The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-11-05
A NAVAL STORES COMBINE.
Continued From Eighth Page)

counts would be limited to one or two
banks whereas now all share in the busi-
ness. The Board of Trade, said a gentle
man VINO has looked into the matter,
might find itself in a state of innocuouS
desuetude, as it is wei known that 1t Is
practically a naval stores exchange, the
bulk Of its members being interested in
that business directly or indirectly, and
the board being chiefly conducted for the
benefit Of this business. The wholesale
merchants in all lines Of trade, who now
sell largely to the naval stores firms and
their customers 1t is claimed would also
feel the effects of a consolidation, as it
would be able to buy in large quantities
from first hands, and to furnish supplies
to its members and customers at better
prices perhaps than the local merchants,
and with practically no risk of lJss on ac-
counts Some of the naval stores M
spectors might be thrown out of employ
ment, and in fact all lines Of business
would be affected to a greater or less ex-
tent.
Mr.. ]. P. Williams Of the ]. P Williams
Company was asked if there Is any truth
in the report Of the combination. He an
swered that he was not ready to discuss
the question as to whether the plan was
afoot or to indicate in any way what prop
ositious have been made or what steps
have been taken looking toward the merg-
ing OF all tne SdNdtlildn naval StOtSS SOA-
Germs in one.
The report has it, as Mr.. Williams was
Informed. that the head of the combina-
ton would be in New York, and that it
would be from there that the affairs OF
the great cou1bina ton would be managed.
That he emphaucally denied, saying II
there should be such a combination ef-
fected it would in no manner initiate
against Savannah or injure its interests.
l. i Aa.~ ta-Nf 4
discussing the advantag S, as he sees
them. that would fclltw a great comb na-
ton of naval stores men. Those adVant-
ages. he holds, would be to both he buy
or If naval stores and the produc r, and
he is rvngly In favor Of combination.
II is his opinion that one would be the
means of regu at,ng the prices OF naval
stores and et abirg The producer 10 re-
ce We a price for them that 20 Id not only
admit of his max ms a diving but laying
up $ ne tn ng besides
The nositi. n of buyer and producer is
conbiI ed in Mr.. w Il ans, and ne says
such is the case with many Of he naval
6 ores men. He says he is interested IN
t7vo or six businesses and int,ma ed that
other buyers are producers In the same
wav. owning outright or having int r s IN
several trroent ne farms. Mr.. vii Jams
and other naval stcr 5 men would there
fore they think, be benefit ng q emselvos
as BUYERS and producers by combio ation.
Urgent need exists for such combina-
tion. Mr.. Williams holds, II Savannah Is
IA maintain it's position as the leading ma
val stores market OF the world. He says
he annreciates that the port is no longer
such natural outlet for naval stores as
Nobiie New Orleans. Tampa and Pensa-
ooia and II is TO a combination he looks
~ enable the city to retain its place as
The ostablisher Of prices on the products.
Naval stores are now, he says, bought at
Tampa. Mobile and other places az prices
that are predicated upon those that pre-
vail here. the ports handling of more
than three-ffths of the turDentne of the
country enabling it TO so fix the prices.
n Is 10 secure Savannah in this ability
~ control prices, making 1t even far
stronger. that Mr.. Williams wants the
combination. as he is confident prices could
he demanded and oh ned that would cone
far nearer making the consumer pay what
the naval stores are worth TO him and
enabling the producer 10 gain a splendid
return for his time energy and capital.
Mr.. williams holds that the effects Of
such a combination would be far Teacn.
ina He believes the state would grow