Evening journal., 1914-12-02
REAR admiral
attacks LUMBER CO.
Wants TO Know Overhead
Charges on Property on
Mexican Plantation
PRESIDENT SUBMITS
HIS ANNUAL REPORT

Rear Admiral w. n Little, u s. NJ,
of New York, participated in an attack
on the management and directors of the
International Lumber and Development
Company at their annual meeting in
/ Pythian Castle today. He insisted on
/ knowing lust what the overhead charges
were at the company's plantation at the
/ Hacienda San Pablo, Mexico A. S.
Wright of Philadelphia followed Admi-
raj Little's lead by demanding to know
/ Just what il cost to produce a bale of
henequen Neither OF these men got
answers that they considered satisfac-
tory.
Mr.. Barnes, a director from Detroit,
defended the board by saying that they
had taken hold of the property only
two years ago and were not in posi-
tion TO give the information demanded.
He said that to get this information
would require the services of an expert
accountant, and possibly several, at a
cost of $40 a day He said these men
would have to be sent TO Mexico. He
stated that he and other directors had
spent their own money in the interests
of the company and that a court had re-
| fused TO appoint a receiver as the
court considered the directors competent
TO manage the property. Mr. Wright
insisted that the receiver was not APP
pointed because the company was sol
vent
The presidents annual report con-
tained much information of interest
10 the shareholders. II showed that
Harvey D. Narrigan had been appoint
ed general manager of the company
last January by the board of directors.
The assessed value OF the property Is
! S3.0O0,0OO A supplemental contract
was made with Felix Beltramo. the
contractor. as the original contract
made It more advantageous to clean
henequen than TO mill It. More atten-
ton will now be paid TO milling IT,
Beltramo has been compelled to re-
main away from Mexico for some time
past owing TO a warning received
from the Mexican consul that il
would not be safe for him to return.
II was stated in the presidents re-
port that Thomas Denlop, who had
been the company's representative in
Mexico. had been short in his accounts
and that II was expected the amount
I
company. It was stated that it was
not known what the amount was. II
was reported after the meeting that
the amount might be $500.
The report of General Manager Har-
vey d. Narrigan of operations at the
Hacienda San Pablo, Mexico, covering
1914, as shown by the contractors
rrfa fal1
DISBURSEMENTS.
Mex. None!
Cleaning Henequen Fields,
- 400 acres ..-.....-.-..-.S 53,4I9.4
. Milling Henequen, 4,Os2 bales lO2.74ll
Day labor ................. 46,202.2 ?
Store account ....... 5,364.6
New Engine-Rasping mill,
rails and construction .... es7s2.4
, IS. S. Dr. Lykes"-Cost Of
boat, Quitting and trans
portation 20 Mexico w 40,24l.s'
NIdse. taken by Mexican Gov
ernment .............. 2l2S
Freight ................ 2,5749i
Revenue stamps .......,,. l,OIl.N
Taxes-Property and special
war tax .................. lls4ll.ul
Cablegrams and kilograms ,4Os.34
EXpenses-Ipport duties and
special services ...... s,7O4.2I
Lumber for repairs -........ $685.
> Interest .................... 6,s27 On
Sundry sums paid in adjust
ment of indebtedness in
cured prior TO July /, 1913 42,OS5.i'
Thos. Dunlop, former repre-
. sentative, salary and ex-
penses .......-.......-... 4,oO9o
I Iotf
and expenses ........... 10000
Fuel oil ................ lOs3.S'
Total disbursements ... S406,8 ,86S.s
Proceeds of Sales.
Henequen. 3s4l bales. ........ .sl03l37.2
Chicle, corn, etc. ........... l33,7OI.5
Live stock and stores. ........ 1880
Total sales ............. 1924, 1927
, Difference between disburse-
ments and sales ........... lsl,07l.0
Statement of account with Felip
Beltramo. contractor. July ], 1913, I
3 October l, 1914, as shown by his report
Gold.
, BY balances account of opera
tion as per monthly reports 500, ,42O.3
To cash paid him in Phila
delphia Office ............. 2O,2s6.4
Balance as per account cur
rent ........-.-......... 9iJ,lS5.J
Less special accounts covering
charges for live stock and
stores taken over hy the