The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-08-29
NAVAL STORES INDUSTRY
SAVANNAH TO HAVE ANOTHER
LARGE FACTORAGE HOUSE.


Acres Of Turpentine Lands-CoIa-
munity Of Interest Between the
Factors and the Lumber Merchants.
Who Are Working the Timber
Lands Together-Interesting Facts
About the Lumber Industry OF Sa-
vannah.
Savannah. as Is well known, is the first
naval stores port in the world, ana is likely
to continue as such for many years to come
This city is soon to have another very large
factorage houses by a corporation to
be known as tine Savannah Naval Stores
Company. with paid up capital of slOO,-
600.
ITS PROBABLE MANAGER
1t is understood that Mr.. W c. Powell is to
be the manager of the new house. Mr.. Pow
ell was the head Of the firm of W. c. Powell
& Co, naval stores factors Of this city, in
1871. They sold out 10 the Chess-Carley
Company, who were afterward succeeded
by the Standard Oil Company.
APPLICATION FOR A CHARTER.
The new firm is composed Of naval stores
producers in this section Of Georgia, who
have a large surplus capital that they pro
pose TO employ in the factorags business,
and it is understood that they own and con-
troll turpentine farms which will give them
10000 barrels Of spirits annually to put on
the market. The producers, who are nine
in number have been patrons OF the Savan-
nah merchants.
As the initiative step TO the organization
of this company Messrs Garrard & Mel
drin, their ATTORNEYS filed yesterday In the
office Of the clerk Of the superior court a
petition praying for the incorporation Of
the new company. The incofporators are
William Pritchett, John C. Powell, w. c.
Powell, w. W. Beach, Alexander Seasons,
B. F. Billiard, w. B. Rice, George W.
Deem and J. Warren Carter. The principal
Office of the company is, OF course, 70 be in
this city. The petitioners ask TO be en-
powered to increase their capital stock to
$1,000, 900, at their option. The shares in
the new company are TO be 81 900 each.
THE NAVAL STORES INDUSTRY.
The naval stores industry of Sa-
vannah was never more active than
at this time. A member Of a
leading firm Of naval stores factors on the
Bay says that it is estimated that the re-
cepts of turpentine this season will reach
100, 900 barrels, and probably 100000. The
receipts lass year we're 1872, 900 barrels. Ia
a lengthy interview with the factor yester
day he stated that he looks for an early re-
action in the prices Of spirits, as he believes
the low prices will induce domestic coasurn
ers, in spite Of the stringency OF the money
market of the country, to come In and make
their purchases.
Since Monday last turpentine has dropped
from SO cents to 81 Is cents, but the tone Of
the market yesterday was firmer. A year
ago yesterday the market was strong at
4219 cents, and spirits usually advance at
this season Of the year Father than decline.
The stringency OF the money market is
assigned as one OF the causes of the decline,
and the scarcity of spot vessels. has dis
couraged buyers, who do not feel disposed
on account of leakage and loss Of interest to
make their purchases too far in advance of
shipment. The stringent money market in
the north has had tendency to prevent
consumers from stocking up. They usually
place their orders at this season Of the year.
The factor says that the receipts of spirits
have been much larger this year up TO the
present time at this port and at primary
ports than for the same period last year or
the year previous, and while there is an in
crease in the receipts from the districts of
the two Carolinas they are not proportion
ately as large as the receipts at this port.
GOOD PRICES FOR RosIN.
The price of rosin has been satisfactory,
and the market for all grades is firm SAID
the factor: The price OF rosln has ruled
from 30 10 so per ce1t higher than last
year, and there has been a continued good
demand for all grades as fast as received
There has cen much larger percentage of
the total output marketed than has ever
been before at this season of the year The
prevailing high prices encouraged producers
to use all their energies TO get their rosin e
market, and as the receipts must be lighter
for the rest of the season, continued good
prices NAV be looked forward to"
Turpentine farmers, for the last two
years, said the factor, have made money.
Their percentage on their turpentine land
investments has been very large, and when
they have exhausted the nayai stores life OF
the trees they will have the timber and the
valuable agricultural lands left.
NOT WORKED CLOSE ENOUGH.
The factor was asked what is the life OF
the turpentine tree, and in reply he said
trees are worked IL Georgia from three tc
four years, but he predicts that the turpen-
time farmers Of the state will have to work
their boxes closer, for the reason that they
cannot afford to abandon trees in
the future, at the present price OF
pine lands, as soon as they have been in
the habit Of doing. In the two Carolinas
trees, on account of their scarcity, are boxed
from nine TO ten years. The longer the trees
are used, however, the lower the grade OF
rosin produced. In Georgia box-cutting IL
regulated by law, and no boxes can be cut
before Nov. l, or later than March Ii. Toe
factor says the law should be Amended so
as to still further abridge the time, not
only to save the timber, but that prices
might be more satisfactory. He stated thai
there are no laws regulating the boxing
season in the two CarolnAs
THE FIELDS DRAWN UPON.
Savannah draws its naval stores supply
from Georgia, the eastern section Of Ala
bama on the Chattahoocheet FLYER, and acros
the Florida border, and it is estimated tina
Savannah factors control l ,150, 900 acres Of
turpentine land which were operated thi
year, and have half es many acres which
are held in reserve for future operations
In recent years the lumber merchants and th
naval stores factors and turpentine farmer
have adopted a more economic policy
haw-mlll men who own pine lands sub le
the turpentine privilege, and follow the
turpentlne farmers three or four years late
and cut the timber.
A crop Of turpentine is placed at thirty
hve barrels, and it requires 200 acres to pro
duce what is known as a crop of turpentine
An acre of land will average fifty trees. s,
that it will be seen that it requires 600
trees toproduce a crop.
IMMENSE TIMBER HOLDINGS
The timber merchants being so closel
identified with the naval stores producer
and factors, a MORNING NEWS reporte
called upon MIR. Merritt w. Dixon, of Dale
Dixon a. Co. from whom he obtained som