flaMwoM Room 



Published In the Interest of HaLrdwood Lumber, America.n HsLrdwood Forests, Wood Verveer Industry. H&rdwood Flooring, 

 Hai.rdwood Interior Flrtlsh, Wood CKefnlca.ls, Sa.w Mill &nd Woodworking MsLChlrtery. 



Vol. XXVI. 



CHICAGO. MAY 10, 1908. 



No. 2. 



Published on the 10th and 25th of each month by 



THE HARDWOOD COMPANY 



HENRY H. GIBSON. Ed[tor. EDGAR H DEFEBAUGH. Monaaer. 



7th Floor, Ellsworth Bldg., 355 Dearborn St., Chicago, 111., U.S.A. 



Telephone Harrison 4960 



REPRESENTATIVES 



Philadelphia Jacob Hollzman, 916 Rothschild Buildins 



Cenlral Territory 



TERMS OF ANNUAL SUBSCRIPTION 



In the United States, Canada, Philippine Islands and Mexico $2.00 



In all other countries in Universal Postal Union 3.00 



Subscriptions are payable in advance, and in default of written orders lo the 



Entered as second class matter May 26. 1902. at the Postoffice at Chicago. 

 Ill , under act of March 3. 1879. 



Coming Association Meetings. 



HANDLE MANUFACTURERS' ASSOCIATION. 

 The Handle Manufacturers' Association of America will 

 hold its regular semi-annual meeting at the Louisville Hotel, 

 Louisville, Ky., Wednesday, May 20. 



SOUTHERN CYPRESS MANUFACTURERS' 

 ASSOCIATION. 

 The fourth annual meeting of this organization will con- 

 vene at New Grunewald Hotel, New Orleans, Wednesday 

 and Thursday, May 20 and 21, at 10:00 a. m. 



NATIONAL VENEER & PANEL MANUFACTURERS' 

 ASSOCIATION. 



The National Veneer & Panel Manufacturers' Association 

 will meet at the Ponchartrain Hotel, Detroit, Mich., June 9. 



NATIONAL HARDWOOD LUMBER ASSOCIATION. 



The annual meeting of the National Hardwood Lumber 

 Association will be held at Milwaukee, Thursday and Friday, 

 June 11 and 12. 



NATIONAL LUMBER MANUFACTURERS' 

 ASSOCIATION. 

 On June 16, 17 and 18 the National Lumber Manufac- 

 turers' Association will convene for its annual meeting at 

 Minneapolis, Minn. 



- General Market Conditions. 



y The very bad weather conditions that have prevailed tbrough- 



" out most sections of the country during the past fortnight have 

 [^ not contributed to the welfare of the hardwood lumber business. 

 The average operator, manufacturer or jobber, reports that as 

 ;• compared with a year ago business is averaging only about 50 



per cent. Nevertheless hardwood men are taking a very philo- 

 sophical view of the situation and allege that they do not expect 

 the strenuous booming times of a year ago, but are going to try 

 to be satisfied with conditions as they are. 



Perhaps the opinion of Judge E. H. Gary, formerly of Chicago, 

 and now chairman of the board of directors of the United States 

 Steel Corporation, the largest business organization ever formed in 

 history — reflects the concensus of general opinion. Mr. Gary is a 

 thorough optimist concerning the financial and industrial future. 

 He believes that conditions in the business world are already 

 normal, with a few scattering exceptions, and that these weak 

 places will be straightened out by natural causes very soon. He 

 does not expect a boom, nor does he anticipate so active and 

 prosperous a year as 1906 or the first eight months of 1907, but 

 he does believe that the business interests of the country are 

 rapidly settling down into healthy, wholesome conditions; that 

 prices will be maintained and wages continued; that the demands 

 for all products both of the soil and of the factories will afford 

 a reasonable profit to all concerned in their production. 



To all appearances the strong financial institutions are mov- 

 ing but a very moderate quantity of lumber. Buyers are holding 

 off for snap trades, and in a good many cases are buying stock 

 at considerably less than they have been able to for years. How- 

 ever, the source of these cut prices is usually the weaker financial 

 institutions, or people who seem obliged to realize on their lumber 

 The strong, large operators are holding their prices firm and con- 

 sequently are getting but a modicum of the going business. They 

 seem to feel that a good stock of lumber is a better asset than 

 money, and that with the renaissance of demand which is surely 

 in sight they will be able to dispose of the stock at prices that 

 will represent a fair profit. 



The good end of poplar is still commanding practically as 

 much money as it did a year ago. The same may be said of 

 quartered oak. Plain oak is undeniably being sold at $3 less 

 than top notch prices, and gum is also suffering with the general 

 decline. Of the northern woods birch is being hit harder than 

 anything else, while maple stands up at least within a dollar of 

 the prices of last year. 



In hardwood flooring the oak product appears to be com- 

 manding a fair volume of business at good prices, but unfortu- 

 nately during the last fortnight there seems to have been an over- 

 anxiety to dispose of the maple product — and prices are being 

 slaughtered to some extent. As a matter of fact, the current 

 values of maple flooring are less than the cost of the lumber with 

 manufacturing expenses added. There is to be an early meeting 

 of the Maple Flooring Association and very likely an agreement 

 will be made at that time which will put prices back on a logical 

 level. 



The majority of veneer manufacturers seem to be running 

 only about half the time and prices being received for this product 

 are far from satisfactory. 



Export conditions in hardwood are a long way from what 

 they should be; in fact, the domestic business is in far better 

 shape than the foreign trade, 

 volume of trade 



Black walnut has declined both in 

 price, and the situation seems to be 



