elected president in December 1895. He loaned more money to the company. The company survived until 1897, when Jackson ceased lending money to the company. The company was placed into receivership in June 1897. The receiver, Joel Hurt, also attempted to operate the company, but found the business to be as unprofitable as before. Economic recessions led to the company's bankruptcy. In 1899, the property of The Suwannee Canal Company was sold to members of the Jackson family as part of the "Jackson Trust." In 1901, the property was sold by the Jackson Trust to Charles Hebard, a prominent lumberman of Philadelphia and the Hebard Lumber Company of Lowndes County, Georgia. Logging operations, focusing on cypress, began in 1909 after a railroad was constructed into the west edge of the swamp. Over 431 million board feet (1,000,000 m³) of timber, much of it old-growth cypress, had been removed from the Okefenokee by 1927 when logging operations ceased. The Suwannee Canal survives as a principal waterway into the swamp, and is enjoyed by thousands of visitors each year. See also List of canals in the United States Okefenokee National Wildlife Refuge Okefenokee Swamp Notes Canals in Georgia (U.S. state)