The Wilmington morning star., 1940-12-13
WILL SEEK
LOAN FROM RFC TO
BUILD TERMINALS
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has been approved by William B.
Campbell, city attorney.
For months HERS has been Sc
curing information to support the
application and has filed with the
application a comprehensive brief
containing all this information.
The brief begins with a general
description of Wilmington, it's To-
cation, transportation facilities, In
dustries, the products Of the sur
rounding territory and the work
which the federal government has
done to make the Cape Fear river
suitable for ocean going ships.
It points out that the shipyard
property which the city owns was
decided to it by he federal gov
eminent only with the proviso that
terminals should be erected there
when needed and that mo OBJ
jections to proposed project have
been made by individuals, civic
groups, or any other bodies. On
the other hand, certain civic
groups and the officials of the city
and county have Fundamentally
and unanimously Endorsed the plan
to provide the port with modern
waterfront terminals"
Relative to revenue producing
projects, which would finance the
project, the brief points out that
1T is pertinent to say at this
point that all of the commodities
which are definitely anticipated for
handling through new facility orig
mate in a territory having freight
rates favorable to and from the
port Of Wilmington"
Anticipated Freight
The brief lists as freight anticl-
pated for handling through the ter
minal its first year of operation,
the following items: Textiles, 6,e63
tons; manufactured tobacco, 1900
tons; plywood veneer, 800 tons;
peanut meal, 1000 tons; blankets,
1900 tons; knit goods, 375 tons,
cast iron pipe, 1900 tons; hosiery,
rs. tons; cedar lumber, PIG tons;
furniture, 500 tons and tobacco, N
hogsheads, 1000 tons, all bound TO"
the Pacific coast; 80, 1000 tons Of to-
bacco in h~ogsheads, 5000 tons CT
cotton, 1000 tons of lumber and
1000 tons of naval stores, for ex-
port; 10000 tons of paper, 5000
tons of tapioca flour, 5000 tons OF
cotton and 1900 tons of wood pup
for importation; and 1000 tons of
canned goods, 1000 tons of petrole
um products ceased goods) and g.
500 tons of miscellaneous merchan-
disc in coastwise commerce. 4
This would make a grand total
Of 70, 634 tons the first year. The
brief anticipates an increase of 10
percent the second year Of opera
ton, 10 percent the third year and
10 percent the fourth year, which
at that time would make the total
tonnage per year los, 994 tons.
Gas a careful study oe the ton
mage potentialities and actualities
Of this port definitely indicates that
above figures r consefvaJvc i'll
every sense of the word, we shall,
for the purpose Of showing operat.
ing revenues, use 100, 600 tons as a
safe and sound average basis for
determining revenue during tn e
life of the loan," the brief says.
Operating Revenue
On that basis it shows a total
operating revenue for the ter:ni-
nails of $138, 796 per annum as
against total operating and main
tenance expenses Of $68.84e, leav-
ing a net income to apply against
the retirement of the loan, of $685.
$50 annually.
Attached to the brief are photo
copies of many letters from
manufacturers of cotton goods, to.
bacco products, lumber ard other
building materials, fertilizer, pea
nut meal, blankets, hosiery, furni-
paper, and other products
and distributors of these products,
of their desire to use the
port of Wilmington if terminals are
erected here.
These were received by HERS
over a period Of months during
which he has been working Oh the
application and getting material
to support it.
The brief also quotes Lieut.. Col.
George W. Gillette, formerly. Will
mington district army engineer as
saying that "the port Of Whining
tony is not a local proposition and
should be developed into the major
city for the two Carolinas. More
water depth and terminal facili-
ties are needed 4 Wilmington ex-