Pine Bluff daily graphic., 1912-02-01
CLIO LUlfAk Bt.OMpANY IS REOR- GANIZED WITH J. H. ALLEN,
 PRESIDENT AND MANAGER.
T R A NSFER IS M AIDE
Plan Outlined by Late J. F. Ruther. ford to Be Carried Out By
 New Owners.

All UT the properties or the Clio Lumber Company, including its tim Der lands, mammoth lumber mil, the Anderson and Saline River Railway and all merchantable timber, which were recently purchased by Abraham B. Newman, of Chicago, at a sale by Special Master in Chancery Durand Whipple under the auspices of the United States District Court, were turned over to it's new owner yester- day and the organization of the Tri- angle Lumber Company and the Vir- gin Lumber Company, both of which
 will maintain offices in Pine Bluff, followed. The organizations have not been perfected as yet, but tt was stat ed yesterday that James H. Allen, Of this city, who represents the Ruther- ford interests, has been elected presi- dent of the new concern and as gener- al manager he has already been placed in charge of the entire holdings of thA companies.
 With Attorney Ben J. Altheimer, who was instrumental in interesting the Newman interests of Chica 20 in the large Arkansas timber holdings. MT. Allen went to Clio yesterday af- ternoon and will return to this ely today. He will begin some active
 work in carrying out plans of the new owners of the properties and the in tention is to develop every department of the lumber companies, including the extension of the Anderson and Saline River Railway Company to Pine Bluff, which is to be discussed at a meet ing of the Chamber of Commerce to- night, and details of which meeting are reviewed in another column of the Graphic this morning.
 companies at Clio is to be run at full capacity and many improvements made in order to handle the large amount of timber that is to be placed on the market by the big concerns within the next few years.
 In carrying out the ideas of ths new concerns, MT. Allen is only per- fecting plan that was outlined by the late John F. Rutherford when h1 passed away, preventing successful termination of one of the most sys- tematic plans ever outlined by finan- cier in this state. Every detail of MT. Rutherford's plans, which were made known to Mr. Allen by MT. Rutherford before his death, are to be made effective. MT. Rutherford, was operating the Clio plant successfully even under receivership handicap and he had planned to make 1t come out of it's financial embarrassment de. spite the heavy burden of impatient creditors. He was accomplishing the work when the Grim Reaper invaded this city and removed him. As near as possible Mir. Rutherford's plan will be adopted by the new owners of th.I holdings.
 The other officers of the new con- cerns are to be made public within the next few days. Attorney Ben AL who at the request of MT. AL len. interested the Chicago capitalists in the Clio deal. will in all probability be the vice president of the companies and w. J. Lockwood and w. L. Hem ingway. of Little Rock, are to be also identified with the new concerns, as officers of the companies.
 The plans for the reorganization of the new concerns have been prac- tically perfected. but some minor de- tails are to be arranged before the companies file incorporation papers