.llllK- 10. ItH.'i. 



J. I.. sciiKVi:. sr. i.mis. iniuocTui; 



imii:kiiii.i.. i'nii,Ai>i;i,i'iii.\. 

 iiii;i:cTiii;. 



Keet. Earnings. K.xiK'nse. 



Mi>'bii;uii Mill Points 26,092,703 $1,334.01 



t:iil<aKo, III 10.052.10.''. 6.381.84 ?u,S23.09 



.M.Miiplils, Teun 8,617,606 4,891.02 4,169.32 



< Iraiul Kiiplds, Mich 8,337.r.34 416.87 



N.n I )rlians and Mississippi 8,222, .icJl ■l,-li:;.20 3.670.03 



.St. I /mis. Mo 7,841,1124 ■1,2."")8.32 4.190.85 



.Miniiwipolis and Wisconsin 6,275,327 3,427.11 3,015.80 



I'alro and .Mton, 111 Ii,123,766 3,494.55 3,377.34 



I loiroit. Midi 4,493,535 2,643.36 2.431.25 



riilladelphia. Pa 3,934,15" 2,252.44 2,104.25 



New York City. N. Y 3,456,839 2,172.77 1,949.11 



linclnnati, Ohio 3,285,012 2,270.11 2,869.04 



l..)nisvillo. Ky 2,822,477 1,621.43 1,725.95 



llnston. Mass 2,667,418 1,508.80 1.931.67 



r.uiralo. N. Y 2,516,239 1,429.05 1,698.60 



iliattanooca. Tcnn 2,494,065 1,257.48 1.681.13 



Toronto. Ontario 1,927,870 1,007.07 1,744.45 



I'ittshurKh, Pa 1,890,070 1,532.07 1,950.78 



lIuntinKton. W. Va 1,841,041 1,144.31 1,431.60 



Nashville. Tcnn 1,522,002 846.89 1,267.81 



Bristol, Tenn 1,270,508 609.97 954.19 



Mol.ile, Ala 1,296,506 799.22 1,072.45 



llaltimore, Md 990.982 622.74 871.74 



Arkau.sas 081,719 353.35 244.00 



I ndiana 347,944 306.65 702.88 



119,000,756 $51,055.23 $50,877.99 



Re-inspections : 

 Chief inspector 1,143.187 1,488.40 0,509.45 



It is. perhaps, of interest to know that of the 119,000,750 feet shown 

 l>y these figures to have been inspected under the National Hardwood 

 I.nmhcr As.soci.ition bonded certificates, official re-Inspections were re- 

 quested and made on 1,143,187 feet, and of that amount the original 

 inspection was found to be in error on 260,294 feet. 



Every certificate issued is in triplicate, so tliat a copy of every inspec- 

 tion is received and filed at the executive office and as the final audit 

 fails to show a single certificate missing, it is believed the system of 

 recording each transaction can be accepted as accurate and thorough. 

 Under this system any concern, whether a member or not, having any 

 question or uncertainty regarding an official certificate, and possessing 

 the right to inquire, can secure information on direct application to the 

 secretary's office. 



Financial Matters 



The financial condition of the association throughout the past year 

 has been sound, but in order to maintain this condition it Is necessary that 

 members promptly respond to bills from the secretary's office, either 

 for dues or for inspection service rendered. Under the regulations which 

 govern the inspection bureau, all bills for service are payable upon 

 demand, as this item is really labor, and the handling of the work will 

 be greatly facilitated if our members give these statements prompt atten- 

 tion. All obligations of every nature have been met by the association 

 promptly and on June 1 there was no indebtedness of any nature what- 

 ever standing .against us. 



The following Is a detailed statement of all receipts and disburse- 

 ments, togetlier with figures from the association books and records, the 

 correctness of which is certified to in the attached report of Marwick, 

 Mitchell, Peat & Co., public accountants and auditors : 

 Balance reported at convention June 18, 1914. ... $ 8,737.87 



Receipts 



From Membership Dues $40 282 35 



From Inspection Fees .' .' 50 359 90 



From Inspection Rules 27647 



From Program Advertising '. 3 402 50 



From Miscellaneous '104^77 94.425.99 



$103,163.86 

 —26— 



DiSBL'BSEMENTS 



Salaries iMid expenses — Sec'y-Treas., Asst. Scc'y, 



Chief Inspcitor, Inspectors and office help $74,789.47 



Postage and printing 5,072.33 



Convention. K.vecutive Committee, standing com- 

 mittees and miscellaneous expense 3,990.41 



General olllce expenses — telephone, telegraph, light, 



exchange, office supplies, etc 1,328.44 



Re-inspection settlements and claims 1,824.93 



Rent 2,880.00 



Office furniture 101.60 



Program expense 952.24 90,9.39.42 



Leaving a balance on deposit at the Fort Dearborn 



National IJank, June 7, 1915, of $ 9,614.20 



In the llihcrnian Bank 1,000.00 



.\nd cash on hand 1,610.24 



Total in General Fund $12,224.44 



In a<l(lition the books show outstanding accounts for inspec- 

 tion fees earned, $5,408.24 : for membership dues payable, 

 .'5s,425.00 ; program advertising accounts, $2,080.00 ; and 

 advances to employees, $8.50.00 ; a total of 16,763.24 



Hrin;;in^' resources in cash and good outstanding accounts to $28,987.68 



Cash Deposit Fund 



Balance on hand reported at convention, June 18, 1914. . . . 650.00 



BcsiNEss Mbbtinos Held 



During the year four meetings of the executive committee and board 

 of managers have been held, as follows : Board of managers, June 17, 

 1914 ; executive committee, September 17, 1914 ; hoard of managers, 

 January 19, 1915 ; board of managers, June 9, 1915. 



In addition to these meetings, the executive committee has met with 

 the inspection rules committee on February 17 and March 23. All of 

 these meetings brought out a full attendance and all suggestions from 

 members received careful consideration. Controversies between members, 

 where appeal is made to the board of managers, appear to have almost 

 disappeared. In former years the board of managers or executive com- 

 mittee has been urged to rule on matters in dispute and the absence of 

 such matters demanding the attention of the board indicates a better 

 knowledge on the part of this membership of the rules under wblcb the 

 inspection department operates. 



In all cases where official national inspection is the basis agreed upon 

 between buyer and seller, members shipping arc urged not to delay for- 

 warding copy of the national Inspection certificate to the buyer, for where 

 the shipper delays or overlooks mailing this official report, his customer 

 may be put to the unnecessary expense of placing another national 

 inspector on the shipment at destination. 



The Reporting Department 

 The attention of this membership is again Invited to the results being 

 obtained in our reporting department, and the co-operation is urged of 

 every member who has not been keeping in touch with this important 

 branch of our work. During the past year the demand for service on this 

 department from members now familiar with the service has materially 

 increased, which is doubtless due in part to the rather general uncer- 

 tainty surrounding credit conditions and in many instances to the diffi- 

 culty experienced in making collections. While the reporting department 

 Is not prepared promptly to furnish reports asked In every instance, a 

 large number of late and thorough reports have been added to the files 

 and the value of the reporting service has been substantially increased. 

 It is now a recognized fact among students of credit information, that 

 the interchange of ledger experience furnishes a more reliable basis for 

 extending credits than any other method, and this association, if granted 



