The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1911-09-01

Although Il was not generally known,
between thirty-flve and forty promi-
nent naval stores operators OF West
Florida and South Alabama met In
Pensacola Wednesday afternoon and
organized q quarter of a million dol
lars factorage and commission COM
pany, which in future promises to play
a prominent part in the naval stores
industry in this section OF the state.
Its name VIII be the West Florida Ma
val Stores Company and Il will handle
the product of the various operators
on the same basis and according to the
present system in vogue here and else
where.
The meeting of the operators, when
the organization was perfected, was a
most enthusiastic one and a number
of short talks were made by operators,
all Of whom said the prospects for the
success of the new corporation are
very fattering and predicted that In a
few months the company Will be one
of the leading factorage concerns in
the turpentine belt.
The company is distinctly West
Florida and South Alabama corpora
ton, and not a branch OF any other
business. It has been financed by the
operators of this section and the
profits to be derived from the busi-
ness viii likewise be distributed here.
According to one OF the naval stores
men in the city and who attanded the
meeting Il is home enterprise, in
which home money had been invested,
and In which home men will derive
whatever Dement'S accrue, and none or
the money sent to other sections"
THE OFFICERS. y
At the meeting Of wednesday after
noon, when a large majority Of the
stock was represented, the following
officers were selected:
President-R. F. Mitchell, Pensacola.
Vice President ID. c. McInnis.
Geneva, Ala
Second Vice -President--M. K. Saw
Secretary and Treasured. J.
Hayes, Pensacola
Directors--J. ]. McCashiIl, De-
Funiak; M p Savage, Crestview; IA
III. Howell. Panama City; d. @. Mc-
Innis, Geneva; G. G. Johnson, Vernon;
NJ King, Harris; j. G. Howell, Jrs.
Blackman; r. F. Mitchell, Pensacola,
and s. Ginsberg Messy Head.
AS will be noted, every man con-
| nected with the new company Is an
active turpentine operator, and every
stockholder is likewise engaged In this
business thus making It distinctly an
operators factorage company, and from
this fact the company's success Is as
sured for each producer is expected to
send his product TO the new company
| for II is to be marketed.
The new company will not engage In
exporting its product, but will contract
for sale Of same on date Of arrival in
Pensacola, and in so doing II elimi-
mates all speculative features from its
| business.
COMMENCE AT ONCE
The new company WIN comm ence at
once, although II will possibly be few
weeks before the business assumes the
volume that Is contemplated and its
charter Of incorporation issued. The
new corporation, however, has arranged
contract with the American Naval
Stores Co to handle whatever ship
ments are received and the same fac
forage terms viii apply that have been
In force here for the past half dozen
years.
The organization OF the West Flor
ida Naval Stores Co has been brought
about through the cooperation Of n
number of naval stores operators OF
this section, and II II their wish TO
have a majority Of the operators in the
turpentine belt as stockholders In the
new concern.