The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-09-01
NAVAL STORES YEAR
SOME CHANGES IN HANDLING
THESE PRODUCTS.
OPENING FLORIDA TERRITORY.
INCREASING OUTPUT of FLORIDA'S
VIRGIN PINE FORESTS.


ting Good Prices on Theory That
the New Crop VIII BE Less Than
Last Year and the worlds Con-
sumption Representatives, Show
ing Receipts, Sales, Exports, and
Range of PrIces-WOOd Turpcn-
tine Curbed by Legislation in
Both Georgia and FIOrida-Year
With savannah Factors.
The old year confronted Savannah
with radical change in the market
ing Of turpentine and rosin, due to the
shipping of the naval stores territory
further southwark, and consequent
ly the more extensive opera
lions in South Georgia and Florida.
The nearness of active fields of opera
ton to the ports of Brunswick and
Jacksonville and Fernandina have BEN
Gifted them to some extent at
the expense of Savannah. The
consequence is falling off
in receipts Of both turpentine and rosin
since April 1, the beginning of the new
season. ,
The naval stores season is just about
under way. 1t is far enough advanced,
however, to show that the operator is
to receive much higher prices for both
turpentine and rosin, due largely to
the prevailing belief that the crop this
season will be from to 10 per cent.
less than last year. Fewer boxes were
cut, and factors have used their influ-
ence to induce operators to keep pro-
duction well within the bounds of con-
sumption, so that prices might be main
tanned and the prospects for working
them higher improved.
Radical Changes Confront Trade.
Never before has the trade entered
upon a season in a more unsettled
state, which has been due largely to
the process of reorganization which
has gone on as the result Of the move
ment of the industry into Florida,
where virgin forests probably exist
upon a more extensive scale than in
any other part of the turpentine belt.
At the opening of the season all sorts
of talk was heard about what prices
would be, where receipts would go, and
the course the trade would pursue.
Some said the exporters had entered
into a combination among themselves
with view to eliminating competi-
ton. 1t was said that one or two
among them bought for all; that the
stuff was pooled and then apportioned
out among them according to their
needs. AS stated, these were all ru-
mors.
Competition Shows Its Head.
AS the season moved on ample evil
dences developed to show that instead
of being deprived of competition, the
market was probably to have the keen
est in its history. Aside from the eX-
porters, representing the big concerns
which have been doing business in Sa-
vannah for years, other large exporters
entered the market, and with the do
mestic element have bid for the offer
ings from day to day. In some cases
a large London firm, with Offices in Sa-
vannah, bought literally after the clos
ings, and was frequently the means of
advancing prices.
A matter that interests operators is
the tendency of the turpentine
market to advance after the
closing. Factors urge, this as
a reason why operators should
consign their stuff to the Savannah
market. Frequently an exporter in
tending to buy will wait until after the
official closing at 4 o'clock in the aft
ernoon, and IL he finds he has more
than that to pay for the stuff, he does
it. There seems to be a disposition to
wait until after the 4 O'Clock closing to
operate, when all exporters get into
the market, so that active bidding is
exceedingly v liz ,esome, end frequently
results in kighe- prices. Now when
higher prices are paid after the clos
ing. the operator with the STUFF con-
signed on the spot at Savannah gets
tbs benefit of the higher prices, and
the operator who consigns TO any other
market, according to the methods of
the trade the Fast year, gets the Off
cial O'Clock Price for the stuff turned
over to the exporters on that LAY. It
Il true that the market sometimes
after the closing sells lower, but the
number of attar-closing advances is so
large that they can scarcely be COM
pared with The number of after-closing
declines.
The Year with Resins.
Resins have been in uniformly good
demand during the season, and there
is every evidence that this crop will be
wanted, chiefly from the offerings
taken daily so far. The best demand
has been for pales. Manufacturers
seem to be particularly anxious for
them, and exporters have no hesitan-
cy in picking them up whenever found
on factors tables. They are
never separated from lots, how
ever, and exporters must take
the desirable and undesirable
grades, which oftentimes enables fac
tors to work off low grades, whereas.
under other conditions, they would not
be able TO do SO. The demand has
shifted from time to time, and when
pales have been in moderate request.
a good demand has existed for lows.
With such diversion of receipts as
savannah has had, factors are holding
their own well, and have looked after
the interest of operators in a satisfac-
tory way. They have been advocates
of competitive buying, and have in
other ways shown an interest in the
marketing of turpentine and rosin
consigned here to the best possible ad-
vantage to shippers.
About Wood Turpentfne.
Much has already been heard this
season about wood turpentine, the
product of pine stumps and pine knots.
This product may be in demand, but
many of the Savannah trade assert
that it has received a "black eye" in
going up against pure turpentine. The
controllers Of the marketing of this
product seem to have pursued the pol
icy OF endeavoring to substitute it for
pure turpentine instead of making 1t.
as the trade believe they should,
separate and distinct product, to stand
upon its own merits. The result was
that legislation sprung UP right off.
The Florida Legislature passed a pure
turpentine law, and then the Georgia