The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-11-27
HAS NOT BEEN ABANDONED.
NAVAL STORES COMBINE STILL IN
DER CONFEDERATION.

NltiIAmS thinks Ihat the COmbt-
nation VIII BE Effected and Says
That 1t VIII BE on "a cooperative
Basis, Insuring Full Protection to
the interests of the Producers.
Control VIII Not Go to Wall Street,
But VIII Remain in the Hands or
Southern Men.
The effort to bring about combine of
the leading interests in the naval stores
industry in this section has not been aban-
doned. There were reports current last
week in fact, that the deal was nearing
completion and that there was no longer
a doubt but that it would be a 60 These
reports could not be confirmed, but it was
very easily ascertained that the project
has not been abandoned. Whether the pro-
Ject as now contemplated is the same as
first proposed is somewhat doubtful.
Leading naval stores factors now assert
that there was never any intention of
forming trust or combine, and that the
question now under consideration is simply
the formation of a cooperative company
for the benefit of all concerned.
THE plan for a union Of The leading ma
val stores interests is still under consider
atlon," said Mr.. J. P. Williams "and 1
have reason to believe that a satisfactory
understanding will be reached at an early
date. The plan has not assumed definite
shape as yet At least, there has been no
attempt to work out the details. No prop
osition has been made to me for the inter
ests 1 represent Whether propositions
have teen made to others cannot say"
When the plan is perfected, as I be-
lieve it win be- ut will be on a co-opera-
tive basis. You can state positively on my
authority that no arrangement will be en-
tered into which will not guarantee full
protection to the interests of the produce
ers Every producer who desires to do so
will be given an opportunity TO become q
stockho,der on the same terms as the
factors and have no doubt that we viii
be able to show them that it wil be to
their interests to do so. When the plan is
made known to the producers 1 am salts
fed that the majority will be ready TO take
stock 10 the extent of their means.
You can disabuse the public mind"
said Mr.. Williams, "of the idea that there
Is any scheme on foot to deliver the ma
val stores industry to any Wall street
NiA4uG VI syHulCdl6. LOT one WOuIQ never
be party to any scheme which would
take the control of the industry out of the
hands of Southern men. We are not such
remorseiess money grubbers as that. 1
think l speak for the leading spirits of
the naval stores business when 1 say
that we have enough sentiment about us
not to be willing to place our friends and
customers at the beck and call of Wall
street. When the organization Is perfect
ed, as L believe it will be- you will find men
friendly to this section and the protection
and development of it's interests in control
THE naval stores factors of Savannah
are not asking any one to buy them out
We are more independent than that. We
are about as well able to take care of
ourselves as any class of business men
In the South. VIVA lever ARRANGEMENT Is
entered into will be for the purpose of
protecting the industry by preventing the
destruction of our forests without ade-
quate return to our people and insuring
better prices for our products. Such pol
icy could hardly fail to be otherwise than
beneficial to the producer"
Other naval stores factors did not talk
so readily as Mr.. Williams. Messrs
Baldwin and MCNEIL, >of the Peacock
Hunt Company, dlsclaimed any knowledge
of any recent movements in the direction
of a combination. President w. C. Pow
ell of the Savannah Naval Stores Com
pany said that he had heard nothing more
of the matter during the last week
mo proposition has been made TO us to
take over our interests" said Mr. Pow
ell, nor would we consider such a prop
osition, if made without calling a meet
ing of our stockholders and submitting the
matter with them The question of enter
ing into any such arrangement would be
left entirely 70 the stockholders"
Mr.. Powell agreed with Mr.. williams
that any arrangement or combination
which might be entered into would have
TO be upon a cooperative basis and one
which would give an equal showing to
both producers and factors. A corpora
ton on the plan of the Savannah Naval
Stores Company on an enlarged scale
would be about the right idea, he thought
Mr. Carey 3. Townsend, who has charge
of the naval stores department of the
Standard Oil Company, was in the city
Yesterday. 81 am very positive that the
Standard is not behind the move for a
consolidation of the naval stores industry"
said Mr.. Townsend. Il have no authority
from the heads of the company for maxi
ing this statement, but from my knowl-
edge of the situation 1 am satisfied that
the interests of the Standard do not lie in
that direction
Mr.. Townsend has the honor of having
been the pioneer in the movement for q
naval stores combine. AS far back as
1885, when he was naval stores producer
nllnSeH, ne enn6aNOfeu TO Drlng about q
combine of producers for the purpose of
handling their own product. The plan was
to be a cooperative one and was not in
tended for profit making, but 70 reduce
the expenses Of marketing ttle product
as well as to insure benefit to the pro-
ducers in other days. The movement met
with considerable favor at first, but the
determined opposition of the Savannah
factors prevented it's being carried for
ward to success. incidentally, it might
be mentioned that some of the very fac
tors who are now so anxious to bring
about cooperative combination were
among those who most strenuously oppos-
cd Mr.. Townsends combine Having
been unsuccessful in the effort to form
trust of his own, Mr.. Townsend shortly
afterward entered Inc employ OF the big,
gest trust in the bunch.
Patience PersOnIhed.
Prof. Gentry, the owner and trainer of
the company Of educated dogs and ponies