THE DAY OF NO TIMBER 



Is farther away now than tlie ultra-conservationists 

 ten years ago said it was wlien tliey spread an alarm 

 of exhausted supply. 



1.HE theory of exhaustion has been dismissed. Wood is still 

 abundant. It is still and always will be the warm, friendly 

 material that makes four walls a cosy cottage or a magnificent 

 mansion. Our rei^artl for it is inherent. Our children will con- 

 tinue to use it because its adaptability, beauty of finish and sounfl 

 absorbini^ cjualities give it a honie-makine;' charm that no other 

 material possesses. 



And the uses of wood are multiplying phenomenally. We are just now 

 coming to know its real values and save them. Practical l)y-i)r()(lucl utilities 

 that represent more than (id ])er cent of the iisal)le value of trees are now 

 known, in addition to lunil)er which utilizes only one-third. Others will he 

 found. With added use there is added worth. 



J->UMBER need not go higher in cost to consumer to make profitable 

 for all time the ownership of timber. Forest ])rotection. new u.ses, 

 clo.se utilization, efficient nianauenient and economical distrilnition will 

 constantly add to the value of stumi)ai>'e and eclipse the "overhead." Stump- 

 age the raw material — will take the gain. 



1 IMBER investments rest upon fundamental requirements of the human 

 race. liiiihlly selected they are sound, stable and sale for conservative men. 



Tluiii/-Jirc jicdfs (ij colli nntoiis nircstifidliiiii Inis 

 (liven IIS kiuiirlcihii' t/nil has nil iw fur i/nii. A.sl: n.s- fn 

 till i/iiii inure iiIkiiiI Iniiher as ii pliiee far i/aiir fiiiiils. 



JAMES D. LACEY & CO. 



TIMBER LAND FACTORS 



SINCE 1880 

 CHICAGO PORTLAND SEATTLE 



1750 McCormick Building 1310 Northwestern Bank Bldg. 1009 White Building 



