The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-09-16
BOARD OF TRADE
PRICES CORRECT
so LOCAL DEALERS SAY.
AFTER CLOSING, PRICES NATURAL
IN COMPETITIVE MARKET.

After Closing Mt Less Than Clos
ing OBSERVATION-DISCLOSURES Fa-
ciIities Does Not Afford Same In
ducements to Exporters as SaVan-
nah.
AS the superior naval store market
of the world it is highly improbable
that the Savannah Board of Trade, or
Savannah brokers. will take any cog
nizance of the resolutions adopted at
the meeting of the Turpentine Opera
tors Association in Jacksonville yes
terday, charging that the quotations
sent out from Savannah are not cor
rect statements of the market value of
turpentine and rosin.
The action of the operators in adopt
ing such resolutions is considered here
as the direct result of influences
brought to bear by brokers to whose in
terest it would be to have the entire
Florida product go through Jackson
| vile.
The charges of Misrepresentation of
market values is the direct result of
the after closing prices, which are paid
for naval stores in private transactions
here. These prices are as often UNI
der the market as they are above, and
as the sales are not reported until the
following day there is no way of max
ing up quotations of prices to be sent
to other markets as a basis of opera
tions.
Here is the condition of affairs; sup
| pose water white spirits close in the
local market. and the price is posted
! at 51Ac. After the closing exporters
! offer to buy stock carried over from
| the closing at an advance of, from 1-16c
| to Ac per gallon. The broker and pro-
ducer in Jacksonville and other mar
| kets, of course. do not know of this
| advance in certain grades, all their
| purchases of the days receipts being
made on the basis of the Savannah
| closing. These transactions, made aft
| er the closing of the market, enter into
| the following days market. By hold
| ing the majority of the receipts at
higher prices brokers in Florida claim
| that exporters are able to take their
receipts at the Savannah closing, which
| is not the real market value.
1t Works Both Ways.
AS often as this is the case, it is
also the case that a large quantity of
stock is thrown on the market after
the closing, and, as was the result in
rosin yesterday, the market is forced
down materially, while the Jackson
! Vile broker is getting closing prices of
| the Savannah market.
| Mr.. ]. B. Chestnut, of the firm of
Chestnut & O'Neil. said yesterday that
| it is as absurd for Jacksonville
| brokers to seek the same advantages
! as are afforded in the Savannah mar
| ket, as it would be for the Savannah
Cotton Exchange to protest at the curb
prices to the New York Cotton Elk
change.
Savannah has every natural ad-
vantage as a naval stores market and
always will have" he said. Jackson
| Vile, as closed port, cannot hope to
be on the same footing This is the
only competitive market of the world,
and with the superior facilities here
no other port can compete.
1T is to the advantage of the
producer to send his stock to Savan-
| nah, even from Jacksonville. 1t is but
natural that Jacksonville brokers, who
have Bought two-thirds of the product
of Florida on a basis of the Savannah
market, to want all the receipts posi-
BILE handled there.
Very Often Below Market.
after closing, prices in Savannah
are very often below the prices quoted
on the board, and below those sent out
to Jacksonville and other points which
make Savannah basis for their mar
ket.
Our Savannah Board of Trade quo
tations are absolutely true and correct,
as based upon actual transactions be-
tween factors and buyers, reported
daily, before o'clock i'm the afternoon.
at which time the market closes, and
at which price all of the Southern port
receipts are taken; then, if after, there
are certain factors, say, Chestnut &
ONeill and Others who are interested
in obtaining the highest price possible
upon competitive bids, after the close,
should get higher prices, either on 'pri-
vate terms or to be reported the next
day, then the producer has no kick
coming further than he has been de-
prived of the, perhaps. daily advance
by not shipping to Savannah.
For instance, our to-day's market
closed at SIX for spirits, and later we
are informed that sales were made at
SIC. The same applies to resins. as
will be noted by the advances paid.
This advantage in price is due to our
superior facilities here, and IL is per-
fectly natural that Savannah being
the leading naval stores market of the
world, should obtain the highest prices
AOA anu our ADVICE Is, snip
your stuff to Savannah and not be in
iuenced by the resolutions of closed
markets."
should ship to savannah.
According to expressions from local
naval stores dealers the real COM
plant of the producers should be in
shipping to Jacksonville where ex-
porters deduct from the Savannah
market price because of the inferior
facilities offered there for export. II
is claimd here. that it is but natural
that, with a competitive market, prices
should fuctuate here after market
hours. when exporters are constantly
on the lookout for products.
When producers make complaints to
dealers In Jacksonville that they do
not receive as high price for their
product there as they do I'm Savannah
they are told that this is all humbug
and that the market quotations are
| fixed here.
In opening up a new territory bro
kers in Jacksonville are attempting 10
divert much OF the business which
comes TO Savannah. and which will
continue to come here from the fact
that superior facilities, deep water. a
| competitive market make Il possible
10 secure better prices.
S20.iO ST. Louis and Return.
Southern Railway viii sell round