The Savannah morning news., 1903-06-07
DIRECT WIRES TO LEADING
TRADE EXCHANGES.
To BE Established in Savannah by
Ware e. Leland.

To Be Established in Savannah by
Ware e. Leland.
Savannah will soon be connected by
direct wires with the leading trade
exchanges Of the country, which will
put the city in the closest possible
touch with what is going on at the big
business centers. While the innova-
ton will not be entirely new to Sa-
vannah, this will mark the beginning
of the most extensive plan of direct
Geographic connection yet installed in
this section.
The Ware & Leland wire Is the one
to be connected up here within the
next ten days. The wire will be leased
by third person from a number now
negotiating for the. service. The bust
ness secured here in stocks cotton and
grain will go either to New York, New
Orleans or Chicago, according to the
wishes of the traders. The Chicago
business in grain and provisions will be
executed by Ware & Leland, and the
New York stock business will also be
executed on the New York exchanges
by this firm. The New York cotton
business will be executed by Charles
w. Lee & Co., and the New Orleans
orders by Gilbert & Clay. All of these
firms are members of the exchanges
on which they solicit business, and
the orders sent in will be properly
executed in accordance with the rules
governing transactions. Ware & Lee
land belong to the Chicago Board of
Trade, New York Cotton Exchange,
New York Coffee Exchange. New Or
leans Cotton Exchange, st. Louis Mer-
chants Exchange and the Milwaukee
Chamber of Commerce. Charles w.
Lee & Co. and Gilbert & Clay also hold
extensive memberships in the ex-
changes.
Mr. NJ D. Burnley, representing
Ware & Leland has been in Savannah
several days, arranging for the estab-
lishment of the new service. He has
of the wire. but he gives the assur-
ance that 1t will be a thoroughly re-
sponsible person. While not yet de-
cided about the location the chances
are the exchange will be located some
where along the East Bay in the
neighborhood of the Cotton Exchange.
Mr.. Burnley believes that there is a
demand for a direct wire connecting
with all the leading exchanges and
offering to the cotton and kindred
trades facilities that will assure them
OF the prompt execution of their bus
mess upon the exchanges and in ac-
cofdance with the rules controlling
them.
The system of direct wires has of
late lead in the Geographic connection
of the trading centers with all other
parts of the country. For prompt
ness this service leads all others for
the reason that there is nothing to in
terfere with it. the business being ex-
clusively for that intended to go over
them. From New York to New Or
leans is direct copper wire which
affords the quickest telegrap hic serv-
ice in the world for that distance. ont
OF New Orleans there is also a wire d.
rect to Chicago, which is controlled by
Ware & Leland. The Savannah serv-
ice is to be in line with what il is else
where, and no pains will be spared to
make II profitable and attractive.
This viii mean a great deal for the
bushes people here" said Mr.. Burn
ley. "All the quotations will be posted
on our boards. News Affecting
the markets will also be quick.
ly sent out. For instance, should
anything of an important mar
ket bearing happen IL would be re-
ceived here few seconds after II was
known on any OF these exchanges.
Ana when the market rises or fails
some sort OF explanation will be
promptly sent here giving the reported
reasons for the movement With the
facilities We havs 70 ofter we ssel as