jL'.Ni: 25. 1018 



HARDWOOD RECORD 



0.058.77 



Chutlanoocn ami Jelllco, Tcnn 2.112,084 1,258.50 



Clarksburg, W. Va 1101.447 020.11 



Baltimore, M«l 703,520 70.00 



Mkhlsan Mills 40.,S21.078 2.341.09 



Uo-lD8|H'ctloos 885,417 1,358.54 



Of tbo 188,230.412 feet InilU-ati'd by tlu-m- tiKurrg to liavc been luspectcd 

 under the bonded certlflcatc of tbe National Hardwood Lumber Associa- 

 tion, olBelal reinspectlous were requesti'd and aiiplletl on 885,417 feet, and 

 of tbat amount the original lns|ieetloii was found tu differ more than 4% 

 In money value on 301,057 feet, resulilni; In claims paid by tbe assoelatlon 

 of $1,033.73. It will be noted tbat the expense of the Inspection bureau 

 e.\cce<ls the amount earned by $1,050.40. and It U my belief that this can 

 be attributed entirely to the car shortage. With embargoes on at many 

 points, there have been weeks when our salaried Inspectors have been 

 Idle. 



Tnc system of Inspection conducted by this association long since ceased 

 lo be an experiment and became Instead a -recognized Institution, an In- 

 stitution which constitutes the basis upon which a very large percentage 

 of all transactions In hardwood lumber is conducted. If national Inspec- 

 tion were to be eliminated, the trade would be as helpless as a ship drift- 

 ing upon an unknown sea without chart or compass. Deprive the trade 

 .,f the standards which the National Hardwood Lumber Association has 

 developed for the grading and measurement of hardwood lumber, and 

 which It Is applying through Its Inspection department, and the same 

 chaotic conditions would prevail In the hardwood trade that were present 

 prior to the organization of this as.soclatlon. I do not believe that this 

 statement can be controverted In any manner. Neither do I believe that 

 any of our members who are able to recall what the conditions were In 

 the trailc prior to the organization of this association, would care to re- 

 turn to the old order of things. 



That there Is sonic dissatisfaction with the manner In which tbe Inspec- 

 tion of this association Is being conducted, Is evidenced by the movement 

 now on foot to bring about a radical change In the operation of the In- 

 spection department ; and, no doubt, the matter will receive the most care- 

 ful and intelligent consideration of every member present at this meeting. 

 Its Importance, at least. Justifies that quality of consideration. I feel that 

 It Is my duty to point out to this membership, from the position which It 

 has been my privilege to occupy in this association for the past thirteen 

 years, tbat there are two kinds of legislation possible oC enactment at this 



ters win be the right action, because In the post this membership has 

 never failed In proper Judgment when that Judgment has been put to the 

 crucial test. 



Financial Mattkus 

 The nuances of the association during the year have been In sound con- 

 dition notwithstanding the loss sustained In the operation of the Inspec- 

 tion bureau and expense of the war service bureau, which was borne by 

 the association with no extra charge or assessment of any nature against 

 the membership. .\11 bills and Indebtedness of every nature have been met 

 promptly and on June 1 the National Hardwood Lumber Association did 

 not owe a cent. The following Is n detailed statement of receipts and 

 disbursements, together with figures from the association ledgers, the cor- 

 rectness of which Is certified to In the attached report of Marwlck, 

 .Mitchell, I'eat & Co., certified public accountants and auditors. 



Balance reported nt Convention, June 11, 1017 $32,215.44 



KBCEIPTS 



Prom Membership Dues and Initiations $ 49,010.30 



From Inspection Fees 87,456.08 



From Inspection Kules, Etc 400.10 



From ITograni Advertising 8,099.25 



From Hunk Interest 310.86 



From Other Interest 351.04 



146.300.23 



$178,515.07 

 DISIiURSEMENTS 

 Salaries and Expenses — Secretary-Treasurer, As- 

 sistant Secretary, Chief Inspector, Inspectors 



and Office Force $112,156.81 



Postage and Printing 8,721.08 



Convention, Program, E.tecutlve Committee, Board 



of .Managers and standing committees expense. . 8,600.57 

 Ccnenil OflJce Expenses — -Light, telephone, telc- 



Kiiipli. exchange, ofllce supplies, etc 2,175.66 



Miscellaneous Expense — Association dues, legal 



anil contributions, etc 2,375.52 



Rent 3,120.00 



Kelnspectlon Claims and Settlements ll.'iO.lS 



Ofllce Furniture 565.40 



War Service Bureau 2,814.52 



141.479.64 



AND ONE FUO.M GRAND RAPIDS 



meeting; one Is destructive and the other is constructive. The former 

 proposes only to tear down and weaken ; the latter to build up and 

 strengthen ; the former icnuns ihc good that may exist In the present 

 situation and woiil ! " i ■ " i .-ether with the bad; the latter would 

 keep nil the gor.d ilie bad which is to be replaced with 



something better. 1 province of this membership to deter- 



mine which class • i _ meeting will enact. Whatever is done 



should be done wltli.uit hurry, without prejudice, and without passion, 

 and with the sole purpose In view of improving conditions (If they can 

 be improved) under which the hardwood lumber trade Is conducted. 



I am confident that whatever action is taken on these important mat- 



Leavinc a balance on deposit at the Fort Dear- 

 born National Bank. June 15, 1918 $ 26,036.03 



In the rribernlan Banking Association 1.000.00 



In Liberty Loan Bonds 10,000.00 



Total In General Fund 



In addition the books show outstanding accounts 

 for Membership Dues and Initiations, $4,705 ; 

 for Inspection Fees, $6.170.52 ; for Program 

 Advertising, $1,S,S5 ; and advances to employees, 

 $2,358.34; a total of 



Bringing resources In Cash and good outstanding 

 accounts to 



