The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-09-11

For the We ar ending Avg. 81 1894. the re-
eeipts we're 26S 629 casks Of spirits turpentine
and 900 1855 barrels Of rosin, an increase OF
6,344 casks Of spirits turpentine and 1880
barrels Of rosn, as compared with the year
ending Aug. 81 1893.
foreign shipments show an increa Sc Of 49,
3fS casks of 81 irits turpenttre and 5,l75 bar
| rels ofrosin during the year
Domestic shipments show decrease of 49,
| 262 casks of spirits turpentine and an in
crease of 81, POS barrels of rosin, as compared
with the year before.
The item of increase in amount OF rosin,
credited in the ia lie as domestic shipments
during the last ST. months may need ia be
explained The comparison shows that dur
ing the corresponding period in. 1898 the resin
shipments to domestic ports we're 6557 ar
rels while the shipments for 1894 shows o.
676. During the past six months a very large
| percentage Of the shipments to Europe went
| via northern poIt thus accounting for he in
crease in the credit to domestic exports.
The past year was quite an eventful one in
naval stores, and many surpIi 3es were
| created in the market. During the fall al d
| winter months prices for spirits turpentine
| and ro5in fiuctuated considerably. About
| the average amount of bus ness was done.
| however. There was contlnD al disturbance
/ in the market rezardins false pa, ked rosin
| and irregullriues in gaug NJ spirits turpen-
/ tine. Many hot discussions took place be-
| tween the buyers ana factors as TO the rights
| and claims OF exporters regarding the Condi-
| tlOl Of packages when delivered for shin
1 ment. Action was taken by the Board of
| rade to adjust all differences by employing
| supervising inspector, whose duty ii is to
| see that all the laws regarding Weighing
| gauging, eooperage and sa npllug are car
| ried out to the salts. a ton of all
| interested. Since the employment of this In
| spettor there has been but little com plaint
| The year, taken altogether, was fairly sat.
| isfaetory 10 the producers IS yecially as re-
! CARDS rosln, which brought fair price
| throughout the year All spirits disposed OF
has been at prices as high as was reasonab le
TO expect though In endeavoring TO hold out
| for good prices, there has been a great accu-
mutation OF stook at this port.
| The most notable event occurring during
the season was the formation Of the factors
"tom blnation, or trust during the closing
| days of March. from the numerous and sue
| cessful efforts made by the buyers during
| March to bear the price of turpentine. it be-
| came evident that sales Tor future delivery
| had teen made at pri, eS below those then
prevailing. Factors thought he price low
enough, rarely affording the producer to real
| lie cost OF ma fracture Lower pr, eS meant
| great losses to the II d .stry, and no reduction
OF the Indebtedness of producers TO the fact
ors.
Realizing that unity of action was neces,
sary, the ia tors met and completed a thor
ough or aalZation. Sales Of spirits had Teen
made at y and , = the dav the organiza.
ton was elected ne time, therefore. was
servatively, the selling price was gradually
advanced to 2sc, at which figure the entire
stock In factors hands was so d. At 2-lsc
from 6,oOl to 100 barrcIs were sold. I he sa res
at 29c and 2912c we're Inslguiu cant. StO X was
rapidly accommodating in the ia tors hands
and with the persistent staying out powers of
the buyers, the market gradually Lecame top
heavy.
Sales have been made in large blocks down
to &c c, which was the market prl, e on Sent
]. 1t is thought that as soon as domestic con.
| SuInerS are convinced the IOtt0m has
reached liberal purchases viii ue made and
the movement tecome once more Urisx.
From developments during the last few
moathS it is believed that If the IA Tors had
not taken the DO stand they did, sprl S
would have sold down to 20 cents In fact
early IN the season New York house pre-
dlcted that spirits would sell lower than ever
before.
The Savannah factors made the firht gin
gle HANGED and alone, the re, e.yers at other
ports giving them no assistance whatever.
On the other hand they kept their quotations
from 70 cents per gallon below this market
in order TO insure quick sa es and TO avoid
carrying stocks. IN immense amount OF
money was kept l,c ed up in naval sores
throughout the summer. AT one time the
value OF factors stocks Of spirits turpentine
and rOsln were estimated 10 De over $40 OOJ.
stocks are still large bat there Is now a
better demand and "A hrmer teelii & n the
market aiace the opening of the resent
naval stores season on April I the sales have
amounted to about 100 90 casks at prices
ranEing from go cents 10 IS cents per gallon.
This is against 10000 casks sold during the
corresponding period N 1898 at prices Ringing
| from p cents TO 30 cents
The factors and producers are more thor
ouRhly united than ever before and have de-
| terminCd TO get in better position ia the
| future 10 maintain pr VOC. They will eudeavor
10 reduce the production next season, so that
the market w.H e governed entirely by
! that tanas viii e ere .ted here. ana any sur
! Plus Will then be held Without much expense.