The Savannah morning news., 1903-09-01
WITH TRADE EXCHANGES.
Business Transacted Under Their
Supervision Yearly.

Supervision Yearly.
Savannah's three prominent CONNER
cial exchanges are the Savannah
Cotton Exchange. Savannah Board
of Trade and Chamber of Commerce.
The two former are more active from
commercial standpoint. The Cotton
Exchange exercises control over the
marketing and handling of cotton, and
the Board of Trade exercises a similar
junction over the marketing and ham
ding of turpentine and rosin. The
chamber of Commerce is a young or
ganlzation, which is giving profitable
attention to the industrial and COM
merclal development of the city.
The Savannah Cotton Exchange has
developed wonderfully since its or
ganization. 1t started in unostenta-
tlous quarters, where prices and other
news were posted at intervals, but with
interest in them far less than it is
now. Humorously commenting upon
the early organization of the Cotton
EXchange, one of it's founders said that
II TOOK beer and sandwiches to get
the boys together. 1t is very different
now, when early in the morning BUSH
ness men all through the Bay street
10y NC SCCAl nuIIyIllS TO the
Cotton Exchange to get the early news
from Liverpool, New York New Or
leans, and, other big trading centers.
us membership now represents all the
cotton and freighting trade, and many
other branches of business. such as
naval stores factors, exporters, whole
sale grocers. railroad men and others.
Big Business ON the Exchanges.
Few have a complete conception of
the large volume of business transact
ed on the floor of the Cotton Exchange.
Yearly through its machinery passes
all the cotton transactions On its
moor or over the wires connecting
with the floor of the Exchange is sold
nearly all of the immense foreign
freight room, while stocks and bonds.
one of the latest features to be added
to the Exchange, are dealt in on a
large scale. The Cotton Exchange has
steadily improved, so that now it's
telegraph service is superior. The sta
tistical information on it's boards is
complete, and the facilities for trans
acting business seems to meet all de-
mands. However, each year finds fur
Their Improvements. Maj. w. w. Will
Hanson is president; Mr.. ]. B. Hoist,
vice president, and the board of di-
rectors and various committees IN
clude its ablest members.
Board of Trades Functions.
The Savannah Beard of Trade con-
trolls the marketing of turpentine and
rosin At IL o'clock in the morning
and 4 o'clock in the afternoon the QUO
tation Committee. and the trade gem
orally hold a floor session, and fix the
prices of turpentine and rosin which
is the basis for business throughout
the turpentine belt. The Board of
ira fa ho six IL,
for its members during the year. and
is also giving satisfaction to it's mem
bers. Capt. D. G. Purse is president
of the Board of Trade and Capt c.
L. Chestnut, secretary and superintend-
ent.
The feature of quoting local securities
on the Savannah Cotton Exchange has
proved popular one. This was agi-
tated by the Morning News some
months ago. and it was pointed out
that very large majority of it's mem
bers were interested directly in the
quoting of stocks, which were being
carried in the daily papers. With no
system, such as now exists it was alb
solutely impossible to determine all
the transactions. Now prices are post
ed on the Cotton Exchange on, a con-
spicuous blackboard, and a Stock
and Bond Committee supervises the
quotations. If any member desires to
except to any of the quotations or
knows of a later transaction, he is
privileged, as a member, to call atten-
ton to the error, and have the cor
rect quotation posted This is the plan
suggested and which was adopted by
the Cotton Exchange and put into
execution.
The new Stock and Bond Committee
created and appointed to supervise
these quotations, is composed of John
Flannery, Edward Demere and NAL
com Maclean. The idea is that with
these facilities the local stock and
bond market will develop, and that
Savannah will become the center for
transactions; that much interest will
be aroused in the securities quoted
here, and that they will find more gen.
eral sale. Business has been pretty
dull so far this season. However, this
was due to the fact that nearly all
the stocks offered are good 6 per cent.
payers and holders have no apparent
desire to part with them.