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Hardwood Record — ^Veneer & Panel Section 



December 25, 1916 



Walnut Buyers Know the 

 Meaning of PENROD 



Those who have had experience in 

 buying American Walnut stock 

 know w^hat an advantage it is to deal 

 vv^ith Penrod. This means, first, com- 

 plete stocks, w^ide variety, excep- 

 tional character of material; second, 

 long experience, expert know^ledge, 

 ability to insure satisfaction. 



We Have What You Want 



PLAIN AND FANCY STOCK 



Veneers and Lumber 



The illustration shows some of our 

 Burl Walnut Veneer Stock, matched 

 up to form a panel of exceptional at- 

 tractiveness. If you want your prod- 

 ucts to have character and distinctive- 

 ness, and to be w^orth expending all 

 the care and labor which must go on 

 them, regardless of the quality of the 

 foundation material, you w^ill make 

 no mistake in using Penrod Walnut. 



Penrod Walnut & Veneer Co. 



"Walnut Specialists for Thirty Years" 



Walnut Lumber Walnut Veneers 



KANSAS CITY, MO. 



committee had gone about its work and what it had 

 found in the way of need for reorganization along new 

 Hnes which would give more attention to the selling end 

 of the business than had been given in the past. The 

 business now being transacted by the association 

 amounts annually to $5,000,000, and the plan of reor- 

 ganization, as presented by the committee, included three 

 principal items: 



1 . A paid secretary who shall devote all of his time 

 to the business of the association. 



2. Headquarters should be an information bureau for 

 the benefit of the members. 



3. There should be uniform grading rules for the 

 guidance of members. 



The secretary should have authority to adjust dis- 

 putes between members, and between a member and a 

 customer. 



It was estimated that the association should have a 

 working fund of $12,000 a year to begin with, and it 

 could be increased in the future as larger business might 

 require. 



WORKING OUT THE PLAN 



It was considered necessary to formulate a plan by 

 which the reorganization could be accomplished. There 

 were some obstacles in the way, the chief of w^hich was 

 the clause in the by-law^s w^hich forbade sudden changes 

 in the organization. The chairman appointed a com- 

 mittee of three to investigate that matter, and any others 

 that seemed to need investigating. The appointments on 

 the committee were: 



C. B. Allen, Anderson-Tully Co., Memphis, Tenn. ; 

 B. W. Lord, Chicago Veneer Co., Danville, Ky. ; F. A. 

 Marshall, Wisconsin Veneer Co., Rhinelander, Wis. 



The committee worked several hours in thrashing the 

 plan into shape to present to the meeting. It was in the 

 form of an agreement by members of the association to 

 reorganize, and was as follows: 



Chicago, 111., Dec. 12, I9I6. 



We, the signers of this agreement, subscribe to the constitu- 

 tion and by-laws of the National Veneer and Panel Manufacturers' 

 Association, and we hereby authorize and appoint with full power 

 to act, the three following members: 



B. W. Lord, Danville, Ky. 



E. V. Knight, Indianapolis, Ind. 



P. M. White, Algoma, Wis. 



We also agree to pay a monthly assessment on the basis of one- 

 fourth of one per cent, figured on the net sales, f. o. b. mill. These 

 payments to be made monthly on the tenth of each month, be- 

 ginning Jan. 10, 1917. Each month's payment to be based on 

 the sales of the preceding month. 



The minimum payment must be ten ($ 1 0.00) dollars per month, 

 and the maximum payment shall not exceed fifty ($50.00) 

 dollars per month for each member. 



When accepted as members by this association, we agree that 

 our membership will be effective for twelve (12) months. 



This agreement not to be binding unless signed by not less than 

 thirty-five (35) members. 



We hereby agree to give our full power of attorney to Messrs. 

 Lord, Knight and White, who shall serve for one year from the 

 date this agreement goes into effect, giving them full authority and 

 power to employ a competent secretary at an adequate salary. 



All Three of Us Will Be Benefited if You Mention HARDWOOD RECORD 



