cents a gallon to Leakin like innocent little lambs. Of course, the inevitable occurred. Buenos Ayres and Berlin not only refused to pay, but returned the consignment, and the Savannah factors now refuse to touch wood turpentine at any price. "It seems that, when the Northern owners sent their representative down to investigate, Leakin frankly told him that he did not intend to make money for any ---- Yankees. They thereupon swore out a warrant for his arrest, but he wrecked the plant at night and was hurried out of town by his relatives. "Now, so far from discouraging me, this serves my purpose well. For with sixty per cent. profit on the manufacture of wood turpentine on paper (as per my previous reports), which cuts to between forty and fifty in actual operation, it is one of the future industries of the South. Of course the little plant I propose to build at Guildford or near by will only be a mouthful. I figure that between ten and twelve millions of dollars would corner the turpentine market, and then put the price of orchard turpentine so high that it would practically be off the market. Then we could force the consumers to take wood turpentine in its place, and in this way show them that it will do the same work and bring the same results as the regular orchard turpentine. They are afraid of it now, so they must be reduced by compulsion to giving it a fair trial. I bought ten barrels of wood turpentine made by the company at Lightning, and sent a small sample to every paint and varnish manufacturer in the United States, with a letter giving them the chemical analysis and asking the recipient to give it a fair trial. About one-third replied that it seemed satisfactory, and sent me orders for from five to ten barrels for a trial, but they want it at about ten cents per gallon less than the orchard. It seems that no one will pay within ten cents of the regular market price. I turned these orders over to the Lightning company on a commission, and am making quite a neat little sum out of it, though I never thought of that end of the proposition when I sent out the samples. I tried the experiment to see what sort of a market I could look for. There is no reason why this wood turpentine should not be shipped and sold as regular turpentine, and one good strong corner on the market will bring this about. "To continue my investigations, I want you to organize a small company, giving me control. I shall erect a twenty-cord plant between Enterprise and Guildford, within wagon distance of the wood-supply of the estate. Recollect that this process uses only the fallen trees and stumps of the long-leafed pine, which are reduced to a sawdust, and this is then put into the retorts. Steam is then injected, which tries out the turpentine, which is then run into the refining still.