The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-09-11
SAvANNAH'S TRADE YEAR.


mated OF. the $1,000 casks sold Cne-hali
went 10 Paterson Downing < Co. and the
c+bar balf 10 Nr LANES Farie. repre-
senting London house on Ihursday
morning the sales were bulleuned az the
Board OF Trade mere va lIl nue. 49,
latiOn among buyers ana even aHouS Ia
tors, there was feeling or Ielel siistl
great burden had been lifted from .lelf
shoulders, even though they put parliis-lly
united for. This was pracucaily the emu
Of the combination. The actual cash IN
VOWED in the final transaction was ABOUT
$4,000. II was the largest days business
the trade had ever known
Factors were comforted with the thought
that the average price OF all sales Inale
by the combination was over % cents. Al
lowing even literally for leakage ana the
additional expense Of carrying such ehoI-
nous quantities OF spirits the net results
were undenlabIy better than the previous
year when the price had ranged as low
as % cents Under the combination IL VS.
shown that nearly lOUO casks hau Deeil
sold al 26ia 10 p cents.
Relieved of the incubus Of enormous
stocks the market reacted al once anu on
the succeeding day small sales at - cents
We're reported followed by sales at "a
10 ISL cents. II was generally UNDERSTOOD
that a condition of the big sale had peen
that all of the spirits should pe eNpOTteu
foreign. This lert but small stock on
hand to supply domestic demands. Win
in ten DAYS after the sales referred 10, the
quotation was % cents, with an active 10
nestle demand, absorbing all receipts;
This demand was supplied by the close
OF September ana OclU@eI OHtltA Win
the market weak. In the nrst week 81
that month spirits had declined again 70 =
cents. AT this figure the demand reNlNeH'
but il was not until after the mlddle o. INC
month that the lost ground was recovered;
Then the market began nuctuaung ana
vexatious course ranging IN the last week
Of October from 26A to 25l2 cents ului
the last week of November the market
was maintained at 25A TO 29l2 cents IL
then went of to 25 cents, with good de-
mand at that figure. II was dlHc9lt
- fore he
greater part of December 25A was OBTAIN
ed. The close of the calendar year showed
months of 1894 had been 24,SO casks OF
spirits, and l.t02l6O barrels OF rosln, anu
the shipments 2jG gs5 casks OF spirits ana
991, S51 barrels OF rosin.
Receipts were small and there was good
domestic demand. AS a result OF these
more favorable coh9lu0en1s ny me- a, NJ
speedily advanced TO 2GQ25A cents. Al the
middle OF the month the price OF spirits
advanced still more, reaching zf52 Genus,
fuctUating from that to ala and closing
cy Of the market was then strongly bulllsh
Early in February it advanced to 2ole
cents. Before me mludIe OF me ihollt 5 ~
had reached 29la cents, and by the end OF
the month the quotations was BIZ cents at
which March opened
During the cutting season several I'M
usually cold spells had interfered greatly
with operations on the farms. Wnle IL
was generally understood that the Oper-
q
larger cut than the previous season. IL
was hoped that these setbacks would so
materially reduce the crop as TO prevent
It's being in excess Of that OF lS9i-95.
In February and March there was tone
Of confidence among the factors as to the
future, while the cold weather at SUCH
frequent intervals unquestlonaDly ,held
down the cut yet II was apparent later
in the year tthat IL had not done so to
the extent that factors anticipated, and
the result is that the present crop not
90 ~ der IS
but now promises to be the greatest on
record.
been steadily diminishing March opened
With about 5, 200 casks here, and but 1887
casks at all the naval stores centerS or
the country. Receipts continued light; the
price shot up by successive advances until
II reached 80 cents. Toward the close or
the month il fell off and the beginning
Of the new naval stores year Apri ]. FOUND 20
Trade statistics for the year ending March
81 showed receipts of 26S,259 casks and
shipments of 257,l72 casks.
The new naval stores year opened with
one of the smallest stocks on hand at Sa-
Vannah since the port had assumed a
position OF commanding importance IN tne
Industry, but 2,i2l casks, while at the six
principal ports Interested in naval stores,
Savannah, Wilmington, Brunswick,
Charleston, New Orleans and New York,i
the stocks aggregated but 5,s4e casks the
smallest in many years.
II was with this suspicious statistical
condition, added to o much smaller stock
at London than on the same date Of 1891,
that the new naval stores year opened.
Despite this the market became depressed
and disappointing.
week Of April the price Of spirits fell 4
cents. Until the close of the month the
market fiuctuated from 27l2 TO q cents.
receipts we're light, but the demand was
hardly sufficient to absorb them.
May opened al q cents, declined in its
second week TO 70 cents but with the OPEN
Of
their activity, and q cents was the quo
tatiOn on a number Of days. Toward the
close Of the month 27le cents was paid,
but the demand subsidized at that figure
and q cents was the ruling quotation when
June came in. Considerable sales of fu-
lures for June, July and August were re-
ported contaminated at 26 to 2Tl3 cents
during May The aggregate of such con-
tracts Is said to have exceeded 10000 casks
During the first half Of June but little
trouble was experienced in disposing of
receipts Of spirits at Y cents. Receipts
had become so heavy by that time, though,
that fears became aroused again as TO the
rela tive size OF the crop. The market took
q downward turn, but lost only "a cent.
June's receipts established q new record
for that month being 25O casks IN excess
of the highest previous receipts for the
month. Despite this, though, the receipts
for the season were still nearly 100 casks
behind those of 1ss4-95 to the same date.
Much interest was manifested as TO Ju-
ly's receipts and when spirits began early
in that month to pour into market IN
much larger quantity than the previous
July the effect was at once seen in a
steady decline in price. The opening quo
tation of the market was 265s cents. The
European demand had slackened off great
" and the condition of the market abroad
was decidedly weak. The domestic de-
mand failed to take on sufficient new life
TO absorb the increased quantity of spirits
offered for sale The end of the first week
of July found the quotation 26ls cents.
The receipts for the month by the close OF
the second week. were over 300 casks
greater than in July. 1894, and the price
had fallen to 25& cents 1t was the old,
old story of an excess of supply and the
inevitable result. For another week the
price was maintained at 25lb cents. Then
Ii lost y cents and closed the month at %
In view of the fact that the receipts fol
the month reached the enormous total OF
Al 266 casks, factors could not complain al
the course the market had taken. The re.
ceipts for July established new record
They were not only the heaviest for that
month, but were the largest on record fol
any month in any year.
Fortunately shipments kept pace with re
ceipts, otherwise the trouble of the pre-
vious year in handling stock would have
been experienced. BY this time the re
ceipts at Savannah from March had gone
1900 casks above what they were TO tn,
same time in 1894, and as the receipts at al
the other primary ports merely about bal
anced those of last year II was eviden
qoinn he larger