The Lakeland evening telegram., 1920-07-20
LAkGE IkAIL MILL
Is TAKEN OVER BY
CITRUS EXCHANGE
Entire Warnell Co. Holdings Pur'
chased: eau Supply Customers
for Next 20 Years

The Orlando Reporter-Star says:
News of one of the biggest business
transactions in the state in recent
wears comes in the formal announce
ment BY Presidet ]. H. Ross OF the
Florida Citrus Exchange, and is al
iliated organizations the Exchange
Supply Company. of the purchase bs
! the Exchange Supply Company, OF the
Warnell Lumber Company and Veneer
7 Company with headquarters at Plant
City. The transaction involves the
ownership of properties valued at ap'
proximately million dollars or more
through the purchase by the Exchange
Supply Company Of all the outstand'
ing capital stock Of the Warnell Com
pany. 1t includes the big veneer and
crate mill at. Plant. city,. together
with various mill buildings, ware
houses. lands, lots, and other build
ings, the company's saw mill at Fort
Green, the privately owned Warnell
logging road with four locomotives
and full equipment, some forty mules,
wagons and much miscellaneous
equipment.
1t is estimated by Manager w. F.
Miller of the Exchange Supply Co
that the Warnell plant together with
the mill of the Exchange Supply Co..
already in operation at Ross in Hills
toroug county and the mills OF this
cooperative County Sub-Exchange at
Lake Wales and Avon Park will give
for the, manufacture OF practically all
the orange boxes required by some
thing more than four thousand grow
ers who are members of the Florida
Citrus Exchange and whom the Elk
Change Supply Co. serves exclusive
ly. 1t is also estimated that the tim
ber holdings acquired through thi
purchase when added to the presen
holdings of the Exchange Supply Co
and with the addition of another trac
which already is under option, vii
provide timber supply for the box re
auirements of members of The Flor
ida Citrus Exchange for period
approximately twenty years. Preser
arrangements. provide for operatio
OF the Warnell plant under the ol
officers and management, thus assul
ing the benefit of their experience
the business, but under control OF tf
Exchange Supply Co.
From modest start little MOI
than three years ago, the Exchant
Co., already is becoming big ia
tor in the business of Florida. Th
transaction alone will place it in Il
forefront of South Florida busine
enterprise, while its fertilizer facto
and other departments are also !
ported to be showing remarkab
growth. The Exchange Supply Coz
pany is owned by the various loo
associations Of the Florida Citrus q
change, and it's transactions are co
fined to members Of that organizatio
It's announced purpose is Ito make t
citrus growers, who necessarily a
wholesale sellers, wholesale buye
as WE'LL" The company, howev
avoids a disturbance of the ret
markets by making all sales to
members at prevailing prices. !
above the rearkably low costs OF
operation however, is later return
to the purchasers in the form OF
funds and the profit realized there'
In it's first year the company
business in excess of 100000.
second years business exceed
100000, while that for the tn
year, which closed April So 1920,
in excess Of $1,600,OOO. The curr
years business, it is estimated,
approximate three million dollars
en- without the additional volume
be gained throughout the purch
of the Warnel properties.
The directors of the Exchange S
ply Co. are: j. H. Ross, presid
Winter Haven; d. C. Gillett, v
president, Tampa; C. e, Stewart,
secretary and treasurer, Tampa; T
Peters, Winter Garden; A. F,
man, Manatt; W. W. Birchfeld,
Petersburg; ]. w. Sample, Ha
City; C. H. Walker, Barlow; A,
Hamlin, DeLand, W. F. Miller
Tampa, has managed the CONF
since its inception.