The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-08-06
LUMBER INTERESTS COMBINE.
THE SOUTHERN PINE GO. FORMALLY
ORGANIzED-OFFIC ELECTED.

Mr.. Henry =. TaImadge Elected Pres
fdent. Mr. ". -. StiIIweII, secre-
fary. and sir. &. 4. SOuthard OF
New York. Trensurer-Thc Com
pany VIII Have Offices I'm Savan-
nah. New York and Darien-This
consolidation of Interests VIII
Put Them All on "a More EcOnOmi-
cal Basis and Reduce COMPETE
tIon.
The Southern Pine Company Of Geor-
gia was formally organized yes
terday at meeting held at the
Office Of Messrs. Denmark & Adams.
The company was recently granted
charter in the superior court. and will
begin business with consolidated prop
erty capitalized at 81 5000 This will be
the amount Of the paid in capital repre-
scented By the properties which have gone
into the organization.
The company announces in its circular
that it has acquired by purchase the man
ufactdring plants. lands, timber ana
properties Of DIessrs. Stluweu, Miuen &
Co and J. J. McDonough & co. Of Sa-
yannah. James X. Clarke Lumber Co. or
Darien, Henry p, Talmadge, trustee, II
New York city and l.. r. Millen & Co. Of
New York city.
The circular states that these parties
have sold their plants, appurtenances
and properties to the Southern Pine Com
pany OF Georgia with the active manage
ment of which they will be identified,
viii enable them to serve their patrons
more economically in the future than in
the past. A number of banking houses
were interested in the assets of these
concerns in one way and another by rea-
son of the fact that they had advanced
certain sums of money accepting mort
cages on the property as collateral, ana
it is for this reason that they have gone
into the consolidated company.
The directors elected were Messrs.
James X. Clarke, president of the James
X. Clarke Lumber Company Of Darien;
b. A. Denmark, president of the Citizens
Bank Of Savannah; John Flannery, pres
ident of the Southern Bank; s. =. Hamil-
ton. president of the Merchants National
Bank; J. J. McDonough of McDonough
& Co; William b. Stillwell of StiHwell,
Millen & Co. of Savannah; William Hog
encamp, president of the Second National
Bank of Jersey city n. j.; Loring r.
Millen of L. r. Millen & Co.; c. c. South
ard, lumberman; James Stillman, presi-
dent Second National Bank and Henry
L. Talmadge banker of New York city.
The election of the above named direc-
tors took place at the morning meeting,
and the election of the officers was had at
a meeting of the directors in the after
President, Henry p. Talmadge, and di-
rector of the finance department, New
York city
Treasurer, c. c. Southland. New York
city.
Secretary, w B. Stnlwen, Savannah,
Ga.
Director Sales Department, Loring r.
Millen, New York city
Director Darien Department James K.
Clarke Darien.
Director Mills and Land Department.
John J. McDonough, Savannah.
Director Purchasing and Shipping De-
partment, William b. Stilwell, Savannah.
There was no election for a vice president.
this being deemd unnecessary. The com
pany viii have offices in this city New
York city and Darien. The charter grant
ed here stated that the principal offices
would be in this city. The company will
occupy the offices in the Provident Build
ing. rooms Nos. and s. at present occu-
pied by MeSsrs. Denmark and Adams.
The New York offices will be in the cof-
fee exchange building, Nos. 66 to 20 Beaver
street.
President Talmadge said the organiza-
ton of the company by the consolidation
of these different concerns will enable them
TO reduce expenses and operate the plants
on a more economical basis all round.
1t is expected to cut off competition at
both ends and to put the lumber bust
ness of this section on a living basis This
company combines all the lumber plants
and appurtenances of any importance in
this section of Georgia and it will do the
great bulk of the business from this terri
tory.
The Southern Pine Company differs
from the Georgia Lumber Exchange,
which was organized here some time ago,
and which died a natural death The ex-
change was merely a voluntary organiza-
ton, and some of the dealers who went
into it failed to live up to the agreement,
which. of course, prevented its members
holding together. This company, how
ever, has paid in capital of a million
and a quarter of dollars, and the direct
interests of it's stockholders are at stake.
1t is formed for the purpose of getting
the manufacture of lumber down to a
more economical basis, and at the same
time keeping the prices up to a proper
standard. Under the circumstances there
is little doubt that it will accomplish the
objects for which it has been organized.
The directors will continue their meeting
to-day and wind up all matters in connec-
ton with the formal and final organza-
ton of the company. The circulars an
nouncing the organization of the company
are dated Aug. 3.
TO SAVE THE WAITS.