The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-11-25
SPIRITS MEN AT SEA
ro WHAT COURSE THE MARKET
wr,L FAKE IN NEAR FUTURE.
ALL PREDICTION TABooED.
r.eroRs THINK SITUATION MIGHT
HAVE BEEN WORSE.

r.rfort for Themselves and Pro-
aucers Found in Fact That the
crop Is Nearly All In and That
1bs Great Bulk of 1t Therefore Is
ont of First Hands-BuSers Have
large Quantity ON Hand in Tanks
INIT II Is Understood That the
Greater Part of 1t Is Held Sub
,ect to order-Faet0rs Advises
Lesser Production.
The naval stores trade has hardly
VET recovered from the surprise eaus-
al by the recent drops in the price of
spirits Of turpentine and therefore no
member of it will venture to make
prediction as to what developments
NAV be expected in the near future.
While the price was still at so cents
much concern was expressed as the
tome became easier from call to call,
hut even with the market on the very
verge of the drop that it finally took
there was an undefcurrent of hope
either that the current demand would
clear UP the accumulations and thus
relieve LuG pressure OlA lttC A1AeeA hANb w
else that the Turpentine Operators As
ISOLATION would be able to make good
its promises and take at the market
price such part of the receipts as could
not be disposed of in the regular chan
nels of trade.
Now that the break has come the
factors and producers still find much
TO be thankful for and probably after
considering the situation thoroughly
will be inclined to concede that mat
tiers might be a great deal worse than
they are AS it is the crop is near
" all in, or will be in within the next
three weeks, at any rate, and has
passed from the hands of the produce
ers and factors into those of the buy
ers at a price which, prior to the re-
cent break was a fairly satisfactory
one. Had the break come earlier a
large part of the crop would have been
in first hands and would have to have
been carried over or sold at the lower
figure.
Where Do Buyers Stand.
Under the existing condition of things
the factors have unloaded on the buy
ers and the question to be solved now
is where do the members of this branch
of the trade stand. 1t is known that
the tanks at this city are pretty near
ly filled with spirits owned by buyers,
much of it bought at a price we'll
above the so cent mark, ranging, in
fact, from that figure to SO cents. A
large part, the greater part of these
holdings has already been placed, it
is understood, and is held here sub
ject to order which, if true, leaves
the buyers in an independent position.
There is no denying the fact, how
ever, that the present condition of the
trade is an abnormal one. One ex-
PLANTATION offered by a local factor for
this state of things is that the con-
sumers are averse to paying the price
that spirits have been bringing and,
therefore instead of buying their nor
NAL supplies having been carrying on
a hand to mouth" policy in the hope
of breaking down the market. The
crop las not been an exceptionally
large one, however, and as it is be-
lieved that every gallon made will be
needed for the worlds wants, it can be
but a question of time when the trend
of prices will be upward again in
stead of downward. as at present.
New Crop will Be Late.
The present season has been an ex-
ceptional one for gathering the crude
gum so that by the time cold weather
comes the woods will be more near
ly cleared of it than has been the case
in very many years, which means that
the receipts of the new crop will be
later than usual.
The present state of the market con-
tains lesson for the producer, is the
opinion of one prominent factor, and
that lesson is that there must be no
over production during the coming
season, as it is of more advantage to
the man making spirits and rosin to
have smaller crop sold at a good
price than to have a larger one at d
lower figure.
New Orleans, Nov. "a .=Reeeipts: