54 



HARDWOOD RECORD 



IIAI.I'M 



MAV. MKMl'IUS, TENN., AUBITRA- 

 TIDN rOMMITTEE 



M. IM.ATTEI!, NORTH VKKXO.N I.TMISEI! 

 (•O.MI'ANV, NORTH VKUNON, INI) 



CLAUDE MALEY, EVANSVII.LE. INL).. OAK. 



ASH AND CHESTNUT STATISTICS 



COMMITTEl-; 



not going to huve voiy mucli trouble in disposing of it. Tin 

 gum campaign that has been carried on in connection witli cot 

 tonwood has found a market for a world of tliat timber. 1 

 think we will have no trouble in moving our material this com- 

 ing _\'ear. ! am certain of it in Cottonwood ;niti 1 tliink so in 

 gum. 



I'resideiit Carrier: Is there anybody else that lias anytliing 

 to say as to tiie condition of stocks? I would be very glad to 

 lioar from any one. Information is greatly ajipreciated liy the 

 different members. Is Mr. Harrifon in the room. Mr. P'ry ? Let 

 us hear from Mr. Fry in regard to gum. 



Mr. Fry: (luni is pretty good. Growing out of our :iil\crtis 

 ing campaign, we lia\i' very largely increased the prii-c and de- 

 mand for Fas in red gum and are now carrying on a caiiipa'gii 

 for sa]) gum. It is commencing to get there. 1 li:ive io> do.ibl 

 but wlnit we will li:i\'e ;i very good demand lor :ill the ^.ini 

 that we can produce this year. Low-grade stock is comnieiicing 

 to move now. There is really not so much low-grade gum in the 

 market as we all thought there was. Stocks in the consuming 

 market are aliout thirty per cent less than we tlioiight and wo 

 :inticipate no trouble with gum. 



I'resiilent ('arrii'i: 1 will say as a gum inatiuf;ictiirer that so 

 far ;is r'^d gum is cuiii-criicd it is in good sluipc. I'rici's lia\(' ad 

 \ a need in great jiroportion. 



Ill connection with some routine announcements, SeiTct;iry I los 

 ter stated that the following 1910 committees would hold over 

 for litll, viz.: On Transportation; On Defebaugh Meniorial; On 

 Standard Weights; On F'^orestry; On C^ost of Manufacture; On 

 Sales Code and the F'i.xecutive Grading ('ommission. He further 

 ;innounced that the meeting of the Executive (irading (.'omni-s- 

 sioii wouici be lield in room 114 in <'onnection with the Kxecuti\"e 

 li(i:ird, immediately mi ad.jouriimeut of this session. 



On motion of Mr. Vansant the comention now adjiniriieii to 

 10::',il ii. m. Wednesday, Felirnary 1, 1911. 



MORNING SESSION, FEBRUARY 1 



The convention met ])ursiiant to adjournment, I'resiilent Carrier 

 in the chair, Secretary Doster recording. 



President Carrier: Gentlemen, we have with us this uuiriiiMg 

 a gentleman wdio is going to address us upon (inaiici;il condi- 

 tions, a man who was raised up in the country where such men 

 as Mr. Vansant, Mr. Crane and Mr. Crawford and nniny other of 

 nnr prominent members came from. He is thoroughly informed 

 as to the lumber business :ind has come to Cincinnati ;is c;ishier 



of the Fifth Third 

 plause.] 



X:itional Bank— Mr. Monte J. Goble. [Ap- 



Finances 



\\licii I sec this ;iallicriu^ ni" luiubcrmcn my mind uatunilly goi-s back 

 a r.'W years to when I put in my spare time on Saturdays, and a good 

 part of my suiiunei- vacations, assisting in the measurinfi of logs as 

 they came oiil .>r llie Hi;; Sandy, tlic Cuyan. Ilie Twelve I'nie and the 

 Kanawhas. 



I see before me in this audience many men wlio at that time were 

 beginning- to engage in the Iuml>er trade. When I tliink of the few 

 short years that have passed, and realize that these men are now 

 eitlier millionaii'c's. oi- near-miUionaries, I know that there is very 

 iitfb' I can say to s-uch men on the snliject of finance. 



'i'lie subject is J.O I)road that it enters minutely into rlie daily life of 

 every person, and. in this country, very early in their lives, so that to 

 attempt to say anylliiiig on the subject which .von do not alrend.r know 

 would be aboiil as easy as to give you infm-mation n-lative to the 

 lumber trad ■ 



It mif^hl bi' well, however, (o reiall lo your minds that the .\mer- 

 ican bank of today is, in a certain sense, a public institution ; althougli 

 its shares are owned by individuals, thi' intimate and close relation to 

 the life of the community it serves causes it more and more to take on 

 a public I'harfieter. and in passing I believe I may lie pardoned if I 

 say (lie splendid record of the government in overlooking and regulat- 

 ing the finances of thr^ national banks of this country during the last 

 lifty .years is a showing well worth rememliering. when we have brought 

 liefore us for eonsliieration the i|uestious of what shall be done with our 

 great interstate railroad systems and our gigantic industrial corporations. 



luTeiligeiit go\-erninent control has proven to be for the interest not 

 only of Hie piiiilie who liave not lieen shareholders, but the interest of 

 the shareliolders who tiave lie. n protected against mismanagement. 



As (xperienee has brought to its liig*li development the office of the 

 comptrolb-r of I he currency, which lias had the regulation of the banks, 

 so Ihe Interstate Commerce Commission will shortly, and in the years 

 to eonie, bring better results lo the public and the shareholders alike 

 liy the Iwtter regulalion of our railroads and other corporations. 



T'liere is a inobaliiliiy tbal Ccuiuiess may shortly pass some satisfac- 

 tory curreiiey legislalioii lliat will give tl'.at necessary quality of elas- 

 lieiiy to our currency which will i nable our banks more effectually during 

 Itie ert)p-moving periods, and at other times when the demand for actual 

 money is greatest, to supply this demand by a properly regulated and 

 natural increasi- in our currency ; and now that the Currency Commis- 

 sion, Ihriuigh its chairman. Senator Aldrich. has given us something 

 deliniti', it is lo lie hoped lliat the subject will be given the best considera- 

 tion, aud that our linancial machinery will be fully adequate to take care 

 of the eoiistniilI,\- growing liurdcn of business credits. If it gets clogged 

 the workmen liceome idle, jusf as the machinery of your mills and the 

 men wlio o|ieiiit ■ lliem would if you attempt to push tliem beyond their 

 daily i:ip;irity. 



When wi> know tl;e iaimensity of the figures represented in the clear- 

 ings of our own eity in cme day, aud realize that these amounts are 

 only a siiuill p;iit 'it tlu' tinaneial transactions which ilo nol enter into 



