The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1909-12-08
Southern Commercial Congress
Has Laid Basis for Sp|en-
did Project
BOND ISSUE WILL Be
MADE FOR BUILDING
Ringing Addresses Are Made Before
Congress BY Prominent Southern
Men Upon Opportunities and
Development in the South.

Washington. December 1.-The Southern
Commercial congress closed its sessions
here tonight with its new 81. 600 600 home in
Washington no longer a dream but an
organized project, financed, signed and
sealed Just 100 men of the south have
made this possible. Each has subscribed
to $1,000 worth OF stock In the southern
building corporation. which is formed to
build a magnificent revenue-producing
structure, which will be the permanent
home of the congress.
This subscription paves the way to a ST.
10000 bond issue bearing interest at )
per cent and an issue of second mortgage
bonds bearing interest at per cent.
The plan provides for total issue of
preferred stock bearing interest at per
cent, amounting to s350.0oo Later pre-
ferred stock viii be issued to retire the
second mortgage bonds. The architects
assure fhe officers of the congress that
the new home should provide sufficient
revrnue to meet all fixed charges ana
pay 10 per cent on the common stock af-
ter thet project Is well under way. BY
the financial plan the Southern CONNER
cia1 congress will always be in complete
control of the building corporation.
Just before the congress adjourned these
officers were elected:
President, John NJ. Parker New Or
leans; first vice president, J. Taylor Ely
son. lieutenant goYsaAor. OF .yirginis,. sec
ond vice presidaif J1Isap s fs3xN Of
North Carolina; managing director C.
Grosvenor Dave. Washington, D. G.; sec
retary, Edwin L. Quarles. Virginia.
Board Of Directors.
The following board of directors was
elected for the states
Alabama, Cuipepper Exum, Birmingham.
Florida, Senator d. U. Fletcher, Jack
sonville.
Georgia, Asa G. Chanler, Atlanta.
Kentucky Charles J. Ballard, Louisville.
Louisiana, Lawrence Fabaeher New Or
leans.
Mississippi C. e. Robinson, Robinson
VILE.
Missouri, George w. Simmons. st. Louis.
North Carolina, Benjamin Cameron, Ra-
leigh.
South Carolina, A. E. Gonzales. Colum-
bia. As'sf-
Tennessee. John w. billiard. Memphis.
Texas. f. A Heitmann. Houston.
Virginia, L. s. Southgate, Norfolk.
Directors at large elected were as fol-
lows:
Lee McClung Washington, d. c.; f.. w.
Faxon, Memphis, Tenn; r. w. Milsaps,
Jacksonville, Fla; Charles Hall Davis,
Petersburg, Va; Charles A. Douglass,
al1i ,rfn n w "a,
Brookhaven, Miss; James A. Spruit, Will
mington. N. c.: B. t. Duaney, WASH
fngton, D. c.; R. J. Lowry Atlanta, Ga;
G. ". Witt LynclPburg, Va. 8. w. wood
ward, washington, d. C.
The congress placed itself on record
against indiscriminate immigration to the
south The sense of the resolution was
to the effect that only immigrants who
can be depended upon to maintain the
standards of civilization are desirable.
Another resolution indorsing the aims
and purposes of the National Rivers and
Harbors congress- was unanimously
passed. Another commends Secretary Of
the Navy Meyer for his businesslike ad-
ministration and protests against any
proposition to sweep out of existence the
navy yards or repair stations south Of
Norfolk
Harvey Jordan's Address.
That the cotton crop of the south is
the mainstay of all the financial institu-
tions of the country was the declaration
with which Harvey Jordan, president OF
tho southern association, opened today's
initial meeting.
Other addresses were made by G. w.
Koiner, commissioner of agriculture OF
Virginia, on Neglected Agricultural op-
portunities OF the South" r. s. Kellogg.
assistant forester of the United States
forest survey on "Perpetuating the Tim
ber Wealth of the South" and by Hugh
MacRae of Wilmington, N. c., on Col
onization Opportunities In the Southern
States.''
Mr.. Jordan reviewed the history of
cotton production for the past IS years
and spoke of the future prospects OF the
south relative to cotton production; in-.
cidentally introducing some statistics. He
added that IL half tho ratio held good for
the next 80 years the demand for cot
ton by the southern mills would be vastly
increased
..If more of the farmers of the south
would redouble their efforts the product
could be increased greatly"
with this statement @. W. Koiner,
commissioner of agriculture or Virginia.
made a plea for increased energy on the
part OF the agriculturists OF the south.
He said THAI no section Of the globe OF
fered greater opportunities for invest
ment than the south and spoke particu-
larly of his own state.
south's Opportunities.
big with promise are the opportuni-
ties of the southland with its genial cli-
mate and equally genial people This
was the sentiment conveyed to the con-
gress through paper prepared by As
sistant Secretary of Agriculture Hays,
who unavoidably was not able to be
present. Science and education combined
with the new spirit of the times, said
Mr.. Hays, ARE clearing the decks for
most wonderful activity In the south.