Daily press. [volume] (Newport News, Va.) 1896-current, 1909-12-08
ONE HUNDRED THOUSAND
DOLLARS SUBSCRIBED NOW
Way is Paved For Million Dollar Bond
lssue-Pian Is to Build Great Reeve
nue. Producing Structure Tor Perm
snent Hss6qusrters-Last DAY OF
Convention.

W .iSfll-\N iON. IL. = bt'. - ne
Southern Commercial Congress closed
ats sessions here tonight With IFS new
$1.00en0r h me In Washington no
longer cream. bnt an organized
project. financed. signed and sealed
Just 100 men OF the south have made
this possible E9ch has subscribed
tc Sl.uUn worth of stock in the South
ern building corporate n. which is
formed IL build Il magnificent revenue
producing structure, which viii be
the permanent home of the congress.
This subscription payes the way to
Il $1,000. 600 bond issue, bearing in
terest at five per cent and an is
sue OF second mortgage bonds bear
ing interest at & per cent.
The plan provides for total issue
OF preferred stock bearing interest
at per cent amounting TO $3.50. goo.
Later preferred stock will be issued
TO retire the second mortgage bonds.
The architects assure the officers OF
the congress that the new home
should provide sufficient revenue to
meet al fixed charges and pay ten
per cent on the common stock after
the project Is we'll underway by -ths
financial plan. the Southern Com
merclal Congress Will always be in
complete control of the building cor
poratiCn.
Officers Elected.
Just before the congress adjourned
these officers were elected:
President, John VI. Parker. New
Orleans; first vice president. j. Tay-
lor Ellyson. lieutenant governor OF
Virginia; second vice-president, Julian
s. Carr. OF North Carolina: managing
director, G.. Grosvenor Dave, Wash
ingtcn, p. c.; secretary. Edwin l..
ouarles. Petersburg. Virginia.
The following board of directors
We're elected for the states: Alabama.
Culpepper Exum, of Birmingham;
Florida, Senator Duncan L. Fletcher.
OF Jacksonville; Georgia. Asa q.
Gambler. of Atlanta; Kentucky.
Charles J. Ballard. OF Louisville:
Louisiana. Lawrence Febacher. of
New Orleans: Maryland. Isaac E.
h;meesch. + Baltimore; Mississippi,
C. L. Robinson. OF Robinsonyille;
Missouri. George W Simmons. OF st.
Louis: North Carolina, Benjamin
Cameron, cf Raleigh: South Carolina.
A. r. Gonzales. of Columbia; Tonnes
see, John w. billiard. Of Memphis;
Texas. r. A. Heitmanp, of Houston;
Virginia. T. s. Southgate, Of Norfolk.
Directors at Large.
Directors at large elected we're as
follows:
Lee Mcclung. Washington ID. c.:
F Faxon, Memphis. Tenn; r. w.
M!llssps, Jacksonville, Fla: Charles
Hall Davis. Petersburg. Va; Charles
A. Douglas. washington, ID. c.: j..
W, McGrath. Brookhaven. Miss;
James A. Sprunt. Wilmington, y. C.;
j. l. Dulaney, Washington, D. C;
X. J. Lowery. Atlanta. Ga: G. W
Witt, Lynchburg. Va: $. ". Wood
ward. Washington, 10. c.
Lst before the congress adjourned
- placed itself on Tecoru against
indiscriminate immigration to the
81 south. The sense OF the resolution
vas 20 the effect that only imnr-
grants who can be depended upon to
maintain the standards OF civilization
are desirable.
Another resolution indorsing the
aims and purposes Of the national riv-
ers and haroors congress was unani-
mously passed. Another commends
Secretary a. the Macy Meyers for his
bnsinessiike administration and pro-
tests against any proposition 10 sweep
out Of existence the navv Yards CT
REPAIR stations south Of Norfolk.
Dixie Lands Opportunities.
WASHINGTON. ID. G. Dec. 7.-Op-
roriunIties lying within the grasp OF
Dixie land and a. reorganization Of rs
vast resources were presented before
Abe southern { numerical Congress
At its opening meeting today.
That the cotton crop Of the South
Is tn msinstay OF al The financial
snstitu ious Of this country. and Is IN
NO viss involved - q sectional ques-
ton was - irclaraficn q Harvie
Jordon. ST, ssdent g the southern Cot
ton Association who opened the first
session - IT, chairman. lie re-
v.cxcd the story O. cotton PRODUCTION
TO rthc past - years and spoke o.
the future prosperity 81 tho South
re.afivc ~ cotton productiou. Incl
dentaIly introducing some statixiics-
lie added that n half the ratio hef
the demand for cotton by Southern
cotton mills would be vasly increased.