HARDWOOD RECORD 



34C. 



Mr. Kusse— On page 30 don't ymi neglect 

 to state in firsts and seconds grade should be 

 omitted .' 



Mr. Fathauer -Yes, sir, we did. 



Supplement Report on Cypress. 

 Mr. fathauer made tin- following supple 

 mentary report: 



Referring to page 49. under caption "Selects."' 

 iv, • recommend the following change: "Selects 

 shall be 7 inches and over i" width-" Balance 

 , 1' rule i" remain as mm- printed. 



Same page, under caption "Shop, Shop to 

 be 1; inches and over in width, s feel and over 

 in length and to include all lumber thai will 

 not go into above grade, but that will cut 6" 

 per cent clear in not over three pieces. N" 

 piece of cutting to bn considered that is less 

 1 ban G inches wide and :'. feet long." 

 [These rales to go into effect at once. 

 The report of the committee, including the 

 report "b cypress, was adopted. 



Mr. White — I was in the committee room 

 yesterday and I came pretty near being 

 thrown out, but the committee listened to me. 

 We took tins matter up piece by piece and 

 it lasted all day. While 1 asked for more 

 than I got, I am well satisfied. (Applause.) 

 The resolution offered by Mr. Kern was 

 then reported upon by the committee and 

 after some discussion Mr. McMillan moved 

 that the resolution be laid on the table. The 

 motion was seconded and duly carried, 

 whereupon the resolution was laid on the 

 table. 



President Palmer — We have been request- 

 ed by some of our friends in Buffalo to per- 

 mit 'discussion on insurance matters, and if 

 it is agreeable we will hear from some of 

 our insurance friends. 



Stock Company Insurance. 



E, C. Mc-Kelvey, secretary of the Lumber 

 Insurance Company of New York, in his 

 address said: 



After this cordial invitation, with all due 

 respect for the hospitality of your insurance 

 committee and youi association I am com- 

 pelled to admit that I myseli felt rathei du- 

 bious about attending this convention, and 

 I think that you will agree with me that 



had g 1 reason for feeling doubtful about 



the desirability of attending another lum- 

 ber convention in the citj of Buffalo, when I 



.1 you that at the last convention which it 

 was mv privilege to attend, one of the tea- 

 tares of the banquet was the sudden an- 

 nouncement that North Tonawanda .stand 

 was burning up. Now. you know tnat tneie 

 is ,ut much on Tonawanda island except 

 umber and some of us who are vitally inter- 

 ested in the matter of lumber fires and some 

 nf the lumber newspaper men. rushed forth 

 fnto the night clad only in the garments com- 

 Sonlv worn a a banquet, and although it was 

 '"hi Februars night, with two feet of snow 

 L the ground, we went down to Tonawanda, 

 ill™ found the sky till aglow, and $300.- 



000 worth V,f'g white pine lumber hurnng 



flames Heavenward In a way which was cei 



tin Iv mst disconcerting to an innocent lum- 

 b-r insurance man who had not expected 



.,v such sensational form of entertainment. 

 Now I feel sure that you cannot blame m 

 fo? being a little fearful that there may be a 

 repetition of that disastrous incident, and 

 'will not feel absolutelj safe on that point 



"alt 1 tT set° down to the subject of stock 



, J, . one another. Nothing could be 

 , rther from the truth, as these eompani, 

 are working in harmony, and are all work- 



w 1 " common en save monej to the 



nmi . trade Vnd the lumber trade has most 



support he movement and has 



sought wSth P equal , fidence both Masses ot 



in in m tne y infancy oi these organizations there 

 n v. hlv" been some less intimately ac- 



' J , , m, the men behind the companies 



surance world, that there may stil be some 



to the full measure of confidence accorded 

 the insurance company which counts us as- 

 sets in seven figures. 



When I tell vou that the thr< companies 

 operated on the stock plan have assets of 

 two-thirds of a million dollars, and that this 

 sum has grown since a time four years ago, 

 when the parent organization, the Lumber 

 Underwriters, made a beginning with but 

 $ln 1,011 of assets, this fact alone may serve 

 to convince some skeptic that the stock com- 

 panj lumber insurance movement is a fairly 

 lusty infant. The two-thirds of a million 

 dollars includes what has been put into the 

 business by way of capital stock, to give sub- 

 stantial strength to the two younger orgam- 

 ,,,, ms-the Toledo Fire & Marine Insur- 

 ance Company of Sandusky. Ohio and the 

 Lumber Insurance Company of New York. 

 From day to day. with the growth of the 

 business, these assets are being augmented 

 and the man who. in placing his insurance 

 oelieves that he is best protecting his in- 

 ,,,,„,. b3 consulting only the figures dis- 

 niaved by a company, may soon feel that our 

 mpanies are entitled to his support Those 

 conservative insurers who look deeper ■ into 

 the affairs of a company and realize that it 

 is not always the largest company in dollars 

 a„d cents which affords the best indemnity 

 ive from the start, pal.onized "]'■%>"$'£ 

 insurance organizations. Our stockholders. 

 directors and officers being men whom jou 

 have known for years in a business way and 

 in association activities, you are ma. posi- 

 tion to judge with some degree of certan 

 as- ta the standard of business integrity which 

 mVv be expected to be found in these insur- 

 ance organizations. 



It is a favorite pastime among out re- 

 spected competitors, the large general fire in- 

 surance companies, to cast discredit on ou 

 financial strength, this Propaganda for our 

 siiTinression being carried on througn men 

 vast body of local fire insurance agents whose 

 business greatlv depends upon preventing anv 

 nvroads by trade fire insurance companies. 

 Thete 1 local agents in all parts ; of the q coun- 

 try are making a desperate effort to Kee 

 t,liv„ a prejudice against trade and mutual 

 fire insurance .companies. ™s _ .prejudice^ 



fire insurance .cuuipam". v" „,;,i c, . 



™STd£3^S tn^note^esg 



,, rell soundness of indemnity, however they 

 may compare with the general companies , 



"The 7 fumSfr^trade is. I believe you will 



H?kK limited but by taking advantage ,„ 

 he insurance offered by all of the companies. 



The nccessarv effort on your part to Ob- 



I.,,;;: V-^.itliiinKmsun,,,,. eanpanbs mora 



,", jBO ' of their insurance, on which 



e pav annually U. , • m P™™'?, m f- 



These comnanies having serve,! you f 11th fulU 

 and well it rests with you to say how ran 



, you .1 Sh the influence of our compe 



»^ttSetS£« 

 SP frf'ordei that we may enjoj the greatest 



s 



ii uslj in force as the basis ot your in- 



suranc, cancelling the policies on which 



I rifl rati . Th< high rated policy 

 nays the biggest return premium. 



1 am certainlj grateful for this opportunits 

 to thank s ou for support winch has 1 



, ei ganizations by many prominent 



hardwood lumbermen, and assure you that 

 with equal loyalty in the future we may look 

 forward to the possession of companies in 

 the lumber tra if a size and strength com- 

 mensurate with 1 be greatness ,,1 the industry 



1 1 3 their pleasure to serve. 



Anoth'ar Insurance Paper. 

 President Palmer next introduced E. S. 

 \eil. Eeeretarj of the Lumbermen's Mutual 

 Insurance Company of Mansfield, Ohio. After 

 the greeting of applause bad subsided, Mr. 

 Neil said : 



I was not alarmed at all when the gen- 

 tlemen stated that they did not want to 

 rive more than a few minutes to the insur- 

 ance men. I was raised on a farm : I have 

 seen the trees cut down and the land denuded 

 ,,t the very product in which you today are 

 ,1 .line- I feel at home in your midst. 1 

 ',', i'; 1 ',:, -ear off I. farm of 185 acres, the last 

 giant oak that stood upon that farm. I bat. 

 a curiosity to know when that tree was 

 planted and I found it was planted in 

 I 192. 



A Member— By Columbus? 

 Mr. Neil — Yes, perhaps by Columbus— in 

 central Ohio. It is an unusual tiling to find 

 ., ,,ve fifty incites across in that section. 1 

 have seen 'trees which had readied their ma- 

 turity from which three 16-foot logs were cut. 

 1 will ask your attention just a few moments. 

 Of all the subjects that come before your 

 association that of fire insurance is not the 

 east to be considered. The origin ,,t file 

 insurance is of very early date. It seems to 

 av" ,e>i„w„l closely upon mariae nisntan,,, 

 which had its first recognition in the last 

 part of the 12th or the beginning of the 13th 

 . , ,,i '■ It is supposed by some that ln- 

 Ui ,' nee' was invented by the Jews after their 

 ex p N io, from France by Philip Augustus 

 A E 1102 We find this system in gene,., 



an evidence of legal obligation. 



However brief this reference to the his- 

 tor?o fire Srance it is evident that ttt » 

 ,f \,iv ancient origin, and that we iook 10 



^considering specifically the origin of the 



cations o ship owners, prem i U ms for 



"' thel ! 'I ' ,, i.bs' w r merely nominal 



S ' Si 



and .- contribution , to the losses. 



tn the i tilted .States th nnn tributor- 



1" the i niieu =..■ ..-- contributor- 



",'-"■""" ":';, I'm' o 'uses front l„ss_bv 



-. ;r-:-,e„. 



he 3 system P h2s b,.e„ . 



