The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-07-07
TURPENTINE In TANKS.
a SCHEME TO STORE THE CROP IN
SAVANNAH.

! DAA DbAA4Lo 4dIlh-E2ON 20 Va bLo
system-aow the Tanks Are to Be
Managed.
! A movement i5 on foot of considerable
! Importance TO the naval stores interests of
this section. 1t is q plan to erect tanks for
the storage OF spirits turpentine in bulk
similar to those now used for the storage Of
| oil by the Standard and other oil compa-
mics. 10 is proposed 10 erect several iron
sankS of from 1000 10 5000 gallons ca
pacitY for the storage Of the product when
the supply is greater than the market de-
mand, or when for any reason the producer
or purchaser prefers TO hold his spirits
rather than sell.
The matter ia now ia the hands Of q COM
! mittee OF operators and commission men ap-
polnted some time ago, who are securing es-
inmates and otherwise investigating the
feasibility Of the plan.
THE PLAN IN NUTSHELL.
Mr.. John R. Young OF Ellis, Young &
Co., one Of the members Of the committee,
was seen yesterday.
AT conference between committees
representing the turpentine producers and
the Savannah factors, recently held In
Savannah" he said, "it was decided to in
vestigate the matter of holding in tanks in
Savannah 30 much of the crop of turpentine
as could not be sold at prices that would
| yield profit to producers. A committee
was appointed from the members OF the
conference, as follows: T. @. Crawford of
Xvsldosta, chairman, and John R.
Young, G. ID. Baldwin and W. c.
| Powell OF Savannah, R. s. Thigpen of
Stockton and D. @. Overton OF Daisy. You
oan say that information and estimates are
| now being obtained on the cost of building
and putting in place from FIVE 70 twenty
tanks OF from 1000 to 1000 barrels capacity
and that the railroads and wharflngers will
be asked to put mp these tanks and store the
| turpentine as they do cotton and other
produce, charging reasonable rates for stor-
agen
ADVANTAGES OF THE SYSTEM
Mr.. Young said the plan is as yet undeveI-
oped and may or may not result in accom-
pllshing the object Ia. view
The purpose is 10 store spirits turpentine
just az tsnow done here by the Standard
OIL Company. the largest purchaser in the
Market The chief objects to be &C
oomplshedSIJs by Ola such 74 a system
are TO increase the price and
keep the market, firm by enabling the
producers TO hold thar spirits when they do
not consfder' me price offered large enough
to JUSTLY thena n selling aud to decrease the
The latsers Mr. Young s3R1plained, would
to hold tis crop until be sinks the prices
warrant him in selling. Inss doing be viii
defer the making Of another crop or the ex-
tension Of hts business at least until he is
able to- get back the money which
he has, put In the crop stored by him.
instead I IS es presept being compelled
TO sell out at once and immediately begin
rae WORK 8 q 4, making g. fsH crop to keep
abreast Of the procession aud keep out Of
debt. This decrease In gprodnotion Mr..
Young essi91ated as the most valuable re-
suit to beQbtained from storage system.
| There area number OF reasons why tur-
pentine cannot be stored an barrels or
shipped, the chief reason being that its ten
dencY to exaporate is 80 great, that heavy
loss Is entaited Upon the owner who holds
his spir1ts for any length OF time.
| THE oRJsISAToR5 OF THE PLAN.
Several other naval stores factors were
seen in regard no the ephu, and all heartily
approved Of Cs. u. aEsq williams OF j. p.
| Williams g. o., ia credlted with being the
| pioneer inthe movement5to tanlI turpentine
at Savannah MIR. Williams says that 80
far as he knows, london is the only place
In the world, with the exception of the
STANDARD Oh Company and, perhaps, other
similar corporatlons, where, turpentiue is
stored ID, tapksgto supply q, regular de-
mend and eottroI the market
In LONDON there are TANKS with capacity
ofover $1,000 barrels, by, means Of which
that market practically controls the sup
ply, and u enabled to largely dictate the
price. This is especially, Injurious to the
Savannah market, as When sellers here are
inclined 70 boom the market and advance
prices, they are. liable st any time to be
undersold by London. - -.
Mr.. Wtfffauts says that Savannah re-
ceives three-fourths of The entire supply of
spirits tdfpentine Of the World, but It has
never been in position to mske use OF the
advantages given it ,hFI- reason of
not be ah11E asie 70 Esersi < and hold the
TO hold the surplus product, which
Is not demanded by q the market, he
believes that itnrnense benefs would result
to all tntefesteh 10 eha crop here. producers
and factors q fke, especially the former.
THE PLAN UNDER CONSIDERATION.
Mr.. Williams fovors the erection OF two
tanks. holding 5000 gallons each, and he
believes the enterprises should be controlled
by private company or corporation, with
stock placed among q the factors and pro-
duceraE About $4,000 he estimates as the
amount required TO provide such
tanks and facilities. The tanks would
require Of course to be placed near the
wharves, and also convenient to the rail
road tracks for purposes of handling and
shipping economically.
Mr. WlluamS IDEAS diner somewhat
from those held by the majority Of the
committee. who prefer a number Of mall
tanks, and who think that the tanks should
be erected by the railroads on tho same
principle as warehouses for the storage OF
cotton and other products.
TO USE STORAGE RECEIPTS.
The manner In which the tanks will be
conducted is that producers or other per-
sons storing turpsntine shall receive
receipts for the amount. These receipts il
is proposed to make negotiable at the banks
In Savannah and New York. At any time
on presentation OF these receipts and pay
ment Of storage charges the amount of
spirits for which they call can be obtalued.
This will, OF course, afford a fine field for
speculation. Such system would prove
an inducement for speculative buyers &c
enter the market and buy for the purpose OF
holding for a rise. This will tend to in
crease prices and to strengthen the tone OF
the market.
1t is proposed, in case the plan is
carried out, to have the board OF trade
change lbs rules so as to make the storage
receipts good delivery. which could easily
be done. 1t is evident that the plan pro
posed of tanking spirits so as to relieve the
market OF the surplus would prove of i'm