"c VAR 0148 04120 WP ROSIN R 901-951 MD= 1E-37 " "c REF 0148 LOC 1293 WIDTH 9 DK 21 COL 35-43 " "c EXP DEC= 2 " "c " "c WHOLESALE PRICE OF GUM ROSIN, GRADE H, SAVANNAH " "c ----------------------------------------------- " "c " "c NBER SERIES: 04120 " "c AREA COVERED: U.S. " "c UNITS: DOLLARS PER BARREL OF 280 POUNDS. " "c ANNUAL COVERAGE: NONE " "c QUARTERLY COVERAGE: NONE " "c MONTHLY COVERAGE: 01/1901-08/1914, 11/1914-10/1920, " "c 03/1921-09/1951 " "c SEASONAL ADJUSTMENT: NONE " "c SOURCE: SAVANNAH NAVAL STORES REVIEW AND JOURNAL OF TRADE " "c " "c NOTES: SERIES 04120 IS PRESENTED HERE AS TWO " "c VARIABLES--(1)-- ORIGINAL DATA, 1901-1951 (2)-- ORIGINAL DATA," "c 1948-1958. " "c NO ACTIVITY AUGUST-OCTOBER, 1914. " "c DATA WERE COMPUTED BY NBER BY TAKING THE AVERAGE OF THE " "c CLOSING QUOTATIONS FOR THE TWO SATURDAYS NEAREST THE END OF " "c THE MONTH. WHEN THE LAST DAY OF THE MONTH IS A SATURDAY, " "c THE AVERAGE OF THAT SATURDAY, THE PRECEEDING SATURDAY, AND " "c THE FOLLOWING SATURDAY WAS TAKEN. " "c FOR THE PERIOD JANUARY, 1901-MARCH, 1903 NO FRIDAY OR " "c SATURDAY PRICES ARE AVAILABLE. THE AVERAGES SHOWN WERE " "c COMPUTED FROM CLOSING PRICES QUOTED ON CERTAIN DATES " "c CORRESPONDING TO THE FRIDAY DATES OF THE CROP YEAR " "c 1903-1904. " "c THERE ARE NO QUOTATIONS FOR 11/1920-02/1921. THE LAST " "c FIGURES TO APPEAR ARE 11/6/20=11.60 AND 11/13/20=11.00. THE " "c NEXT FIGURE TO APPEAR WAS 4.25 ON 3/19/21. SURVEY OF " "c CURRENT BUSINESS GIVES 11.25 FOR 11/1920, 11.00 FOR 12/1920, " "c 11.00 FOR 01/1921, 11.00 FOR 02/1921, AND 6.80 FOR 03/1921. " "c THESE WERE CONTINUING THE LAST GIVEN QUOTATION (OF 11/13/20) " "c AND EVIDENTLY INCLUDED THE FIGURE 11.00 IN ITS MARCH, 1921 " "c AVERAGE. (NBER NOTE) " "c ON JULY 5, 1940, THE SALE OF ROSIN ON THE 100 POUND NET " "c WEIGHT BASIS WENT INTO EFFECT, REPLACING THE OLD SYSTEM OF " "c SALES OF UNITS OF 280 POUNDS GROSS WEIGHT OR 230 POUNDS NET " "c WEIGHT. A CONVERSION FACTOR (SURVEY OF CURRENT BUSINESS, " "c 1942 SUPPLEMENT, P.217) OF 2.324 HAS BEEN USED FOR " "c CONTINUING THE SERIES. " "c IN MARCH, 1946, THE SAVANNAH NAVAL STORES REVIEW WAS " "c TAKEN OVER BY A PUBLISHER IN JACKSONVILLE, FLORIDA AND WAS " "c LATER ON MOVED TO NEW ORLEANS, LOUISIANA. THE WORD SAVANNAH " "c WAS DROPPED FROM THE TITLE AND THE PUBLICATION WAS CALLED " "c NAVAL STORES REVIEW. " "c THERE WERE NO MORE REGULAR QUOTATIONS AT THE SAVANNAH " "c COTTON AND NAVAL STORES EXCHANGE AFTER SEPTEMBER, 1951. THE " "c EXCHANGE WAS AT THAT TIME INVOLVED IN AN ANTI-TRUST ACTION " "c WHICH, ACCORDING TO THE ISSUE OF OCTOBER 6, 1951, WAS " "c SETTLED BY A CONSENT DECREE UNDER WHICH THE RULES AND " "c REGULATIONS OF THE EXCHANGE WERE TO BE CHANGED AND SALES " "c WERE TO BE REPORTED TO THE UNITED STATES DEPARTMENT OF " "c AGICULTURE. IT WAS ALSO ESTABLISHED THAT MEMBERS COULD NOT " "c BE BUYERS AND SELLERS AT THE SAME TIME. THERE IS EVIDENCE " "c SUGGESTING THAT PRICES FOR SOME TIME HAD NOT ACCURATELY " "c REPRESENTED MARKET CONDITIONS AND TRADING BUT HAD BEEN " "c ESTABLISHED ON THE BASIS OF ONLY A PART OF THE SALES. THE " "c REVIEW OF APRIL 5, 1952 SPEAKS OF"STALE QUOTATIONS." " "c TABULATION OF THE SAVANNAH NAVAL STORES MARKET WAS DROPPED " "c FROM THE REVIEW AFTER THE ISSUE OF DECEMBER 27, 1952. " "c " "c CHECKED MANUALLY; NO CORRECTIONS NECESSARY. " "c " "c ............................................................... "