The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-11-06

The thirty-first annual meeting of the
Savannah Cotton Exchange was held
yesterday. The reports of the standing
committees showed the affairs of the
exchange to be in a satisfactory cOndi-
ton.
The report of the Committee on River
and Harbor probably has more general
interest than any of the others for the
reason that it refers to the work being
done for deeper water at Savannah. The
Cotton Exchange is working with the
committees from other organizations
for the success of the movement. The
exchange is vitality interested in deeper
water and while the report Of the COM
mittee on this subject was brief, it is
generally understood that the exchange
will be in the front rank with the 9TH
ers, and no efforts will be spared by it
TO aid in securing the appropriation for
the carrying out of the project.
President WiIIiamsOn's Report.
President VIM. w. Williamson sub
mitted his annual report 1t reviewed
the operations of the exchange for the
year. Under the present regime the
exchange has prospered, and its service
bers and to more thoroughly meet all
requirements for information. New de-
partments have been established, and
every branch of the service brought to
a high and satisfactory standard. The
report follows:
In making my report to the thirty
first annual meeting of this exchange"
President Williamson said, lit is not
necessary for me to go into detail as to
statistics, the superintendent and
Standing Committee having given you
full information regarding their de-
partmepts. II is with great grafica-
ton, however, that l call your atten-
ton to the fact that the receipts of cot
ton in Savannah during the past season
were the largest ever known in its his
tory, and although the present crop is
fully two weeks late, on oct. q, with
the total receipts at the ports nearly
10000 bales smaller than last season,
Savannah on that day had caught up
and passed her receipts of last year,
thus indicating that we shall get our
full share of the present crop. Never
before since the statistics of the crop
have been kept, has so little old crop
cotton been brOugh over to the new
crop as the present year, and this was
caused by the high values paid for cot
ton during the summer. The high prices
caused the planting of an enormous
acreage, out the weather cOndltlOnS all
combined for a late season, and with
one of the earliest killing frosts on rec
ord, the belief is general that we shall
only have a moderate sized crop. The
high prices which have ruled this sea-
son. if maintained. will mean about
S100,000000 increase to the Southern
planters over what they have usually
got for their hard work
The Exchanges Finances.
'While the Finance Committee
shows the exchange to be in excellent
condition with good cash surplus on
hand the expenses exceeded the in
come by $3l0.41. This is more than
accounted for by the increase in tele-
graphic and telephone service, $3.50.
There is now a petition to the board
to still further increase the telegraphic
service, but as stated by the Finance
Committee. this can only be done by
an increase in the annual dues.
with the steady increase in the vol
ume of receipts at this port, the trans
portation lines have been unable to
properly protect from the weather a
large part of the cotton handled by
them, resulting in very heavy claims
for country damage. This, of course,
antagonized the insurance companies,
who thought seriously of raising the
rates on Savannah business. Hap
PLY this has been avoided by all the
railroads during the past summer in