The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-04-01

tors were making contracts for future de-
livery at 30 to 80 cents and a few sold as
low as 20. With the prices at which con-
tracts are made there is an as
sur d profit in the business for the opera
tors, unless some Unforeseen calamity
should occur. That the present high prices
viii continue is not expected. With the
incoming of the new crop a drop of about
10 cents a gallon under present quotations
is expected, but even then there will be
good money in the business.
'How do you account for the sudden
increase in prices and the maintenance
of the increase in the face of an evidently
large crop?' well known factor was
asked.
simply by reason of the fact that con-
sumption had caught up with produce
ton" replied the factor. THE South had
been producing large crops of naval
stores everey year for several years past.
The result was that heavy stocks were
banked up on the other side of the water.
Gradually during the last few years con-
sumption has been creeping up on produce
ton. 1t caught up last year. although
we were entirely in ignorance of the fact
at the time, and the result was an in
crease in prices. 1 expect a large crop
this year, but the worlds consumption
is now equal to a large crop, and conse-
quently good prices should continue.
There are one or TWO things which may
initiate against high prices, however.
One of these is a rumor to the effect that
the Standard Oil Company has massed
large stocks out West, and consequently
will not buy as largely in the interior
this season as heretofore. Should this
be the case, the stuff which the Standard
Oil has been taking will come to Savan-
nah to seek a foreign market"
Another prominent factor, when asked
his explanation of the high prices which
have prevailed. tersely replied, "McKin-
ley" When asked to explain his mean
ing. he said: 81 simply mean that the
general revival OF industry in this coun-
try and in Europe has exerted a beneficial
effect upon the naval stores market.
There was a greater consumption, and
consequently larger demand"
As to the coming crop this factor said:
1.-THE operators have laid themselves out
TO make a large crop. l expect a large
CROP but one not much, if any, in excess
of the year Just closed. There are two fac
tors which will tend TO diminish the crop.
one is the scarcity of labor. You can't
make naval stores without human labor.
especially negro labor. The railroads and
The lumber people are employing more Ia
Dor and paying better wages this year
than for long time past and the naval
stores producers will not be able to obtain
The labor to make all the turpentine and
rosin they would like 10 make. The other
factor is the lumber mills Until within
the last year business was slack with the
lumbermen and they worked slowly and
frequently in conjunction with the naval
stores men. Now the lumbermen have
demand for all the lumber they can get
and they no longer wait for the naval
stores men TO get through with the timber
before they begin work on it,
Both these factors were asked their
ontnion of SaVannahs supremacy as a
naval stores port. and whether they
thought there would be a further decrease
In her receipts in favor of the ports which
nave recently engaged in the business.
Savannah is in no danger said the
grst "She will get fully as large per-
.antago of the next crop as of this years.
The tendency towards the Gulf ports is
.smporary They are a little nearer now
, The center of the naval stores territory
9ut we have all the facilities, and they
nave almost none. We have unlimited
abroad shipping, warehouse and bank
ne facilities. The new ports are limited
n their facilities as to the two former
md sadly deficient as to the two latter.
q'he railroads have no warehouse faclli-
fae az the gulf ports worth speaking Of
eJ N is TO their interest to bring the
oroduct where they are enabled to obtain
storage and warehouse charges. Our I'M