Savannah morning news. [volume] (Savannah) 1868-1887, 1881-09-03

An analysis of this statement shows that
Wilmington has fallen off in spirits turpentine
IA per cent, and 10 rosin Il per cent.
Charleston has fallen of in spirits turpen-
tine 1416 per cent rosin - per cent.
Mobile has fallen off in spirits turpentine
2215 per cent, Tosin 15I5 per cent.
While the only increase has been at the
Georgia ports-Savannah gaining Is per cent.
in spirits turpentine and - per cent. in rosin
Brunswick So per cent in spirits turpentine,
and IS per cent. in rOsin
The aggregate loss in the whole crop is "a, AIS
barrels spirits turpentine and "a OIL barrels
rosin.
Our market now takes rank next to vii.
mington. having passed. Charleston in the race,
and the same ratio of decrease in Wilmington,
with the same ratio of increase in Savannah,
IViU place as at the head of UnSted States ports
t0ithtn the neGt tuo gears The wonderful de-
velopment of this MISUNDERSTANDING in 1874
and within nine years eleVating our city to the
position of the leading market for naval
stores in the United StateS-demonstrAtes not
only the extraordinary productive power of
our land, but the exhaustless enterprise of our
people, in their new career Of prosperity. Our
city is already recognized as the chief point for
pale resins, and with its unrivalled facilities
for bringing to market and handling the pro-
ducts Of the vast forests Of untouched pines
in our State, the world must look to this port
for its main supplies in the future.
The course of the market for spirits turpen-
tine during the year has been exceptionally
high. The price opened September /, 1880, at
35c.. declined to 331ac., and advanced to 4'c.
by LIST october. During October a further ad-
vance took place to dc, declining to 40c, and
closing November list 42c. During November
the price was about the same, the fluctuations
being Slight December the price went up to
4315c.. in January to 45c and in February de-
clined to 4lc, closing LIST March 42c. April 7st
(the beginning of the naval stores season. the
price had declined to 4Oc. Specu atOrs. proba-
bly, anticipating repetition Of the heavy de-
cline of the previous year. when the price
dropped to 23c, went short" at low prices 10
a heavy amount, depending upon covering
their contracts at the usual summer prices.
During April the price declined to S5c., ad-
vanced to 38c, and then dropped to &c.
the middle of May, when the short interest
appeared to have the advantage. From this
time fierce contest has been waged, and
under repeated attacks, the shorts" have
given way, the market generally tending up
ward. The price advance to Csc. by the 1st
June, 40c LIST Juy, dropping off to SIC. LIST
August, since which time the shorts have
been on "a drive the market closing firm at
49c., the highest price of the year.
Following the course of the market for
rosinS, and taking E as the representative OF
the common or red grades X for the medium
grades, and w G for the pales, we fad the
market on the 1st September 1880, as follows:
L 81 40, 81 62lS, w g 50 3716. In the month
OF September advanced to 81 20. then de-
clined to 81 so. remaining quiet until Novem-
Der when it advanced to 81 IS, then fell off to
81 IS December. Fluctuating between that
point and 81 65 until February, a further de-
cline sent it down to 81 IS then up TO 81 so,
4
to 81 90 and 81 rs in June and July, when
early in August the market advanced to 81 80.
and has steadily advanced to 80, the market
closing steady at this figure
K opened September, 1890, at 81 621f, ad-
vanced in the fall to 81 IS, then declined to
81 371S in the winter and 50 2o (the lowest price
reached) in the spriOg, advanced to 81 IS in
Nav and -shssa. daolinad to s. %. remaining
quiet and dull during the summer until the
August boom" took 1t to 81 IS, at which price
the market closes very firm.
W g oIened at 50 3716, and has followed The
general course OF the other grades, dropping
to 81 80 Che lowest point in April. since which
time the general tendency has been upward
although the market has fiuctuated to some
extenD until it reached Is 70 in August the
market closing very firm, with no stock in
fl st hands, and an active demand. The ter
rible storm Of August q extended throughout
the lower pine belt OF Georgia, and has been
disastrous in localities, but the extent of the
damage cannot, at present, be asceTtained
The general outlook is for high prices for
spirits turpeRtfne during the fall and winter
as the stocks In this country are light and the
usual fall demand will absorb receipts as they
come to market. AS their appears to be no
doubt OF q short supply OF pale roSns an ad-
vance in these grades may be expf cted, while
red resins will probably continue to bring good
prices, unless the North Carolina crop Of COM
mon should turn out To be heavier than is ex-
pected. We append the usual tables Of re-
ceipts at and exports from this port.
RECEIPTS, SHIPMENTS AND STOCK FROM APRIL /,
1881, TO DATE, AND FOR THE CORRESPONDING
DATE LAST YEAR.
1900