HARDWOOD RECORD 



3» 



The Status of Uptegrove's Affairs. 



The court lioaring in Hmoklyu on November 

 14 on the suit of the American Cigar Itox Lum- 

 ber Company et al. vs. W. K. Tptcgrovo & Bro., 

 whose linancial embarrnssmeut was noted In the 

 last Issue of the nKOOKii, as to why the receiv- 

 ership should not be made permanent, was at- 

 tended by practically every creditor and the out- 

 come was favorable to a continuance of the re- 

 ceivership under which the various operations 

 will be conlluued and the debts of the firm liqui- 

 dated as soon as possible. The report of the 

 affairs of the firm as made look favorable to a 

 full payment of all claims and It Is believed 

 that If such procedure is allowed In continue the 

 creditors will receive one hundred cents on the 

 dollar. The reason for the failure is given as 

 the linancial stringency and overextension, 

 rather than Insolvency. The statement as pre- 

 sented to the creditors is as follows: 



,\SSKTS. 



Stock on hand $100,964.07 



Stock and 1m«ui1 accuunt 7,420.00 

 Heal estate and timber 



lands In \'ir;;inia. 



North <.'arollna and 



eastern Tennessee ... 118,SS0.74 

 .Machinery and buildings L'14,362.34 

 itills and accounts re- 



.eivahle 316,2.-!1.G1 



• npital stock owned In 



ihe American Cigar 



Box Lumber Company 503,100.00 



< ash In banks 7G3.4G 



¥1,351,722.82 



I.I.VBII.ITIES. 



Capital . $454.40(101 1 



Bills and accounts pay- 

 able, including notes 

 and acceptances, and 



ledger accounts 5Ui,0O4.73 



Loans 82,982.90 



L'npaid dividends, taxes, 

 water supply and com- 

 missions 10,079.37 



Surplus over all liabil- 

 ities 279,255.82 



$1,351,722.82 



While the opinion Is advanced that there is 

 a possibility that the capital stock of the Amer- 

 ican Cigar Box Lumber Company, as included 

 in the alwve assets is rather high, that com- 

 pany nevertheless owns .'J5,000 acres of valuable 

 timber land, excellent plant, etc., and has been 

 paying good dividends to date, while as an offset 

 to any overestimate the valuable leasehold in- 

 terests of W. E. Uptegrove & Bro. in the Green- 

 point district of Brooklyn, which has a long 

 term of years to run, has not been included in 

 the assets, but has good value. Then the Amer- 

 ican Cigar Bo.x Lumber Company, after a care- 

 ful appraisement. Is stated to have real value 

 In excess of $.^00,000. Some of the bills pay- 

 able, notes and acceptahces, etc.. mentioned in 

 the liabilities, and loans are pertinent to the 

 Standard Oak Company, the Interior Hardwood 

 Company, and Allen Panel Company of Bristol, 

 Tenn., In which W. E. I'ptcgrove & Bro. own 

 Rubstantial interests, but which companies are 

 In nowise affected by the firm's embarrassment, 

 hut on the other hand are doing excellently and 

 are valuable subsidiary Interests. It is the aim 

 of the present management to liquidate the In- 

 debtedness as speedily as possible until it takes 

 the business out of the hands of the receivers. 



Liverpool Association Makes Rules. 

 It Is the general belief that some of the per- 

 plexing questions continually being raised be- 

 tween American hardwood exporters and import- 

 ers In the English market has at last been set- 

 tled, at least temporarily. At a meeting of 

 timber brokers and merchants held Nov. 2, upon 

 call of the Liverpool Timber Trades Association, 

 new rules for the measurement of American hard- 

 wood lumber in that port were discussed, with 

 the result that the following regulations were 

 adopted : 



(1) The measurement shall be ascertained by 

 the American board measure rule except as 

 otherwise herein stated. 



<2) First or prime quality, medium quality 

 and cull quality are identical respectively with 

 the .\merirnn grades of ones and twos. No. 1 

 common and No. 2 common, as expressed in the 

 current rules of inspection of the National Ilard- 

 wood Ltiraber Association, which came into op- 

 eration on the 1st of December, 1905. 



(3) Thicknesses shall be taken to eighths inch 

 in sizes of 'y, inch and under in unplaned lum- 

 ber, an<l in sizes of ^^^ inch and under In planed 

 lumber, to quarter inch in sizes of 1 to IVi 

 Inches, and lo half inch in sizes from !'/• inches 

 and upwards. Thickness to be taken a foot 

 from the Ihinnest place. 



(4) Tapering lumber shall be measured for 

 width at two feet from the narrowest end in 

 lumber 10 feet and up long and one foot from 

 the narrowest end In lumbei" less than 10 feet 

 long. 



(5) In the case of consignment parcels all 

 split or damaged lumber to be measured and 

 go with the rest of the parcel, no allowance 

 to be made for splits or defects. 



In the case of contract parcels, no allowance 

 to be made tor splits or defects, but all lumber 

 split or damaged (In excess of what is permitted 

 in the several grades by the inspediou rules of 

 the National Hardwood Lumber .Association, 

 which came Into operation the 1st of December, 

 1905) is to be laid aside and sold separately on 

 its merits at extreme measure. 



(0) The lengths of lumber measured by the 

 American board rule shall be taken to the full 

 foot. All lumber to be contented to half super- 

 ficial feet, all fractions of less than a half foot 

 to be dropped. 



In these rules the adoption of the American 

 board rule is a matter of gratification to exjiort- 

 ers ou this side. The grades adopted by the 

 National Hardwood Lumber Association year be- 

 fore last were practically made the Liverpool 

 standard, so that considering the conservatism 

 of English merchants and their fondness for the 

 practices of their ancestors the action is a mat- 

 ter of congratulation. 



If a trial of these new regulations does not 

 result satisfactorily doubtless another meeting 

 of the association will be held lor further dis- 

 cussion and to adopt necessary modilications. 



Miscellaneous Notes. 



The new plant of the .\meiiian Veneering 

 Company, north of l"t. Smith. Ark., is now In 

 operation. Thousands of large logs have been 

 hauled to the yards and no delay from shortage 

 of material will be experienced. Expert labor 

 from the North is employed and every arrange- 

 ment made to turn out a fine product. 



Eucalyptus trees are receiving a great deal 

 of attention at the present time, especially In 

 California. One can scarcely pass a ranch 

 without seeing them growing and they are fast 

 extending to suburban and even town lots, and 

 as shade trees on nearly all the streets. The 

 wide variety of uses to which the wood is now 

 being put should make their raising a prolltable 

 industry. 



The American Tie & Timber Company has just 

 been organized and incorporated at Shrcveport, 

 La., with a capital stock of $25,000. D. U. 

 Petty of Boleyii. La., is president; U. G. Petty. 

 Jr., vice president, and J. J. Marshall, secrctary- 

 Ireasurcr. The main olllce of the company will 

 be in the Continental Bank & Trust Company 

 Building, Shrcveport. The timber holdings of 

 the company are extensive and a large force of 

 men will be employed in handling the various 

 lines of the business. The advent of a new cor- 

 poration designed to own and operate sawmills, 

 tram roads, steamboats, etc., cannot fall to be 

 of importance lo the community. 



Frederick P. .Mans, superintendent of the 

 Indiana Holllng Mills at Newcastle, hos In- 

 vented and obtained a patent on an article 



which he believes will levolulioi;.. manu- 



facture of "D" handles used In shovels and 

 other such tools. It is a luindle made of sheet 

 Iron and requires only one-third of the timber 

 now used in making a shovel. A company will 

 be organized to manufacture the new article. 



A tract of 12,000 acres of fine timber land 

 In the Lake Superior country has been sold by 

 .1. .M. Peroles and others of Milwaukee, Wis., to 

 the Huron Bay Lumber Company of Grand Rap- 

 ids, Mich., the consideration being $220,000. 

 The land is covered with valuable hardwoods 

 and is located near Huron Bay, Mich. It Is 

 reported that the Grand Rapids firm will cut 

 the timber and erect a saw mill for turning It 

 into hardwood lumber. 



G. E. Green and A. M. McGlamery of Mocks- 

 vllle, N. C, are planniug the establishment of a 

 veneer mill and will organize a company with 

 $1 0,000 capital stock to carry on the work. 



The Colonial Venetian Blind & Door Com- 

 pany has been organized with $50,000 capital 

 stock to manufacture Venetian blinds, doors, 

 sash, screens, etc., at Laurlnhurg, N. C. Walter 

 H. Nea!, Thomas J. Gill, A. A. McEachern and 

 others are the incorporators. 



The Hamburg Manufacturing Company has 

 been Incorporated with $50,000 capital stock to 

 succeed the copartnership heretofore operating 

 under the same name at Hamburg, Ark. The 

 company manufactures hickory handles, wagon 

 slock and tight barrel staves. Vi. C. Dunlap is 

 president, E. E. Dunlap, vice president, and E. 

 Throgmorton, secretary-treasurer. 



The increase in capital recently made by the 

 Itock City Spoke Company of Nashville, Tenn., 

 from $21,000 to $50,000 will enable the company 

 lo greatly extend Its operations. The plant wlH 

 be enlarged and uew etiulpment added. 



The D. Roscntreter Woodenware Company has 

 been organized at St. Louis, Mo., with $10,000 

 capital stock by .Tohn 11. Dunn, Edward I. 

 Kastburn and David Rosentreter. 



Meyer Scoll, Jacob ScoU and others are In- 

 terested in the recently organized Scoll Milling 

 Company of Baltlniore, Md. The company has 

 a capital stock of $25,000 and will manufacture 

 furniture and iiardwood specialties. 



A plant for the manufacture of wagons, drays 

 and lumber carts will be established at Merid- 

 ian, Miss., by A. D. McRaven of ElllSTille. He 

 will invest $10,000. 



D. C. Stimson of Owensboro, Ky., is adding a 

 veneer mill to his plant. 



The Claudy School Desk Company, recently 

 incorporated at Zanesville, O., Is planning the 

 erection of a Tine new plant. 



Crane. Lakln & Co. of Terra Alta, W. Va., 

 have purchased and will develop the 8,000acre 

 tract of timber land in Bedford county known 

 as the "Big Survey." They will build a tram- 

 way and large plant to work up the timber on 

 the property. The hardwoods will be converted 

 into lumber and the softwoods into excelsior. 



The Wlnnfield Hardwood Manufacturing Com- 

 pany has been organized with $50,000 capital 

 stock to manufacture hardwood lumber, vehicles 

 and vehicle material and other articles. It will 

 be located at WlnnQeld, Winn Parish, La., where 

 a large sawmill and linlshlng plant is to be 

 erected. C. E. Freld, H. McGlnty, J. D. Pace, 

 P. C. Moseley and J. R. Hall constitute the 

 Board of Directors. 



The large pall stave factory and band saw- 

 mill which the Mengel Box Company has been 

 building at Hickman, Ky., is completed and is 

 now in operation. The concern has turned its 

 attention to the veneer mill, which will be en- 

 larged to increase its capacity lifty percent. 



The big plant of the Alabama Veneer Mills. 

 Sheffield, Ala., has resumed operations after a 

 suspension of two months. 



E. G. Boyd of Roanoke, Va., has sold to the 

 Grand River Lumber Company of Pittsburg, 

 ::ti.000 acres of land In Russell county, Vir- 

 ginia. The tract will be developed in the near 

 future. It Is reported that the purchase price 

 was $350,000. 



