 In that year Yonge was elected vice president and general manager of the company and in 1903 he became its president, a position he held until 1930, when all the timber on its land, over 400,000 acres, had been cut, and the company was dissolved.He then retired from business at age eighty.Yonge founded a demonstration farm and ranch called Magnolia Farms in 1899, located twenty miles northwest of Pensacola along the Perdido River near Muscogee, but just over the Alabama state line.