The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-04-01
NAVAL STORES FALL OFF.
The Receipts at Savannah COnSidera-
bly, Less Than Last Year.

The Season for Is92-9a Ended and
the New Season opsned-The Re-
suits of Overproduction-Th Efforts
to Keep Production Down-Predic-
lions for the New Crop.
Savannah's naval stores season of
1Sg3-94 ended yesterday and the new sea-
son opened.
The receipts of spirits turpentine up to
the close of the season were 259, I'll casks
against 277, 6l7 casks for the proceeding
season, Of these, 256,sS9 were shipped
either coastwise or foreign. leaving a
stock of 10, Pos casks on hand, against Z
443 casks year ago.
The receipts of rosin for the crop year
just ended were 953,Ol1 barrels against
1889, l9S barrels for the proceeding sea-
son. The total shipments were 9l5,623
barrels against COZ, $50 barrels the pre-
vlous year. The stock on hand and on
ship board at the close of the season was
1859 barrels, against 6S,573 barrels for
the preceding season.
While the receipts and shipments Of
naval stores have been less than they
were for the season of 1929, which was
the largest season ever known in Savan-
nah, there has evidently been an over
production.
THE RESULTS OF OVER PRODUCTION.
The markets have been dull for spirits
turpentine and were made on too small
margin for reasonable profits. The only
redeeming feature in the market last sea-
son was an occasional spirit in pale rosius,
which contributed considerably to equal
izing the low prices of spirits, and giving
some financial encouragement to the pro-
Queer.
The efforts of the factors and producers
to reduce the production have been sue
nessful to a considerable degree, but
prices have, nevertheless, remained low,
and there is no immediate cause for a sub
StantlaI advance, as the stocks are daily
increasing, and the demand is limited.
The season has been marked by several
notable features in the naval stores bust
ness. Spirits fluctuated greatly, having
been as low as 23l6 cents, and the boom in
pale rosins caused producers to anticipate
high prices this year, and therefore de-
eide to cut new boxes to produce an
adequate amount of pale resins to meet
the expected demand
The storm Of last August demoralized
the trade to some extent and caused con-
siderable trouble with the stocks on hand
at the naval stores yards. II was some
time before differences were adjusted.
THE FALSE PACKING.
There has been a continued fight
throughout the year between the buyers
and sellers regarding false-packed rosin
and Irregularities in gauging spirits tur-
pentine.
There were many hot discussions as to
the rights and claims of exporters as to
the condition of packages when delivered
for shipment, and many arguments among
the factors as to the depressed condition
of the market throughout the year.
Action has been taken by the board of
trade to adjust all differences by employ
ing supervising inspector, whose duty
shall be to see that the laws regarding
weighing, gauging, cooperage, sampling,
etc, are carried out to the satisfaction of
all interested in the business.
Some of the factors have complained
that the value of naval stores has been
deprecated by the exporters, who made
the prices to suit themselves, and
through speculation have reaped the
profits, which rightly should go to the
producer. There is a movement now on
foot to organize a stock company COM
posed of factors, who claim that. as they
furnish all the capital to operate the tur-
pentine farms, are producers in fact The
company proposes to build tanks for
the purpose of storing spirits tur-
pentine, and in this way be
enabled to control the stocks and
offer them for sale direct to consumers,
instead of allowing the profits to be
reaped by the middlemen. There has been
considerable agitation in the matter, but
nothing definite has been decided.
Predictions as to the results of the
coming season are, as usual somewhat
varied but the old story of supply and
demand will continue to regulate the
prices whether the coming crop is large
or small