The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-09-09
NO PROFIT AT THE PRICE
COMMON ROSIN QUOTED AT 10
CENT3 PER BARREL.

| Producers Unable to Market the
| Lower Grades of Rosiu Excspt at an
| Actual Loss-Factors Advising Their
| Patrons to Withhold Shipments
Until the Depression is OVERCAST
Years Disasters to Shipping Cause a
Scarcity of Freight Room.
The naval stores market is suffering
severe depression in the price of low grade
resins. The market for common resins was
lower yesterday than it has ever been. The
board of trade quotation was 10 cents for
all grades below G. The lowest quo
tation last year was so cents, and
tho year before 81 05 was the lowest The
market price is based on the commercial
barrel, which is $50 pounds. The factors
charges, freights, ETC., are on the round
barrel basis. The average weight of
round barrel is 420 pounds, so that 70 cents
per commercial barrel means 81 05 per
round barrel to the producer At the
present price all grades of rosin
below G are marketed at an actual loss to
the producer. The charges exceed the mar
ket price Of the rosin.
fair estimate of charges is 81 20 per
barrel 40 cents of this is freight, 10 cents
factors charges, storage, insurance, inspec-
ton, etc, 25 cents hauling from the still to
the railroad, and the barrel itself costs 40
cents, so that the producer loses 10 cents per
barrel at the present price.
WHAT THE FACTORS SAY.
Factors are advising their patrons against
the shipment of low grade ro.i s. AS long
as the receipts continue to be proportion
ately heavy as they have been for the past
t,yD ba to
the slightest chance of Obtaining higher
prices.
The principal cause of the decline is the
difficulty i'll securing freight room at any
Thing like tn rates vessels have been com
PEELED to accept for several seasons past.
The class of vessels that are demanded for
the naval stores trade are those of from 400
to 600 tons burden. The scarcity is ac-
counted for by tue fact that over 400 OF
this class of vessels of one nationality alone,
were lost during last year Vessels of this
size are also in demand for other freights
that can afford, or rather do pay, more
than naval stores. The very large produc-
ton of common rosin, of course, is the
primary cause of the low prices,
but other causes have combined to
cause still further depression.
New York has taken 81 ,352 barrels of rosin
this season against IS, S64 last season. The
domestic shipment TO ports other than New
York tbs year has been 70,079 barrels
against SO, 526 last year up to same date.
SOME OTHER CAUSES
The foreign shipments this season have
been only S0,246 barrels against 131, 922 last
season. This is one of the causes of the very
large accumulation of common rosin If
the general condition of the European coun-
tries remains peaceful, there will yet be
demand for common rosin TO fl up the So
900 barrels that Savannah is behind in ship
ments, and if the factors have the assistance
of their patrons by the temporary with
holding of shipments, the cha CO for obtain
ing better prices, trey believe, will be
largely increased.
The price OF high grade resins has not
suffered anything like the lower grades.
And this fact and the increase of from 81 50
10 S. 80 per barrel in the price of spirits,
factors say, will more than offset the low
prices for common resins. On the whole
the producers chances are for better results
this year than we're obtained last year The
stock OF spirits here is 6,823 barrels against
1867 barrels at same time last year, and
the st ock in the principal Atlantic ports is
about L, 900 barrels less taan it was year