The Ocala banner. (Ocala, Marion County, Fla.) 1883-194?, 1906-07-20
THE TuRPeNTINE MARKET.
Outlook Seems Hinged with Doubt
and Producers Uneasy--Rosins
Meet with Sharp Losses and
Commons Still Declining.

verge of dropping in value twice this
week and is apparently still on the
brink, hesitating whether to take the
plunge or not. But for the support
given by large domestic buyer, who
has a number of times come in ap-
parently for the purpose of sustain
ing values, the price would inevita-
bly, have declined. AS it was, with 9TH
er buyers only bidding 81 cents, and
factors seemingly willing to accept
this price, the buyer in question took
sufficient to keep up the price at
81 IA cents. 1t remains to be seen
whether this is to continue. There is
apparently an absence of any definite
strength in the present situation and
nothing on which to base any hopes
of near by improvement in the con-
ditions. The foreign demand has not
been very good this year; tnat seems
to be established so far as the first
four months of the naval stores sea-
son are concerned. The French and
Spanish production are said to be
larger than in the past. which helps
in some degree to fill in the European
demand outside of those countries.
The English markets appear to de-
velop strength and even at the ex
fCfi uuh lncC
lower than were expected by con-
sumers there at the beginning of the
season, there is no briskness to trade,
consumers apparently feeling justi-
fed in going along quietly and await
ing further developments. 1t accord
ingly falls more and more upon the
American consumptive demand to
sustain the market. mat is has done
so up to this time shows what real
power the domestic consumption is.
But the burden becomes heavier as
the season progresses toward its
height and there is no doubt that
there is real cause of anxiety in the
recent developments. The failure of
the market to improve, it's constant
tendency to go off, although checked
in the manner mentioned above, shows
lack of faith in the immediate
future which is not reaSSuring. 1t is
certainly to be hoped that prices will
not further decline. The producers are
not regarded as having anything APP
preaching bonanza at the values
which have prevailed during the past
two months, and further drops in the
prices of turpentine would be a seri-
Gus matter to many of them. The
course of events, though, has justified
the warning sounded by the Review
some weeks back, when it advised a
very conservative and economical pol.
Il icy on the part of the producers this
year. as the future was far from being
as roseate as many had believed ii
would be. The producer who has got
his farming operation down to hard
wisdom and is prepared to meet any
thing the future may bring. If the
price of turps goes a cent or two
lower he has prepared himself fol
the decline. There is nothing assured
as to the future of the article, anC
while it is to be hoped that stronger
foreign demand will assist the Ameri
can consumptive requirements il
bringing about better conditions, the
indications at this time can be frank
Iy said not to be very favorable. The
outlook certainly points to the grea
bulk of the crop selling conisderabl!
below the anticipations of the pro
ducers. The reports of bad weathe
and heavy rains. with prospective
smaller receipts for July, seem tt
have had little effect on the market
although, of course it might be as
serted that but for them the pric,
would have been lower than it is.
The receipts of turps at Savannah
for the week ending yesterday wer
1880 casks, and the posted sales 1852
casks. The net receipts for the mont
at Savannah have been 10.134 cask
against 1902 last year.
In resins this has been decidedl
an off week. The market has bee
weak throughout and the net result
, of the transactions up to last nigh
were losses, in comparison with tn
previous Fridays close, of Is cents o
waterwhite, 35 on windowglass, 10 o
M, Is on X, 20 on /. H, Is on G. F,
!, 10 on D and below. The decided veal
ness showed itself on Wednesda,
Thursdays early quotations shown
the effect in decided losses GOVERN
!. almost the whole line. The decline
on pales were doubtless the most III
. expected, as the receipts OF thos
I, grades naturally amount to little aftt
= July. the crop having been made ar
largely marketed before the close
the month, and it was thought by IA