The Savannah morning news., 1903-11-09
is IT TIME TO SELL?
,ocAL COTTON BROKERS' REGARD
PRICES ATTRACTIVE.
The RISE BREAKS RECORD.
OPINIONS THAT HOLDERS OF STUFF
WAY PROFIT BY SELLING.

rnture Gains-What Naval Stores
Wen Think of Wood Turpentine.
No Large Market for the Product
yet-Exporters Not Handling 1t.
Mr. E. A. Cults thinks the prices
sor cotton have reached level that
,,al,as it advisable for the man with
sctual cotton on hand to dispose of it.
Mr.. CUTS has been in the cotton BUSH
ness a long time, and is probably as
well acquainted with the handling of
the actual stuff as any one else in the
,oc9I trade. THESE are good prices for
cotton" he said, land holders viii
make no mistake in accepting them. /
believe prices will be higher in the
snring than they are now, and most
certainly if the present crop estimates
are correct. However. there is a risk
in waiting until then. and with bird
in the hand such as present prices af-
ford. it would seem to be the part of
wisdom to sell"
Mr.. G. E. Dickinson thinks prices
have reached level that should be
promptly accepted by holders. There
is surely nothing to lose by taking
these prices, according to Mr.. Dickin-
son. and all to gain. He points out
that receipts are increasing, and if they
result in causing a general moditica-
tion of crop ideas the market will be
affected. The question of holding or
selling can be decided alone by hold
ers. Mr.. Dickinson regards the pres
ent as very attractive prices for cot4
ton. In his circular he says, among
other things:
"The question naturally arises
whether or not the increased price
does not discount the admittedly small
er crop and whether these prices may
not react upon us by curtailing con-
sumption to a very great extent.
While everybody knows this crop is
fully four weeks late and that this
more than anything else accounts for
the great difference in the figures, still
the report was regarded as a bullish
document and caused an advance of
some 16 to IS points in the contract
markets.
The demand here has been mostly
for medium grades and to fill orders
accepted at a lower level and hedged
somewhat more favorable to the ex-
porter, all of the premium for spots
over futures having been lost. With
a declining tendency the basis will be
poorer still from the standpoint of the
seller, until it becomes possible to
make deliveries on contract.
We continue to caution our friends
against loading up with cotton at these
prices. We may have a big slump at
time tbn1I0o oa Yoriaa
ultimately work much higher
President John r. Young of the Ell
ls-Young Co., and the National Tank
and Export Company, has had occa-
sion TO find a market for wood tur-
pentine, but he states that he has not
yet succeeded in doing so. Mr.. Young
has friends in the interior interested
in the new product, and their anxiety
to determine whether there is a de-
mand for the product caused them to
take up the matter with Mr.. Young.
While he believes that wood spirits
will find a useful place in commerce
later on, he does not believe with the
present supply of pure turpentine that
the crude product will make much
neddWay, and Especially when the
price asked for it is very little less
than that asked for the pure article.
Mr.. Young does not believe the time
LOT booming wood turpentine has yet
arrived 1t is pretty safe to say that
Il there was a large and inviting mar
Eet Tor this product at present local
factors would be up and READY to
handle it for its producers.
Mr.. ]. A. G. Carson does not look
Tor wood turpentine to cut any mate
nal fgure for some time in reducing
me price of pure spirits of turpentine.
Like all the naval stores men Mr.. Car
son IS following the development of the
wood spirits industry closely because
OF the bearing it will undoubtedly
nave later on the market for the gen.
ulne stuff. He has a sample of wood
spirits in his Office that comes about
as near having a passable odor as any
yet received. 1t appears now to be
question of time as to when wood
spirits will enter into commerce. Mr..
carson believes it has a future, and
mat as soon as it's Objectionable prop
eIues are removed it will be in demand
among consumers.
Mr. H. Weibert speaks of wood spir-
us from the standpoint of the export
g. g. he represents probably one of
tne worlds largest distributing con
Serns OF turpentine. Wood spirits,
nom the standpoint of the big
exporters, is not produced in sufficient
noluhe to attract their attention. Even
we're there 81 demand for it they say
tne amount made is scarcely enough to
warrant them in handling it.
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