HARDWOOD RECORD 



55 



companies wiU resume activity in their repair 

 and construction work. 



With the exception of the better grades of 

 poplar, basswood, sound wormy chestnut and 

 quartered oalc. which are firm as to price, the 

 quotations in hardwoods are variable, in 

 spite of the fact that stocks at both shipping 

 and consuming points are far below normal. 

 The furniture factories of eastern Pennsylvania 

 are running fairly well, but buying very cau- 

 tiously : flooring makers keep up a respectable 

 activity, as do also the sash and door mills, al- 

 though the volume of business is below normal 

 figures ; veneer and cigar-box manufacturers re- 

 port but little improvement, but they are hope- 

 ful as to the outlook. The packing-box makers 

 state that buying is spasmodic and that the 

 practice of price-cutting, which is lamented by 

 thinking men, is still going on. 



BALTIMORE 



The hardwood lumber trade of this section is 

 much the same as it has been. The demand still 

 leaves much to be desired, and, though Inquiries 

 are more numerous, the range of prices is easy. 

 A better feeling prevails among dealers and 

 manufacturers, however, and there is every indi- 

 cation that the next few months will bring a 

 marked improvement. Manufacturers have cur- 

 tailed production to such an extent that stocks 

 on hand are of very moderate proportions, and 

 any pronounced increase in the requirements 

 would create something of a scarcity, with at- 

 tendant advances in quotations. 



The foreign situation continues to be very un- 

 satisfactory, the extensive stocks held abroad 

 preventing recovery and the restricted demand 

 retarding the distribution to such an extent 

 that no decided improvement is looked for in 

 the near future. To ship stocks under existing 

 conditions is to court trouble, which cannot al- 

 ways be avoided if the exporter holds a con- 

 tract, for the foreign buyer will by various ex- 

 ceptions seek to reduce the amount the shipper 

 is to receive, until the sum is about equal to the 

 current market quotations, which makes it un- 

 profitable to do business. Thus, while the mills 

 here have been holding down, stocks on hand 

 are about as large as ever, the withdrawals be- 

 ing correspondingly restricted, and the suspen- 

 sion of exports serving to keep large quantities 

 of lumber here that would under normal condi- 

 tions have gone abroad. The outlook, however, 

 is better than it was. Not a few of the big 

 consumers are resuming operations and show 

 more interest in lumber than they have for 

 months. While no rush is expected, the clearing 

 of the political situation, it is thought, will have 

 a favorable effect. 



On the whole things are looking somewhat 

 better in the Pittsburg district. There are more 

 mills working and more signs of activity in gen- 

 eral business. A more hopeful feeling prevails 

 and building operations seem to have taken on a 

 new lease of life. In the city the report of 

 building operations in Slay was more encourag- 

 ing than was expected and a considerable num- 

 ber of projects are being started this month. 

 So far, however, the yards are running very 

 sparingly and not a few of them have gone into 

 the practice of loaning lumber ; that is, one yard 

 will order a car of lumber and then divide it up 

 with two of its competitors. The yardmen seem 

 determined to hold their purchases down to the 

 minimum and although their stocks are very 

 small In many lines they are not accumulating 

 any lumber. 



From the trade outside the city come more en- 

 couraging reports. The demand from factories 

 is quite fair and with the large amount of bridge 

 work and trolley line construction going on there 

 is a pretty good market for hardwoods. In the 

 East salesmen report that conditions are much 



improved and some good hardwood orders have 

 been taken there within the past week. Finish- 

 ing lumber for building projects is about the 

 slowest seller on the list, as comparatively few 

 structures are in the state to need such lumber 

 at present. The country mills in many places 

 are running to nearly full capacity and are piling 

 up stocks in the absence of good orders. 



Prices on hardwoods have not changed. Quar- 

 tered oak is very scarce and commands a good 

 figure. The best grades of poplar and chestnut 

 are also good sellers. Locally, there is very 

 little demand for the medium grades of oak, 

 vucstnut or even poplar and prices on these are 

 fully as weak as they were June 1. There seems 

 to be little probability of higher quotations this 

 summer on most hardwoods for the general un- 

 certainty that prevails in business circles is keep- 

 ing down the market demand for all kinds of 

 luirdwood stock. 



BUFFALO 



The hardwood trade is keeping up its former 

 average, and as the summer has turned warm 

 earlier than it usually does and promises one of 

 the old-fashioned hot seasons, there should not 

 be any looking for increase just now. There is 

 quite a movement, and though it goes for little, 

 so long as more is demanded it is very far from 

 being a bad season. While the entire trade is 

 tranquil and there is no reason for expecting 

 less demand before there is more, the dealers 

 will not complain very much. 



Still it is hard to forget how much business 

 was in progress a year ago, and it is wondered 

 when the old swing is to come back again. Some 

 say there is too much politics in the air now 

 for much business improvement and that there 

 will not be much up or down of any sort of 

 lumber for the. summer. Oak seems to be hold- 

 ing its own. Somebody reports that quartered 

 oak is now about the only wood that is bring- 

 ing old prices, but some woods were getting too 

 high and needed a stay. 



It will no doubt be fall before any improve- 

 ment in any prices will take place. There are 

 some reports of sales of a.sh, and basswood is 

 wanted more than before. Elm is hard to keep 

 in stock, and it is remarked that If it was put 

 into low-grade furniture as much as formerly it 

 would soon be used up. The dealers who are 

 bringing gum this way are offering it in that 

 line, but it is plain that our woodworking fac- 

 tories do not know as much about handling it 

 as they will later. 



It seems that chestnut and birch are as quiet 

 as ever, but maple is profiting by the fact that 

 it did not go very high and can now be expected 

 to hold its own right along. Flooring mills find 

 southern pine so low that maple has to sell at 

 very moderate figures also. 



CLEVELAND 



Considerable improvement has been noted in 

 the hardwood situation during the past fort- 

 night. The lumber outlook has shown more 

 activity than for any similar period this year. 

 One reason for the numerous inquiries of the 

 past week or two is thought to be the fact that 

 most of the industries which use hardwood 

 have gotten down to their limit and have 

 simply been compelled to restock. While the 

 volume per order is under that of a year ago, 

 these inquiries indicate renewed confidence in 

 tlie situation. 



Poplar is in the lead as regards demand. 

 There is a steady call for this wood and prices 

 are a trifle firmer, while the movement is quite 

 active. Quartered oak is showing up. There is 

 not a great deal of stock on hand at present, 

 and if the demand grows active it will boom 

 the business in what there is. 



Among the other woods there is not a great 

 deal of activity. Ash and hickory are both off. 

 The wagon trade has been hit hard by the 



industrial slump and has scarcely recovered. 

 Chestnut is also moving rather slowly, though 

 it has a good future. 



Considerable competition has developed among 

 the hardwood interests in this section to dispose 

 of stock, preparatory to taking the usual sum- 

 mer inventory next month. Price cutting is 

 still in vogue, but with any considerable volume 

 of orders it is believed that it will cease. 



COLUMBUS 



Although the lumber business in Columbus is 

 generally regarded as quiet, yet there seems to 

 be a slight gain from week to week. Light 

 stocks are one of the best factors in the situation 

 and that fact leads dealers to believe that the 

 trend of values from this on will be upward. 

 The big dealers are not inclined to sell much 

 around the present level and seem to prefer to 

 keep their lumber in the tree instead of selling 

 at the market value now in force. Manufactur- 

 ers are producing to only meet immediate re- 

 quirements and show no inclination to increase 

 their stocks. IJetail dealers, however, are doing 

 a better business and some of them say that 

 more building is cow being done than there has 

 b3en in several months. Some of them have 

 been compelled to sell lumber at low prices in 

 ordei* to close contracts, but they seem to be get- 

 ling more business and regard the outlook as 

 much improved. 



Some of the liig men in the business contend 

 that the present low prices are due to the dis- 

 poistion on the part of some of the smaller 

 dealers to realize in order to keep their business 

 moving. Columtus dealers are optimistic re- 

 garding the future of the market for hardwoods 

 and confidently predict much better prices in the 

 near future. 'I'he oaks are firmer, but prices are 

 no higher than they were a week ago, while 

 poplar shows no tendency to go lower. Firsts 

 and seconds gum is quoted the same as a week 

 ago and the market for cottonwood is about the 

 same as it has been for several weeks. There is 

 but little quartered oak in the market and values 

 show considerable firmness. About the market 

 for other hardwoods there is nothing new to be 

 said, and but little change is expected to take 

 place during the summer months. 



INDIANAPOLIS 



There has been a slight decline in the local 

 hardwood market within the last two weeks. It 

 is believed to be only temporary, however, as 

 conditions are already improving. 



Hardwood prices are well maintained, with 

 prospects that they will go higher. This is in 

 sharp contrast to yellow pine, which has fallen 

 off 25 per cent in prices and is very unsteady. 



The decline in the demand for hardwoods is 

 believed to be due to a sudden falling off in 

 building operations. Contracts let early in the 

 year have been completed and new contracts 

 have not come in as quickly as expected. 



MILWAUKEE 



The improved condition of the Milwaukee 

 hardwood trade is still being maintained and 

 the market has become stronger during the past 

 week. Buyers take only small orders, but deal- 

 ers say that st,ocks are low and that before long 

 increased buying must prevail. Milwaukee build- 

 ings that are being erected this season are now 

 at the finishing stage and the outlook for hard- 

 wood dealers is bright. 



Stocks are low in the yards of the dealers 

 and several have received cargoes the past 

 week. Little quartered oak is to be found in 

 the market, and what there ' is is firm as to 

 price. Basswood has materially improved and 

 poplar is holding its own. Demand for maple 

 and maple flooring is strong and the market 

 has advanccci somewhat, althougli the advance 



