HARDWOOD RECORD 



29 



of fli-e — the avcli enemy of the forest. In the 

 earlier lumbering- a large percentage of the tim- 

 ber was left in the woods, for the reason that 

 the cost of delivering low-grade logs at the mill 

 exceeded by far the value of the product. The 

 operators were lesion and without organization 

 or community of interest, and in the absence of 

 federal or state supervision destructive fires 

 were of frequent occurrence. The burning of the 

 old cuttings also destroyed in many instances 

 the smaller trees which had been left standing 

 and the new growth of all varieties of timber. 

 The system of lire patrols now in vogue in most 

 timbered localities is giving good results in the 

 line of protection, and it is probable that there 

 will not be a recurrence of the disastrous forest 

 tires of the past. 



Progress of the Association. 



Tour association has made satisfactory prog- 

 less during the past year in all departments of 

 its work, as will .TppMni- from the reports of the 

 oCacers and th.- ~.\.):il .iiMjiii ir,w. The im- 

 portance of a^-- ,111 ' ij 



manifest, .ind :iii . .1 ■ 



wisdom of i;rii, i,,; .1,,. ini.l.- 

 value of the iiiiuiiu.iuou uhi', 

 therefrom. 



In retiring I wish to thank you and your con- 

 stituents for the loyal support accorded the as- 

 sociation during my administration of its affairs. 

 I have now served as your executive for two 

 vears — the statutory period — and shall step 

 down and out with full appreciation of the hon- 

 or you have conferred upon me. 



iiizing the 

 illy results 



The Secretary's Eeport. 



Secretary Geort;v K. Smith fnllowed with 

 his annual rr|...ii, ■. nhii ,- 1,,,. .;i\l-u: 



the following list 



Southwestern Washington I.br. 



Mfrs.' Assn 28 200,000,000 



Montana Larch & Pine Mfrs." 



Assn 16 112,000,000 



Western Pine Mfrs.' Assn 03 609,000,000 



Pacific Coast Lumber -frs.' 



Assn 200 2,589,000,000 



Georgia & Florida Sawmill 



Assn 87 800,000,000 



Northwestern Hemlock Mfrs." 



Assn 74 .■582,000,000 



Northern Pine Mfrs.' Assn... 62 1,645,000.000 



North Carolina Pine Assn 108 752,000,000 



Wisconsin Hardwood Lumber- 

 men's Assn 43 100,000,000 



Southern Cypress Mfrs.' Assn. 57 467,000,000 

 Hardwood Mfrs.' Assn. of U. 



S 262 422,000,000 



Vellow Pine Mfrs.' Assn 306 3.840,000,000 



One year ago the same associations had 1,498 

 members and produced 14,327,000,000 feet. 



Fn.iii ilh iiisi iiil.irmation obtainable it is 

 thouLlii '1.' ; i,M .if business in lumber is 



about : .III i\i. thirds per cent of normal. 



the 'I ^ :,ll^l■lv due to the falling oft 



in piiii 111 - I - iiiiiriiads and car companies for 

 new work and" renewals. Until this heavy con- 

 suming element again enters the market normal 

 conditions as to demand or values will not pre- 



The 



of lun 



by 1 

 in 1907 

 as compared with 190G was 2,315,000,000 feet 

 less, or a reduction of sixteen per cent. The total 

 amount manufactured in the United States dur- 

 ing IH'IT lias lieen comiiiied by the census de- 



par 



by 



I{ s u J .,,!.. stocks of 



luml.ri .11 I ml .1 1. ;■"'-. ■!- 'Hared with 



Janu;u 1 1 1'"'^ I'l i"«.r, till liilii. nun m yel- 

 low piiie ainne aiiii.uutiiig to over 200,000,000 

 feet. ^ . 



The estimate submitted a year ago as to income 

 and expense proved to he conservative, and but 

 for the unfavorable .■.mdifions existing during 

 the last half of ili. 1;- iil var the showing would 

 have been bet I. 1 1 ■ in ii ipaled a year as". 



The treasup I ill .over the incom.' 



and expense in .1. im. I m .'stimate for the en- 

 suing year iudi.-au... Ui.u uur sinking fund to 

 meet our bonds at maturity will receive the 

 proper proportion after meeting all expenses. 



Owing to the prevailing conditions no new 

 features in our association work have been at- 

 tempted, and we have reason for congratulation 

 that oui credit 1 iting and statistical work has 

 piogiessed so satisiactoiilv and bids fair to in 

 crease in efliciencv and usefulness 



Vie ha\e with us today visiting delegates fiom 

 the Oregon Lumb 1 Manufactureis Association 

 which issomtion his not as vet affiliated witli 

 us W tiust the\ mil tairv home a repoit 

 whi h will iL^ult 111 In 1 ible action by then 01 



s ill come up for dis 



! lesented will tui 



,1, us which will u 



1 inbeis of affiUal 1 



suppoil ul the noilv nc ait doing, this lepoit is 

 lebpectlully submitted 



Financial Statement. 

 Income. 



Assessments, 1907 5 6,702.61 



Credit rating book $17,451.57 



Special reports 1>§9?J^ 



Pocket editions 546.50 



Fees on collections 1,002. 1 9 



Advertising 27>3.9'o ^_ 



Interest on deposits 34.11 



Total $28,632.69 



Expenses. 

 Credit rating department. .$22,835.22 

 National association 3,o84a9 



Total $27,302.00 



'"'penses"'""' '"'' .'.^." $ 1,330.69 



Increase in value of flies.. $ 2,981.77 

 Less depreciation. $ 414.10 

 Interest on bonds. 1,614.00 

 Interest on bor- 

 rowed money. . . 183.00 



Mil.: 



70.67 



Net income.. $ 2,101.30 



Trial Balance March 31, 1908. 

 (After closing entries.) 

 rasli $ 421.10 



,.,,>'f ■.;,;,, I,,,-, .../ $ 3,128.83 



N ,11, ,,,■,! ,,ili,T iiiMiiiur... .. 270.43 



. [■ ], „|. .,.,,;, I ..II lllrs. . 2:!,fi49.9.-> 



, 1; |. , ■ iiii'iMii!-... . . 1.702,08 



, |. I I . . .1 . mil. .rial. 8,090.46 



I w.i Mil , I. 1 ... 160.00 



C li n I I ..nils. .. 26,900.00 



1,063.47 



1,338 12.008,000,000 



$36,288.09 $36,288.09 

 J. B. White of Kansas City Mo., delivered 

 an address upon a subject near the heart 

 of every lumberman interested in aiding 

 reforestation and the conservation of stand- 

 ing timber. 



Taxation as Belated to Forest Preservation. 

 Adam Smith lays down four maxims in regard 

 to taxes in general, which are described as max- 

 ims of equality, certainty, convenience and econ- 



importance, but the maxims of equality and econ- 

 omy are of the greatest consideration. 



A tax on any certain class of property should 

 be levied so as to require equality of sacrifice not 

 only in the one class, by that class of contrib- 

 utors, but it should be equitable in comparison 

 with assessments made on other classes of prop- 

 erty that are held by natural right, in order that 

 all classes shall assume Uieir Just share, and no 

 more, of the expense of government. There is a 

 distinction between property held by natural 

 right and pioiiertv owned and used as a result of 



privil..- . I'.ut in all cases the State 



claim- I i:; lit of eminent domain, the 

 priori I tlie public good. Commod- 



ities ill _ iliat are readily reproduced 



are Iha .1 a- ili.\ ar.. produced, and the State 

 makes a distinction as to whether they are lux- 

 uries or necessities. 



It is claimed now by some that the State has 

 the right, under the necessity of economy, and 

 for thi. i.ulilic good of this and future genera- 



of future gener 

 in great iraedia 

 tainly has the 

 low rate of ta 

 taxation that 1 



LEWIS DOSTEK. NASHVILLE. TEXN.. REP- 



resentim; iiAuiiWDiin manufac- 



■II Ul i:~ \s,-.i.IATION-. 

 prevented ft..!. . nn'^ from. For it is 



a well-estal.li-i I 1 1' 11 i lie subjects of the 

 Stale sh.ml.l 1 1 1 ui ju-oportion to the 



revfiiii. will.! I Iv r-njoy under the 



Iir,,i... I . . -. I .. iiii.Ti ..n any other 



jji-Lii. li .1. 1.. ■ . onfiscation. 



Kul ■ . .. . ^ ^ .1 . . ■ iiih ... ati.d by some 



thc.i I - :.. I.. ... |. . . ■ I .1 1 i' ^\ Hi impose no 



:,uni..ii III. III.. >..■.! .1 .1 ..... i ..;... III. II 11 will have 



a ti'u.l. n. \ 1.. i. - : . i. II ami that the 



subsiiiuii.'.ii ..! 1 1 . -I" |.| '^ite owners 

 woul.l inii'..:!-. ... ..! - II.. and regu- 

 late vain., an.l -iii.[.l\ 1 ■■. ..in 1 1 :i :.l \ among the 



people, wlier.'as lu ili.> inuli iplii.ii.v ul owners and 

 the disturbance of values by seliish and ruinous 

 competition the country suffers occasional great 

 and irreparable loss from the ensuing waste 



nc, ,1,'.-. . . .|:_ .. ..I . . .' a.company- 



th.> masses must be held superior to the claims 

 of the individual. While to some this inter- 

 pi-etatliui of the law may seem to strike at the 

 root or private ownership of property, yet emi- 



