The Savannah morning news., 1903-04-08

Besides sacting considerable
business the members OF the savanna h
Board Of Trade at noon yesterday
heard the annual address Of Capt. D.
G. Purse The meeting was held in the
Board of Trade building. It was an
nounced that the annual election Of
officers and directors viii take place
to-day.
A number Of reports were made by
various standing committees, all
showing that the work assigned had
been diligently prosecuted during the
year The board went on record as
indorsing Secretary Hester Of the New
Orleans Cotton Exchange for a po-
sition on the Panama Canal COmmis-
sion. An invitation received by the
board 10 attend the meeting Of the
state T P. a. convention was
accepted. The reports showed that
the Board Of Trade now has eighty
seven active members, an increase of
eight over the last report, The inan-
ciaI report showed that the board had
a balance Of $2.S47.73.
+ Z
with attention and interest and at the
close Mr.. r. c. Battey moved that it
be adopted; Capt. Henry Blum, sec
onded the motion and il was unani-
mously adopted.
President Purses Address.
President Purses address was an in
teresting document, we'll prepared and
of considerable length. The tone was
particularly cheerful, although not
falling TO note the fact that the naval
stores business had decreased The
splendid increase in the cotton bust
ness was made an item Of special con-
graduation and stress was laid upon
the need of small industries. He al
luded to the Industrial Department
which is now an important branch
Of every RAILROAD organization and
pointed TO this field as most likely TO
bring about great results. The multi
plication Of railroads and the conse-
Quent ability Of business men. inland
as we'll as those at the ports. their
getting rates and terms as cheap, and
being able to buy in quantities TO suit
in the great markets of the country,
all meant that the business men Of Sa-
vannah must meet this competition.
Naval stores business.
In reference 10 the decrease in the
naval stores business the report said.
That an evolution is taking place in
the naval stores trade of this port is
Enthusiastically evidence by the lesser
receipts OF the year. That the falling
off in receipts are largely due TO ex-
haustiOn Of nearby territory is equally
true, but that this cause is combina-
ton with other depressing conditions
have not intensified their adverse
movement. it must be taken that our
superior market and splendid freight
ing facilities have more than counter
balanced natural influences and con-
tinue to-day as potential in RESTRAINT
of greater diversion. The evolution
cannot therefore mean for US the
almost complete eXtinguishment of
the trade. as has happened to ports TO
the north of US, Notwithstanding the
ominous clouds that have gathered
upon tSe horizon of this trade within
the just closed year. 1t is yet far
from a determined problem what these
poTtentious threatening enfOld for US.
A thoroughly grounded traffic. safe
guarded by every facility for rapid
and economical dispatch, cannot be
wren Mled from its mornings by every
wandering wind This is our hope
It has been the anchor of safety to
greater ports in greater crisis. It 10
our strength to-day and all signs point
TO a reaction that will soon make this
doubly assured,
Cotton Business Increase.
The following figures were given of