The Savannah morning news. (Savannah, Ga.) 1900-current, 1900-06-16
SPIRITS MARKET NOW STEADY
But LITTLE VARIATION FROM
PRESENT PRICES EXPECTED.

The Past Week Remarkable for the
Variability and Uncertainty of
the Market and Its Kaleidoscope
characterization Believed to
Warrent Even Better Prices-The
Position of the ROsin Market Is
Very StrOng-Lumber Outlook Dull
and acknowledgements Tonnage
Rates Unusually LONESOME Ad-
vances in Food Products During
the Week.
Morning News Office, June 15.-The week
just closed has been one of the most re-
markabNe~fn many respects, in the expe-
rience of dealers in the naval stores mar
ket, in number of years. The kaleido-
SCOPE phases displayed by the market
in the course of one week, excelled any
thing in the memory of some of the old
est dealers.
Throughout the whole week the spirits
market was variable and uncertain, fire.
quently dull and weak and tending 10 a
decline, but occasionally strong and firm
and often SO uncertain that no one felt
like making a prediction. The market
not only displayed all of these phases
during the week, but on one day, at least,
displayed them all in one day. beginning
weak and declining, then becoming firm,
and rising and easing off az the close OF
the day by becoming weak and uncer-
tain.
Although the week closes with quota.
tons of 43A cents for spirits, there is a
satisfactory feeling among the factors
that the decline has about reached the
limit, and that hereafter the market may
be expected to remain nearly stationary
with variations of not more than one-helt
to three-quarters of a cent either way
The buyers themselves, realize that this
is about the situation, and display dis
position to make purchases in larger guam
titles. With the amount of spirits, which
has been applied to contracts, decreasing
the available supply for the buyers, some
Of the more sanguine among the factors,
predict that prices will again be above "A
cents during the coming week, and that
an attempt on the part of any one buyer,
TO obtain large amount of spirits, would
promptly send the market to 45 cents
again. The drop 20 4315 cents which oc-
CURED during the week, was not anticl-
pated by the factors many days previous
ly, as il is well known that offers for
September contracts at 40 cents in consid-
cradle quantities, had been refused not
long before.
The statistical position is considered
strong. The receipts are less than for the
same time during the previous year with
every indication of maintaining the pres
ent ratio throughout the season, while the
exports are slightly in excess of the pre-
vious year. Reports from the operators
are TO the effect that while the labor situa-
G hot ~.
coming month with apprehension High
wages and the general demand for labor
have made the negro hands independent,
and they are disposed to insist on shorter
hours and less work. The outlook is that
the watermelon crop will be large. With
melons plentiful and cheap and the natu-
raj disposition of the colored brother to
labor during very hot weather there is
apprehension that the troubles of the op-
orators may be multiplied during July and
August
The position of the rosin market is a
very strong one. Receipts ave quickly
taken by the buyers at prevailing prices
There was decline of cents on all
grades during the week, which was
promptly regained, and it was reported
during the afternoon that purchases were
made on some grades above the market
quotations.
There were advances during the early
due 10 the rise in prices of cereals in the
Western market, but the apprehension of
further increases does not seem to be wa
ranted at present. The changed freight
rates on Western shipments South are
worrying the provision dealers somewhat
and the matter will probably be taken UP
with the railway officials.
The outlook for lumber is very dull
prices having declined greatly during the
last few weeks and the demand being
light. The fact that many mills which
had been shut down. opened during the
boom season, does not help the situation
any. Sail tonnage rates are lower than
for some years past but this does not
help the lumber dealers any, but rather
the contrary.
The market remained nominal through
out the week, there being but slight de-
mand and scarcely any transactions. The
quotations, though varied slightly during
the week. are the same to-day as they
were a week ago.