The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-12-11
LUMBERMEN TO COMBINE
TIE SOUTHERN PINE COMPANY
TO BE ORGANIZED TODAY.

Fhree-Fourths OF the Annual Cut of
Lumber in the South Atlantic States
Represented in the Consolidation
The Darien Consolidation to be O
Part of the New Company-A Gen.
eral Combine of the Lumber Inter
ests in the South.
The Southern Pine Company, which was
temporarily organized in New York about
month ago, will be permanently Or
ganized here to-day. The company has
been operating through the Southern Pine
Exchange until a charter could be obtained.
The company will organize under its
charter to-day. Joseph II. Hilton is presi-
dent of the exchange, and also of the COM
pany under its temporary organization.
Charles c. Southland of New York is sscre-
tary.
The charter for the company was granted
by the superior court last week. The pc
titioners we're; J; ]. McDonough, w. B:
Stillwell and L. r. Millen of Savannah, and
Joseph Hilton, Norman w. Dodge, Isaac
Eppinger and Charles c. Southland of New
York.
THE coMPANYs CHARTER
The object of the company as stated in
the petition for a charter is the carrying on
the business of dealers in southern pine
lumber; to manufacture, buy and sell lum-
Der Of all kinds: to buy, lease, own and
operate steam saw mills at all such places
as they may see fit; to buy, lease, own and
sell lands, timber and timber lands; to
buy and own stock, tools, implements and
all other property necessary to operate
steam saw mills; to bdy, own and lease rail-
road iron and engines, and build and own
tramroads, and generally to-do all such mat
ters and things as are indident or common
to the business Of manufacturing lumber,
operating saw mills and dealing in lumber,
lands, timber and timber lands, and to buy,
lease and own all such property, real and
personal, as may be necessary in the con-
duct and course of the business aforesaid,
and the same to sell, convey, let and mort
gage aud dispose of in any manner and at
any time the said association may deem
proper"
A SAVANNAH MOVEMENT.
The movement to organize the company
was started here some time ago. 1t was
stated by one of its organizers last night
that 1t will represent three-fourths of the
entire cut of lumber and timber on the
South Atlantic coast. The paid in capital
stock of the company is stated to be $50, 900,
with the privilege of increasing it to g., 0O0,-
900.
Mr.. Southland, who has been in the city
for the past week, said that meeting is to
be held to-day, but he could not anticipate
its action, nor did he know just who will be
here. He said that the proposed organiza-
ton will not at present include the lumber
manufacturers Of the gulf coast The
charter granted in the superior court last
week, he said, he has not read yet, although
he is one of the petitioners. Something,
haS 10 70 tba mil
owners, the business for the past ten years
having been conducted on the most diver
gent plans, and the necessity for
organization and community of interest
is recognized Whether there will be an
agreement after the mill men get together,
he did not say.
FOR THE LUMBERMRN'S BENEFIT.
Mr.. Soutaard says that the organization
is not to be a lumber syndicate or trust to
operate like the jute bag trust, but one to
put all on a common footing for the mutual
benefit of all who mill the southern pine, SO
that one won't be able to take advantage of
another.
This consolidation, following close upon
the consolidation of the interests of the
Hilton Timber and Lumber Company, the
St. Simon's Lumber Company and the
Dodge Cypress Mill Company at Darien
into the Hilton and Dodge Lumber Com
pany, looks like a movement toward gen.
eral combine of the lumber interests of the
South. The Darien consolidated companies
have a paid up capital of $1,000,00
Capt. Hilton is also president of that
company, Norman W. Dodge is first vice
president, James L. Foster is second vice
president and Robert P. Paul is secretary
and treasurer. This consolidation alone, it
is claimed, represents one-fifth Of the cut of
the coast states.