HARDWOOD RECORD 



August, though usually quiet, has proved 

 the bett month of the year so far in the local 

 hardwood market The demand for larger 

 <iuantities of lumber was greater than for 

 some time, and that leads the local dealers 

 here to believe that the real trade is starting. 



The demand for poplar is 'still i- ni^-ni i- 



Ijetter grades. Prices on all 8i:mi I' ! - 



held very firm, and some deal.i - -iit. il.i 

 they are on a par -with those obUiined last 

 year at this time. The demand for quartered 

 and plain white oat; has also developed a much 

 better tone during the past few weeks and 

 the prices obtained for those grades are re- 

 garded as being very firm. Several dealers are 

 still complaining of the shortage of some of 

 tile desirable grades of wood, but tiie present 

 demand has not .aused them any fear. The 

 furniture trade is buying only what their needs 

 require, but are exii.cted to soon increase the 

 amount of lumbei. as business is growing 

 better. Walnut, mahogany and several other 

 woods used in the manufacture of furniture 

 are only moderately active, but nevertheless 

 the prices are bein.e held up fairly well. 



The market f,.r hardwood lumber in Boston 

 and vicinity has developed quite a little addi- 

 tional strength during the past two weeks. 

 Some dealers report many more inquiries and 

 predict a fairly active market this fall. Otirers 

 state that while in leceipt of good inquiries, 

 they are closing very little new business, and 

 ■would not be surprised to see the demand 

 continue of a very moderate character until 

 about the first of the new year. The furni- 

 ture manufacturers have not been free buy- 

 ers, but it is well known that their stocks 

 on hand are small. Some dealers believe this 

 trade will start up in a brisk way inside of 

 a few weeks. A prominent dealer states that 

 some of the Massachusetts furniture manu- 

 facturers now prefer New England hardwoods 

 to those that come from a greater distance. 

 This may account in part for the smaller de- 

 mand for western and southern hardwood.s, 

 A salesman who has recently returned from 

 a. trip through Canada states that he found 

 more interest in hardwood there than he ex- 

 pected. 



Prices of hardwoods have gradually been 

 growing firmer and some grades are now 

 higher than they have been at any time this 

 year. Quartered oak. one-inch, is quoted at 

 «S0 to $83. although there are mills that will 

 not sell under $85. A little business has been 

 done at this latter figure. Plain oak con- 

 tinues to sell slowly. Offerings are rather 

 large, and prices for the most part are easy. 

 A few manufacturers, however, are askin.s 

 $52 to $54 for one-inch one's and two's. Brown 

 ash continues in very good demand, with 

 offerings scarce. Dealers state they could do 



offerings large. Chestnut has received very 

 little attention of late and it is possible to 

 buy it at concessions. Prices of North Caro- 

 lina pine have grown a little firm— -•-} ■^•■mf 

 of the larger mills ivdl not em 

 The better grades of cypres- 



figo seems to continue, but its progress has 

 not been as rapid as the members of the 

 trade here had expected. Whatever the re- 

 larding factors may be. doe's not seem to be 

 clear even to experienced dealers and manu- 

 facturers, but there can lie no doubt that the 



recover.v has h' - i n-^iM- i ;ilily slower than 



the various (l.i--— . .lu .i in the handling 

 of hardwoods i i, i .1 ...son to hope for. 



It is thought 11. .i! 111. iMiiii,:ii situation may 

 be regarded as i.erhaps the most important 

 element among those that have in a way 

 put a brake upon the movement. While 

 there dues net Mti|.e;iv t<. be much doubt as 

 to the (Will lint' III ihe 11,1 ti'iiial contest, the 



camii.-im ..jini;.,^- 111-^1 eimugh uncertainty 



to canse III -It 11,1. Ill Litfiiis directions about 

 placing orders. 



The demand for stocks is of u very fluc- 

 tuating nature. Some weeks nearly all 

 the hardwood men here are quite busy and 

 the aggregate of transactions approaches 

 closely the record for the corresponding peri- 

 od of 1907, and at other times quite the con- 

 trary may be the case. Just why the move- 

 ment is so erratic no one seems to know. It 

 is obvious, however, that the yardmen are not 

 buying with that freedom which the low 

 prices and the depleted condition of the stocks 

 would appear to warrant. There is compara- 

 tively little speculative trade, and while this 

 . would Seem te be a favorable opportunity 

 to pite ■ 111" I I It. lets and hold the lumber 

 f„r till 11 . I III I . the prospect of making 

 large [uiii t- I- I ' I iken advantage of to any 

 mnrke.l .Mini it may be that the financial 

 depression has placed most of the dealers in 

 a position where they are obliged to hold 

 down as much as possible, and where they 

 cannot allow themselves any latitude. Prices, 

 however, are fairly steady and have become 

 rather firmer in the past two Weeks. Some 

 signs of an upward movement are discern- 

 ible, too, and the prospect is by no means 

 unpromising. The foreign situation, however, 

 continues discouraging. The accumulations 

 abroad are very large, and the pressure to 

 sell is so great that values are reduced to 

 figures which leave the shipper without a 

 margin of profit. Frequently he faces losses. 

 Every effort is being made by the National 

 Lumber Exporters' Association to check the 

 forwarding on consignment, which practice 

 is blamed in great part for the injury done 

 to the t'liii^' Iin = itn =-■ Tnder the circum- 

 stanee III ill. I, live been keeping 



very ni ■ ' ' ■ ' ii' ''" >" confine them- 



selves I'liiii III -hiiM'i"- on orders only. 

 Even these shiiiments are hedged with pre- 

 cautionary clauses in order to narrow the 

 scope for disputes as much as possible. 



ode 



md 



BALTIMORE 



CHARLOTTE 



The hardwood situation in this market is 

 iractically without changes of any consc- 

 iienco. The improvement noted some time 



•I'here has been a great falling off in dimen- 

 sion timbers on account of the demoraliza- 

 tion of the cotton mill business, and the sale 

 of large sizes has been greatly cut down, but 

 otherwise business shows a healthy and al- 

 most normal aspect. The demand for flooring 

 ar.d ceiling and high-grade mannfaetnre,! 

 pioduct. desks, etc.. is good. Many grades .if 

 lumber show decided increases in nun kit 

 prices, and on the whole business is decidedly 

 better than was the case several months ago. 

 Furniture malters of this state report the best 

 kind of business during August. Many large 

 new concerns are starting up in different parts 

 of the state, and it would seem that the 

 lumber industry has recovered to a marked 

 degree from the setback caused by the panic. 

 The rccord-breakiiig storms that prevailed 

 over North and South Carolina several days 

 ago did immense damage to lumbermen, but 



CLEVELAND 



While the call for hardwoods of various 

 kinds has increased materially during the 

 past two weeks the same line of stock is mov- 

 ing now as a month ago. Quartered oak 

 seems to be in best demand, although the call 

 for poplar is also good. A number of manu- 

 facturing concerns using hardwoods in con- 

 siderable quantities have resumed operations 

 and depleted stocks are being replenished. 

 The financial situation in Cleveland is great- 

 ly improved over that of a month ago. Plain 

 oak is stronger, with some slight call for 

 hickory and other hardwoods. 



Sales this week have been mostly to furni- 

 ture dealers and the railroads are said to be 

 in the market for large quantities of white 

 pine. In addition to the foregoing, the de- 

 mand for lumber for building purposes shows 

 decided improvement and plans for many new 

 structures are now in the hands of the local 

 architects. The building situation is decidedly 

 improved and. witli the railroads and furni- 

 ture manufacturers in the market for large 

 (luantities of lumber, it seems reasonable to 

 expect consider.-ililr imiirnvement in the trade 

 from this on. Tin .^- m 1 il imsiness situation, 

 in Columbus, i- -1, iiu L^etting better. In- 

 dustrial plants ,11. Ketuim ready to resume, 

 and there seems to be a disposition to move 

 forward all along the line. It is expected that 

 several large structures will be started before 

 the close of the year. The building situation 

 shows signs of decided improvement and an 

 optimistic feeling prevails, not only in the 

 lumber trade, but also in all lines. For the 

 year ending with August. 1908, building opera- 

 tions in this city showed a decrease of about 

 25 per cent, compared with the previous year, 

 when business conditions were far above nor- 

 mal. The total cost showed a decrease of a 

 little over $1,000,000, and the number of per- 

 mits showed only a moderate falling off. 

 Everything considered, the building situation 

 was much better during the past year than 

 was anticipated. 



Prices for nearly all grades of lumber are 

 on the up-grade and show an advancing ten- 

 dency. The oaks are no higher than they 

 were a week ago, but chestnut and yellow 

 cypress are about $3 liigher than they were 

 a few weeks ago. Compared with the market 

 on August 1. yellow pine is about $2 higher 

 and shows a good demand. Inquiries for near- 

 ly all kinds cf lumber are numerous, and 

 many orders Im h. .n jilaeed during the 

 past week, li • 1 



Stocks 



, Li I all for oak floor- 

 I . ,'. I xcellent demand. 



of 111 til} .ii! kimls of lumber, are 

 low and that is regarded as one of the best 

 factors in the situation. The general market 

 seems to be in a good condition and many 

 buyers are inclined to take advantage of the 

 pi-evailing low prices. 



INDIANAPOLIS 



llardwiiod prices are being forced upwanl 

 b.\ the increased demand and the inability to 

 get all orders filled promptly. Local hard- 

 wood and veneer mills are busier than they 

 have been at any time this year, and condi- 

 tions are exceptionally bright. 



Flats and public buildings valued at $750.0"" 

 are now under course of construction, ami 

 local hardwood men have contracts for all ot 

 the inside hardwood finish. Furniture plant- 

 in this and neighboring cities are also work- 

 ing full time, and vehicli- manufacturers an 

 enioyini. the best business of the year. 



