The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-02-02
NAVAL STORES OUTLOOK.
A Good Deal Of Speculation in Regard
to Next Seasons Results.

The Spirits Market Advancing, But
It is Still Lower Than 1t Was at
This Time a Year Ago-What the
Record of Prices Has Been-A Re-
duoed Crop Next Year.
Spirits turpentine sold at 2Ss< cents a
gallon yesterday This is the highest
price paid since the middle of last April,
but is still Ia cents lower than the price
atthis time last year. tits likelyto steadily
advance during the next fewudays, as the
receipts are small and the demand very
active.
The end of the turpentine season is near
at hand. Only sixty days more and the
season of 1S94-95 will open. There is al
ready much speculation in regard to the
outlook fors remunerative crop. The
past season was disappointing to the pro-
Queer Although the next two months
may inaugurate higher range of values,
the greater portion of the past seasons
crop has been shipped to the market and
sold. so that better prices will benefit but
a few operators. The year will end with
a general loss to the producers.
FLUCTUATING YEAR.
The prices of spirits fluctuated consid-
erably during the past year. In January
last they ranged from 2S cents TO 81 cents;
February, 3015 cents to 33 cents; March,
30 cents TO 35 cents, the latter range being
the highest of the year. With April, the
opening month of the naval stores year,
2715 cents TO 30 cents was the ruling quo
tation. About that time the season Of
dullness began, the stringency of money
began to be manifest, and feeling of un-
ayfn,AaH 4hror1erhn,tf ha a.
country, curtailing the demand and con-
timing business within its narrowest linn
its.
All through the summer months the
prices ranged from Pas cents to 27&
cents. In August values showed the re-
| markedly low price Of % cents, which
was lower than they have been for many
years. During June, July and August
the advent of new and strong firm of
| foreign naval stores buyers, which
brought ready cash into the market,
greatly benefited the trade, as, under
other conditions, the factors would have
had trouble in disposing of their receipts
at any price, owing to the money
stringency which then prevailed.
THE RECORD OF RECEIPTS.
The receipts of spirits since April
have been 24S. 900 casks, against 269, 900
for the corresponding period during the
year. 1hC OlOEbS WAAlCn W6I6
made by the Turpentine Operators Cen
eral Association TO induce producers to
reduce the manufacture of naval stores
had the effect of reducing the crop 10000
casks, as compared by the figures to date
Nevertheless, there has been an over
production of spirits, and prices have
consequently been low. Although the
entire receipts have been disposed of, and
shipments have been freely made,
leaving comparatively small stock here,
there is still an enormous quantity of
| spirits stored in tanks in Europe, with no
demand for it sufficient to advance the
! price.
The experiences of the past two seasons
have taught lesson to operators in naval
stores, and the coming season will proba-
| bly, show a greatly diminished crop, COM
pared with the past season as many, pro-
! ducers have been forced out of business
! by lack Of financial backing, and those
who have productive timber lands will
! greatly reduce their operations.