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Edward Hines (1863–1931) circa 1901. Hines Supply (originally the Edward Hines Lumber Company), based in Buffalo Grove, Illinois, in the United States, is a company which manufactures lumber, plywood and other wood products. [1] It also sells related services such as consultations and cost estimates for building projects. [2]
The Edward Hines Lumber Company owned and operated the railroad for many decades. In 1962, the mill reached a peak in lumber production—134,250,000 board feet (316,800 m 3) that year—as well as in payroll, but employees held strikes later that decade, and the lumber market began to decline in the 1970s. [4]
The Western Lumber sawmill was later sold to the Westfir Lumber Company and in 1946 to the Edward Hines Lumber Company. [8] [9] Hines established a plywood mill in Westfir in 1952. [7] In 1977, Hines closed the mills and sold the entire town, including the water and sewer system. [8]
A community named Herrick was formed just southwest of Burns when railroad promoter and sawmill operator Fred Herrick founded a lumber company there. [5] Edward Hines bought the railroad and lumber company from Herrick in 1928, and a post office named Hines was established in 1931 to serve the Edward Hines Lumber Company mill and surrounding community. [5]
The company was a concern, [9] combining the Weyerhaeuser company's holdings in northern Minnesota, the Edward Hines Lumber Company's holdings in Minnesota and Wisconsin, and the Cook and O'Brien Company's processing facilities in Virginia. [8]
From January 2008 to December 2012, if you bought shares in companies when John V. Faraci joined the board, and sold them when he left, you would have a 7.0 percent return on your investment, compared to a -2.8 percent return from the S&P 500.
Logging in the area began to decline in the 1970s, and the Hines company ceased operations of its lumber mills and railroad in 1984. [7] The town was incorporated as a city in 1970 as lumber company control began to wane. [7] According to the 1980 census, Seneca's population was 285. [7] The estimated population in 2007 was 270. [7]
From January 2008 to September 2011, if you bought shares in companies when S. Decker Anstrom joined the board, and sold them when he left, you would have a 24.1 percent return on your investment, compared to a -18.1 percent return from the S&P 500.
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