The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-10-01
MEN WHO'LL RULE
LEADERS IN THE CONSOLIDATED
NAVAL STORIES COMPANY
TO MEET AT JACKSONVILLE
To ARRANGE THE PRELIMINARY
STEPS OF ORGANIZATION.

Those Who VIII Represent the In
terests OF the savannah COmpa-
mics at the Gathering TO-day-Men
From other POints-LittIe Doubt
That Capital stock to the Amount
of Two and Half Millions VIII
BE Issued-AnOther Savannah Fac
tor Will Attend the Meeting and
Probably Enter the Com binatiOu.
Party Chairman md Freight Diff
ferentials.
The Consolidated Naval Stores Com
pany will be organized in Jacksonville
to-day A meeting of the prominent
officers of the several organizations
represented in the combination is to be
held in that city, and all necessary pre-
liminary steps looking to the forma-
ton of the new company will be taken
The principal representatives of Sa-
vafnah interests at the gathering VIII
be w C. Powell, president of the
Southern Naval Stores Company, and
John r. Young, president of the Ellis
Young Company. In addition to these
men the Southern Naval Stores Com
pany will be represented by its vice
president, &. F. Bullard, ana two of
its directors, w. w. Beach and Alex
ander Sessions, of Waycross. From
Pensacola will come H. l.. Covington,
representing the Gulf Naval Stores
Company, and from Tampa. ]. A Gran
ford, the representative in that city OF
the same concern. J. r. Saunders and
K. P. Rose will represent the West
Coast Naval Stores Company of Pen
saco'a.
The representative of the Jacksonville
interests will be w. F. Coachman,
president of the Florida Naval Stores
and Commission Company; c. d. Rog-
ers, representing the same concern; d.
H. Mcmillan, president of the Mutual
Naval Stores Company, and H. A. Nc
Eachern of the same concern. The
Downing Company of Brunswick will
be represented by c. Downing of that
city.
These are the men by whom the Con-
solidated Naval Stores Company will
be formed. BY them the immense cor
poration, that is to control so large
percentage of the naval stores business
of the future, will have its plans and
policy dictated, and its immediate des-
tiny directed.
New Addition to Combine.
There seems to be but little question
that the capital stock of the COM
pany will be placed at $2,500,000 in
stead Of at $1,000 900. as was at first
intended. This seems all the more nee
essary in view of the fact that there is
another prospective member of the
ipn
trolling large naval stores interests.
who will attend the meeting at jack
sonVille to-day. The Identity of this
factor is not disclosed by the local in
terests connected with the consolida-
ton, but he is a prominent member
of the naval stores colony. whose con-
nection with the movement would add
to the conclusion that he will add
the interests he represents to the
Consolidated Naval Stores Company.
A misunderstanding of a remark
made by Mr.. w. c. Powell and report
ed in his interview in the Morning
News yesterday, occasioned the state
ment that the chairman of the Florida
Railroad Commission had promised
that the differential in favor of Jack
sonville and Fernandina, as against
Savannah, in the sale of turpentine
and rosin, would be increased from ten
and twenty cents to twenty and forty
cents a barrel.
What Mr.. Powell said was that this
assurance had been given him by Ar
thur T. Williams, the chairman of the
Democratic Executive Committee for
the state of Florida. He told Mr.
Powell that the recently elected mem
bers of the Railroad Commission had
made their race before the people large
ly on this issue. and that Messrs. Burr
and Browne would carry out the prom
ises they had made. Mr.. Williams is
said to be the possessor of a larger
share of political influence than any
man in the state. and in matters po-
litical those to whom he states an
opinion as to future happenings are
likely to accept it in entire good faith.
and with perfect confidence in its cor
rectness and truth.
The Savannah factors are little
likely to await quiescently the absorp-
ton of the business by the Consoli-
dated Naval Stores Company. On the
contrary they will not only make their
hight from Savannah, but they will
go into Florida, establishing branch
offices in jacksonville and carrying the
war into the enemy's own country. Al
though the local factors are reticent
as to their intentions. this is generally
believed to be their purpose.