1906
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August 6: Starke Land &
Lumber Company sawmill is destroyed by fire.
August 21: President
Charles Starke calls a special meeting of The Henry Starke Land and
Lumber Co. "...for the purpose of deciding the future
course to be taken in the business..." The stockholders decide to send
Mr. John Monat on a trip to see if another lumbering company is
interested in locating in Arcadia to work the company's timber, or if
not, to make an offer to the Buckley-Douglas Lumber Co. of Manistee to
sell the company's timber lands and the Arcadia & Betsey River Railway
for at least $275,000 with a guarantee to continue operating the
railroad to Arcadia. They also decided to sell all hemlock logs on hand,
with the exception of about 300,000 ft., in case they decided later to
rebuild the sawmill."
August 27: In another
special meeting of the stockholders of The Henry Starke Land and Lumber
Co., "Mr. Monat reported some success at Corunna with the Fox & Mason
Co., who with proper assistance would entertain of locating a branch
factory at Arcadia." Charles Starke and John Monat were asked "...to
make best terms with said company to locate at Arcadia."
Sept 4: In another
special meeting of the stockholders of The Henry Starke Land and Lumber
Co., Charles Starke and John Monat reported "...that they had submitted
a proposition to the From & Mason Furniture Co. for locating a furniture
factory at Arcadia, and that the proposition was accepted by the Fox &
Mason Furniture Co. with promises to sell the stock."
October 9: In still
another special meeting of the stockholders of The Henry Starke Land and
Lumber Co., the stockholders agreed to the following:
"Resolved that the Henry Starke
Land and Lumber Co. shall not rebuild its saw-mill and factory at
Arcadia, Michigan, which was destroyed by fire on August 3, 1906.
Resolved that this company offer
the Steamer Arcadia for sale not less than $5,000 in cash, and that the
president of the company is authorized to treat with parties, who may
wish to purchase this property, and to transfer the same upon payment of
the above amount.
Resolved that the Henry Starke
Land and Lumber Co., offer its timber lands, as per schedule dated
October 9, 1906, prepared by Chas. J. Starke, for sale together with the
tracks and rolling stock, depots, ware-houses, and engine houses of the
Arcadia and Betsey River Railway for the sum of $225,000.00 net, on
condition and guarantee that Arcadia shall at all times have a rail-road
connection with some rail-road via Arcadia & Betsey River Railway, and
fair rates of freight to be maintained.
Further resolved, that the
President of the Company with the assistance of John Monat is authorized
to sell the above property at price named and to arrange a satisfactory
terms for payment. The portion of the Arcadia and Betsey River Railway
proceeds from such sale to be $75,000.00, and that of the Henry Starke
Land & Lumber Company $150,000.00 net, without any commission.
Resolved, that the Henry Starke
Land and Lumber Company transfer to John Monat the following ???-party:
the west half 1/2 of block 12, all of block 13 and north 1/2 of block
14, except the sand hills on said property, but including the dry-kiln,
ware-houses, log slides, chairs, fixtures, three new boilers in ???
roll-ways, docks, pumping station, fire pumps and boiler, with
underground piping thereon, also two veneer lathes, one water heater, 40
cords hardwood bolts, 400 cords elm, and bassword slabs, the refuse
heaps of saw-mill and factory partly on block 13 and mostly on block 3,
Village of Arcadia, the one ware-house on block 26, two lumber sheds on
blocks 2 and 3, Village of Arcadia, also one drag-saw, 1 veneer knife
grinder, 1 drag-saw filing machine, 1 circular saw file machine, 1
differential block and carriages.
Also the north fifty feet of lot
8, block 1; part of lot 10, 50 x 125' on block 1; west 1/2 of lots 1 and
2, block 5; lots 12, 13, 14, 15, 16, block 4, Village of Arcadia,
together with ??? dwelling houses thereon.
Said Jno. Monat to transfer this
property to the Arcadia Furniture Co. and in part payment therefore
receive from said company 1000 shares of its preferred capital stock and
900 shares of its common capital stock at a par value of $10.00 each,
which said John Monat is to distribute as follows: to some person named
by the stockholders of The Henry Starke Land and Lumber Co., to be held
in trust for the stockholders of the said company as their interest may
appear, or if decided upon to each stockholder of said Henry Starke Land
& Lumber Co. as his or her interest may appear, 1000 shares of preferred
and 2750 shares of common stock in the Arcadia Furniture Co. to M. A.
Fox and Geo. D. Mason after carrying out certain agreements entered in
connection with the Arcadia Furniture Co., 2400 shares common stock.
Further resolved, that the Henry
Starke Land and Lumber Co. pay into the Treasury of the Arcadia
Furniture Co. in cash the sum of $15,000.00 for which said Furniture Co.
shall issue to some person named by the stockholders of the Henry Starke
Land and Lumber Company to be held in trust for said stockholders as
their interest may appear, or if as decided upon to each one of said
stockholders of said Henry Starke Land and Lumber Co. as his or her
interest may appear, 1500 shares of the preferred stock of said Arcadia
Furniture Co, without any bonus of common stock, said bonus already
being included in the 2750 shares of common stock to be transferred by
said John Monat.
The balance of the common stock
of the Arcadia Furniture Co., (850 shares) the said John Monat is to
transfer to said Arcadia Furniture Co. as Treasury Stock, to be
distributed as bonus to go with unsold preferred stock of said company,
or in such manner as the board of directors of said company may
designate."
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