The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-03-11
TURPRNTINE MEN TALK.
ANY Attempt to Increase Railroad
Rates to Meet With Opposition.

] Any Attempt to Increase Railroad
Rates to Meet With Opposition.
The meeting Of the turpentine men in
| Waycross last Wednesday. an account OF
4 which appeared in the MORNING News,
has been widely discussed by the naval
stores men in the city, aud beneficial results
are looked for.
! An effort is now being made by parties
here 60 induce the Savannah, Florida and
/ Western railway 70 erect tanks for the
storage Of spirits OF turpentine on their
/ whRrves. Whether the company will
| do this remains to be seen. The
officials say the proposition will be consid-
cred, but they will not say whether the
tanks will be constructed The operators
heartily Endorsed the proposition at their
meeting on Wednesday, and the factors
here are unanimously IN favor OF IL, as it
prevents leakage and other evils when the
turpentine is stored in casks. A well-known
turpentine man said yesterday:
lit Is hoped the Savannah. Florida and
W estern people will see 1t TO their interest
TO erect the tanks, as it would transfer most
Of the speculation from London to this
port where it properly belongs. Savannah
Is behind hand IN this matter, ana the
tanks should have been erected ten years
ago."
The matter of the proposed increase in
freight rates was also discussed az the Way
cross convention, and resolutions were
adopted protesting against the advance. In
speaking of the matter the same gentleman
remarked:
''Any attempt to increase the rates of
freight on naval stores from the interior to
this port will be met with strenuous organ
lied opposition. The cost Of production is
constantly increasing owing TO the fact that
the stills are being moved farther from the
lines of transportation, as the timber near
the railroad is exhausted. The producers
cannot afford 50 pay more, and will be pre-
pared to show why when the time comes"
The market price for spirits Of turpentine
has rapidly advanced during the past week =,
closing last night at "a cents, firm. The
factors are said 70 be bare Of stock and a
further advance would benefit the producers
but little. There are S,710 barrels in stock
tonight, Of which probably 1900 swill be
shipped to foreign points shortly. Probably
1000 barrels more are on ships or on the
way 60 vessels for domestic account. The
remainder of the stock is mostly in the
held for account Of their northern connec-
tions.
It is generally conceded that the crop will
be a late one, and higher prices are expected
within the next thirty days. There does
not seem to be any short" interests, all
concerned seeming TO be friendly TO an ad-
vance. The market may be safely called a
"bulln one.
Some producers have sold portion of
their production for 800 cents for delivery
during May, June, July and August. These
transactions will probably reach z, 900 or
5000 barrels. Factors have large orders to
sell at 81 cents for these same months, but
the buyers show no disposition to pay that
figure.
Two months ago London sold spirits for
delivery during the summer months at 30
to 80 cents, but recently they have paid
purchasers from 70 cents per gallon profit
TO cancel their contract.
From some parties who attended the con-
vention of the meeting in Wayoross it is
learned that the operators represented had
cut not over So per cent. Of the number of
boxes they cut last season. tits thought
that operators not members Of the associa>
ton, and consequently not bound by any of
its edicts, have out a larger percentage than
those in the association. Those claiming TO
be posted say the cut will not exceed 65 per
cent of last years crop.
The receipts for the ensuing season will
depend altogether upon the number of old
boxes worked. If the price buyers are now
paying for futures is any index to prices
that will rule during the summer. ID is
thought there will not bs as many old boxes
worked this year as last.