The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-11-18
LIST OF THE LARGE ONES
Among Them Are the Banning and
Cape Fear Companies.
THE BELMONTs WILL FINANCE THE DEAl
The Total Value Of the Various Plants is Abou
S25, 100000. The Combination Will
Control the Market or Caro-
lima Pine.
(By the Associated Press.)

Baltimore, Nov. IA mammoth con-
solidation of lumber companies will prob
ably be announced within a week or ten
days. Fourteen companies at least are to
be included in the combination, il the
plans do not miscarry, and several others,
making perhaps a total of twenty, are
expected to be added. A list of the COR
porations now interested in the negotia-
tions and including the largest of them
is as follows:
Atlantic Coast Lumber Company, of
Georgetown. S. c.
Banning Lumber Company, of Edenton,
N. C.
Camp Lumber Company, of Franklin,
Va
Cape Fear Lumber Company, of Will
mington. N. C.
Gay Manufacturing Company, of Suffolk,
Va.
Greenleaf- johnson Company, of Nor
folk, Va.
E. E. Jackson and Company, of Wash
ington, d. G.
Roanoke railroad and Lumber Com
pany, of Norfolk. Va.
Roper Lumber Company, of Norfolk Va.
Suffolk Saw Mill Company, of Suffolk,
VI.
Surry Lumber Company of Baltimore,
Maryland.
Tunis Lumber Company, of Baltimore,
Maryland.
W. w. Tunis Brothers Lumber Com
pany, of Norfolk. Va.
Virginia Saw Mill Company of Nor
folk Va.
1t is said the deal is the result of a
meeting held in this city prior to the
election. Among those who participated
in this conference were August Belmont
of the New York banking firm; Charles
r. Flint, DR.. Joseph o. White and Joseph
Auerbach, of New York, and representa-
tives Of nearly all the companies named
above.
After the conference the party proceed
ed to Norfolk and inspected the plants
of some of the lumber companies Con-
ferences have since been held in New
York, and the negotiations have, it is
said, practically reached a successful ter
mination.
1t is understood that all the capital
necessary to secure the consolidation will
be forthcoming and that the Belmonts
will finance the deal, the total value OF
the various plants being about $4,000, 900.
MIR. Auerbach is to attend to the legal
side of the proposition
The combination to control the market
for Carolina pine is said to have been
much demoralized by competition between
the numerous concerns in the trade. This
class of lumber figures extensively as
building material, being used in every
way that lumber is necessary in the cree
tion of all classes of structures. Accord
ing to prominent lumber MANI it is not
proposed to advance prices, but to make
money by economizing in the operating
expenses, and also not to increase the ex-
port of lumber. Gossip about the deal
was frequent in trade circles today. Ex-
Senator Tuns, of the Tunis Lumber Com
pany which has it's mills at Norfolk, re-
turned from New York, but declined to
discuss details of the combine. He ad-
mitted, however, that negotiations are in
progress. Governor Smith, of this State,
is heavily interested in the Surry Lum-
Der Company. He is also interested in
the Surry, Sussex and Southampton Rail-
road, which penetrates the timber lands
of the former company. 1t is a narrow
gauge line, twenty Eight miles in length,
and would doubtless be included in the
deal.