The Virginia enterprise. [volume] (Virginia, St. Louis County, Minn.) 1893-19??, 1908-12-25
DETAllS 0f MfR6fR MADE Pun lc.

Eveaieaiaerald o. Aso~day Gives State
mentI Of New President Relative
to formation Of New, Com
ponv.
| Inc formation OF the new lumb Der
company, merger of the varied in
terests interested in the section to
the north of this city, was finally
adjusted on Monday, and from the
statement of Edward Hines, pres.
ident. to the Duluth Evening Herald,
the consolidation will be of bene-
fetal nature to Virginia. Mr.. Hines
is quoted, in speaking of the con.
solidation, as follows:
ut is the amalgamation of a large
area OF timber, and is known as the
Virginia & Rainy Lake Lumber COM
Pany.
ut includes large tract of tim
Der in the Rainy Lake district,
owned by the Edward Hines CON-
pany; large tract of timber. north
OF Virginia, owned by the Weyer.
haeuser interests, aud the property
OF the Virginia Lumber company.
The property of the Virginia &
Rainy Lake Lumber company COM
prises about 3O00O0O 600 feet of pine
stumpage, the largest and best tract
of timber in this country.
"In addition to this there is some
spruce, tamarack and cedar timber
in the holdings.
"In the amalgamation, what is
known az the Duluth, Rainy Lake 4
Winnipeg railroad property will be.
come the property of the Canadian
Northern railroad.
1.-THE Canadian Northern will
build railroad from Virginia to
this city in the spring, the new COM
pany. the Virginia & Rainy Lake
Lumber company. to have some in.
terest in this road. w. H. Cook will
be president of this road, which will
be controlled both by the Canadian
Northern and the new amalgamated
interests.
"The road will give this city a
large new outlet to the Canadian
Northwest. 1t will give us an op.
portunity to bring manufactured
lumber, that is lumbe that is manu-
featured in Canada, to this country
The recent tariff hearings have led
the men interested in the new com.
pany to believe that the tariff upon
lumber will be revised, which will
give us an opportunity of manu-
featuring lumber in Canada and
shipping it to this country.
"The short line will give us an op
portunity to ship lumber through
Duluth to the great central lumbe,
district, or through this port, by the
lake fleet of the new company, com
prising twenty vessels, which were
owned by the Hines Lumber com
pany, but which now become the
property of the new company, to all
of the lake ports.
"The result of this company car
, be laid to the ten years hard labor
, of Writ H. Cook, later assisted by
William OBrien. Mr.. Cook worked
in getting the timber together
which now has with other interests
been amalgamated into the new
company.
"1f the new amalga,nation had no
been perfected, Duluth would no
have received the benefits of thu
new market. The result Of the new
; company will be that Duluth viii
be a greater market for lumber
coming from Canada; will be {
greater center for labor; aud will b.
the link between the lumber traffic
of the United States and Canada.
"All Of the amalgamated interests
will be represented upon the boa re
of directors. will be president o.
the new company; William O'Brien
vice president; H. c. Horribly, with
the Cloquet Lumber company
secretary;F +. +. Weyerhaeuser, treas
urer;S. c. Cousins, general mana ger
and Mr.. Ketcham sales manager.
"The capitalization of the compa
ny will be about $2O,OOO,OOO, which
will nearly represent the property
controlled by the company. The
new amalgamation will be the big
gest company ever formed in this
country.
THE company was formed for the
purpose of reducing the price Of
manufacturing and marketing lum
Der to the consumer. 1t was done
for the purpose of meeting the com
petition of the Southern pine lum
Der. l will not say that the amalga
nation will result in the reduction
in the price of lumber, but it will
enable US to meet competition and
will enable Us to sell at the present
price. If the amalgamation had
not been made the Weyerhaeusere
had intended taking their interest
from this part of the country. Du
luth and this district will be the
gamer by the deal.
1.-THE interests are friendly to this
city and will do everything to make