The Savannah morning news., 1904-03-03
HIGH PRICES MEAN
SMALLER EXPORTS
OF NAVAL STORES TO EUROPE.
SUBSTITUTES REDUCING CONSUME
TION OF AMERICAN TURPENTINE.

Says Manager Weibert of Antwerp
Co. Who Is Just Back from the
COntinent-That Foreign COnsump-
tion Is Not Likely to Increase Dur
ing the Coming Season and That
the Production viii Not BE In
creased Are Significant COndi-
tions-New Uses of Turpentine
Causing an Increased Demand Mt
Home.
Mr. H. Weibert, manager of the Sa-
vannah agency of the Antwerp Naval
Stores Company has just returned
from Europe, where he spent three
weeks. AS to business conditions
abroad Mr.. Weibert said that in Lon
don the declaration of war had a tenn
porary disquieting effect, but this has
in all probability been discounted and
no further unsettling results are ex-
pected.
Mr.. Weibert was asked as to the
outlook for the consumption of spirits
turpentine and resins on the continent
the coaing season. Il do not look for
any material increase in consump-
tion," said he. With prices at the
proper level the indications are that
as much spirits and resins win be
taken as there has been this season..
With the price forced out of its legiti-
mate channel, however, consumers
may be driven to the use of petro-
leums and other substitutes, which
Will materially reduce the consump-
ton of American turpentine."
What do you regard an equitable
price?" Mr.. Weibert was asked.
Will Decrease Foreign Consumption.
II believe that 60 cents in the sum-
mer will cause decrease in the for
eign use Of turpentine. because of the
large amount of substitutes that will
he used. The French are producing
considerable turDentine of late, which
is being shipped to leading European
markets, wherever a demand exists
for it,"
Mr.. Weibert was asked regarding the
effect of the recent cotton specula-
ton. and how the high prices are re-
garded in Europe. The trade fully
realizes that the rise was the direct
result OF an aggressive bull campaign,
and that the advances were market
of clever spectators. Throughout Eu-
rope. Mr.. Weibert says, the advance
In cotton to its recent high point was
recognized as fictitious. so that when
the collapse came it was not generally
surprising. OF course. il is also rec
ogniZed that conditions probably war
rant prices considerably higher than
last year but the speculation, lin all
such campaigns, overran itself.
WpihRFf smoke
consumption of cotton owing to the
higher prices, and concluded that prices
above what conditions warranted would
have the same effect on the marketing
of any product.
A Differing View.
MIR. Weibert's return direct from
Europe with the report that his belief
is consumption of spirits and rosins
will not be increased abroad is signi-
fcant contrasted with the generally
accepted belief among naval stores
factors, formed since the box-cutting
season closed, that production will not
be increased. This would seem to
present ideal conditions, with no in
crease in either consumption or pro-
duction.
The time was when "consumption'f
meant about what Europe took. which
was. and still is. the South's principal
NuSlOIlef lOT ildNdl ElOlRS. sun, the
United States are using considerable
turpentine and rosins. and each year
witnesses an increase in home con-
sumption. The foreign exports of tur-
pentine this season have been %, 009
casks, against 1850 casks for the same
time last year. thus showing a loss in
foreign exports this season of 122, 1884
casks. On the other hand the exports
TO New York, and sundries so far this
season have been 90,730 casks, against
1888 casks uS to this time last sea-
son, thus showing a gain in domestic
shipments, of 14,197 casks, and this
in the face of a smaller crop by 10
per cent. than in 1902-1903 While the
presumption that these domestic figures
represent domestic consumption is
probably safe. the chances are that
considerable of the domestic ex-
ports We're indirect foreign exports,
though probably not enough to offset
the entire of the gain in favor of do
mesitc consumption.
Larger Demand at Home.
American paint and varnish makers,
soap manufacturers, paper makers and
Others are using turpentipe and resins
largely and the activity in these in
dustries is steadily calling for larger
supplies. The fact that this demand
comes in the face of no increase in pro-
duction indicates the probable position
of the market the coming season.
Large quantities of turpentne are
shipped by rail direct from the interior
to the West. The foregoing account
does not contemplate these shipments,
which in all proba bility would make a
showing fully as good for home con-
sumption as the New York figures do