The Savannah morning news., 1903-11-11

VIM. V. Davis, secretary and treas
urer of the Savannah Trust Company,
who has just returned from the bank
ers convention at San Francisco talks
interestingly of his trip. Mr.. Davis
went with a party of Ohio bankers
on a special that left Cleveland, and
was one of the most magnificently APP
pointed trains of the many that went
West with the bankers. He found the
Ohioans interested in the South by the
many inquiries they made regarding
business here.
The West is promising and fast de-
Veloping," said Mr.. Davis. 1T is not
coming, however, for it is already here.
From every standpoint it has progress
ed and is still progressing. There
is no comparison with the Old West
in pioneer days, for an entirely new
element have apparently taken things
in hand and have brought that sec
ton to figure prominently in business
and finance all over the country. This
year will be no exception to the big
business done in the West, for the
understanding is that all their crops
are good and that much money will
be made.
What struck me forcibly at the
different towns where our train stop
ped, was the enthusiasm people show
ed in their own towns. They whoop-
ed them up, and there seemed to be
no lack of energy in doing it. Meth
er was there any timidity about it.
The impression left upon US was con-
sequently that they are a hustling,
thriving people, giving attention to the
development of all resources that mean
increased wealth to them. At Los
Angeles the Chamber of Commerce
had on exhibition a sample of every
product of their manufactures. This
gave visitors a quick idea of what the
people make out there.
From a banking standpoint the
West is fast coming into prominence.
Their bankers are progressive men, who
are adopting modern methods in the
acquisition of business. They leave
out 'fogyism.' The markers of San
Francisco were particularly courteous
to visitors, and showed them every
possible attention considering the very
large crowd they were expected to en-
tertain. heard no complaint from any
one of lack of attention"
The New Orleans people sent word
to Savannah yesterday to pay no heed
to receipts, but close your eyes and
buy" This was passed around the
exchange quite freely, and some seem
to the advice. 1t is the plunger's mot
to, pure and simple. All kinds of ad-
vice is being received now, and brok-
ers are keeping the wires busy send
ing specials to their correspondents
suggesting what to do. The DISPOSE
ton is to pick up cotton on the de-
clines, and with recessions new buying
power is uncovered, so that the lower
the market drops the stronger it be-
comes. Reports are that large orders
have been placed to buy on scale
down. With confidence of this sort
in the market local traders incline to
the belief that whatever comes re-
cessions will only be temporary so
long as the public is willing to take
free hand in the speculation.
Mr.. j. ]. O'Neill, of Chestnut e.
ONeill, naval stores factors, sees no
reason for any material drop in tur-
pentine soon. On the contrary, the
statistical position is strong and the
market has all the advantages with it,
This firm has for a long time been
the friends of the Savannah market,
and have frequently taken prominent
hand in advocating the shipment of
naval stores here to market. From
their standpoint Savannah has all the
natural advantages, the exporters to
compete for the stuff and consequent
ly the pest means OF securing the best
prices for producers.
Mr.. C. A. ShearsOn, ex-president of
the Savannah Cotton Exchange, and
now member of the big New York
stock and bond brokerage firm of
Shearson, Hammill & Co., is among
the New Workers. frequently heard from
by local cotton men. Mr.. Shearson
has a wide acquaintance, not only in
Savannah, but throughout the interior
by reason of the large business he per-
sonally conducted for many years here,
and still conducts through others The
good judgment shown by him in fig
uring on cotton production and follow
ing the markets in the past makes his
Judgment as to present conditions
sought, and Importance is therefore
attached to the occasional messages
he sends out.
Nnra q IaIaudsS Cation Latter