The morning news., 1894-08-03
WHAT A BUYER THINKS.
The Naval Stores Situation as Viewed
From His Standpoint.

He Predicts Trouble for the Producer
and Inland Buying as a Result of
the Movement-Two Barks in Port,
Chartered by the Factors, Which
May Be Loaded Next Week-Heavy
Western and Northern Shipments
Predicted for tho Next Two Weeks.
To all appearances the naval stores
fight has not yet been concluded. The
buyers are taking a determined stand,
and continue to say they have no orders
for turpentine at % cents a gallon.
One of them said yesterday that very
little had been said about the buyers side
of the contest, and on this account the
impression had been spread that the fac
tors were winning everything, hands
down, which, he says, is by no means the
case
THE reported large sale of spirits at
2S cents, " he said, "was not made at all.
Only 600 barrels were sold at % cents
to place the market, while 10000 barrels
were sold at 271< cents, instead of 10000
at q cents. as was reported. This is the
true state of that deal, and instead of
holding out at % cents it can be seen that
they did not do it from the start.
PREDICTS INLAND BUYING.
"The factors are hurting themselves
and the producers by the stand they have
taken to greater extent than they will
ever be able to benefit them. The pro-
ducers will suffer from the reaction which
is bound to come on account of the
heavy stocking of the port The action
of the factors will lead to interior buying.
! would not be surprised TO see agents at
almost all of the croSs-road towns within
a comparatively short time, and the re-
suit will be TO the detriment of Savannah
as the first naval stores port OF the world.
Consequent on this heavy stocking of
the port are dangers and losses which
ought TO be taken into account. With
62, 600 barrels of spirits here the total
leakage must be something unusual,
while the insurance being paid out is rap
idly piling up. The warehouses are over
stocked, and there are cars which cannot
be unloaded With this state of affairs
comes the danger from a fire, which,
should it break out in this large quantity
of spirits could hardly be checked unless
caught in its very incipiency, and which
would be a terrible menace to a great
deal of the property of the city.
The buyers are not going to take the
spirits at the price quoted, and they are
not in as great need of it as the factors
claim.'
HEAVY DOMESTIC SHIPMENTS PREDICTED.
One OF Un6 factors Sd1u yesterday JudJ
they had chartered two vessels, the barks
Noe and Emile, which would probably
be loaded by the first of next week, ana
that they would ship the stun direct.
I'VE will sell in a moderate way" he
said, lat IS cents. The Iris will clear in
q day or two with $500 barrels from this
port, and with $500 barrels from Viii
mington, which will go to Antwerp.
Heavy shipments TO the west and by
the coastwise steamers, may be looked
for in few days. The business is not ac-
tive as yet by any means, but we are sat
isfied it will hold its own. All the avail
able freight room on the New York
steamers has been chartered for the next
two weeks, and it is highly probable that
this freight room win be loaded with
spirits of turpentine."
another factor reiterated the state
ments made with regard to the large deal
and said the amount sold was 10000
| barrels.
From the statements made about the
| heavy domestic shipments it looks as if
the Standard Oil Company had a band in
the transaction, as this concern is known
to do about the largest domestic shipping
business in spirits This, too, is being
talked among some of the buyers. 1t re-
mains as yet to be seen what will be the
outcome of the situation.