Democratic messenger., 1902-08-02
BIG DEAL IN PINE LUMBER.
Governor Smith, Senator Moore.
II. T. Hargis and r. E. Wat
erS Interested.

\ very important transaction i'll the
lumber trade, and in which Snow Hill
people are interested, has just been con-
cluded by the consolidation of the Sur
ry Lumber Co., of which Governor
Smith. Senator Moore and Mrrion T..
Hargis, of this town are members.
and the firm of II. I. Waters Il Co.
The senior Mr.. Waters died not long
since. and his son General Francis f.
Waters, succeeded to the entire business;
he is also one of the officers of the Sur
ry Lumber Company.
The merger is believed to involve
from 81 300, 900 to 81 900. 900 and brings
together interests which have long
worked i'll harmony and which are
among the most influential factors in
the business.
The Surry Company has taken over
for Il long term of years the Norfolk
planning mill plant of the Tunis Lum-
ber Company, which has been in the
hands of receivers FOR over year, and
has also acquired the stock in hand of
the Tunis Company, some 100000 feet
or more. In addition the plant men
toned is to be enlarged to twice its old
capacity, and improvements are being
mills at Dendron and other points, so
that the combination will have at its
disposal upward of 100, 900 feet of lum-
Der per day.
REASONS FOR THE CONSOLIDATION.
In speaking of the reasons which i'm
PEELED him to consolidate with the
Surry Company, General +. Il. Waters
said Tuesday, that for sentimental rea-
sons he regretted the disappearance OF
the old firm name. which his father had
made one that was honorable and re-
spected, but that he was actuated by
important business considerations, chief
among these being the question of con
tinuity. 1t is said that the desire tC
avoid complications and avert the
natural difficulties incidental to u trans
fer of large dealings from one concern
to another i'll the event of long -contin
ued illness or death, caused General
Waters to put aside less tangible argu'
nients and acquicsce i'll the removal oi
the old sign.
General Waters, who has been d
large stakeholder in the Surry Com
pany and its president since the death
of his father, i'll 1900, will continue III
that capacity. and there will he III
changes among the other officers, Gov
ernor Smith remaining vice-president
State Senator John =. Moore secretary
and treasurer, and Edward Rogers
superintendent.
FIRM FOUNDED IN 1865.
The business owned byGeneral Waters
was founded in 1865 by Mr.. X L
| Waters. The firm name was afterwarC
changed to Johnson & Waters. and il
1874 to r. T. Waters Il Son. When ad
vaucing age induced Mr.. Waters To re
tire, his son, General Waters, assumed
| the sole management, and under hi:
direction it constantly expanded. M
modification was made in the name af
ter the death of Mr.. Waters.
The Surry Lumber Company wa
organized i'll 1856 by General Waters
and Mr.. II. L. Waters was made it,
president. Governor Smith its vice. presi
dent, and General Waters its secretar,
and treasurer. Upon Mr.. Waters de
mise General Waters was elected presi
dent, and Senator Moore chosen to fill
the vacancy i'll the secretary treasurer
ship.
There is to be no increase i'll tn,
capital stock of the Surry Company, thu
purchase price for the properties acquir
ed being taken out of the surplus.
| Messrs Foster Il Foster. attorneys "a
law. represented the Surry Lumbe
Company's transaction. The papers il
the deal were filed Tuesday at Norfoll
Virginia.