The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-05-11
LUMBER FIRNs To COMBINE.
4 Big Consolidation VIII Probably
he Effected To-day.


An effort is being made By several of
the leading lumber men Of this section TO
effect a consolidation OF their interests.
and the indications are that the effort
viii be successful
About three years ago an association
known as the Georgia Pine Company was
organized here composed OF most Of the
large mill owners Of this section. The
intention then was 10 consolidate inter-
ests TO effect savings in the cost Of opera
tion and disposing Of the mill products,
and also TO lessen competition, and at the
same time enable the mill men TO get
better terms in the adjustment Of their
Indebtedness. For various reasons the
combine was never carried into effect.
though the organization is still in exist
ence.
Mr.. Henry p. Talmadge. of the we'll
known banking firm Of that name OF New
York city. has been here several days.
and is believed 10 be the moving spirit in
the effort to effect the consolidation. Mr..
Talmadge is largely interested in Georgia
timber lands. With him is Mr.. c. c.
Southland the well-known lumber COM
mission merchant, Of IS Broadway, New
DIRK The lumber firms which are known
10 be interested in the movement are Nc
Donough & Co. and Sullwen, Millen &
Co, OF Savannah, and James x. Clarke
& Son OF Darien- Mr.. Clarke and Mr..
Adam Strain OF Darien have been at the
De Soto for two or there days. and Mr..
Loring r. Millen is also in the city.
The scheme in general terms contem-
plates the formation Of one company. in
which all the properties shall be vested,
each of the present owners receiving stock
according to the appraised value Of their
holdings. The Indebtedness Of the lum-
hnWw1an a ha n u 80
vannah banks hold large amounts. will
also be arranged for, the banks
TO receive certain amounts Of the stock
OF the new company, as well as to be Sc
cured in other ways. a meeting Of several
of the bank officers, with Mr.. Talmadge
and others interested was held yesterday,
but what result was accomplished is not
known. Mr. Talmadge is known to have
stated that the new concern would be
backed by ample capital, and that the
board of directors would be composed of
well known financiers Of Savannah and
New York. A banker, with whom Mr.
Talmadge discussed the matter, stated to
a Morning News reporter that the plan of
organization is good one and that the
concern would evidently be a solid one
from the start.
Several of the parties interested We're
seen by a Morning News reporter. but
they were unwilling TO discuss the matter
and preferred TO have it remain quiet for
the present. Mr.. Talmadge was very
evasive In his answers and would not
acknowledge to knowing anything about
the matter. Messrs. McDonough and Still
well acknowledged that such a plan was
under consideration, but said that moth
ing had been accomplished as yet. II was
still uncertain, they said, whether or not
such an organization would be effected
Mr. Southland was also seen, but he
declined to discuss the matter. 1t was evil
dent from the manner in which the gentle
men spoke that the details of the matter
have not yet been entered into. The pros
poets OF perfecting the organization, how
ever, are thought to be very good, and it
Is possible that by tonight the agreement
may be completed.
II the organization is completed it will
make the largest lumber manufacturing
concern in the state and probably in the
south with some of the best known men
IN the business a the head of it and plenty
Of money to back it.