The Daily Alaska empire., 1947-04-30
TORNADO WINDS KILL 20, INJURIES 5(
New Million Dollar Firm Takes Over Juneau Mills;
 Facilities 10 Be Expanded

The Juneau Lumber Mills, Inc was scheduled to change ownership at p. m. today with control be- ing transferred to a new million dollar corporation, the Juneau Spruce Corporation. The new concern, owned primarily by Ore gen lumber interests, expected to complete the final details of its negotiations today.
 D. D. Dashney, of Portland. Ore, who is here to handle final nego- tiations, said the sale involves pur- chase of the Juneau sawmill and lumber yard, the Juneau Logging Co.,, the Juneau Motorship Co, a lumber yard at Anchorage and a sawmill and lumber yard at Fair banks. All of the old companies will be combined into one new cor poration.
 Forming the corporation with Dashney are R. c. Hastings and Williams Ruhmann. also or Port land. The Board of Directors con- sists of: H. F Clancy, Portland Company President; Thomas w Dant, Portland; E. s. Hawkins Juneau, Vice-P President and Resi- dent Manager: George B. Schmidt, Juneau, Assistant Man ger; J. S. Forester and Freeman Schultz, Coos Bay, Oregon; and Jens Jor- gensen, Coquille, Ore
 Capitalization
 The corporation is capitalized at $1 100000, which has already been completely subscribed. The stock is divided into 5000 shares of pre- ferred having a par value of Sl00 each and 50,000 shares of common with par value of $l0 per share
 E. s. HaWkinsu company man. ager, recently moved to Juneau from Lebanon, Ore, where he was the proprietor of logging opera tion and a small sawmill
 The Juneau mill will be closed all day tomorrow for inventory Dashney said that it will be sev- eral days before the exact pur- chase price can be determined be- cause of the huge inventory and appraisal necessary to be made.
 To Expand Facilities
 The firm contemplates some changes in it's plant here, which will continue to house the main office of the firm. The new own CTS expect to invest additional money in the company for the purpose of expanding present fac- ilities and modernizing their op- erations. Everything will be done said Dashney, to make production more efficient
 As soon as a sufficient supply of logs can be arranged, two-shift schedule will start in the Juneau mill, which will mean the em- ployment of an additional 80 men Sixty more men will be employed as soon as more logging camps can be established.
 George B. Schmidt, assistant manager of the old company, will be kept by the new company and given the same title but will have additional responsibilities. He is to be placed in charge of all re- tail sales in Alaska. No changes are contemplated for the other members of the staff
 Rutherford To Retire
 Roy A. Rutherford, President of the Juneau Lumber Mills, Inc. will be retained by the Spruce Corporation as a consultant foi 30 days. Rutherford founded his concern in 1904 hn Fairbanks He came to Alaska in 1901 and has remained in the Territory since that time. He has operated saw mills at Valdez, Ruby and Ho, Springs as well as at Juneau, Fair banks and Anchorage. He pur- chased the Juneau Lumber Mills in 1919 from the Worthen Lumber Mills and has made his head quarters in Juneau since then.
 Rutherford, now 70 years of age plans to retire as soon as his af- fairs in Alaska are concluded He has already purchased home ir Seattle and will reside there. He expects to make occasional visits to the Territory, but hopes tc be able to take it easy for a while, at least.