The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-09-11

4
I than usual of the difference between lhs
gauge and actual capacity OF the c dshs-
I To this extent. at least, the cohlpiia'iol
/ has worked an Improvement
| ROSIN.-In rOsin the year opened Win
l discouragement. There was decilne tnt
opening week OF IL 20 Is cents % near -
I an grades. Prices were low anu the oys-
/ look unsatisfactory, there being an lh.h-
nation on the part Of buyers TO hold TOT
a still further drop Zach week iof some
| time seemed 10 bring some lower quota
lions. Toward the close Of september a
slightly better feeling was apparent ana
part Of the decline was recovered Trad
ing had been good al the decline ana rae
tors carried little stocks me ursl week
in October brought a substantial advance
in values, with an exceptionally good de-
mand for pales and mediums, for Wnich
considerably higher prices could nave
been obtained II the factors had been IN
elined to cut them out. This was the be-
ginning Of a decidedly better feeling in the
rosin market. ana 10 was not long before
the fun line felt the Improvement. Octo-
Der closed with nearly all grades above
the opening quotations OF the month The
advance IN pales and medium ranging
from . to 50 cents. Even then. though, the
pale grades were much below the prices
that had prevailed In previous years, while
the medium grades ruled very low. The
grades were so close together that II was
apparent that either pales must advance
or others decline The latter came about
the middle Of November, but was speedily
followed by an advance In almost all
grades. The market fluctuated cOnsidera-
bly, throughout November and December,
but was mainly characterized by an ex-
cellent demand for pales, which shot their
quotations up in the middle OF December,
W. ". being sold at $3.50: ". G. at s.. %
and at $500. Much dissatisfaction was
expressed about this time over the fact
that sales we're frequently made for sew
eral days at much higher prices than the
oheial quotations, creating distrust in this
market The shipments had been light,
and about this time the stock here passed
10000 barrels, one Of the largest, n not
the very largest, stock Of rOsn ever car
ried at this port.
The big prices for pales were not des-
tined 70 continue long, and the end of the
calendar year found nearly all of the adj
vance lost. as result Of unusually large
receipts OF those grades, il was said. The
The receipts Of rosin for the twelve months
ending Dec. II, were S03.6S7 barrels; the
shipments, SO9S66 barrels.
The new year opened with an unusually
large rush Of rosin TO market. There was
a good demand for the lower grades which
was destined 10 continue the chief char
acteristic of the remainder of the period
under review Seldom before. II NAV be
said In passing. has there been such an
uninterrupted demand for all the common
resins that reached market. As a result
OF thls these prices have been the most
satisfactory in years, making up for the
low prices OF pales which, before the close
of January had declined 20 cents, and
with almost cessation Of demand at
every appearance of an advance. Bad
weather part of February and March
helped the market somewhat but II was
evident that the paying of somewhat bet
ter prices was due 10 circumstances
that would soon pass away. During
March the market was made a plaything
OF and prices Of pales were pushed up and
pulled down on small purchases. The
quotations meant nothing, no one being
able to get for large quantities anything
IKE the. figures at which pales were bull
The close of the naval stores year.
March 81, showed receipts at Savannah
OF s15 l64 barrels of rosin and shipments of
lOO9. 15S barrels
Early in April the pretense having as
quotation prices far higher than could be
obtained was abandoned and the market
was soonaon a trading basis. There was
a considerable decline on the lower
grades, but II was largely recovered
within few days. Resins continued to be
bought freely, with commons especially
though there might at Intervals be fiuc-
tuations with a downward tendency, the
lower grades would continue to COM
mand high prices and take care of them
May opened with all resins but paies
In good position, and a stronger feeling
OF confidence IN regard 70 them. ii and
below, during considerable part of the
month, were higher than at the same pc
Rod in any OF the five previous years at
least These grades have been especially
strong since spring and have been fire.
quently referred to as the salvation of
the operators. May on the whole was a
month OF satisfactory trading, the re-
ceipts being absorbed without trouble
June opened briskly, except as to med
iums. The month was marked by a squirt
IN pales in the early part, but IL soon
subsidized. SO. good was the demand for
common grades that factors could easily
have obtained 10 cents more for them II
they had been inclined to cut them out.
Rosin poured in In larger quantity in
June than in that month in any pre-
vious year. New records as a matter of
fact, were established not only for that
month, but for July and August as well.
July and August also brought booms in
pales. but in each instance the movement
was speculative and short lived. one
buyer squeezing another, or some such
short lived course, working for an ad-
vance. Substantial advances on X and
below made July give satisfactory results
TO factors and operators. Part of the ad-
vance was lost early in August. The
Withdrawals of buyers from the market
for a few days led to an accumulation
that sent all prices down 10 cents. When
trading was resumed after this the mar
ket huctuated, losing and regaining, but
closing the month in fairly good shape.
The seeming weakness of mediums, OF
which considerable will be marketed dur
ing the remainder of the year is not a
pleasing feature of the outlook. No one
places much confidence in pales A
buyer may find II to his interest now and
then TO hoist them up temporarily. Low
er grades are expected to hold theil
ground almost as well as they have done
although they form the great bulk of the
stun yet TO be marketed. The dis1nclina
ton had existed with few exceptions
to take mediums, makes them seemingly
an element of weakness.
Taking the entire year under review
into consideration the financial results
are understood TO have been better thar
for the same period OF 1S93-9i.
The receipts for the twelve months
ending Aug. 81 were l,Oi3,54 barrels; tn,
shipments, /, 026, l57 barrels. The stock OF
hand at the close of Aug. 81 was 12l, "a
barrels.
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