The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-04-15
MAKE SAVANNAH
COALING STATION
SAVANNAH CoALING COMPANY
APPLIES TO SUPERIOR COURT FOR
INCORPORATION AND CHARTER.

New York Man in City Yesterday and
Wharf SeIected-Second New York
COaIing Man viii Reach Savannah
TO-day-CnpitaI stock of Company
Is $5O,OOO, All of which Is Paid
In-If 10 Per Cent. of Business Co
ing Elsewhere Is Captured, Yearly
Profit VIII BE Very Large.
With the filing of the petition for In
corporation of the Savannah Coaling
Company in the Superior Court yes
terday, the plan to make Savannah a
leading coaling station OF the South
came to light The application was
filed by O'Connor, O'Byrne & Hart
ridge for Messrs. Roy c. Foster and
w. A. Carson.
The plan for making Savannah
coaling station has been agitated In
the Morning News and has been stead
lily pushed forward for the last five
months, but no open movement was
made until all arrangements had been
completed and everything was ready
for Incorporation. The capital stock of
the company. $4,000, has all been paid
in.
The scheme suggested itself several
months ago to one of the leading coal
men of the city and correspondence
with the United States officials, and
with the companies whose vessels come
10 this port, was at once commenced.
1t developed that the great majority
of the vessels which enter Savan-
nah and take on cargoes for Euro
peon points go to Norfolk, Newport
News and other more northern points
for their coal.
The principal objection raised to
making Savannah a coaling station
was the fact that the required quality
of coal necessary for the sea-going
vessels was mined so far from Sa-
vannah that to ship 1t here, and sell
1t at anything like reasonable profit
for the local dealers, would make the
price so high that ships would not coal
here.
Cheaper Than at Norfolk.
A comparison of actual figures
showed however, that such is not
the case. Vessels coming to Savan-
Iah and taking on a cargo have addi-
tional expense in coaling at Norfolk
IN the first place there are harbor
charges at both ports, which amount
10 considerable in the long run.
Then there is the cost of the coal
consumed in making the trip to the
more northern coaling points, and the
delay caused by the journey. From
week TO ten days is lost in the trip
including the time to sail from Sa-
Vannah to the other port, and the time
required to coal.
BY adding these charges to the cost
of the coal here, after freight charges
were paid, and making a very small
estimate of the value of the time lost,
1t was found that the coal could real
ly be bought cheaper at Savannah than
at any other point, for vessels touch
ing at this port for cargoes. Con-
sultation with captains and masters
showed that they would prefer to buy
their coal here and save the northern
journey.
Northern Men I'm savannah.
The matter was then brought to the
attention of the companies sending
ships to this port and to Northern
companies dealing in coal An agree
ment was reached whereby a certain
proportion of the capital stock was
TO be taken by one of the largest coal
dealing companies of this country. The
company in question Goals vessels in
a number of foreign ports, and they
their ships to Savannah to coal, and
at the same time ship their coal here
for these vessels at a price which will
make it readily saleable.
A prominent member of this COM
pany was in Savannah yesterday for
the purpose of choosing a coaling
wharf and making other minor ar
engagements. He carefully inspected
the frontage available and it is un-
derstood that a site has been select
ed. A second member of the firm
will arrive in Savannah this morning
to look over the ground and complete
all details.
BY close figuring it has been esti-
mated that if one-tenth of the bust
ness now going to other ports can
be captured for Savannah that heavy
profit will be realized in Savannah
yearly. making the stock paying in
vestment. The 10 per cent is con-
sidered a very conservative estimate.
May Increase Capital stock.
In the application of the incorpora-
tors the privilege is asked of increas-
ing the capital stock at any time to
a higher figure, the amount not to ex-
coed $25OO0O The capital stock can
not be decreased below the $4,000
starting point, however. The stock is
divided. at present into 500 shares, of
a par value of 500.
All of the stock has been taken up,
or at least the greater part of it, and
the incorporators feel that they will
have no trouble in disposing of what
little remains. The men backing the
company are among the most careful
fnanciers of this section, and by their
Investments they have shown their
confidence in the business.
The company asks the privilege of
buying, selling, storing, mining and
handling coal; of owning and operat-
ing machinery, and of purchasing and
owning wharves and warehouses. The
indications are that the new company
Will be one of the most flourishing in
Savannah and of great help to the city.