The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-07-05
PART THE TANKS WILL PLAY.
Their Eject ON the Turpentine and
ROsin Market.

The next few days will doubtless reveal
the part the National Tank and Export
Company is to play in the handling of
turpentne and resins in the Savannah
market. Already the company has taken
initial steps by buying a considerable
quantity of stuff that threatened to carry
prices off, and they may be expected to
repeat the operation as aften as condi.
tions demand 1t. What the company de-
sires is to keep the price up, while the
other wing of the trade Is endeavoring to
hammer them.
The confidence of the tank company
promoters in hurrying along the work of
building the tanks shows that they be-
lieve they have a good thing, both for
themselves and for the producer in the
country. The foundations for two of these
immense storage tanks have already been
built, one at the Seaboards terminals and
the other at the Savannah, Florida and
Western. Each tank will hold 5000 gallons
of spirits. The iron and other material
for the tanks proper is on the ground, and
the construction will be begun in a day
or so. 1t will take about three weeks to
finish the work.
A more detailed account of the methods
that will be employed by the company
III udlNilHlS AHt SPlIllS Consigned
has appeared in the Morning News. Mr..
julius C. Schwarz will be superintendent,
having been elected Some time ago Mt q
meeting of the directors. Mr. Schwarz
takes up the work with several years of
valuable experience TO his credit, which
gives him an insight into the methods
not only of other tank companies, but
of all the practical features of the naval
stores business.
The turpentine will be consigned to the
tank company when desired by simple
process. Deliveries will be made by the
consignors to the tank company. which
will then receive and receipt for the
amount of spirits turned over to 1t, guar
anteeing deliveries within a certain time
of spirits that will meet all tests.
These warehouse receipts will be ne
gotiable at any of the banks, so that
holders of turpentine may find the new
company a convenient medium through
which to turn their product into ready
cash.
Had ii not been for the operations of
the tank company during the past week
the price of spirits would have worked
much lower" said one man. when the
efforts of buyers to hammer the market
became apparent the company entered
as a buyer, taking enough of the imme-
date supplies to impart decidedly
hrmer tone to the market. This operates
not only in favor of the factor. but the
producer in particular. who is just now
looking for about everything there is in
1t for him. Certainly the operations OF
the tank company will offer most ex-
cellent method for upholding the mar
ket"
While the outlook is encouraging for
the company from the standpoint OF
those interested in a. some OF those on
the outside are watching the company's
progress with interest. One man said
yesterday that he could not understand
what tho company is to gain by buying
In stun al this time. These accumula-
lions will have 90 be disposed OF later.
he said. and then the market will be de-
pressed by an oversupply the same as Il
would be AZ present lie said he believed
the price was regulated entirely by sup
ply and demand. or course the policy 81
the tank company VIII BE- TO cling on 20
its holdings until there b. an opportune
time 10 dispose OF them.