events that mean
much for the future of the port the
year was one that marked the begin
ming of a broader development of do
nestle and foreign trade, hence was of
great interest to business people gem
orally.
President ]. P. Williams called the
meeting to order with all seats filled.
There were representatives of nearly
every large business house on the Bay,
representing cotton factors, brokers,
exporters, naval stores handlers. bank
ers, lumber exporters and others in
terested in local trade. Special inter-
est attaches to meeting so
representative of the city's business
men for the reason that Savannah has
made rapid strides during recent years
in the advancement of her trade,
which has placed the city higher
IL
So pronounced has the improvement of
the past year been that the attention
of other ports has been attracted to
the work done, and business men In
spired to stronger efforts in further
raising the city's commercial impor-
lance.
President Williams read what
was conceded to be a complete and
valuable trade document. 1t required
ri q hal m t,,4 &c
thoroughness and attractive presenta-
ton of the subjects discussed held the
attention of all. The various commit
tees We're complimented on their re-
ports, after a statement of the finan-
cial condition of the Exchange show
ing its surplus to be 50. 400. Mr.. Will
liams' report is as follows:
A Year of Prosperity.
The year has been for Savannah one
of progress and prosperity. We are
entering on a twelve months that
promise to be productive of unusual
improvements in the city. of broad ex-
pansion in our commerce, and of an
extension of our trade and Industries
along new and profitable lines Bright
as the past has been, the future seems
| to hold in store richer fruits for our
men of enterprise and action.
| Everything encourages US to the
| opinion that Savannah is at the begin
ming of an era of unprecedented i'm
| pulse. Confidence in our city and its
| prospects is mistaken, and there are
signs of that hearty cooperation
among our men of affairs which has
BEEN the one thing needed to insure
our reaping the full benefits. of the
many advantages we already possess
or can secure by united action.
Chief Port of South Atlantic.
During the season recently ended
Savannah more than maintained it's
supremacy as the chief port of the
South Atlantic. Not only as regards
cotton, with which we are all we'll
acquainted, but in the handling of
other products of this section it east
ly distanced all competitors. Its ex-
ports of phosphate rock show large
increases, lumber, despite the greater
distances from the sources of supply,
passed through here in the same enor-
nous volume; naval stores were only
diminished through decreased pro-
duction, and with the various other
commodities that go to make up a
large proportion of our coastwise ship
ments, pig iron, manufactured cotton,
fruits, vegetables, etc, the statements
of the steamship companies show an
one that must crafty all interested
in the continuance of Savannah's pre-
eminent position as a port. To New
York, Philadelphia and Baltimore, the
volume of freights has been exceed
ingly heavy, and the line to Boston,
discontinued some time ago, has been
resumed, much to the advantage of
shippers.
Increase I'm Business.
Local building operations have been
on quite an extensive scale, the total
bank clearings were STA, 406,56S against
$2lS, Ala $40 for 10000 the fall
and to the modes of handling certain
accounts of cotton merchants and brok
ers with the banks. There has real
ly been a very large increase in the
volume of legitimate banking business,
as the deposits of the banks of Savan-
nah have largely increased and the
volume of business handled by them for
interior banks is much larger than 1t
has ever been in the history of Savan-
nah banking.
There has been an absence of bust
ness embarrassments. the health of the
city has continued good, and viewing
the year from any standpoint we can
| find no reason other than for self-con-
graduation. Important movements
were initiated during the period under
review, which are calculated to mate
rally promote Savannahs interests.
Chief among them were the organiza-
ton of trust company with ample
capital, the charterintg of a corpora
ton for the building of dry dock ca
pable of accommodating the largest
vessels visiting this and neighboring
ports, and inaugural steps toward es-
tablishing an extensive coaling station