HARDWOOD RECORD 



35 



fart Is found In cessation of the Issuance of 

 cashiers' checks. The soml-annual statements 

 publlshei] by all the state banking; iustitutions 

 In Memphis show these to be In excellent cou- 

 dltliiu. They have more cash than they ever 

 had at this period and their loans have been 

 reduced to a minimum. Local banks are await- 

 ing the action of the New York banks In the 

 matter of going on a flat cash basis, feeling that 

 there Is no reason for further precautlonar.v 

 measures such as they wefe forced to adopt 

 when the crisis was at Its height. 



The notation of the paper of the Tuthlll & 

 rattison .MunuIaclurinK Company, to which ref 

 erenc? has alreadj* been made, lias m.ide the 

 banks somewliat timid altout bantlling lumlier 

 paj>er. The leading lumber interests of this 

 city resent the attitude of the banks In this 

 matter, believing that there is no more connec- 

 tion between the efforts made by this firm to 

 float wild cat paper and the use of regular lum- 

 ber paper In the conduct of a straightforward 

 lumber business than there is between any other 

 illegitimate practice and the leigtimate conduct 

 of other business. It will be noted that 

 this paper was floated by an outside concern and 

 that there lias never been an instance where a 

 local lumber company attempted to do anything 

 that would injure the credit of the lumber fra- 

 ternity. 



Announcement is made by Receiver Ballard 

 that the plant of the West-King Lumber Com- 

 pany at Waynesboro. Miss., will begin opera- 

 tions in a few days. He states that he has 

 received sullicient orders to Justify oper- 

 ation for some time. The company was unable 

 to realize on some of its holdings, and this was 

 responsible for the appointment of the receiver. 

 Assets were given at .^Tuo.iioO and liabilities at 

 ?41U.OOO. The company has 17,000 acres of 

 timber land, and steps are now being taken to 

 extend its railroad to connect with one of the 

 larger lines, thus giving better facilities than 

 heretofore. 



The report of Commissioner L F. Peters of 

 the Memphis Industrial League shows that in- 

 dustries with an aggregate capital stock of 

 *i,500,000 and giving employment to about 4.000 

 persims were organized in .Memphis during 1007, 

 many of them l)eing the direct result of efforts 

 put forth by Commissioner Peters. Prominent 

 among the new concerns were a number of lum- 

 ber companies, including the following : The 

 Memphis Car Manulactuiing Company, builders 

 and repairers of railroads; Ciibson-Whittaker 

 Company, veneer ; Talge Veneer Company ; Frost 

 Veneer & Seating Company ; Kobettson-Fooshe 

 Lumber Company ; Cathey Lumber Company ; 

 Clements-Stevens Lumlier Compani' ; The Iient 

 Lumber Company ; Nortit Mississippi Lumber 

 Compan.v : Katon Lumber Company ; Nickey- 

 Dlcksou Lumber Company : W. ,1. I'ate Lumber 

 Company : Ford Hardwood Lumber Company ; 

 Norton Luml>er Company ; Union Lumber Com- 

 pany ; Larkiu Company of America ; The Uome 

 Lumber Company ; Ncal-Doiph Lumber Com- 

 pany. 



E. E. Taenzer & Co. have lost their suit 

 against the Hock Island Kallroud (.'ompanj* for 

 $I."»0,000. The suit was instituted about two 

 years ago and lias been to trial more than once. 

 Tlie company claimed to have lost tills amount 

 through alleged failure of the defendant to sup- 

 ply cars for the moving of its lumber from its 

 mill at South liend. Ark. It is said tliat al>out 

 .'!. 000,000 feet was ruined because of the failure 

 of the defendant to carry out Its contract. The 

 Jury returned a verdict In favor of the railroad 

 company and attorneys for the complainant Im- 

 mediately made a motion for u new trial. 



It has been decided tliat the election of of- 

 cials for the Lumbermen's Club will be held at 

 the liuslness .Men's Club I he evening of ,Ian. 11, 

 followed by a I>utch supper. (Jeorge C. Ehe- 

 mann of liennett & Wltte, candidate for the 

 presidency of the Lumliermen's Club, may know 

 a great deal about the lumber business but he 



la not much of n hand at throwing Indian dice, 

 John \V. McClure, candidate for re-election as 

 secretary-lreasurer of the club on both tickets, 

 has been In a quaiMlary as to which man to sup- 

 port for the presidency. Mr. i:ii<mann, .Mr. .Mor- 

 gan, his rival candidate for the presidency, and 

 Mr. McClure all met the other day and both of 

 the seekers after the presidency pressed Mr. Mc- 

 Clure for an answer as to which one would re- 

 ceive his support. His reply was that he would 

 let the prowess of the gentlemen at throwing 

 Indian dice settle the matter, voting for the 

 winner. Ehemann did not even get a "horse " 

 and Morgan is now certain that he will receive 

 the support of the genial secretary at the polls 

 on the evening of the 11th. 



There were a number of changes in lumber 

 circles here at the beginning of the new year. 

 ,T. B. Grant, who has represented the Buffalo 

 Hardwood Lumber Company In this center for 

 some time, has severed his connection therewith. 

 He has not announced his plans for the future. 

 I'hil (Jillicrt of the Xeal-Dolpb Lumber Com- 

 pany has gone to Chicago, where he spent the 

 liolidays and will not return to Memphis. He 

 left the lirm because of poor health and will go 

 from Chicago to Colorado. Philip Uyan of 

 Kyau & .McParland, Chicago and Memphis, has 

 purchased the interest of Mr. Mcl'arland in that 

 Hrm and will continue business under the old 

 name for the present. J. IJ. Allen has sold his 

 Interest in the Brasfield-Thompson Lumber Com- 

 pany to the principals in that concern and has 

 withdrawn from connection therewith. 



S. C. Major of the S. C. Major Lumber Com- 

 pany has returned from St. Louis, where he went 

 on a recent business trip. 



Frank B. Itobertson, president of the Robert- 

 son-Fooshe Lumber Company, has returned from 

 a three weeks' trip to Mexico. 



Max Sondheimer. jiresident of the E. Sond- 

 heimer Comjjany, has been in Chicago for some 

 time. 



-\mong the lumber firms in this city inter- 

 ested in the aijplication for the appointment of a 

 receiver for the Wiborg & Uanna Company, Cin- 

 cinnati, is the Briggs & Cooper Company, Lim- 

 ited. This concern is one of the creditors of 

 the Wiborg & Ilauna Company here, and it is 

 understood that several otiier firms have been 

 caught. Just how, far they are involved will not 

 be known, however, until tlieir claims have been 

 filed. The southern offices of the Wiborg & 

 Ilanna Company, which were In the Tennessee 

 Trust building, have been discontinued. W. C. 

 I'almer, southern manager for the company, it 

 was announced Just before the holidays, would 

 sever his connection with the firm on Jan. 1. 



Judge Stevens of Helena, Ark., has been ap- 

 pointed receiver under the United States Court 

 at Little Rock for the Bluff City Lumber Com- 

 pany. The judge of this court made every effort 

 to have J. B. York and J. F. Rutherford, co- 

 receivers and principal owners of the stock of 

 the coni|)any, adjust their troubles without re- 

 sorting to further litigation but, when It was 

 found that they were unable to do so. Judge 

 Stevens was named to take charge of the af- 

 fairs of tile company. The litigation has been 

 in progress in the state courts for several 

 montlis and has now been transferred to the 

 federal courts. Three persons, as an Indirect 

 result of the troubles of the company, have 

 been killed and several former employees are 

 held charged with murder. 



No specific date has been set for the re- 

 newal of the hearing of the case of the Tuthlll 

 & Pattlson .Manufacturing Company of ShelUeld, 

 Ala., In the federal court In this city. A. A. 

 Parsons and J. A. Tuthlll, "bankers and 

 biokcrs," have been on the stand twice already, 

 but very little was accomplisl' -d, as dlre<-t and 

 straightforward answers on matters of vital In- 

 terest to the creditors could not be obtained 

 from these gentlemen. Additional Interest will 

 surround their testimony when the hearing 

 Is resumed because of the fact that the olDclals 



of the Memphis Savings Bank have admitted 

 that this InHlitulion was forced to suspend busi- 

 ness because of the alleged bogus paper It 

 handled at the instigation of Messrs. Tuthlll 

 and Par.sons. The referee in bankruptcy here, 

 before the depositions have been taken and be- 

 fore the trial will be continued, has allowed at- 

 torneys for the trustees a wide range of ques- 

 tioning and It Is expected that the next hearing, 

 which will be had some time this month, will 

 bring to light something more definite than pre- 

 vious ones. 



A result of the recent quietness In the hard- 

 wood trade that is almost certain Is the re- 

 duction in the wages of the mill hands. One of 

 the most prominent lumbermen in tliis section, 

 operating a large plant outside of this city, de- 

 clares that this Is a logical step and that It Is 

 bound to come, lie admits that wages at his 

 plant will be reduced within the next few days 

 .and others are discussing the advisability of pur- 

 suing the same course. There Is more unem- 

 ployed labor in this district now than for sev- 

 eral years, which in itself will be conducive to 

 lower wages, thus furnishing additional justifi- 

 cation for such a move. 



New Orleans. 



Though the outlook at present Is a little bet- 

 ter than it has been in some time the year 

 which just dosed found the liardwood situation 

 here in anytliing but the Iwst of sliape and even 

 now the general conditions arc decidedly unsat- 

 isfactory from the exporter's point of view. 

 There appears to be little export demand for 

 luml>er and consequently there is little demand 

 here. I'rices are irregular and the lumber 

 handled at present through Xew Orleans for ex- 

 port amounts to little or nothing. It is true 

 that vessels leaving here for Rotterdam. Havre 

 and other European ports during the last two 

 or three weeks have carried as parts of their 

 cargoes good consignments of oak staves, oak 

 lumber and other hardwood timber, but on the 

 whole the exports have fallen off considerably 

 and there is said to be no indication that they 

 will very soon work back into the strong posi- 

 tion they occupy when the market is In healthy 

 shape. Local exporters who were discussing the 

 situation today with a Rlcord representative 

 said that the foreign export market appeared to 

 have gone to sleep and that the latest reports 

 li-oiu Euroiio were that the market there was In 

 anything but satisfactory shape. Euroi)ean buy- 

 ers with headquarters here are decidedly inactive 

 and there is said to be no Indication that the 

 export demand here will improve in a short 

 time. However, better conditions are lioped for 

 and It is believed the next few weeks will bring 

 about a change for the better. 



Much Interest is being manifested in the com- 

 ing session of the Nalloiial Lumber Exporters' 

 Association which is billed to hold a session here 

 during the latter part of this month. The local 

 exporters and hardwood men, with the aid of the 

 New Orleans Lumber Exporters' Association, 

 will in all probability make arrangements to en- 

 tertain the visitors and to provide them with 

 i|uarters for their sessions. At the same time 

 that the National Association meets here the 

 tjuif Coast Lumber Exporters' .\ssoclatiou will 

 also convene In this city, adding interest to tlie 

 sessions of both organizations. The last named 

 body was to have held a meeting here Jan. li. 

 but this was postponed until Jan. 'SJ. Several 

 matters of importance are to be considered by 

 the Culf Coast exporters and a large attendance 

 Is exjiectcd. 



Advices from Sunflower county, Mississippi, 

 slate that E. N. Case & Sons of Dothan, W. Va.. 

 have purchased (i,:tU-4 acres of white and red 

 oak, hickory and white ash timberland and 

 will very soon erect a big mill to develop the 

 tract. The price paid was $16 per acre. The 

 company proposes to build at once seven miles 

 of steel railroad. 



A somewhat celebrated decision that affects 



