4-' 



HARDWOOD RECORD 



I'rank H. Bloomer, a local lumber dealer, was 

 elected to membership. 



A motion was made and carried that the presi- 

 dent appoint a nominating committee. The fol- 

 lowing committee was appointed : Claude Maley, 

 Daniel Wertz and R. .1. Broadwell. which later 

 made the following nominations : For president. 

 D. M. MacLaren ; first vice-president, Fred Uietz ; 

 second vice-president, F. M. Cutsinger ; secre- 

 tary and treasurer, .M. E. Cummings ; directors, 

 €. r. White, Chas. Wolflin and Daniel Wertz. 



Upon motion of C. Wolflin, seconded by Jos, 

 Waltman, the above ticket was electe.. by accla- 

 mation. 



The president designated Tuesday, .Tan. 10, as 

 the date for the special meeting to be held in 

 the parlors of the New Vendome hotel to com- 

 plete arrangements for the entertainment of vis- 

 itors on Jan. IS. 



T'pon motion the meeting adjourned. 



Annual Meeting Pennsylvania Insurance 

 Company. 

 The annual moiting ot the Pennsylvania Lum- 

 bermen's Mutual Fire Insurance Company was 

 held at the company's office. 80G I-afayette build- 

 ing, Philadelphia, Jan. 23. In the morning the 

 board of directors held its meeting, which was 

 followed In the afternoon by the policy holders' 

 nieetlnsr. The following wer- elected for the 

 coming year : 



A i;. mii:m.\\. I i;i.siii;;.\ I mmim.w i im 

 l:i:i; iiiMl'.\N\. i di is\ ii.i.i: l\.\ 



Pkesident — Kdward !•'. Ilensun. 



First Vice-Piiksiuknt Iticbanl Tcirpiii. 



Skcoxd Vice riiKsii>i:NT W. '/,. Sitnr. 



TUE.VSUBEI! — Edwin II. Cnane. 



Secketaky — Harry Humphreys. 



DiiiECTOKS-Edwlii H. Connc, l'liil;iilclpliia ; 

 William O. Curtis. Williiim Curtis' Sons Com- 

 panv. Boston, Mass. : It. It. (irlswold. A. Itobcr- 

 son"& Son, Bingh.nmlnn, N. Y. : Edward F. Ilen- 

 soD, Edw. F. Hcnson & Co., Philadelphia ; Harry 

 Humphreys. H. Iluinphreys & Co.. Canidi'n. N. J. : 

 Louis A. Mansfield. New Haven, Conn. : T. 

 Atkins Murphey, .Murpbev-IIardv Ojnipany, New- 

 ark, N. J. : Hueh McLean, IIunli McLean Lum- 

 ber Company, BuHalo. N. y. ; Albro J. Newton. 

 Albro J. Newton (Company, Ifrooklyn. .\. Y. : 

 T. F. livman, A. Itvman & Sons. Wllkes-Iiarre, 

 Pa. : W. S. Sener, <i. Sener & Sims. Lnncister. 

 Pa.: William Henry Sinedley. Sinidby I'.rus. 

 Companv. Frankford, I'hiladelplila : Hichard 

 Torpln. " Uichurd Torpin & Co.. IMiiladelphla. 



Finance C').mmittee — Edward F. Ilensoii. 

 chairman ; Richard Torpin. W. Z. Sener, Edwin 

 H. Coane, William Henry Smedley. 



Ai'DiTons — Emil Guentber, I'hiliidelphia : My- 

 ron J. Kimball, Kimball & Prince Lumber Com- 

 pany. VIneland, N. J. : Clayton W. Nichols, Phila- 

 delphia. 



A forty per cent dividend was ordered paid on 

 all policies as they terminate for the year com- 

 mencing with Feb. 15. 



The following statement shows the condition 

 of the company on Dec. ,11. 1011 : 



L'ASII ASSETS 



.\pproved stocks and 



bonds, mkt. value. . :? 4:58.080.00 



First mortgage loan 



on real estate 3..'>00.00 



Cash in office .')07.03 



Cash in banks on 



interest GG.619.6S) 



Premiums due i;i.ti27.68 



Agent's balance ..... 283.45 



Interest due and ac- 

 crued G.43S.15 



Total cash assets ... .$ 537,656.00 



LIABILITIES 



Losses in process of 



adjustment ,$ 9,741.16 ? 



Taxes and other bills 



due or accrued.... 4,186.29 

 Inspection cltarges due 



o n premiums 1 n 



course of collection. 1,552.59 

 itJnearned premiums on 



policies in force. . . . 180,481.32 



Total liabilities ...$195,961.36 $ 

 Net cash surplus 341,694.64 037,656.00 



Contingent assets, i. e., 

 extent of power to 

 assess ,$ .$1,082,887.95 



Total assets $1,620,543.95 



Insurance in force $16.."51,604.02 



I'remiums in force 360,962.65 



Attention is called to the fact that this com- 

 pany increased its insurance in force $2,279,088 

 during 1911, making $16,331,604 insurance in 

 force on Dec. 31, 1911. There was likewise a 

 large increase in premiums in force, and this 

 increase amounted to $47,907, making the total 

 premiums in force at the close of last year $360.- 

 962. Cash assets increased $61,083, making to 

 lal cash assets $522,175 .at the end of the year. 

 The surplus increased $37,129. so that the Janu- 

 ary statement shows a surplus of $341,094. The 

 losses incurred and paid in 1911 amounted to 

 $125,497. 



From the above figures it wnll be seen that 

 this company made a long stride forward last 

 year and all those associated with the com 

 pany have every reason to feel gratified. 



Lumber Underwriters Have a Prosperous 

 Year 

 riie regular annual meeting of the Lumber 

 I'Tiilerwriters was held at the home office, 66 

 Uroadway. New York, on Jan. 17. 1912. The 

 following members were present : F. R. Bab 

 cock. C. II. Carleton. F. W. Cole, Lewis Dill. 

 1!. W. Higbie, W. A. Holt, W. C. Laldlaw, II. S. 

 Lee, U. C. Lippincott, G. B. Montgomery. E. F. 

 Perry. C. 11. Prescott, .Tr., F. C. Rice and H. F. 

 Ta.vlor. 



The usual routine business was conducted and 

 the figures of the past twelve months thoroughly 

 discussed. The statement shown herewith shows 

 a prosperotis and satisfactory year's business and 

 I hat tlie organization had a very healthy growth 

 in 1911. This organization has had the backing 

 «tf tlte lumber trade througliout the country, and 

 ils efforts to bring about right conditions in luni- 

 l)er instirance is shown to be thoroughly .'ippre- 

 ciated. The direct management of tlic organi- 

 zation is in the hands of E. V. Perry, who is also 

 secretary of the National WIir)lesale Lumber Deal- 

 ers* Association, and Louis II. Parker, deputy- 

 attorney and assistant manager, has direct charge 

 of the underwriting and office management. >Ir. 

 Parker has had a very wide fire Insurance experi- 

 ence, having been connected with some of the 

 large fire insurance companies throughout the 

 Cnited States. 



The following is the statement of resom s 



and liabiildes Issued on Jan. 1. 1912: 

 itESOoncES 



Cash In banks $193,753.89 



State bonds 10,000.00 



Losses due from reinsuring com- 

 panies 1.1T0.47 



I'ncollected premiums fnnne over 



diiei .-.1 .445.28 



LIABILITIES 



Reinsurance reserve (50 per cent of 



premiums in force) $118,830.01 



Due reinsuring companies tpre- 



miums) 5,346.67 



Set aside to pay unadjusted losses, 



etc 19,440.00 



Commissions and brokerage 1,965.69 



Accrued ta.\es 500.00 



Surplus 110,287.27 



$256,369.64 

 lUuder recent improved laws itf the state of 

 New York, this organization has been given a 

 prominence which will be of great benefit to it 

 and, after careful investigation, has been found 

 to measure up fully to the test of the law, re 

 ports annually to the department, is subject to 

 their supervision, and is considered to be one 

 of the strongest lumber insuring organizations 

 in the field today. 



A Louisville Consolidation 

 An annouucement of great impiirtauee was 

 made this week by A. E. Norman of the Nor- 

 man Lumber Company, who stated that E. B. 

 Norman & Co. have been consolidated with his 

 concern under the name of the Norman Lumber 

 t'ompan.v. Tlie capitalization of the latter com- 

 pany will be increased from $75,000 to $109,000, 

 and tlie officers will be A. E. Norman, president 



$250,309.64 



!•:. I!. NUK.M.W, \ 1< i: rUESlDKN'l' .Mii;.\l.\N 



i.r.Mi!i:i! (■(iMi'.\NV. i.dnsvii.i.t:. kv. 



and treasurer: E. li. Noriuan. vice-president, 

 aud A. B. Thurman, secretary. S. E. Booker, 

 who has been in charge of the l)ox factory of 

 n. B. Norman & Co., will be a director of the 

 Norman Lumber Company and will continue to 

 supervise the box raanufaclurlng <'U<1 of the 

 business. This department will continue ai Sliel- 

 by and Fulton streets, although the ri'iuiiinder 

 ot the business will lie concentrated ai Ninth 

 and Magnolia streets, where the Norman Lumber 

 Company has a wood-working plant. The com- 

 bined company ot course takes over the big hand- 

 mill of E. B. Norman & Co. now going up at 

 Holly Ridge, La. 



Incidentally, P. C. Hooker, who has been con- 

 nected with E. B. Norman vt Co. for the past 

 two years, has organized the Bookcr-Ocll (Com- 

 pany, and has purchased the lumber stock of 

 E. B. Norman & Co. on the Fulton street yard, 

 securing also the company's lease on property 

 at Clay and Fulton streets. The new concern 

 will operate a large rehandllng yard, and will 

 receive and ship (luartend and plain oak, pop- 

 lar, ash, Cottonwood and gum. Stuart It. Cecil, 

 the other memlier of tlir firm, was wltli the 

 iVormnn Lumber ('"iiipnny ''or several years. 



