The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-06-16
TO KEEP UP THE PRICES.
NAVAL STORES PRODUCTION TO
BE REDUCED.

A Conference In Savannah Between
Operators and Factors-A Circular
to Producers That the Chipping Of
Yearling and Old Boxes Be sus-
pended after July 4 to the Extent OF
20 Per Gent. of the Boxes Worked
Naval stores production is to be reduced
in Georgia and Florida in order 10 keep up
the prices. This course was decided upon
Yesterday at q conference between commit
tees from the subassoolations Of Georgia
and Florida and the Savannah factors.
For several days turpentine operators
have been IN conference with the local
factors, but they declined to say what their
mission was until yesterday, when specific
| understanding was arrived at, by which 1t
is expected to secure unity of action among
the producers of Georgia and Florida,
which will keep prices up 60 point where
q good profit can be made.
For some time the market has been tend
ing downward because of overproduction,
and the outlook was becoming more threat
ening every day. Both operators and fac
and they decided to hold a conference.
A CIRCULAR TO PRODUCERS.
The result was the adoption of the follow
ing circular. which will be sent out to every
turpentine producer in Georgia and Florida:
SAVANNAH. GA, June H., 1892
To the IttrDentiRe Producers Of Georgia, South
Carolina FIoridd and Aldbama:
Al conference between committees ap-
pointed by the several subassociations OF tur-
pentlne operators in Georgia and Florida, and
the factors OF Savannah, held this day in the
city OF Savannah, it was
ReRDlggaA Thuf In xrso- - 49,. i
dition OF the markets for n ,vai stores and to
the end that by reducing production prices may
De advanced above the point OF COST and there
by serious losses, which now threaten US, may
pc aYerted. we recommend the following &C
ton:
That beginning this week and certainly by
July chipping Of yearling and old boxes be
suspended for this season to the extsnt of at
least 20 per cent. of the quantity of boxes
worked by each producer.
That we recommend to each subassociation
70 adopt this resolution, and respectfully invite
all operators who ore not oficially connected
with our association to adopt the same action
In advising the above action we believe its
erect WIN be to advance prices OF naval stores.
whlle II nothing Is done. we may see still lower
prices before this end of the season.
j. W. West, J. A. Crawford. committee from
the Florida Suoasaociation; r 8. Thigpen, T.
q. Crawford. A. C. Mcleod. from Valdosta AS
ISOLATION: W. J. Strickland, W. II. Clements
from Cordelo Association; D. z. Newton, D. v
Coleman, WI Peterson, from Lyons Assocla
htOui A<cOndIu OdEl6Ts lTOIl mAYcrOSS AHSOClH-
tloni s. Herman, from Eastman Association.
The circular is signed by w. w. CHS
holm 81 Co., Chesnutt & O'Neill, Edwards,
Trenholm a. Co., G. Lucinn Jones, Peacock,
Hunt & Co., Savannah Naval Stores Com
pany, per w. G. Powell; Baldwin Sc Co., J.
z. Williams 81 Co. Ellis, Young & Co., A.
M: Moses. Greig. Jones q Wood, Lemon &
Middleton.
TO STAND BY THE CONFERENCE.
Mr.. John r. Young, of Ellis, Young g.
Co. wac asked if he thought the provisions
| OF the circular will be carried. He said the
| producers who represented the several asso-
| Citations guaranteed that the associations
will adopt and carry into effect the action
OF the conference. The gentlemen who we're
In the conference, Mr.. Young said, claim
that 60 per cent. OF the turpentine produo-
GERS OF the two states belong to the opera
sors' association, and that those not msm-
oers will adopt any plan that the association
agrees upon.
The conference also discussed the advisa-
bility of providing for holding any surplus
Of spirits Of turpentine over the oonsump-
ton demand at Savannah. A committee was
appointed to look into the matter OF procur-
ing tanks for this purpose.
In reply to question whether he thought
the Savannah merchants and producers can
carry any great quantity OF turpentine,
MIR. Young said: That is the question to
be looked into. 1t intended that the pro-
ducers or their representatives in this mar
ket, which controls the markets of the
world, should name the price Of naval
stores, and safe and economical means
should be at hand to hold so much OF the
crop as cannot be sold at profitable prices. "