The Savannah morning news., 1904-09-01
SAVANNAH STILL
WORLDS MARKET
IN NAVAL STORES TRADE.
VALUE OF THIS BUSINESS LAST
YEAR SIO,O22, O27.29.

Receipts Smaller Than During Pre-
viOUs Year, but Prices Best i'm
History of the Business-Net Re-
ceipts Showed Increase and Large
Shipments from Primary Ports
COntinue-Trend of the Business
stiH in This Direction Because OF
High Prices and UnexcelIed Ship
ping Facilities.
The naval stores business of this
city for the year just ended showed a
decrease in receipts, as was to be ex-
pected, but so great an increase in
price both for spirits of turpentine
and rosins, particularly the latter, as
will make it rank with the best sea-
sons in the history of the business at
Savannah. This can readily be seen
from the actual value Of the product
shipped through this port the receipts
Of spirits of turpentine being worth
$5,193, 66s, and resins, $4,82s, 1929, giving
a total value of SCOOP, O27.29.
to natural causes, chief of which is the
exhaustion of the territory tributary
to Savannah, and to the opening of
other ports south of here, which
will be noted however, that the per-
centage Of the falling off does not in
crease with the reduction of the supply
base. In fact, the net receipts were
greater, and the reshipments of
the product are constantly being
made from primary ports to be
marketed or exported from Savannah.
This shows trend for the business of
the future toward this port.
Savannnh's Hold on Trade.
These facts and conditions result
from several causes: the superior mar
keting facilities, the best of exporting
and shipping facilities and banking OPP
portunities that are unequalled any
where else in the naval stores terri
tory, all making it much easier and
more satisfactory to shippers, exporters,
dealers, and, in fact, every class OF
the trade, to handle the product of the
farms through this port.
Aside from these very superior means
Of handling the products of the tur-
pentine farms, the trading world also
is unit in favor of Savannah, prefer
ring to deal on market where prices
are made. By reason of the fair and
just rules of the Board of Trade, which
were made by buyers and sellers and
which are intended to and do protect
the interests of all the prices fixed and
quoted on the boards of the Board of
Trade, are recognized and used as the
guiding figures, the basis of all trans-
actions, in every market of the world.
Making of Prices.
This rule now being so we'll estab-
lished throughout the territory and the
system of making prices so well
guarded by the dealers here it is al
most assured that Savannah will con-
tinue to be the market making port for
all time.
The season just closed was a
prosperous one, not only to the factors
and exporters, but to the producers as
well, because of the increased price
they received for their products,
although along with the advance in
prices of the manufactured product
came an increase of cost of production
which has gone on to such an extent
that any material decrease in the
values of the product will be serious
matter to the producers.
The custom of selling contracts for
future deliveries was continued last
season as heretofore, such deliveries
being arranged for May, June, July
and August. The prices secured rang
ed from 30 to 52Ia cents per gallons for
spirits. This allowed producers a fair
margin Of profit The custom is a
valuable one in that the contracts,
made usually as far ahead as January
OF the year of delivery, form a basis
of prices that are of value to both
factor and exporter. particularly the
latter in that 1t enables him to make
his contracts with the consumers on
the other side"
Contract Trade Good Thing.
This plan of selling futures is a per-
fectly legitimate one, also, as II Is in
no wise a speculation, no paper settle
ments are allowed or desired and every
contract made means that the goods
must, and are, actually delivered.
In mentioning Savannah's manifold
advantages as a market the fact should
not be lost sight of that shippers to
this port, in the vast majority OF cases,
receive a better price for their product
than is paid at any other market. This
Is possible through the fact that Sa-
vannah Is an open market and the
price is made by competition, whereas
other ports are closed and shipments
TO them are taken by exporters on
prices based on Savannah's CLOSING
prices.
The advantage of producers shipping
to Savannah are to be found In the
fact that as rule advances both in
spirits and rosins are made usually
after the regular market hours. which
means that supplies marketed at this
port are sold at this gain, whereas
those marketed at other ports are de-
livered to buyers at the closing Off
cial quotations. This rule would an
pear to be an equitable one and would
be were 1t not for the fact that on
a declining market the drop usually
comes before, and not after the close
OF the official market.
Detailed Statement.
The details of the receipts. prices
and shipments of naval stores from
Savannah during the season Just end
cd may be found in the following ia
bles, furnished through the courtesy
Of Supt. c. w. Saussy of the Board
of Trade:
Receipts of naval stores from Sent.
/, 1908. to Aug. 81, 1904, as compared
with previous year.