HARDWOOD RECORD 



time, but the thick stock is very quiet. The 

 month of October promises to be as good as 

 the past month, as a great many desirable 

 orders have been received during the past ten 

 days. After the election a much better de- 

 mand is antiripatcH for nil hardwoods. 



TOLEDO 



September proved the best month of the 

 year for the hardwood people, and the im- 

 provement has carried well over into October 

 thus far. with a prospect of continuation for 

 some weeks. Most hardwoods have held Arm 

 with the exception of poplar, which has shown 

 some weak spots recently. While the better 

 grades of poplar have been steady as a rule, 

 the lower grades have been in poor demand. 

 No. 1 and No. 2 common and selects, as well 

 as siding, have moved very slowly and at con- 

 siderable concession in prices. The condition 

 is due to slow demand rather than overstock- 

 ing, as there is no large supply on hand. Oak 

 has been in good demand and fair quantities 

 are being consumed in building construction. 

 Building operations have been more extensive 

 recently, and structures of a better class us- 

 ing more hardwood lumber. Factories are not 

 reducing their consumption, the furniture 

 plants, chair factories and vehicle works prov- 

 ing very good customers. Prices aro holding 

 up well all along the line, with the exception 

 of poplar. Shipments are coming in promptly 

 and there is no evidence of car shortages. 

 Dealers will go into the winter with stocks 

 reduced considerably below what they were 

 last year, owing to a policy of buying largely 

 for prpsfnt use only. 



ISDIASAPOLIS 



The hardwood market is fairly active, al- 

 though not so much so as it was two or three 

 weeks ago. Retail yi'rds are now getting fairly 

 well stocked, and wblle there Is much building 

 under way, few new contracts arc being let. 



Furniture factories continue to make a good 

 demand for hardwoods, but vehicle concerns 

 are not as active as they were a few weeks 

 ago, as it seems to be between seasons. On 

 the whole, however, the situation is very en- 

 couraging and a decided Improvement is ex- 

 pected within the next two weeks. 



Logs have been a little scarce owing to the 

 fact that the rivers are lower than they have 

 been for many years. The six weeks' drouth 

 recently broken made the roads so bad that 

 hauling was almost Impossible. 



MEMPHIf 



fiiislness conditions South continue to show 

 Improvement and there Is a gradual return to 

 normal in many directions. The hardwood lum- 

 tier Industry Is giving signs of greater life and 

 activity and manufacturers and wholesalers 

 alike are disposed to talse a more cheerful view 

 "( the outlook. The yellow pine people arc 

 enjoying a very satisfactory volume of busi- 

 ness, as evidenced by the fact that they are 

 resuming operations on a constantly larger 

 scale and are receiving a better margin of proflt 

 on what they are placing on the market. There 

 Is much activity in building lines as shown by 

 the figures for Memphis, published elsewhere 

 in this Issue and as further illustrated In the 

 returns from other important centers South. 

 The steel and Iron business continues to im- 

 prove and the demand is so large that some 

 manufacturers have found It impracticable to 

 accept any more orders calling for delivery be- 

 fore January 1. The railroad situation is cer- 

 tainly much better. Car service reports for 

 Memphis, Dlrmlngham and other districts indl- 

 potc a very large Increase In freight tralBc for 

 September, while the general reports Indicate 



decided decrease in the number of idle cars In 

 the United States. Railroads are running their 

 repair and flnishing plants on a longer schedule 

 while, at the same time, it may be noted that 

 some companies are resuming construction 

 work dropped when the financial depression of 

 last year made suspension absolutely necessary. 

 Xew lines of railway are being projected, and 

 bond issues are being placed without great 

 ditHculty. The southern banks are well sup- 

 plied with funds and they are going ahead with 

 the financing of enterprises of every character 

 as if nothing had happened to mar the business 

 situation during the past twelve months. 



Not only Is there an increase in the demand 

 for hardwood lumber but prices are higher In 

 some directions, with promise of still greater 

 strength as soon as the election is out of the 

 way and buyers begin to anticipate their wants 

 Instead of buying from hand-to-mouth. The 

 price position occupied by plain and quarter- 

 sawn oak in firsts and seconds Is an excellent 

 one. The supply of this class of material is 

 relatively light and holders, realizing this fact, 

 are disposed to be more independent when it 

 comes to placing their stock on the market. 

 Some are holding plain oak at H'i per M, f. o. 

 b. Memphis, and insist they wilt not sell for 

 less. The lower grades of plain and quartered 

 oak are slow and the price on these has shown 

 little If any appreciable improvement. There 

 Is a better demand for red and clear saps gum 

 In the general run of stock of this character, 

 with the preference given in some instances 

 to thick stock In the former. Prices, too, are 

 rather better. The lower grades of gum, how- 

 ever, are meeting with so much competition In 

 yellow pine that the demand Is somewhat re- 

 stricted and prices are rather unsatisfactory. 

 Some holders believe an Improvement is due on 

 this class of material and they are disposed to 

 go lather slow in sacrificing their present 

 stocks. Cottonwood Is showing a better tone. 

 There Is more demand for the higher grades. 

 Including box boards, while there Is but a lim- 

 ited supply of the box grades available In the 

 open market. Only one or two of the Important 

 manufacturers of these grades do not operate 

 box plants In connection with their mills, which 

 Is only another way of saying they are con- 

 sumers as well as manufacturers. They have 

 DO box material to sell, but rather play the 

 role of buyers when they find anything desir- 

 able offering. It Is pointed out here that tbc 

 production of Cottonwood has been on a rela- 

 tively smaller scale than any other Item In the 

 hardwood list, and It Is also conceded that the 

 amount of cottonwood timber gotten out is 

 the smallest on record. Improvement Is looked 

 for by box manufacturers after the election 

 and they declare with positive belief that there 

 will be a most marke* scarcity of box grades 

 within the next few months and consequently 

 a higher range of values. There Is a good 

 demand for poplar and all offerings are taken 

 readily. Prices, too, are quite satisfactory. 

 There Is some demand for shop and select 

 cypress, but the upper grades are generally re- 

 ported slow. There Is but little demand for 

 ash in any grade or description. Production of 

 hardwood lumber Is not more than fifty per 

 cent of an average for this time of the year 

 and, as sales are Increasing, a general reduc- 

 tion In stocks of dry lumber Is anticipated ns 

 one of the almost certain developments of the 



BVANSVILLB 



The hardwood market continues to Improve 

 in this district, though not as much as was 

 expected the past two weeks. It Is thought 

 the election Is diverting business to some ex- 

 tent, and that when the election is over busi- 

 ness men will then turn back to business with 

 renewed Interest and everybody will get busy. 

 The worst featuie at present is collections, as 



money is tighter now than at any time since 

 last October, and with two or three recent 

 failures in the consuming market, the outlook 

 in this respect is not the best. However, it is 

 thought money will get easier after the elec- 

 tion with satisfactory results. Quartered oak 

 is still in best demand, especially in the bet- 

 ter grades, although common is in good de- 

 mand. Plain oak is still improving in demand 

 and price. Poplar and ash are a little slow, 

 although thick poplar used extensively for car 

 building is looking up. Local mill men con- 

 tinue to receive plenty i>r loc.»i nf pood quality 



SASHVILLE 



• onsiderini,' the fact that this is the eve of 

 a presidential election, as it were, and that 

 business conditions are as usual quite unsettled 

 by reason of such fact, the lumber business In 

 and around Nashville is regarded as being very 

 generally satisfactory. While there are not, 

 and have not been, many buyers in the city, 

 still a good deal of business Is being transacted 

 through mall, telegraph and by telephone. Most 

 of the orders arc rather small, yet they have 

 been fairly numerous. With many of the big 

 concerns business has nellnigh reached normal 

 conditions, and this Is more than can be stated 

 In many other lines of business Just at this 

 lime. White oak Is a trifle quiet Just now, 

 but plain red is reported to be in unusually 

 good demand. Quartered oak is bringing good 

 prices and Is very much in demand. Tbc bet- 

 ter grades of poplar are in excellent demand. 

 .Vsli and hickory are a little quiet. Prices are 

 reported to be stiffening a bit, however, in all 

 till- l.i'lliM- Krades of timber. 



BRISTOL 



While there is not a great .amount of actual 

 improvement to report from this section there 

 Is an infinitely better feeling among the lum- 

 bermen, and the Indlc.ttlons are that the 

 betterment will continue through the winter 

 and that business will be restored to normal 

 by the early spring. However, there has been 

 considerable activity recently, despite the 

 dullness on the surface, and shipments have 

 been fair. 



The majority of the large mills will con- 

 tinue to run through the winter, though the 

 yards are still well stocked. Better prices and 

 a heavier demand In all lines are expected to 

 develop during the fall, and the host of fe.l- 

 ing now prevails. 



LOUISVILLE 



It Is possible to be more optimistic re- 

 garding the lumber situation In Louisville 

 now than for many months. In all directions 

 the outlook is Improved, and while In some 

 lines the improvement is only that which 

 comes with Increased confidence and more 

 numerous Inquiries, there is not an exception 

 to the general statement that all dealers con- 

 sider the situation vastly better than It has 

 been since the record period of a year ago. 

 In a good many quarters, in fact, there Is a 

 belief that the difflculty will not be In get- 

 ting orders, but in handling them. The small 

 supply turned out In the producing districts 

 because of the slump in the market months 

 ago must now be looked after carefully, un- 

 less a remarkably large lot Is turned out In 

 the next few months. As soon as winter is 

 fairly here, of course, roads will become Im- 

 passable and It will be Impossible for dealers 

 to Improve their stocks. 



Veneer men in this part of the country com- 

 plain because prices on veneers have not risen 

 as much as they should have done In the 

 past several years. Since the nitches of oak 

 from which the veneer Is sawed cost frnu) - 



