The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-09-16
SAY THEY WILL RESIGN.
Naval Stores Buyers Nettled at The
Action Of the Board Of Trade.

willing to Submit and Threaten to
Withdraw in a Body-They Say the
Factors Take Advantage of the Fact
That They Have a Majority on the
Board Of Directors and the Buyers
Rights Are Not Respected.
Although the board Of trade held a
meeting yesterday and passed a resolu-
ton which it was supposed would settle
the differences between the naval stores
factors and buyers, there is very little
more light on the situation to-day than
there was a day or two ago.
The result Of the meeting Of the board
was the passage of a resolution fixing the
charge of cents per barrel for rolling on
the buyer, and the buyer is making strong
protest against such a rule. So strongly
is the objection made by the buyer to any
such rule that there was much talk yes
terday of all the buyers resigning in a
body if this rule becomes a law and is en-
forced. The buyers are very much pro-
voked about the action, and they contend
that il was done through the power of
the factors, who have a majority on the
board of directors.
THE NEW RULES PASSED.
The new rule passed makes the naval
stores buyer responsible to the railroads
for the amount of the rolling charge,
which is cents per barrel. The rule
reads as follows:
The charge OF cents per barrel on rosin,
and cents per barrel on spirits of turpentne
Tor storage and abor for the calendar month
IN which received shall he paid Jointly by the
cOnslgnee and the party to whom ii shall be
finally delivered or this charge the owner
or lessee OF the yard shall collect cents per
barrel on ToSin, and 4 cents per barrel on
spirits OF turpentine from the consignee on
demand, and shall collect cents per barrel
on rosin and ) cents per barrel on spirits of
turpentlne from the party to whom the de-
livery shall be finally made. In case of loss
by FIRE or other causes for which warehouse
man is not res onsible, the charge provided
10 be paid by party 10 whom delivery is made
shall be paid by the party in whose name the
rosin or turpentlne Is stored at the time. In
addition TO these charges cents per barrel
on rosin and cents per barrel on spirits of
turpentine shall be paid for each additional
calendar month that the goods remain in
storage, which charges shall be paid by the
party In whose name it stands upon the books
OF the owner or lessee of the yard at the time.
The above rule was adopted by the oard of
directors of the Savannah Board OF Trade at
their meeting held this day and ordered
posted on the bulletin board for ten days,
after which II becomes law, and will be
known as rule 2l Of the general rules Of the
naval stores trade.
TO BE LAW IN TEN DAYS.
As will be seen, this rule will not be-
come law of the board of trade Cor ten
days. In the meantime, it is understood
that the factors are to pay the rolling
charge on rosin and turpentine.
Those present at the meeting at which
this rule was adopted were Messrs. w
Q. Powell, }. B. johnson, H. T. Moore, @.
G. Dahl, j. II. Hunter, j. M. Dixon, G. ID.
Baldwin and Capt. ID. G. Purse, presi-
dent, who presided.
Mr.. H. T. Moore was the only pro-
nounced buyer who was present, and it
seems he had TO meet the arguments of
the factors unaided He opposed the
adoption of the rule very strongly and did
everything in his power to secure vote
against 1t, but 1t was adopted by the vote
of all present. with the exception of his
own.
The buyers are very indignant at the
passage of this rule, and they are making
all sorts of threats. The factors are sat
isfed, ana they say their fight is for the
port, as the buyers are going into the
country with the report that the port
charges have been increased and it will
be cheaper for the producer to send his
stuff west than to have il brought here
This report, which the factors claim has
no foundation whatever in fact, is said to
be doing the port much damage in the
quantity of the product that is being car
ried direct from the still to other parts of
the country.
THE BUYERS MAY RESIGN.
Mr.. Jas. J. Farie, a prominent BUYER,
has some very pronounced views on the
subject. He says in his opinion all the
buyers will resign from the board in a
body.
lit won't affect US materially said
Mr.. Earle, as under the board of trade
rules we can make our contracts with the
factors independently of these rules if we
so desire. The buyers are tired of Czarism,
and do not propose to stand il much
longer. They are all indignant at being
treated in such manner. The board
does not recognize our sales, and they are
not posted as such simply because we are
| buyers. The factors are in the majority,
and we do not have our rights. If the
factors want to sell us the goods they
have got TO sell them minus the 3 cents
per barrel. There is no rule that can
force US TO buy unless the price is salts
factory"
MR.. sHoTTER's SIDE OF 1T.
Mr.. S. p Shotter, a we'll known BUYER
and exporter, is very indignant at the
| action of the board, and predicts that it
will result in the resignation from that
| body OF all the buyers.
The board of directors of the board of
! trade" MIR. Shooter said yesterday, held
meeting without any notice TO the naval
stores trade and there was present one
! buyer, three factors and several others
not interested in the trade. Without al
lowing time for any discussion by those
interested in the trade they passed rule
to the effect that the exporters are To pay
for this handling of naval stores, which
| is in my opinion, simply farcical
II do not consider that this is a matter
which comes al all under the jurisdiction
of the board of trade, but was not given
the privilege Of expressing an opinion. At
the meeting the exporters We're in the
large minority and were simply outvoted
i suppose If an exporter of cotton were
called on through rule of the cotton ex-
change to pay 10 cents a bale for the de-
delivery of cotton he had purchased and
for which he considered himself entitled
TO free delivery, he would think such
ruling rather extraordinary, TO say the
least.
STATES 1T AS AFACT
II see by the MORNING NEWS that some
one says u is not the case that the factors
charge the producer cents per barrel for
! custody aud handling ! re-affirm that
such is the case, and furthermore say. no
! consideration has ever been given for this
charge. This Is the cents which the
/ factor should pay but has never paid up
/ 70 sept. !, which the railroads now ask
. d i'm 30 a L.