The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-01-13
THE BIG TUsPRnrINE TANK.
The Contract for It's Erection About
to Be Given Out.

to Be Given Out.
The tank system for storing spirits
turpentins is now an assured thing for Sa-
vAnnah, and the irst tank will be erected
before the opening of the coming season.
The gentlemen who have the matter In
hand have progressed so far with the plans
that they have begun 10 seek for location
for the plant and 90 secure estimates for
the construction Of tanks.
The location has not been definitely decided
upon as yet. but it will probably be some
where in the Deighborhood of the Savan-
nah, Florida and Western wharves. as that
is thought to be the most convenient local
ity for handling the spirits.
The capital stock Of the company will be
$4,000, of which the greater portion has
already been subscribed, but il will require
only half this amount actually paid in to
complete the present plans the subscrip-
tions will be called in later on as it is
found necessary to increase the tankage
Most Of the naval stores fac
tors of Savannah have already
taken stock and it is expected that all Of
them will go into it. Stock is also being
taken by the operators in the territory con-
tiguous to Savannah, aud it is desired 70
have a number of them subscribe as they
fit from the system, the object Of which is
to increase or maintain prices.
Mr.. j. A. @. Carson is one of those inter
ested 10 the scheme. Mr. Carson was seen.
yesterday and gave some interesting in
formation as to the enterprise and the
benefits expected to result from 1t.
The idea now is, Mr.. Carson says, to erect
Que large 10000 to 1900 barrel tank
This, IL 10 thought, will be sufficient for the
md he uuin ha lzao ebat,
to erect two or three smaller tanks
holding only 5000 gallons apiece. The in
tentiOn is to store the turpentine In this
tank as 1t is received, giving receipts for it.
These receipts will state amount, cost OF
storage and other particulars, and will be
banksble or can be disposed Of upon the
floor of the board of trade.
THE stock OF spirits in Savannah is SCI
dom more than 20 900 barrels at one time, "
said Mr.. Carson, land with 1900 barrels
held in reserve we think this would mate
rally aid in controlling the
market aud maintaining prices.
As it is now no factor or buyer cares TO
hold turpentine any longer than possible on
account OF the danger OF leakage and as
there is no place to store it all holders are
compelled to sell as fast as possible.
Savannah is called the naval stores port
of the world and it seems that We should be
able to dictate prices, but we do not. Lon
don is the only port which is equipped with
facilities for storing and holding the spirits.
London has . capacity of about 900 bar
rels. which amount Is usually held IN tank
By holding this reserve London IL able by
bringing it in competition with our fresh
supplies and thus control prices 10 our dis
advantage. When we are able to store our
surplus here then we can maintain prices,
and MOI before. We expect to develop this
plan until we secure the cheapest possible
system Of handling and storing SPIRITS
The contract for the l2,0O0-barrel tank
will probably be given out soon.