OCR Text |
Show SYNDICATE BUYS LARGE TIMBER HOLDING IN MEXICO Portland, Ore.. April 17. Consummation Consum-mation of the purchase, of the entire timber holdings of Colonel W. C. Greene in Mexico, by a syndicate of San Francisco and New York capitalists capi-talists for $32,000,000. is reported by W, S. Cone of Bay City, Ore., who has just returned from Mexico. Mr. Cone, about two year3 ago organized or-ganized a party In Portland for the purpose-of inspecting the timber land, tno purchase of which was thn under contemplation by the men who have just closed tho deal. The tract, into which other parties were also -cnt. Is about sixty miles wide by 120 miles long and lies just south of the Internal Inter-nal ional boundary line in the slate of Chihuahua It has a growth of yellow pine timber to the extent of 15 billion bil-lion feet. Three railroad lines had already been extended Into the tract by Col. Greene's companies and three immense im-mense lumber mills erected. The purchasing pur-chasing syndicate has acquired the lailways and mills and now has a millwright mill-wright at Ei Paso looking over available avail-able sites for another great mill. It is announced that by 1911 the new-company new-company will be prepared to manufacture manu-facture lumber at the rate of 30,000,-CO0 30,000,-CO0 feet a year. At the head of the syndicate is Htr-m Htr-m C. Smith of San Francisco. Another An-other principal in the transaction is Dr. J. S. Pearson of New York City. |