28 



HARDWOOD RECORD 



f. A. Luster, president of the Clyde Iiou 

 Works or Duluth, Minn — the house of McGllTert 

 log loader fame — made one of his periodical 

 visits to Chicago last week. Mr. Luster was 

 en route to New Orleans. 



Victor Thrane of the big limber bouse of J. L). 

 Lacey & Co. Is Just home from several months' 

 active work on the TacUlc coast, looking bronzed 

 and healthy. Mr. Thrane says the firm has 

 taken its cruisers out of the woods on the coast 

 for the winter. 



Sam ISurkholder. that Solon among Indiana 

 lumbermen, was a pleasant caller at the Riocoiii) 

 oflicc December 3. 



The American Sanitary Floor Company has 

 been incorporated In Chicago, with oflice at 1S!I 

 La Salle street, to manufacture sanitary and 

 Insulating building material. It Is capitalized 

 at $12,000, and the incorporators are Arthm- 

 A. Clement. D. .1. Calkins and \V. A. Collins. 



One man was killed and four injured when a 

 touring car belonging to Sumner K. I'rescoti of 

 Chicago struck a stump and was hurled into 

 the air near Escanaba, Mich., the night of No- 

 vember 30. Frank Hent of Marinette, Wis., 

 was instantly killed in the accident. Mr. Fres- 

 cott Is the son of D. Clint Prescott, a wealthy 

 manufacturer of sawmill and mining machinery, 

 who has for several years been treasurer of 

 his father's iron plant at Menominee. Mich. The 

 other injured members of the party were Joseph 

 Du.xbury, William Holquist and Isaac Stephen- 

 son, .Tr. All were doing well at last reports. 



Frank F. Fish, secretary of the National Hard- 

 wood Lumber Association, who has recently 

 come through a three weeks' attack of typhoid 

 fever, left December 5 for a two weeks' visit to 

 French Lick for recuperation. 



Irvln McCauley of the McCauley-Saunders 

 Lumber Company is absent upon an extended 

 trip among the cypress mills of the South. 



The Leavitt Lumber Company will rebuild its 

 mill at Hollywood, Miss., recently destroyed by 

 tire. It had a capacity of about 40,000 feet a 

 day. 



George S. Fry of Du Bois, Ind., was a caller 

 at the Record oilice December 2. Mr. Fry is a 

 manufacturer of hickory and ash dimension 

 stock. 



G. G. Roberts of the D. G. Courtney hardwood 

 concern, Charleston, W. Va., was a visitor among 

 the Chicago trade November 10. 



J. N. Woilett of the American Lumber and 

 Manufacturing Company, Pittsburg, called at 

 the Record office November 29. 



H. L Cutsinger of Martin Cutsinger & Sons 

 Company, Roachdale, Ind. ; W. J. WagstafiE of 

 Oshkosh, Wis., and Orson E. Yeager of Buffalo 

 were a trio of welcome visitors to this office 

 December 4. 



The sad aanouucement comes of the death of 

 W. A. Drake of Dayton, O., who died at his 

 home November 27 at the age of fifty-one. So 

 Billy Drake is dead ! It hurts us all to think 

 it's so — good honest chap that he was. Mr. 

 Drake was connected with the lumber trade for 

 many years. For a long time he was in the 

 retail business at Dayton, but for the last dozen 

 years he has been engaged in business on his 

 own account and in selling lumber to the Ohio 

 trade on commission. 



On December 3 Miss Florence M. Farrin, 

 daughter of M. B. Farrin, the well-known Cin- 

 cinnati lumberman, was married at her father's 

 home to Paul lUcbardson of Glendale. Mr. 

 Richardson is manager of the Cincinnati branch 

 of the Ford-Johnson Company, manufacturers 

 of chairs, and is well known to the furniture 

 trade. At the present time Mr. and Mrs. Rich- 

 ardson are on an eastern wedding trip, and 

 when they return will be at home at Avondale. 

 Congratulations ! 



W. W. Dings, secretary of the Garetson- 

 Greason Lumber Company of St. Louis, was in 

 Chicago a few days ago on a business trip. 

 He failed to call on the Rixord^ and the Record 

 is sore about it. 



W. H. Robertson, secretary of the lOast Jor- 

 dan Flooring Company of East Jordan, ^lich., 

 was in Chicago a few days ago on a business- 

 trip. He reports that his company Is running 

 its plant full force. 



The coming meeting of the Wisconsin hard- 

 wockI manufacturers, which will be held at Eau 

 Claire on January ITi, bids fair to bean interest- 

 ing one. A large attendance is promised. 



Lewis Doster, secretary of the Hardwood 

 Manufacturers' Association, has been in a more 

 or less precarious condition ever since the 

 Memphls-NashvlUe baseball games, in which he 

 was a star performer. For the last few weeks 

 he has been at his home in l^hiiadelphia con- 

 lined to the house, but Is slightly lx;tter at the 

 present time and has been ordered to Florida 

 by his physician to recuperate. 



J. W. Dickson, the well known hardwood lum- 

 berman of Memphis, was a caller among the 

 local trade the past few days. 



C. R. Mengel, the well known mahogany mag- 

 nate of Louisville, Ky.. spent several days in 

 Chicago last week. 



J. D. Lacey, the big timber operator of the 

 Old Colony building, was obliged to undergo an 

 operation for appendicitis recently. lie is now 

 recovering nicely, and was able to leave the 

 hospital about a week ago. 



Boston. 



Nellis, Amos & Swift of Utica, N. Y., opened 

 a Boston office in July with the intention of 

 conducting their hardwood business from this 

 point. On December 1 the office was discon- 

 tinued. No explanation is given, although it is 

 reported that the lirm was satisfled with the 

 amount of business obtained during the past few 

 months. 



George F. Cobb has returned from a trip to 

 Bermuda in much better health. Mr. Cobb is 

 manager of the Pope & Cottle Company, of 

 Chelsea, Mass. 



At the annual meeting of the Massachusetts 

 Wholesale Lumber Association. H. W. Blauchard 

 of the Blauchard Lumber Company, Boston, was 

 elected president. The other officers are H. B. 

 Fiske, vice president ; William E. Litchtield. sec- 

 retary and treasurer : A. M. Moore, assistant 

 secretary and treasurer. The chief interest of 

 the meeting centered around the question as to 

 whether the association should adopt the rules 

 of the National Hardwood Lumber Association. 

 The question was finally referred to a committee 

 composed of H. D. Wiggin, William E. Litch- 

 field and Galen A. Parker. 



William E. Litchfield, one of the best in- 

 formed men regarding hardwood lumber in the 

 East, spoke recently before the Massachusetts 

 Wholesale Lumber Association on conditions in 

 the hardwood trade. He divided his subject 

 into the finding of lumber, obtaining transpor- 

 tation and securing funds to carry on the busi- 

 ness. The most interesting feature of his re- 

 marks concerned transportation in general, and 

 especially the open position of many southern 

 and western railroads that they would not ob- 

 tain nor set for loading any cars for delivery 

 on the New York, New Haven & Hartford rail- 

 road except cars of that road when they could 

 be had. He stated that through personal con- 

 versation with officials of this railroad they had 

 authorized him to bring the matter before the 

 Massachusetts Wholesale Lumber Association 

 and state to its members that if any of them 

 received any definite discrimination at any point 

 to notify them and they would guarantee that 

 if a car of any kind could be obtained for the 

 point indicated such a car would be there with- 

 in forty-eight hours. Mr. Litchiield only touched 

 on flnancial conditions. He said the present 

 condition of the money markets was well known 

 and its affect obvious. 



James A. Wood & Co., Boston, lumber dealers, 

 liave made an assignment. Edwin D. Hale of 

 Hale & Dickerman, Boston, is the assignee. The 

 firm's difficulties were caused by being heavy 



endorsers i>( the paper of M. E. Sprague, a 

 lumber manufacturer of Drew, Me., who has 

 also made an assignment. Liabilities of the 

 latter concern are ?350,000. 



The J. H. Lockey Piano Case Company of 

 Leominster, Mass., has recently filed Its annual 

 statement with the commissioner of corpora- 

 tions. 



A fire recently caused a damage of about 

 $3,000 at the woodworking plant of the J. F. 

 Paul Company, Boston. 



The plant of the Chandler Planer Company, 

 Ayer, Mass., has been shut down. 



New York. 



Schedules of the S. E. Kellar Lumber Com- 

 pany, retailers, Manhattan, wh».se failure was 

 noted in the last issue, show as follows: 



.\SSETS. 



Stock on hand per speclal'lnventory. .$ 83,233.32 



Accounts receivable 2.5,998.98 



Horses 5,600.00 



Trucks and harness 2,550.00 



$117,382.30 



Ll.\EII.lTIES. 



Bills payable $170,227.34 



Accounts payable (open lumber ac- 

 counts) 14,332.58 



Accounts payable i miscellaneous) .. . 11,337.73 



$201,897.65 



Contingent liability (commercial pa- 

 per under discount) 87,563.06 



At a meeting of the creditors held last week 

 no proposition of settlement was made, but a 

 committee of sis creditors was appointed to go 

 over the affairs of the company and ascertain 

 exact conditions. There was a large number of 

 New York retailers with claims running from a 

 few hundred up to $11,000 and $12,000, the big- 

 gest creditor being the S. L. Eastman Flooring 

 Company of Saginaw, for about $65,000. 



Subsequent to the above meeting an offer was 

 made through the personal attorney of the com- 

 pany for a settlement of 10 cents cash, 10 cents 

 in six months and 10 cents in one year, making 

 a total of 30 cents on the dollar. Following 

 this offer the committee appointed by the cred- 

 itors met Dec. 2 to receive the reports from the 

 expert accountant and the committee's repre- 

 sentative, who had investigated the affairs of 

 the company. 



The accountant's report showed stock valued 

 at $09,213.42. 

 Accounts and bills receivable, also 



some horses and trucks $ 39,857.35 



The above does not include value of lease- 

 holds. 



The liabilities were reported as follows : 



Accounts payable $ 25,389.90 



Bills payable 174,717.35 



The contingent liabilities from dis- 

 counts with bank total 84,646.98 



The receiver attended the meeting and among 

 other things reported that he found that the net 

 earnings from Jan. 1 of this year up to the 

 embarrassment of the company on Nov. 11 had 

 only been $7,518.35, while the gross expenses 

 run up to $84,648.02. These figures were nat- 

 urally not received favorably by the committee, 

 and it is current gossip that the discrepancies 

 need explanation, with the result that the cred- 

 itors' committee unanimously voted that the 

 offer of 30 cents be refused. Second, that the 

 creditors propose to settle at 50 cents, 25 cents 

 cash in thirty days and 25 cents in four months, 

 by secured notes. Third, that if this offer is 

 not accepted by the bankrupt, bankruptcy pro- 

 ceedings shall be taken. Fourth, that a state- 

 ment be made at the next creditors' meeting as 

 to the facts and capital on which the corpora- 

 tion was organized. 



There was another meeting of the creditors on 

 Dec. 4, at which time the creditors' committee 

 reported adversely on the offer of settlement, as 

 previously noted, and the creditors voted that 



