Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-03-23
THE LUMBER TRUST
Organized and Chartered to Con-
troll North Carolina Yellow Pine.
Tho "southern Saw MIL and Lumber Com
pany"- Branches of tho atlantic Sen
board Pine Company" Incorporated at
Raleigh Wednesday.

The Raleigh News and Observer of
yesterday contains the following of in
kterest to many people In this section:
<The Southern Saw Mills and Lum-
Der Company" which is the North
Carolina branch of the new lumber
trust known as the Atlantic Seaboard
Company" of Philadelphia was yes
terday Incorporated here by the Score
tary of State.
The capital stock OF the company
shall be 100000. divided into shares
OF the par value of $40. The incorpor-
ators are all Philadelphia parties, as
follows: Atlantic Seaboard Company,
49,997 shares; w. L. Weber, 1 share;
John H. Cromie. Jr.. 1 share, and Au-
gustus Miller, share
The principal offices of the corDora-
ton shall be at Philadelphia, Pa, and
at Lumberton, y. c., and the places
of business shall be at Lumberton,
Nlngsdale and such other places in
North Carolina as may hereafter be
determined upon. The duration of the
corporation shall be thirty years and
its business shall be that of acquiring
timber and timber lands and other real
estate, and disposing of the same:
manufacturing and selling lumber and
commodities manufactured from tim
her. and doing such other things as
may be deemed essential or convenient
to the conduct of the business contem-
plated.
Annual meetings of the company are
to be held at its offices in the city of
Philadelphia on the 18th day of jan
uary of each year, at which time the
officers shall be elected.
This corporation having beretoforo
been Incorporated under the laws of
west Virginia, January 10Th, 1892 and
being now engaged in business at
Lumberton and kingsdale, in North
Carolina. the offices heretofore elected
and the organization heretofore effect
ed is hereby adopted and confirmed,
and until the next annual meeting the
following Shall be the officers: Presi-
dent. Augustus Miller; vice-president,
John H. Cromie, Jr,: secretary and
treasurer. Thomas l.. Carson; board OF
directors. Augustus Miller John III.
Cromie, Jr., and w. E. Weber
The above are also the officers of the
Atlantic Seaboard Company
SOME PARTICULARS.
The Atlantic Scaboard pine lumber
manufacturers early in February COM
pleted all arrangements for a com
bination of the companies. with n cap
ital of $2S,000.000. The yearly product
of the seven big mills which make I'D
the combination is now about seven
hundred million feet, and the compan-
panies which have gone into the trust
are the Atlantic Coast Lumber Com
pany, with three mills at Georgetown,
S. c.: the Surry Lumber Company, the
Banning Manufacturing Company, the
Cape Fear Lumber Company, the
Camp Manufacturing Company, the
Tunis Lumber Company and the John
l. II l1r.,-
iection with the lumber operations 4
coast line steamship company has been
formed. with j. Crossthwait and Lewis
a. Hall as directors to facilitate the
handling of the product of the mills
in the cheapest manner possible.
1t is expected by the men interested
In the combination that It will be able
to control the entire lumber business
OF North Carolina. They now saw
about nine -tenths OF the yellow pine
manufactured on the Atlantic Coast.
The seven companies named own
about ,G00.000o00 feet of lumber and
control about 600 hundred miles of rail-
read. Their sawmll capacity is $780,
600 feet day. and they have large
planning bills and box factories. To-
gether they sell about so per cent. of
all the North Carolina pine sold. the
total output being 100000. 900 feet n
year.
He tLiiS dSSetS OIL the concerns
are estimated at $4,000. 900. and it Is
expected that by practising certain
economies 1t will be possible to pay
dividends on capitalization of $685.
100000. The dominant concern is the
Atlantic Coast Lumber Company, with
an annual output of 100, 900 900 feet
and the ownership of the Georgetown
and South Carolina Railroad. This
company has control of 100000, 900 feet
of stumpage. and the action of the
Federal Government in building ietties
outside the bar off Georgetown has
given a sixteen foot channel to the
companys mills and has made George
town busy and valuable harbor. For
merly there was depth of only nine
feet over the bar.
The Atlantic Coast Steamship Com
pany. in which Mr. Crossthwait and
Mr.. Hall are directors. Is having two
vessels built on the lakes with n cargo
capacity OF 1.750.000 feet each, and the
use of these boats is expected to re-
duce the present high freight charge
of 81 n thousand to $3.50 or 81 a thou
sand. Shipments will be made to
Northern ports from Wilmington and
Norfolk.
North Carolina lumber at present Is
freighted North in small vessels with
Il capacity of 100000 feet board mea-
sure. the rate from Georgetown S. c..
to New York being 81 thousand foot
The new lumber company. it is said,
will not conflict with the yellow Pine
Lumber Company, which was formed
several years ago.