The Montgomery advertiser., 1904-10-27
REPORT OF BURGESS
ssRD ANNUAL MEETING OF MOBILE
 COTTON EXCHANGE.
President Pays Tribute to His sreoe- cessor n once, Colonel Huger, rI
 and Reviews Work of a@ The Year.
Advertiser Bureau.

| Ns5 Mobile, Oct. SV-.s | At the thirty-third annual meeting
 of the Cotton Exchange at noon to- day. Colonel D. R. Burgess. presi- l dent of the Exchange, delivered ms annual report, as follows:
 | This Is the thirty-third annual meet | ing of the Exchange. Since the last annual meeting, I became your presi- dent by reason of the death or our
 late President. Colonel Huger. In his
 death the Exchange sustained an IT, reparabie loss. He had been identi- fled with the Exchange since its or ganization, and was in all respects one of its warmest and most earnest sup porters. He was a leader in every movement to place the dealings Of the Exchange and its members on tho highest plane. His advice was sound, and sought by all, and. by reason of
 his kind. genial spirit, was endeared to every members of the Exchange. During the year another prominent and influential member passed away Mir. Louis Touart He had served as treasurer of the Exchange for num- Der of years. and discharged every duty devoiving upon him with intelli- gence and fidelity. He was one of the pioneers in the cotton business of Mobile, and his sterling integrity and 6OOu Ju08Hout "cIo by all.
 Tn the death of these two prominent men, the Exchange and the communi- ty have sustained a great loss.
 The report of your committees win give you in detail the dealings of the Exchange for the past year.
 Tn reviewing the cotton buisness of the port for the year just ending, 1t Is with satisfaction that note grad
 ual increase of receipts during the
 past four years. The years gross re- cefpts show an increase of fifty-thres per cent over those of 190o-1; an tfl- l crease of forty per cent in net re- ceipts, or cotton factors receipts, during the same period. It is with a feeling of pardonable pride that this great increase in receipts is noted. ev- idencing as it does. the excellent fa- cflities which our market offers to shippers and buyers alike.
 The work of constructing the Mo- bile. Jackson and Kansas City Rail- road. since our last annual meeting. has so far progressed as to put Mo- bile in direct touch with a cotton pro. ducing section of the State of Mis- sissippi, with which our trade for merly had no relations. and in conse- quence, we are receiving cotton from an entirely new territory. It Is to be hoped that our merchants and fsc- tors will appreciate the new faciii- ties thus afforded and avail of them with their characteristic energy and promptness.
 Our warehouse and compress facili- ties are unsurpassed in extent and ex- cellence-both in, equipment and oper. ation. Cotton is handled with care and dispatch, and is perfectly protec- ted from the weather. and from the danger of country damage" Ca dam ger so general in the case of cotton shipments from interior markets.) :.
 The character of our merchants and the high standard of our Exchange are recognized everywhere, and insure fair dealing to all. These clements insure fair dealing. not only to the foreign buyer. who are assured that engas ements will be faithfully met. regardless of market fluctuations.
 In addition to this. we have most ample banking facilities. and a cotton market as good as the best.
 I feel sure that the time is not far distant when cotton will, more and more. seek a market at the out ports. from which this port will reap its fair share of advantage.
 The increase in the cotton business at this poUt has been accomplished, not
 "ItHStdhuAuS tHo great ana many dtS- advantages working against us The railroads have discriminated against
 us in freight rates, and while the Ex- change has labored earnestly and ener. getically to remedy this evil, 1t has
 been with only partial success. would earnestly recommend that the
 Exchange combine with the other bust
 ness interests of the city for the pur- pose of organizing a Bureau of Trans portation. This bureau, when organ
 tzed, should be placed in the control of first-class man. with thorough
 knowledge of freight rates. whenever 1t is ascertained that Mobile Is being
 discriminated against, in the matter of freight rates. 1t should be the busi-
 ness and duty of this bureau to take it
 up with the railroad authorities, and If the complaint Is not remedied, It
 should be presented to the Railroad Commission. With the business inter
 ests of Mobile organized for this .pur-
 pose, feel confident that we will re-
 ceive fair treatment from the railroads | operated into Mobile. Complaints of | discrimination in rates are not limited
 to the cotton trade but 1t affects all classes of our business, and we should | at once organize for mutual protec- | ton.
 Our city is now passing through the
 most prosperous period of It's history. At no time since the Civil War has the | outlook for business been more encour- aging. Our population is increasing | rapidly: real estate values have appre- ciated enormously, and business of every class improved beyond the most -. -.---.-------------------