HARDWOOD RECORD 



21 



prises of any gOrt. Mr. Bell made a report 

 on the properties alleged to be owned by 

 the International Lumber & Development 

 Company in the district of Champoton, state 

 of Campeche, . Mex., and it is alleged that 

 Mr. Bell states his report to this company 

 ■was falsified when it was issued in printed 

 form. It is further alleged that Mr. Bell 

 has stated that his estimate of the mahogany 

 growing on the timbered sections of the 

 property in question was about 400 feet to the 

 acre. 



The Hardwood Record has comparatively 

 little knowledge of John E. Markley and 

 Isaiah B. Miller, save that they have been 

 engaged in promotion enterprises covering 

 mines, timber properties and agricultural 

 propositions for a number of years. They 

 have an office in the Tribune building, Chi- 

 cago, the legend on their door modestly an- 

 nouncing that they are "contractors." 



If the allegations put forth by Walter H. 

 Bell in his bill of complaint to the Circuit 

 Court in Cliancery sitting are worthy of be- 

 lief (which they probably are) they demon- 

 strate: 



First: That through himself and others a 

 certain San Pablo Company was organized 

 in 1900; that this company acquired 288,000 

 acres of land in the district of Champoton, 

 state of Campeche, Mex., and paid for it 

 about $180,000 United States money; that 

 this company was carried on until Mid- 

 summer, 1904, when it was alleged to be un- 

 profitable. 



Second: That in Midsummer, 1904, John 

 E. Markley, president of the company, stated 

 that the business had not met the expecta- 

 tions of the management, called a meeting 

 and submitted a proposition to the stock- 

 holders looking to the sale of the property. 



Third: That at this stockholders' meeting 

 the sale ox the property was authorized at an 

 agreed price of $450,000 with the understand- 

 ing that the title to the property was not to 

 pass until the purchase price had been paid. 



Fourth: That in 1904 John E. Markley 

 and others organized the International Lum- 

 ber & Development Company, with an alleged 

 capital stock of $6,000,000 divided into 

 20,000 share.s, with a par value of $300 each. 



Fifth: That about the date of this or- 

 g;inization the International Company entered 

 into an agreement with John K. Markley and 

 Isaiah B. Miller to become the contractors 

 for the clearing, planting and bringing to 

 maturity 20,000 acres of the aforementioned 

 land, they to receive as compensation the net 

 proceeds arising out of the sale of the entire 

 shares of the capital stock of the Inter- 

 national Company, less the sum of .$4.50,000 

 principal and interest, covering the agree<l 

 purchase price ; that the total expenses to be 

 incurred by the International Company in 

 selling the stock should not exceed $100 for 

 each share, i. e. a net sum of $200 per share 

 to be paid over to Markley and Miller. 



Sixth : That the complainant believes that 

 Markley and Miller have an agreement by 

 which tlipv are to receive an additional con- 



sideration out of the profits arising from 

 the sale of the stock. 



Seventh: That the orator believes that 

 $60.00 net for each share of stock sold i.s 

 about the sum that has been received by the 

 International Company, and that up to date 

 of filing the bill about 12,000 shares had 

 been sold; that the International Company 

 has paid nothing on the purchase price of tho 

 San Pablo property save three half-yearly 

 installments of interest, amounting to a total 

 of $33,725. 



If the above allegations are true, the In- 

 ternational Lumber & Development Company 

 owns the 288,000 acres comprising the San 

 Pablo property just about as much as it does 

 the state of Ohio; that the much vaunted 

 deed of the property which the company al- 

 leges is deposited in the hands of a trust 

 company for the benefit of its shareholders, is 

 <ieposited there for the security of the San 

 Pablo company; that the International Com- 

 pany 's exclusive business is the sale of its 

 stock, and that any possible profits arising 

 from the deal are being pretty thorougMy 

 absorbed by Markley and Miller. It is al- 

 leged and probably true, that the sundry 

 cargoes of mahogany timber that are being 

 taken from the land are immediately be- 

 coming the property of Markley and Miller; 

 that the much talked of ship Vueltabajo which 

 carries logs from the property to Mobile is 

 either owned or handled in the interest of 

 Markley and Miller; that the much talked 

 of mahogany sawmill at Mobile does not 

 belong to the International Lumber & De- 

 velopment Company, but to the Ma.'kley and 

 Miller interests; that Markley and Miller arc 

 receiving a fancy profit on such lands as 

 they prepare for cultivation on the prop- 

 erty. 



It is beyond question that there are quite 

 u number of straightforward but very 

 foolish business men of decent reputation 

 mixed up in this International enterprise, 

 and through their connection it is equally 

 true that a good many people have been in- 



duced to buy the stock. One of the allur- 

 ing bits of literature that the company is 

 flooding the country with is reproduced on 

 another page. On the second postal of this re- 

 turn card is printed : "8 per cent guar- 

 anteed — 22 per cent estimated. This is not a 

 chance to lose, but a certainty to win. Men 

 of national reputation are at the head of 

 it. Over 7,000 persons now drawing large 

 and increasing profits from similar enter- 

 prises under same management. Some have 

 received as high as 57 per cent in dividends. 

 Fill in your name and address below. Place 

 a postage stamp on the other side of this 

 card and mail it, and you will receive in- 

 formation that will be valuable to you. ' ' 



Following is another letter sent to the 

 company 's stock-selling agents, under date 

 of June 23: 



"Yesterday, June 22d, the ninth steamship load 

 of this company's mahogany reached Mobile, 

 Ala., and will soon be sawed into lumber and 

 veneers. The eighth steamship load of our ma- 

 hogany arrived May 25th, making less than one 

 month's time between these last two shipments. 



"At the close of business tonight we have 4,321 

 individual stockholders upon our books. Shares 

 are being taken up very rapidly. Yesterday we 

 sold 102 shares. 



"We would again very urgently recommend 

 that you push the sale of the shares of our stock 

 very energetically, working early and late. There 

 is only a comparatively small number of sharea 

 yet remaining unsold that can be obtained at 

 par value and in a short time all the shares of 

 our stock will be taken. We hope you will be 

 able to place a large number of these remaining 

 shares. 



"We cannot too earnestly recommend that you 

 push the sale of our shares. Will supply you 

 with all printed matter and literature which 

 you can use to advantage. 



"Yours very truly. 

 "International Lumbek & Devei.ophent Co. 

 "C. M. McMahon, Treasurer. 



It is scarcely necessary to comment further 

 on the International Lumber & Development 

 Company enterprise. To the mind of any 

 competent business man it is simply mar- 

 velous that 4,321 suckers can be picked up 

 in the United States at one swoop. 



Hardwood Record JMail Bag. 



[In this department it is proposed to reply 

 to such inquiries as reach this office from the 

 Hardwood Record clientage as will be of enough 

 general interest to warr^int publication. Every 

 patron of the paper 's invited to use this de- 

 partment to the fullest extent, and an attempt 

 will be made to answer queries pertaining to all 

 matters of interest to tne hardwood trade, in 

 a succinct and intelligent manner.] 



In Market for Tupelo or Poplar Electric 

 Casing. 



New Orleans, La., July 27. — Editor Hard- 

 wood Record : We do a considerable export 

 business and should esteem it a favor if you 

 could place us in communication with parties 

 on this side that manufacture electrical easing 

 and capping from poplar or tupelo. We have 

 a large order offered us at present : also about 

 forty cars of tupelo strips for mouldings. 



Lu.MBER Company. 



If any of our readers would like to be put 

 in communication with a possible buyer of a 

 large order for tupelo or popular electric cas- 

 ing and capjiing for export, the Eecord will 

 lie glad to supply the address of tlie inquin-r. 

 Kditor. 



Wants Exchange Table. 



New Orleans, La., July 30. — Editor Hard- 

 wood Record : Please advise me where we can 

 lind a book of tables converting pounds, shillings 

 and pence per cubi<* feet into dollars per thou- 

 sand feet : also converting francs per cubic me- 

 ter into dollars per thousand feet. 



LUMBBB COMPANY. 



If any readers of the Record know of a 

 book of such tables, or employ such a set in 

 their own work, we would be glad to have a 

 copy of it, and also would like a table of 

 values converting marks in the same way. — 

 Editor. 



Wants Gum Dimension Stock. 



rniLADEi.rniA. I'a., July 27. — Editor Hard- 

 wood Record : We want to lind out where we 

 can get 1-inch gum boards S2S and resawed, 4 

 to 9 inches wide, and Hi-inch common, S2S, 6 

 inches and wider, stock suitable for making 

 mouse traps. 



LUMBBB Company. 



Anyone interested in the above inquiry will 



he put in communication with the writer on 



ariplication to this office. — Editor. 



