HARDWOOD RECORD 



26A 



Van B. Pen-ine, Perrine-Ai-i:Tstrong Co., Ft. 

 Wiiyne. Iml. 



!■:. W. Pialt. .Tr., I'latl \Vi)rlhilli;ton Co.. 

 Ciofton, Ky. 



G. M. Itobosou. Farmvllle Mainu'acnurinK Co.. 

 raimvillp. Tenu. 



.Tno. C. Kodahaffer, T. B. Stone Lumber Co., 

 Cinpinnati. O. 



.1. R. Sicldosteel, Sieklesteel I.viiubef Co., De- 

 troit, Mifh. 



Franklin II. Sniiili. American l.nmberman, 

 Cbieago. Til. 



W. A. Snyiler. Pioneer Pole & Shaft Co.. 

 Piqiia. O. 



v.. Sturm. Sturm & Sturm, Sacramento. Ky. 



Ilonell Taylor, Taylor & Daskervill, Staun- 

 ton, Tenn. 



A. P. Waterlield, Yeli&w Poplar Lumber Co., 

 Coal Grove. O. 



Geo. M. Waters. G. .\L Waters. New Pales- 

 tine, Ind. 



1". W. Webster, Huntsville Lumber Co., De- 

 catur. Ala. 



.T. .1. Wiesner. Ifookwalter Wbeel Co.. Miamis- 

 burs. O. 



,Ino. K. Williams. Lumber Trade .lournal. 

 New Orleans. La. 



.T. R. Mersma, Colina Lumber Co., Cherry 

 Valley. Ark, 



.lolm 11. Wbaley, SoutluM-u l.iiraberman, Nasb- 

 ville, Tenn. 



Wm. Spencer. Kenlutky Lumber & Veneer 

 Co.. Robbins, Ky. 



(Jeo. A. ISlessed. Wolverine Manufacturing 

 Co.. Detroit, Mieb. 



II. K. Hacon, Hacon Nolan Hardwood Co., 

 Mempbis, Tenn. 



Frank 11. Enriglit. Kentucky Lumber & Ve- 

 neer Co.. Kobbins, Ky. 



B. M. Schantz, E. M. Sbantz Lumber Co., 

 Glendora. Miss. 



Uolfe Gerhardt. <': L. Kilter Lumber Co., 

 Clay, W. Va. 



W. A. Gravis, I'ekin, Ind. 



F. E. Legore, Newark, O. 



Ellis V. Stewart, E. C. Atkins & Co., Inc., 

 Indianapolis, Ind. 



E. (J. Uohinson. Mowbray & Robinson, Cin- 

 cinnati, O. 



Charles lioos, C. Roos, Williamsport, Pa. 



W. 11. I'bibbs. I'bibbs & Peppb, Bainbridge, 

 Obio. 



.las. Huckley. lUookville. Ind. 



Frank F. Fee. Newark. Ohio. 



NeWs Miscellany. 



The Creelniau Failure. 



F. E. Creelman of Chicago and New- Orleans, 

 who has long been identified with the hardwood 

 trade of the United States, has made a lamenta- 

 ble failure which carries with it F. M. Creel- 

 man, a .son, who for some years has done busi- 

 ness in his own name at Chicago, and C. S. 

 Creelman. another son who engaged with him 

 at New Orleans. It is thought that the failure 

 will involve but very few members of the lum- 

 ber trade, as th.5 Creelman indebtedness was gen- 

 erally to banks in various parts of the country. 

 The newly organized Eank of America of Chi- 

 cago was the first one to fall in the crash, hav- 

 ing over-loaned to the Creelmans. As near as 

 can be analyzed the Creelman imbroglio is trace- 

 able to an overa'mbitiou for commercial great- 

 ness in lumber lines, without the necessary 

 finances or ability to carry on great enterprises. 

 The elder Creelman has the reputation of being 

 a competent lumberman, but he got a great way- 

 out of his depth in the giant enterprises which 

 he attempted to engineer. 



The first serious financial troubles of the 

 Creelmans came about when the John M. Smith 

 Lumber Company of Nashville went into bank- 

 ruptcy a few days ago. John M. Smith, its 

 president, issued a statement in which he de- 

 clared that the proceedings had been instituted 

 at the instigation of himself and the board of 

 directors on information that something w^as 

 wrong with the company. He asserted that the 

 assets were $200,000 and that its genuine lia- 

 bilities were about $80,000, but that he had 

 discovered that there were outstanding what 

 purported to be notes of the company, amount- 

 ing to between $2.50,000 and $300,000. He de- 

 clared that they had been issued without the 

 warrant of the company and that the first 

 knowledge of their existence came when they 

 began to fall due. These notes had been dis- 

 counted by the F. E. Creelman Lumber & Manu- 

 facturing Company; F. M. Creelman, Chicago; 

 the F. E. Creelman Lumber Company, Cairo, and 

 the Florida Lumber Company of Montgomery. 

 -Via. — all Creelman institutions. It seems to 

 have been a part of the Creelman system to 

 absorb various lumber companies of fair com- 

 mercial repute and to immediately issue large 

 (jnantities of commercial paper against them 

 for which there was no consideration except ac- 

 commodation. This paper was scattered and 

 discounted in banks in half a dozen or more 

 states. 



The Creelman holdings of timber and its 

 mills are largely located in the South, and when 

 their actual value is (igurcfl -mt — on paper 



ibey show to be worth a million dollars or more 

 — it is doubtful if they will realize any such 

 sum. Bankruptcy proceedings have been insti- 

 tuted in the various states in which the Creel- 

 mans have commercial interests ' and It will 

 probabl.v be many months before it is known 

 how serious the failure is. I'p to this writing 

 there Ji.is been no accurate analysis made of as- 

 sets and liabilities. Beyond <iuestion it is a bad 



failure. 



Annual National Wholesale Lumber Dealers' 

 Association. 



The fourteenth aun\ial meeting of the National 

 V\'hoIesitle Lumber Dealers' Association will be 

 held at the New Willard hotel, Washington, D. 

 C, Wednesday and Thursday, March 7 and ,S. 

 The various standing and special committees are 

 now at work and will shortly prepare their 

 annual reports, hence if members have any sub- 

 jects or suggestions which should he presented to 

 the convention they are requested to so advise 

 the secretary, E. F. Perry, promptly. Mr. Perry 

 also wishes members to note the arrangements 

 made with the railroads for reduced round trip 

 fares on the certificate plan. ' To make this 

 effective it is necessary that 100 certificates be 

 presented, therefore members are asked to request 

 the agent for a certificate when purchasing 

 tickets to Washington, whether they use it or 

 not, that it may aid in making up the total. 



It is desirable that as many members as 

 possible be housed at the New Willard, so that 

 it will be wise to reserve rooms at an early 

 date. Single or double rooms with bath range in 

 price from $3 to $7 per day and up. In case 

 accommodations cannot be secured there, the 

 Raleigh, Kiggs, Arlington, Shoreham and other 

 excellent hotels are close at hand. 



Everything points to a large and interesting 

 meeting, and Secretary Perry urges each member 

 to render such assistance as he can in making 

 it so. by active participation as well as by 



attendance. 



Big Deal in North Carolina. 



It is reported from Asheville, N. C. that one 

 of the most important timber deals recorded in 

 the section in recent years has been in part 

 consummated, and that the object of the pur- 

 chase is the erection of a great tannic acid 

 plant and the establishment of a furniture fac- 

 tory which will turn out a higher grade of 

 furniture than any manufactured in the South. 



It is said that one hundred thousand dollars 

 will be expended for the land and timber alone, 

 exclusive of the plants, and that North Carolina 

 capital alone is backing the enterprise. Those 



interested are Greensboro; High Point and Salis- 

 bury men of wealth and prominence, some of 

 whom, it is slated, are now engaged in furniture 

 nuinufacturing. 



The deal involves the actual transfer of 15,000 

 acres of land rich in hardwoods in the Big Ivey 

 section of Bnni'ombe county, and the purchase 

 of 15.000 acres additional on a stumpage basis. 

 Already large sums of money have changed 

 hands, although before the entire purchase is 

 finally closed the title of 10,000 acres of the 

 boundary will have to be investigated. Five 

 thoiisand acres involved constitute the well 

 known Coleman tract, and the boundary extends 

 northward from the Asheville watershed. The 

 furniture factory and tannic acid plant will be 

 located either at Democrat or Barnardsville, in 

 the northern section of the county. Neither of 

 these places is on a railroad, but both are on 

 the line which, it is alleged, will he opened to- 

 wards P.urnsville and Embreville. 



New Company at Memphis. 



The Gayoso Lumber Company will open for 

 business in Memphis the first of March, It is 

 capitalized at .$.j0,000 and its promoters are 

 widely known in the hardwood trade of the 

 country. The new concern represents the busi 

 ness formerly conducted by the Ransoms of 

 Nashville. The officers of the company are : 

 John B. Ransom, president ; Arthur B. Ransom, 

 vice president ; W. A. Ransom, secretary and 

 general manager, and Chas. R. Ransom, treas- 

 urer. 



Ample yard space for the conduct of the busi- 

 ness "has been purchased in South Memphis, 

 along the main track of the Yazoo *: Mississippi 

 Valley railroad. .\t present .Memphis will be the 

 storage yard and headquarters of the company, 

 and later a mill will be erected. The office is 

 now being built on the newdy acquired ground. 

 It is the intention of W. A. and C. R. Ransom 

 to move their homes to Jlemphis.. While infor- 

 mation is deficient on the subject it is doubtless 

 true that this new venture of the Ransoms will 

 in no wise interfere with the continuation of the 

 big liardwood business of John B. Ransom & Co 

 at Nashville. 



Special Meeting Wisconsin Association. 



Secretary A. E. Beebee has issued a call for 

 a special spring meeting of the Wisconsin Hard- 

 wood Lumbermen's Association by, order of Presi- 

 dent E. P. Arpin. This meeting will be held at 

 Marshlield. Wis., on Tuesday, March 27. at 

 2 ;30 p. m. sharp. This time was set to 

 accommodate members west and north of Marsh- 

 field who can not arrive earlier. 



It is urged that every member of the asso- 

 ciation endeavor to be present at this meeting, 

 which will be a very important and helpful one. 



Interstate Forest Reserve Meeting. 



At Charlotte, N. C, on March 3 an important 

 meeting will be held in the interest of the passage 

 of legislation by congress looking toward the 

 establishment of national forest reserves in the 

 Appalachian mountains, and for the establish-, 

 ment of state forestry associations. S. S. Mc- 

 Ninch, mayor of Charlotte, is chairman ex officio 

 of the proposed meeting. R. M. Miller is gen- 

 eral chairman and L. A. Dodsworth is secretary. 



The program includes a reception from H a. m. 

 to 1 p. m. by the Southern Manufacturers' Club, 

 and during the afternoon and evening at the 

 Academy of Music the meetings will be held, 

 which will be presided over by Gov. R. B. Glenn 

 of North Carolina. The program outlined is as 

 follows : 



Address — Gifford Pinchot, chief forester of the 

 United States, Washington, D. C. 



Address — Alfred Akerman. state forester of 

 Massachusetts, Boston, Mass. 



Address — Alfred Gaskill, United States For- 

 estry Department, Washington. D. C. 



Short addresses by the governors and official 

 citizens of Maryland, Virginia, Georgia, South 

 Carolina, Alabama, Tennessee, West Virginia, 

 Kentucky. Florida. 



