Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1888-08-16
A GREAT LUMBER Trust.
IL 10 said 10 Control seo.o0o,o00 and
TO be BACKED By German
Gauftntt&fa

TO be Bach eu b5 Strfuhh
Capitalists
A Chicago special 10 the New York
World OF the 18th says: A dispatch
from Minneapolis SAYS the details OF one
of the most gigantic trusts ever devised
have just come to the surface an tins city.
Ii isa combination OF all the principal
lumber interests Of Minnesota and those
Of Wisconsin.
Frederick Weyerhsnser, the rich lum-
herman, who has already secured con-
troll of all the pine lands tributary to the
Chippewa and Menominee rivers. IN
Wisconsin, is at the head o! the deal.
A short time ago be bought up the con-
trolling interest of MI the big lumber
firms and pine-lsnd owners in Northern
Wisconsin, and now has absolute control
of the lumber-business in that section.
II e is ut the head OF the Mississippi Log
ciug Company, the headquarters Of which
are at Eau Claire, Wis. The company If
now said to control abont $50, 900, 600, in
vested in lumber and pine lands, and 10
backed by heavy capitalists OF Berlin.
The company now owns about S,OOU,-
600, coo Of stumpago in Wisconsin, and
it is understood on good authority that
nearly as much moro Is now beng scared
on large amounted Minnesota stumpaee,
and agents Of the syndicate are securing
the country to GET all there is IN sight.
IL is known that I. b. Walker, tho
largest pine-hnd owner in Minnesota,
has given an option on oil the stumpage
he owns He was approached by the
syndicate few days ago and was asked
ii he would sell his lands. He dad not
want to sell, but named price about
double the market value Of his lands atthe
present time, supposing it would not be
accepted but, to his surprise, three days
later the syndicate took up bis Offer. lie
owns about /, 800, 600, 900 feet OF stump
age. The other big pine-land owners
who are said to have been approximation
options on their lands are the PillsbnTye,
who own 5000, 600 feet ; Camp& Walker,
the Itasca Lumber Company, Captain >.
j. Snyder. II. G. Ackley. and Gaylord X
Cook. All these parties, except 1. Is.
Walker, deny that they have given OPP
tions on their lands, but decline to talk
about the deal. If the Wisconsin syndI-
cate succeed in getting all the lands they
are after. it will require capital OF
nearly 800, 600, 600 to carry it.
The scheme is TO float logs from the
upper Mississippi down over the falls at
Minneapolis and erect big mills on the
lower river. During the high water here
last spring some OF the big booms were
broken and the logs went over the dam
ana floated into the lower river. The
owners we're much surprised to find that
they could sell these logs to better adj
vantage below the falls than above, as
they were nearer the southern lumber
trade. and the present deal started from
that discovery. II is understood that
some lines are encouraging the deal for
obvious reasons
The prevailing opinion among lumber
dealers in this city, when the above DIS
match was shown them Yesterday, was
that the New York market would be at-
fected very little at present 10y the new
trust, though it might be IN the future
| The reason assigned for this 10 that New
York Is not considered large lumber
market, the trade being chiefly export,
and most Of the lumber arriving here
being in transit for foreign coun-
tres. Chicago, however, Is the
great lumber market of the United
States, and prices will undoubtedly
be affected there 10y tho Minneapolis
combination. Tho Chicago trade con
stats almost wholly of white pine lumber,
which usually goes for home consUmp-
ton, though there is some export by way
Of Canada. This new trust being alto
gether of white pine timber, thc Chicago
market is about tho only one to 10 Affect
ed. The class OF pine handed by Now
York dealers is tho yellow pItch Pine OF
the southern States. Inrtiererce to this
| one Of the dealers said yesterday;
"The formation of thjs trust docs not
/ surnrise me III tho least, for there hove
/ been combinations in almost every other
| Kind of timber for some time. In yell
low pine ibGre has not heen exactly a
! combine. but a sOTt OF mutual agreement
among dealers to keep prices at certain
standard. The con oinatiOn inChiiorDia
redwood is probably th> strongest il tic
world. and doubt II the Minneapolis
trust can eQual it, The tendency Of the
white-pine trade las FOR q long time
been to get into stronger hands. o.
( course it VIII affect prices m the West,
for these men have bough,sup al of tho
available stumpase or standing timber
and will naturally eel it oil III retail lots
al big profit. The eastern markets
Will be protected 70 q large extent 10y the
big raft-boom which has just lcGuu.
! Why isn't New Work 50 good market
rs Chicago? Well, there ere several
reasons The main difficulty is
that We can't secure yards OF tina re-
CURED space without paying an enormous
price. Where one yard here vail hold
| 600. coo cubic feet, you viii find plenty
Of them in Chicago that will hold 90
900, 600 cubic feet Another thing that
not only handicaps us. but is also gra-
dually taking our export tlade away
from us, is that all of our timber has to
DE shipped first by rail to New Jersey
and then transferred by lighters, which
4 is q great inconvenience. delay, and ex-
pense. | have known the time when /
! had 10 wait three weeks before l could
get lighters to transfer a consignment Of
| lulaber across the river.