Manufacturers^ Eleventh Annual 



The eleventh annual nieeting of the Hardwood Manufacturers ' Asso- 

 ciation of the United States held at the Hotel Sinton, Cincinnati, O., 

 February 4 and 5, resulted in a world of valuable information and 

 suggestions. There were about five hundred present. 



' President W. E. DeLaney of Cincinnati opened the first session of 

 the meeting Tuesday morning, February 4, by introducing C. A. 

 Hinsch, president of the Business Men's Club of Cincinnati. Mi-. 

 Hinseh welcomed the association to the city in a very cleverly worded 

 address, in which he diverged somewhat from the set form of such 

 talks. In speaking of the business conditions of the country, Mr. 

 Hinsch, who is president of 

 the Fifty-Third National 

 Bank of Cincinnati, said that 

 he personally felt conserva- 

 tively optimistic in regard, to 

 the future of the country. He 

 deplored, however, the tend- 

 ency toward socialism, saying 

 that it is one of the most dan- 

 gerous problems which we 

 have to confront. 



Mr. Hinseh said that big 

 business, so-called, has come 

 to stay and should be con- 

 trolled and not destroyed, and 

 that legislation should be 

 passed providing for the is- 

 suance of federal charters for 

 all companies doing an inter- 

 state business, especially those 

 doing a volume of five million 

 dollars or more annually. He 

 suggested that they should be 

 subjected to an examination 

 by the government similar to 

 that now being exercised over 

 national banks, and that all 

 securities issued by these com- 

 panies should represent real 

 values and should be passed 

 r- on by the commission for 

 the purpose of protecting the 

 investing public. 



Mr. Hinsch touching on the 

 tariff question said that he 

 did not consider that the com- 

 ing administration will inau- 

 gurate any rash policies in 

 regard to tariff legislation. 

 He based his reasoning on the 

 fact that the national go\eru- 

 nient must have a large rev- 

 enue to meet its disburse- 

 ments, and that for this rea- 

 son, if for no other, we are 

 a long ways from what is com- 

 monly known as free trade. This suggestion is particularly pertinent. 



The speaker also suggested that a revision of the present currency 

 system will result in greatly strengthening this country's position 

 among the leading financial nations of the world. He said that if 

 the Aldrich bill is not passed, we should enact a law giving to the 

 Secretary of the Treasury, in conjunction with the Comptroller of 

 Currency, and the President of the United States, authority to issue 

 additional currency to national banks, when the exigency of the case 

 requires, equal in amount to twenty-five per cent of the paid in capital 

 of the national bank making application. 



Mr. Hinsch "s remarks were warmly greeted. 



W. E. DEL.\XEY, CIN'CINNATI, O., RE ELECTED PRESIDENT 



President DeLaney then introduced Charles F. Shiels, president of 

 the Lumbermen's Club of Cincinnati, who also extended a warm wel- 

 come to the visiting lumbermen on behalf of the local members of the 

 trade. 



D. M. Rose of KnoxvUIe, Tenn., was then introduced by the chair 

 to respond to the addresses of welcome, on behalf of the association. 

 Mr. Eose departed from the usual cut-and-dried formula of responses 

 and talked in a humorous and highly entertaining vein, getting close 

 to his hearers. His humorous allusions to the East Tennessee mountain 

 section from which he hails were greeted with laughter and applause 



by his listeners. 



While Mr. Rose's speech 

 was not in accordance with 

 the regular form, and con- 

 sisted mostly in bursts of 

 humor, it was none the less a 

 cordial appreciation of the 

 hearty welcome extended by 

 the city and the local lumber- 

 men. 



President DeLaney then 

 read his annual address, which 

 1 iilhnvs; 



Address of President 



The judgment of your execu- 

 tive board in selecting Cincin- 

 nati as the place in which to 

 hold the eleventh annual meet- 

 ing of this association is con- 

 lirmed by the large and repre- 

 sentative attendance that I 

 have the pleasure of greeting 

 iliis miirnins. which attendance 

 is a eomplimont not only to the 

 urbanization, but to your retir- 

 ing- cliief olBcer as well, to 

 whom you have given without 

 reserve your confidence and sup- 

 port tor the past year. 



Cineinnatians as a whole 

 liave that instinct of hospitality 

 that always makes you feel 

 their spirit of welcome when 

 you come, and regret when you 

 go. and I am sure this associa- 

 tion will always have a warm 

 place in Its heart for Cincin- 

 nati. 



.\ year ago in accepting the 

 presidency I promised you I 

 would do my best, and today 

 it is a satisfaction to feel this 

 promise has been fulfllled. re- 

 gardless of the fact that the 

 much sought for universal In- 

 spection has not yet been accom- 

 plUshed. 



When addressing you it is 

 presumed that grading and In- 

 spection will be the important 

 topic at issue, but today it is 

 my Intention to give you a 

 few thoughts as to other matters, passing the question of inspec- 

 tion with the simple statement that, while there have been numerous 

 failures among the producers of hardwoods who have pursued the policy 

 of grading their lumber from the best side of the board, there has not. 

 during the history of this association, been a failure of any of its mem- 

 bers who have adhered to the principles of this organization. In passing, 

 I desire to mention and suggest for your thought and Investigation the 

 plan of those Interested in the production and distribution of hardware. 

 'In this industry there is an organization of manufacturers, one of dis- 

 tributers, also an organization of the retailers: each dealing with the 

 problems affecting their particular branch of this Industry. At annual 

 periods they meet In convention, and the problems which affect their 

 industry as a whole are threshed out. Frequently questions of importance 

 are left to the executive committee for ultimate disposition. 



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