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Hardwood Manufacturers^ Annual 



The twelfth animal iiiivting of tlie Hardwood Manufactnreis' As 

 sociatiuu of the United States, held at the Hotel Gayoso, Memphis, 

 Tenn., Wednesday and Thursday, .January 21 and 22, indicated that 

 that association is in an unusually prosperous condition and that the 

 membership and interest displayed in its aeeomplishnients and its 

 efforts are constantly gaining ground. 



The meeting was attended by about 600 representatives of the 

 lumber trade from various parts of the country and in addition 

 there was a goodly percentage of consunieis who attended in a body 

 in the interest of their business. 

 The business sessions of the 

 I'eiing were started about 

 .Icven o'clock on Tuesday 

 morning, the opening session 

 being very well attended, 

 l)ractically every seat being 

 taken in the large hall pro- 

 vided. This can also be said 

 of the two other sessions 

 which followed. 



C. M. Bryan, representing 

 the city of llemphis, opened 

 the session with a very elo- 

 quent address of welcome, in 

 which speech he demonstrated 

 to the entire satisfaction of 

 all those present that the city 

 was mighty glad to have the 

 opportunity of extending its 

 hospitality to the visiting lum- 

 bermen. Mr. Bryan in his 

 talk told of the provisions 

 which had been made for the 

 lomfort and entertainment of 

 the visitors and elaborated 

 somewhat upon the noted 

 hospitality upon which those 

 in attendance were invited to 

 '■all during their stay in the 

 rity. 



Mr. Bryan was followed by 

 .T. M. Touther, secretary of 

 the Memphis Business Men's 

 Club. Mr. Touther stated that 

 he spoke for the president of 

 that organization, who was at 

 the last minute compelled to 

 be absent from the city, lie 

 seconded Mr. Bryan's cordial 

 welcome, sjieaking more spe- 

 cifically for the business inter- 

 ests, and do.sed his address 

 with a suggestion that the 

 association use its efforts to 

 ■secure a regional reserve bank 

 for the city of Memphis under the recently enacted currency bill. 



The third address of welcome was delivered by J. D. Allen, presi- 

 dent of the Memphis Lumbermen 's Club. Mr. Allen gave every assur- 

 ance that members of the Memphis trade, being lumbermen them- 

 selves, are fully aware of the requirements of a gathering of lum- 

 bermen and had made every provision to amply take care of the>e 

 requirements. He assured the visiting liinibermen that if there were 

 anything at all that the local trade could do to still further cater 

 to their comfort and enjoyment while in the city they had only to 

 make those wishes known and they would be promptly take care of. 

 E. L. Hutchinson of the Hutchinson Lumber Company, Huntington. 

 W. Va., responded to the various addresses of welcome on behalf of 



JOHN H. 



the association. Mr. Hutchinson proved himself an orator of the 

 first water and his definition of the South and its importance, pur- 

 poses and meaning was very well received. He expressed deep appre- 

 ciation of the southern section of the country, of the city of Memphis 

 and, speaking more broadly, of the character, ability and integrity 

 of the average American citizen. His talk was, a fitting expression 

 of appreciation of the hearty welcome accorded the visitors by mem- 

 bers of the Memphis trade and of the citizens of that municipality. 

 President W. E. DeLaney then read his very able annual address, 

 which follows: 



Address of President 

 By referring to our program 

 you will notice that wc have 

 very few set speeches, and those 

 by request will be short ones. 

 It would seem that those at- 

 tending conventions would 

 rather exchange ideas in the 

 lobby than to sit in a hall to 

 bear addresses which they can 

 later read at their leisure in 

 the trade journals. While as 

 much benefit is to be derived by 

 mingling with one another at 

 conventions. I feel that more 

 good is to be gotten out of the 

 actual work at the meetings. It 

 w-as with this in view that we 

 intentionally prepared a short 

 program, hoping that questions 

 of interest to our business would 

 be discussed on the floor by 

 those present and in that way 

 give each the benefit of the 

 others' ideas. We may not suc- 

 ceed at this time in getting the 

 general discussion desired, but 

 I believe it is a step in the 

 right direction, and I trust that 

 in future conventions matters 

 will be more freely discussed on 

 tlie floor than heretofore. 



One moment with the past, 

 which does not interest us ex- 

 cept as a guide for the future. 

 General business conditions in 

 the past have not been satis- 

 factory. Bradstreet reports 

 that liiia was the third worst 

 year in numbers, and the fourth 

 worst year in liabilities, of 

 which there is record in thV> 

 past third of a century. Lum- 

 ber failures increased 5.3 per 

 cent in numbers, and 40 per 

 cent in the amount of liability 

 over that of 1912. We were 

 laced with labor troubles, polit- 

 ical agitation, and toward the 

 latter part of the .year financial 

 stringency. The lumber busi- 

 niss was good the first half of 

 the year, the third quarter fair, 

 and the last three months poor. 

 .\t present business is not satls- 



HIMMELBEKIJEK. CAPE f;iR.\KDE.\f. MO., NEWLY ELECTED 

 PRESIDENT OF THE ASSOCIATION 



factory. As is usual at this season of the year, business people are 

 taking inventories, closing their books and planning for the coming year's 

 business. 



Stocks are less than normal at producing points. In the consuming 

 markets stocks are low and any revival demand will be immediately felt 

 bv the manufacturer. 



The strife between capital and labor so bitter last year has settled at 

 least temporarily a good portion of these troubles, and I anticipate less 

 labor trouble this year than formerly. 



It Is generally agreed that the recent currency legislation will do much 

 pood, and this "with the tarifl' legislation out of the way should assist 

 materially in bringing about better business conditions. I believe that 

 the day has passed when fortunes can be made over night In speculating 

 In stocks, bonds or securities, but I am a Arm believer in the natural re- 

 and integrity of the American people, and I believe 



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