The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-07-06
A MILLION AND A QUARTER.
BIG CAPITAL OF THE LUMBER COM
BINE TO BE ORGANIZED HERE.

A Charter Applied For I'm the superb
or Court-AII of the Concerns who
VIII Join in Not Enumerated in
the PetItIon-They VIII Hold n
Meeting Here Monday when Plans
VIII BE Devised For the Permanent
Organization of the Southern Pine
Co., of Georgia.
petition was filed In the superior court
yesterday asking for the incorporation "
the Southern Pine Company Of Georgia.
The names which appear in the petition
as incorporators are: Henry P. Talmadge.
Charles S. Fairchild and James Sullman Of
New York. William Hogencamp OF New
Jersey. John Flannery, S. p. Hamilton
and b. A. Denmark Of Savannah and
their associates. who viii perhaps be
known later.
This big concern proposes TO start with
an actually paid I'm capital of $1.25O.OOO. the
stock TO be divided into shares Of 500 each,
and they ask the right TO increase the cap
itaI from time to time In the discretion OF
the board Of directors to a sum not to
exceed 100000, but they do not want at
any time to reduce it below the first men,
TONED figures
The principal Office Of the company IS
20 be in Savannah. but under the char
ter 1t will also be empowered to do bust
ness particularly in Appling. Ware. Clincn,
Pierce, Coffee. Wayne and other coun-
ties. and. in fact, anywhere it sees fit
TO do so. The company asks to be ineor-
porated for the usual period Of twenty
years.
This is the beginning of what will likely
be the biggest lumber, and naval stores
organization in the southern states. I'm
der the terms of the charter the com
pany asks for. it will be allowed to man.
ufacture. buy and sell all kinds of south
orn pine lumber particularly but they
can handle any other kind they please
They can lease and own lands, operate
saw mills, do a general merchandise bust
ness. a naval stores business. build and
operate tramroads and railroads, buy, own
and charter vessels, and in fact the char
ter sought covers everything in a big busi-
ness of this kind.
1t is not known just exactly what con-
Germs will go into this combine as yet, but
II Is pretty well settled. Those parties who
have been In conference here on several
occasions, extending over a period of six
or eight months or more, are Messrs Still
WELL Millen & Co., ]. ]. McDonough & Co.,
the Clarke Lumber Company of Darien,
Henry p. Talmadge & Co. and c. c. South
ard of New York. and the application for
this charter is the result of their
efforts looking TO the formation of such a
company. The main trouble they expe-
rienced was in getting all the creditors of
the different concerns to agree to such a
pooling of the assets and the formation
of a company on so large a scale 1t is
understood that Mr.. William Hogencamp,
who appears as one of the prospective in
corporators, held out longer than the other
creditors, but finally agreed to the plan,
which left no further obstacle in its
way.
The foregoing concerns will have rep
resentatives here on Monday when a
meeting will be held, and some conclusion
reached with regard to what lines the
company will be organized on under the
charter which 1t expects to secure.
Such an organization will bring together
five of the largest concerns that do bust
ness in this section of the country, and
there is no doubt that it would have a
great deal to say In the lumber and naval
stores markets, though it is expected that
lumber will be the principle product with
which IL will deal.