The morning news., 1894-08-04
WHAT The FACTORS THINK
View Of The Naval Stores Situation
as Stated BIZ One Of Them.

a Factor Comes Back at the Buyer
Who Was Quoted in Yesterdays
'3Io-ninE Esws-The Factors Say
They are Not Trying TO Corner the
Market, but Il Is the Spectators
Who Want to Depress Prices for
) Their Own Ends.
I The fight between the naval stores fac
tors and buyers remains unchanged at
. present The buyers claim that they
/ have q prospect Of large transactions
within the next ten or fifteen days
/ There is a very large stock Of spirits tur.
. pentine on hand. and it appears 10 be
simply a question of which can hold OF
F the longest, buyers or factors.
The interview with a buyer published
in yesterdays MoESING NEWS created
. considerable comment among the factors
and was generally discussed among them.
I The factors. as might be expected. do
+ not agree at all with the buyer in his
. predictions Of serious consequences if the
3 factors continue 10 adhere 10 the position
which they have taken. A prominent
! factor was seen by MoRSING News re-
I porter, and, speaking of the buyers
+ views. said:
! TIE FACTORS VIEWS on The SUBJECT.
/ The buyer essays to give the factor
/ what he regards IS very wholesome ad-
/ wee and incidentally TO warn the pro-
Z ducer against the unwise and radical
/ course pursued by the factor in holding
/ his product at price which is above its
! market value, thereby Cutailin1 an i'm
I mense loss to the producer, as well as con-
T trlDutlnC incidentally to the great injury
I Of the trade Of this port.
! As a good citizen Of this city he de-
/ slres to see certain safeguards thrown
around II 70 protect its prosperity, which
/ VIII decrease the fire risk, and he as
much as states that the factors who have
! charge Of the business of these many pro-
! ducers are jeopardizing, by their actions.
/ the property Of others by the accumula-
I tion OF this enormous amount of spirits
turpeutine, and the suggestion contained
I IN the interview inferentially is, that the
[ insurance companies should take hold of
/ this matter and refuse to give insurance
{ where so large an amount Of infammable
/ stuff IS accumulated as is now accumu-
( lated IN the various naval stores yards of
( this city.
He warns the producer that if this
! persistent effort on the part Of the factor
/ TO keep up the price is not stopped, he, in
/ common with others, Will put their agents
/ out in the country, and buy the manufac-
/ tured product at the stills and that Sa-
/ vannah will no longer enjoy the monopoly
! Of being the first naval stores port in the
/ world.
In the light of all these things which
! may come, he strenuously protests against
/ the perpeiuatiOn of a combination like
/ this. which iCopardizes Savannah's inter
/ est, the producers interest and, inciden-
! TALLY, his own interest.
! HE TAKES IT HUMoRoUsLY.
| "Now, when the factors Of Savannah
need this buyers advice as to what they
/ shall do and as to how they shall do it, in
/ all probability, he may be called upon.
| We viii not ask him to place himself
/ upon record in the public prints We will
/ seek an interview and gather from him
/ lessons Of wisdom. prudence, and econ
/ omY 10 guide US in our future career.
} Really, it seems, from the very posi-
/ tive way in which he talks, that some
! thing very bad is going to take place if
/ this thing is not stopped right away.
wonder if his interest is being much in
1 lured by this coursel ! wonder if ne did
/ not last spring sell spirits turpentine and
rOsin along for the summer and fall
months al prices below what he can buy
+ the articles for today l wonder
/ II he did not think that he might be able,
| during the summer and fall months to do
/ as he has done IN the past, to come upon
/ other individuals, whose interests are
/ similar 10 his own, and manipulate the
| market and buy it down at a figure at
which he could make a profit on his pre-
/ ViOus sales. II that is the case, we can
/ very readily see how anxious he is that
/ the market should be reduced to a basis
at which he can fill his short interests at
profit.
What right has the buyer to sell the
! product of the naval stores producers
! without their consent, at a fixed price be-
fore the same is marketed, and then de-
| mand protection because he made a mis-
take in selling too cheap?"
THE STOCK NOW on HAND.
"Have the consumers much stock on
/ hand at present." the factor was asked
No, " he replied, ''the consumers have
/ from 30 600 TO 10000 barrels of spirits less
on hand to-day than at the same time last
/ year. The American consumers and the
/ London dealers have very much less than
| usual
How do you account for the buyers
holding off so long them" was asked.
The consumers of naval stores do not
regard the prices at which we are hold
ing spirits turpentine high, but the ma
nipulations of these parties who have
/ sold short at low prices have deferred
the consumer from coming into the mar
ket because of their onering in small
. quantities at prices below the Savannah
market Along with these small offer
iuRs, in a basis of 26 to 2615 cents, they
have advised the consumers to hold off,
that the combination in Savannah would
very soon break and that when this was
once done they could buy the
product at their own price
Surely this advice was not given in the
spirit of beneiting the consumer. The
whole fight has been upon the line of in
ducing the consumers to hold off the mar
ket for so long time as to force the
factors TO give way, so that they who had
sold these large quantities of spirits for
the summer and fall months at disas-
trously low prices could come into the
market and buy at figure which would
insure them a handsome profit on their
investments. This is the whole fight.
TAKING NO RADICAL STAND.
"The factors have taken no radical
stand in this matter. They have simply
demanded for their patrons prices which
should prevail predicted upon supply and
demand. 1t has bern no purpose on the
part of the factors to corner the market.
There has been no idea advanced at any
time by any one connected with US that
we would exact prices above what would
be equitable between the producer and