The sun. (Jacksonville, Fla.) 1905-1908, 1905-12-09
December 8, 1905

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member of prominent house located in Savannah
at which place the house had been doing a success
full business for twenty-five years or more and had
become wealthy, visited Mr.. Coachman at jack
sOnve.
He stated his business thus:
"Turpentine can be sold wherever it is concen
trated. There's but one grade of it and if it were
to be concentrated at Jacksonville, Miami, Tampa,
or Key West buyers will bid for it, But rosin is
different thing. There are fourteen grades of
rosin and in order to market II successfully one
must have connections all over the world. Russia
buys certain grades, Germany others, England 9th
ers and so on.
You do not need experience to handle turpentine
but you do, to handle rosin I will handle all your
rosin My house will put line of steamers be-
tween Jacksonville and Savannah on which to trans
port your r0sin."
This gentleman very kindly thanked and told
that If he was needed he would be notified.
The company organized by Mr. Coachman did a
profitable business from the start under Mr. Coach
mans able management. He was always buying in
an advancing market, and under the agreements
made with the exporting houses, had no difficulty
in disposing of the product.
Every succeeding year brought increased bust
ness, new people came into the State, new fields
were developed new companies were formed, auto
mobiles and solitaire diamonds became conspicu-
Ousy obvious on the streets of Jacksonville.
Mr.. COachmans conduct of naval stores affairs
was brilliant and wonderfully successful.
The formation of the three million dollar con-
sOlidated company followed as a natural result of
this prosperity and it easy to form the million
dollar bank afterwards.
The producers were so prosperous that they were
eager to take stock in any company organized by
the leaders who by this time were affectionately
styled "The Gum Bunch"
The day came when the arrangement made by
the exporters to handle the product was about to
expire and S. P. Shooter who represented what is
known as the big A. in Savannah notified the jack
sonvile crowd that the agreement about to termin-
ate would not be extended and S. p. Shooter who
was spokesman for what is known in Savannah as
THE big a." composed of The Shotter Company, Pat
terson- Downing Company, The Antwerp Company,
and the London Company, notified the Jacksonville
crowd that new agreement would have to be
made.
1t is claimed that Shooter was mad because the
Jacksonville crowd had backed E. G. Patterson in
the formation OF an export company in Savannah,
winch Shotter said was violating the agreement with
him, and made offers so low that he knew thew
would not be accepted.
Whether it be true or not, the fact is that no
agreement was made with the Savannah exporters.
Mr.. Coachman then organized the Naval Stores
Export Company, with capital of $l,250O00. This
stock was readily taken by the operators who Mr.,
Coachman's leadership had made rich.
The factors in Savannah and elsewhere did not
take much of the stock. j. P. Williams, president
OF the J. P. Williams Company took only two thous-
and dollars OF it, but was made vice-president. Mr.
BENJAMIN Chestnut of the firm Of Chestnut &
ONeil of Savannah did not take share of stock
put was made director Mr.. Chestnut gave as his
reason for declining to take stock, that the head
quarters were not to be in Savannah.
THE BATTLE rs ON.
The new Export Company of which Mr.. Coach.
man was made president commenced business June
lst 1905, and the 'big 4" in Savannah. lead nv
Shooter cleared for action and went into the fight
The newly formed Export Company, sent agents
10 the producers in this and other States to ask
the operators to agree to let the new company
handle their output. The promise made to the pro.
take their product in Jacksonville at Savannah
closing prices prevailing on the day of arrival. The
same offer was made to the factors
This promise looked good to them, because goods
in Jacksonville at Savannah quotations meant the
saving OF the difference in freight between the two
points. WV
a. T. Williams Company insisted on having a
written contract IN fha afa