34 



HARDWOOD RECORD 



Mr. Lang reported as follows for this committee: 

 The committee appointed to revise the constitution, consisting of Mr. 

 Burke, Mr. Carrier and myself, found so many causes for changes that 

 we decided it should be rewritten entirely. The result of our work is 

 alread.v in your hands, and I move, Mr. President, that the constitution 

 as rewritten and submitted to the membership be adopted. 



R. H. Vansant seconded this resolution, which was carried. 



There had been discussed pretty generally among the association 

 problems and otherwise, a proposed test of a fireproofing paint, 

 which would take place in a temporary structure at the river front 

 in the afternoon. B. A. John.son and R. H. Downman gave the 

 details of this proposed test, both of them exjiressiug confidence in 

 the outcome and advising full attendance of the delegates in order 

 that the merits of the proposition might be thoroughly understood. 

 L L. Wolfl of Cincinnati is the patentee of this paint which is being 

 marketed by the Edwards Manufacturing Company of that city. 



Charles F. Simonson, manager of the National Lumber Manufac- 

 turers' Inter-Insurance Exchange, gave an address on that organiza- 

 tion. This address appears on page ;!8 of this issue. 



Business and the Banking Law 



Congressman Robert J. Buckley of the twenty-third ilittrict of Ohio, 

 addressed the meeting on the subject of the reserve banking law and 

 the country 's business, and a comparison of the working of the new 

 law and the old was presented in detail. 



Of the several forms of currency existing under the old law, 

 none was in the least elastic. That is to say, there was no provision 

 by which the volume of currency in the country could be increased or 

 diminished in rcsjionse to the needs of business. The volume of na- 

 tional bank circulation was dependent on whether the price of United 

 States bonds at any particular time might be such as to afford a 

 profit on circulation to the banks. And the volume of other forms of 

 currency in circulation at any time was dependent upon other factors 

 not at all related to the rise and fall of legitimate commercial 

 demands. 



As a consequence of the impossibility of readily securing additional 

 currency to meet a demand heavier than the average, it was necessary 

 to withdraw reserve money from the banks for circulation purposes 

 whenever a large amount of circulation wiis needed. Such a need 

 would exist each autumn about crop moving time, and bank reserves 

 wouhl have to be drawn down to supply circulation, so that the lending 

 jjower of the banks would be reduced at the very season when it was 

 most needed. The result would be the annual autumn stringency with 

 its high interest rates, bringing inconvenience to business. 



The new law is expected to provide a remedy for the faults of the 

 old. The volume of money in circulation may be increased or dimi- 

 nished as the calls of business demand. Adequate means are pro- 

 vided to accomplish that purpose. 



The law has been in operation less than three months. That has not 

 been sufficient time to put it to the test of practice, but thus far it 

 has met all the demands made upon it. 



If any criticism has been heard it has related to what jirophets fear 

 will hapjien rather than to what has already happened; but that fear 

 is' not strong. Some persons are not sure that designing men or in- 

 terests may not scheme to obtain control of the system ami manipulate 

 it for private benefit rather than for jmblic good. This might be ac- 

 comiilished by changes in the law by which greater ))ower may be 

 given the reserve board. Thougli that peril is at present remote, it 

 is the part of wisdom for the business men of the country to watch 

 the law and its workings with .iealousy and care and see to it that 

 the rights and interests of the public are never placed in peril. 



President Himmelberger called upon E. V. Babcock, president of 

 the National Hardwood Lumber Association, who said he was in 

 attendance purely as E. V. Babcock of Pittsburgh and not as E. V. 

 Babcock, president of the National Hardwood Lumber Association, 

 although in behalf of his organization he extended its greetings to the 

 Hardwood Manufacturers' Association. 



Referring to his presidency of the National Hardwood Lum- 

 ber Association, Mr. Babcock said he was glad to be with the 

 southern manufacturers and to take part in their deliberations and 

 then said he thinks the lumbermen have too many associations, and 

 in fact that they have the association habit. He said: "I am 



quite sure that we have too many hardwood associations, and I wel- 

 come the day when some man with enough ingenuity, brains and 

 nerve will spring something good enough to cause us all to sit up and 

 cause the radicals in our association to reform and become conserva- 

 tive and the conservatives to get together on one Eet of rules and in 

 one grand hardwood association. ' ' 



This opinion as expressed by Mr. Babcock was received with the 

 same enthusiastic applause as was President Himmelberger 's sug- 

 gestion along the same lines. , « 

 R. S. Kellogg addressed the . leeting on "Some Troubles of the 

 Ijumber Industry. ' ' This paper is analyzed on page 28 of this issue. 

 R. H. Vansant submitted resolutions of thanks to the various 

 people who had been responsible for entertaining the visitors, and 

 also submitted resolutions on the death of the late C. M. Crawford 

 of Coal Grove, O. 



The committee on officers' reports reported favoring their adop- 

 tion by the convention, R. H. Vansant saying that the committee 

 on resolutions was not present in the morning when the address on 

 inter-insurance was delivered. He moved that the association endorse 

 the National Lumber Man\Lfacturers ' Inter-Insurance Exchange, 

 which motion was unanimously adopted. 



M. B. Cooper reported for the committee on nominations, recom- 

 mending the re-election of the officers for the past year as follows: 



PnEsiDENT — .T. H. Himmelberger, Cape Girardeau, Mo. 



I'*1RST \'i(:F>l'KKSinK.\T — B. B. Burns. Iluntiiiirton, W. Va. 



Second Vick-President — Italph May, Memphis, Tenn. 



Treasvber — Ivcon Isaacsen, Coal Grove, O. 



BoAKD OF Directors: One year — Clinton Crane, Cincinnati, O. ; U. 11. 

 Vansant, Ashland, Ky. : W. B. Burke, Charleston, Miss.; E. A. Lans, Chl- 

 lago. III. : K. L. Hutchinson, Huntington, W. Va. 



Two years — W. H. Hawkins, .-Ashland, Ky. ; W. E. DeLaney, Lexington, 

 Ky. : E. O. Robinson, Cincinnati, O. : R. M. Carrier, Sardis, Miss. ; G. E. W. 

 r.uehrmann, St, Louis, Mo. 



Three years — \V. M. lUttor, Columbus, O. : E. M. Vestal, Knoxville, Tenn. ; 

 W. li. Townscnd, Towiisi nd, Tenn.; K. R. Gadd, Chicago, 111.; .1. F. Mcln- 

 tyrc, Pino Bluff, .\rk. 



The following were recommended for state directors and vice- 

 |)residents : 



.M,AB,iMA : Vlce-i/rcsidcnt, I.. .M. I'hecly; directors, II. II. Hilt, .1. T. 

 Forma n. 



-•Vrkaxsas ; Vice-president, Howard Cole: directors, George W. Allport, 

 R. E. Lee Wilson. 



Illinois: Vice-president, P. E. (Jilbort : directors, H. S. McGce, R. J. 

 McClellan, 



IvENTiiKV : Vice-president, G«orge H. Gcarhardt; directors, A. E. 

 SchnaulTer, L. li. Busklrk. 



I>oiisiANA : Vice-president, H. V. Sherrlll : directors, C. A. Weis, E. B. 

 Schwiriff. 



Massachi'sktts : Viee-presidont, Frank W. Lawrence ; directors, W. E. 

 rjtohfiold, George French. 



.Mississippi : Vice-president, Fred Conn ; directors, Ben Dulweber, C. P. 

 Wincman. 



Mi.ssoiiii : Vice-president, Max Pease ; directors, W. P. Anderson, Charles 

 Knott. 



-VoRTU Caudmna : Vice-president, W. J. Grandin ; director, G. N. Hutton. 



Ohio: Vke-presldent, W. G. Ward : directors, W. I. Barr, W. H. Nigh. 



Pennsylvania: Vice-president, P. A. Kirby. 



South Carolina: Vice-president, Andrew Gennett. 



Tennesske : Vice-president, .7. K. William : directors, D. M. Rose, S. M. 

 Nlckey. 



Texas : VUe-presidcnt, .\lbert Deutsch ; directors, L. D. Gilbert, Philip 

 Uyan. 



ViHGiMA : Vice-president, N. W. Easterly; directors, R. C. Duff, J. W. 

 White. 



West Viiu;inia : Vice-president. .M. W. Stark; directors, Peter Carrol, 

 W. N. OfTut. 



The officers named were duly elected on formal motion. 



The meeting adjourned. 



FIRE PROOFING TEST NOT CONCLUSIVE BUT 

 APPARENTLY SATISFACTORY 



On Friday afternoon practically all the lumbermen walked do^vn to 

 the river front to witness a test of a new fireproof paint patented by 

 L. L. Wolff and marketed by the Edwards Manufacturing Company 

 of Cincinnati. The paint was tested out on a roughly constructed 

 building about 10 x 15 feet on the ground and in the neighborhood of 

 9 feet to the eaves, with a pitched roof which had about a 4-foot rise. 

 The building was constructed of rough lumber and right there the 

 liatentees made a grave error inasmuch as the extremely severe test 



