The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1904-05-10

S IdihS NIduc Dy several OF
the Members.
On yesterday afternoon was held
the annual meeting of the Chamber
of Commerce, but before this meeting
took place the officers were elected for
the ensuing year. The result of the
election was as follows: J.. Allen Tay-
Tor. president; s. P. McNair, vice
president. Executive committee
A Arringdale, L. B. Rogers, NJ. F. H.
Gouverneur, l. NJ. Bear and NJ. S. Will
lard Inspectors of election-C. c..
Brown, d. G. Love and M. w. Divine
The regular annuaI meeting OF the
board was called to ORDER at $40 p.
M, with the following members pres
ent j.. A. Taylor. NJ. f. H. Gouver-
neur, j. A. Arringdale, L. B.. Rogers.
NJ s. Willard, L. NJ. Bear, J. Van b.
Metts' H. G. S~mallbOnes, John Nc
~tachern, j. 5. Hooper, j. H. Brown,
Geo. r. French, S. F. Craig, j. H.
C~hadbourn, l.. BluenthaI, NJ. w. ia
cObf, w. i. Cooper, r. A. Parsley, e.
c. Brown, Walker Taylor, H. w. Nal
10y. SamI. Bear, w H. Brown,
Philander Pearsall, H. K. Nash. James
/. Nets, Hugh MacRae, J.. T. Rankin
and A. H. ZoeIler.
Immediately after the meeting was
called to order the secretary, Mr..
James Kyle, read President TaylOr's
report, and it was listened to with
the greatest interest by those present.
The report was as follows:
BUSINESS CONDITIONS.
Wilmington, n. c., May 5, 1904.
To h Chamber:
The past twelve months have been
q period of unusual prosperity in all
line of business With the single
exception of tobacco, all farm products
have returned most satisfactory re-
suits, and the appreciation in the
value of cotton alone more than Off
sets the loss in tobacco. Naval
stores have commanded the best
prices for a generation, peanuts have
ruled SO per cent. above prices for
h previous year., and lumber con-
tinues at satisfactory figures, with
promise of approaching values, as the
supply of timber is diminished. La
Dor has had steady and remunerative
employment, and the limit of produc-
ton is the supply Of labor. Collec-
lions have been remarkably good, and
our bank stand at the high
water mark. Failures have been
fewer In number and smaller in ag-
gregate amount than for any like pc
Rod of record, and there is to the debit
of Wilmington only one commercial
failure for the twelve months past.
Under such conditions. the volume of
business could not be otherwise than
satisfactory, and a gain of Is per
cent. in the of Wilmington
for twelve months is a most notable
increase, and places the per capita
business of Wilmington ahead Of that
OF m city in the South. And al
though we have but one exporter of
cotton Wilmington is fourth in the
list OF cotton exports, a record of
which we may be justly proud and a
striking testimonial to the enterprise
and business abilities of Messrs. Alex.
Sprunt & Son.
AS recently as fifteen years ago
Wilmington had no back country,
and largely depended for her pros
perity on exports Of cotton, naval
stores and lumber; and while with the
exception of naval stores, h volume
and value OF these commodities have
grown in substantial and satisfactory
proportions, the development of the
trucking Industry has supplied the
resource of a back country and poured
a new and steadily increasing stream
of wealth into her lap. This industry
is but in its infancy, n the potential
possibilities of this section only
been touched. Lands which a few
years ago could be bought for the
modest sum of several dollars an acre
now command readily n hundred
dollars per acre. Wilmington is sit
uated in the centre of this trucking
belt. and all things considered there
is no city in the South whose pros
perity is so a%bundantly assured and
which offers so inviting a field for the
investment of capital
" commercial community we
have ever been Singularly free from
reckless adventures n boom manlas.
The spirit of our people Is not spec
ulatively inclined, and does not run
into airy dreams of rash and irrational
undertakings. Because Of this the
superficial observer may mistake busl-
ness prudence for timidity, and n
found the want of enterprise with his
INABILITY to Judge discriminatory. An
ANIMAL business of forty millions At
tests our energy ana enterprise, ana
the soundness Of our business n.'ltu-
lions reflects the conservative metnoos
of our business principles, and we
observe with euuanimity that rashness
is not enterprise nor chance the ar"i-
ter Of success.
BOARD OF TRADE.
IF WAS o,1r desire to inaugurate q
no.r5 of trade feature by proV1dlne
fsciIities for merchandise K &c
sfer their wares or the floor OF tne
Chamber, but want of space ano
other considerations prevented puttlns
the plan into execution; the resu
of such a project would be the BRING.
ing together of many OF u pusi Ne :
&c, on the floor of the Chamber at !
a-asienated hour each day., ana to &c
eomnlish this was the primary puI.
pose in view. With an Increase -
revenue the project can be carries =,
ont successfully al d the use1uiless =
the Chamber scnsihly enhancea.
NARKET QUOTATIONS.
We have been enabled to increass