HARDWOOD RECORD 



45 



to $4 more now than they did at that time, 

 they argue that the veneers should have a pro- 

 portionate increase. On the other hand, how- 

 ever, they find dealers in the South offernig 

 to northern manufacturers veneer at prices 

 lower than the Louisville men with an ad- 

 vantage in the freight rates, are able to make. 

 An organization whicii will go over the situa- 

 tion and determine what would be an equi- 

 table price for veneers is what is needed now. 

 Ihey say. 



Another interesting feature of the veneer 

 situation has developed. During the boom 

 limes last year, manufacturers, in order to gel 

 enough of what they wanted, placed their or- 

 ders several times over with different veneer 

 companies. When the slump came it was not 

 possible to countermand all of these, and as a 

 result some of the manufacturers of furni- 

 ture, for instance, were so badly overstocked 

 that they had to build new sheds to hold the 

 material which flooded in upon them. That is 

 why the market in this direction was so slow 

 responding to generally improved conditions — 

 the overstock had to be used up first. Now 

 that new orders are beginning to come in 

 again, however, there is danger that the old 

 crowded situation will be resumed. 



In the dimension stock, trade inquiries are 

 more numerous and the output is consider- 

 ably larger. There is a good demand just 

 now for plain oak of the better grade and for 

 yellow pine, which has risen in price per- 

 ceptibly. Prices in general are stiftening, and 

 a sharp advance will not be surprising in the 

 next few weeks. The flooring trade, along 

 with the dimension stock dealers, is profit- 

 ing by an increase in building operations, 

 which in this section have taken on unwonted 

 activity. 



As an indication of the interdependence of 

 the various branches of trade, the short sup- 

 ply of oak at present is cited. During the 

 slump in the market, when the demand for 

 lumber was small, the lumbermen in the pro- 

 ducing districts did not get out their usual 

 supply, believing that it would be a waste of 

 time and, in addition, would help to demoral- 

 ize the market. Now that business is assum- 

 ing a more favorable aspect, dealers are find- 

 ing it hard to get a sufficient supply of the 

 lines they want, and there will necessarily be 

 a good deal of cutting and sawing in the next 

 few weeks in order to get ready for the an- 

 ticipated demand. 



In general, it can be said that the situa- 

 tion at present and the outlook for the imme- 

 diate future are better than they have been 

 in a long while. 



MILWAUKEE 



Increasing demand from manufacturers is still 

 the leading and hopeful factor in the Milwau- 

 kee hardwood situation. Dealers are expecting 

 that business in this line will not materially 

 expand until after the uncertainty of the fall 

 election is over. Plenty of improvement has 

 taken place already and warrants a stationary 

 period for a short while. The railroads are de- 

 manding considerable stock and indications are 

 that this phase of the trade will steadily im- 

 prove. Practically all of the rolling stock for 

 the Pacific extension of the Chicago, Milwaukee 

 & St. Paul Kailway is being turned out at the 

 West Milwaukee shops of the company, and 

 this fact is doing much to brighten up the 

 hardwood trade. An average of twenty-four 

 stock cars arc being built daily at the Mil- 

 waukee shops and are being sent West. Dc; 

 mand In the building field is beginning to make 

 itfolf felt and dealers are preparing their stocks 

 in readiness for a good fall trade in this line. 

 The long drought in Wisconsin territory has at 

 last been broken and dealers say that this will 

 do much to Increase fall building in the country 

 districts. Confidence Is being restored and 



dealers in general have been impressing the fact 

 upon the trade that prices will never again be 

 lower in general building material. 



The market is presenting a healthy outlook. 

 Prices are gradually rising in some lines, but 

 in general few changes have taken place, al- 

 though a firmer tone is evident. The oaks are 

 steady with the better grades in leading demand. 

 Maple, birch, ash and basswood are still being 

 sought. Panel stock of poplar is also in demand. 

 Stocks in general are showing greater ninve- 

 ment. 



ST. LOUIS 



While th2 improvement in the hardwood trade 

 is slow, it is sure. There is a noticeable in- 

 crease in the consumers' trade. Buying on 

 railroad accouiit is also better. Business is not 

 yet up to the normal, but because there is a 

 slow, continued increase dealers think it has 

 come to stay. Keports from the mills show 

 that production is in-i-f ir-ir.-. l-.nt on a limited 

 scale only. The ni.ni i i - • Mm n.jt seem in- 

 clined to accumulji i n-'ii raiile amount 

 of stock. Oaks, h'llt i>,i ni.l white, are the 

 best sellers and are the best in demand here.i 

 There is a great scarcity of lirst and second 

 plain oak. Little is to be had. This is particu- 

 larly true as to Inch plain red oak. Quartered 

 oak is also very scarce. White oak in first and 

 second is particularly scarce. Poplar is moving 

 fairly well. Cottonwood is in increased sup- 

 ply. Prices on all better grades of Items on the 

 hardwood list arc firm. 



MINNEAPOLIS 



Renewed activity on the part of the rail- 

 roads is reported by concerns in the Twin 

 Cities, and this is an encouraging feature. 

 Owing to the extreme dullness in this class of 

 business prices are badly off on material which 

 the railroads use. and have not begun to re- 

 cover yet. However, the roads are getting 

 into the game and have placed some big orders 

 tor oak ties and timbers. Others are hanging 

 fire, with bids just going in. They are also 

 beginning to call for more car stock. The fac- 

 tory trade in the Twin Cities is oft a little 

 as to volume, and the leading consumers 

 continue their policy of buying only for imme- 

 diate needs, but they are placing small orders 

 with regularity, and have no material accu- 

 mulated. The sash and door concerns are all 

 busy and the furniture men report a good 

 season, so they will be in the market for 

 something right along. 



Country demand is somewhat better, though 

 not heavy yet. Flooring and wagon stock 

 are the- principal sellers. Oak is holding up 

 well, and plain oak is quoted here at $46 to 

 S48. Quartered is worth $77 and upward. 

 Birch is quiet and about the same, with prices 

 on firsts and seconds ranging from $2S to $30. 

 Casswpod uppers are still, but there has been 

 some cutting on the box grades of basswood, 

 which have not been much in demand for 

 some months. Other northern woods are 

 quiet, but stocks of them are so light that th^' 

 condition does not cause any worry. 



SAN FRANCISCO 



Business locally continues very good, and, 

 to the surprise of everybody, hardly a day 

 p.nsses but that new buildings are planned 

 and started. Values of building contracts re- 

 corded are running much below those of last 

 year, but if you take into consideration cost 

 of building has been reduced about thirty to 

 forty per cent it is readily seen that even 

 where total figures are less, actual construc- 

 llon is equal, if not really a little larger. 



The interior trade keeps up about as iisiKil 

 and collections are good. 



The coast crops have been abundant, and 

 with the exception of the grape crop have 

 .sold at good figures. The money coming into 

 the interior generally finds its way into the 

 large cities, particularly this one. and helps 

 that line which is in most need of funds at 

 the present time — real estate, values of which 

 are high. The lower section of the city, 

 where the wholesale and retail districts are 

 located, are well held, and the many owners 

 are planning improvements. 



Some large jobs in birch are on the market. 

 :ilso quite large quantities of flooring are in 

 prospect, all of which will naturally find their 

 nay East sooner or later. Local hardwood 

 sawmills are busy, although they are not 

 running overtime. They report plenty of 

 work ahead, especially for the spring. Jeni- 

 sero, mahogany, oak and Spanish cedar logs 

 are coming in quite satisfactorily. 



SAOINAW VALLEY 



There Is more volume to the trade than 

 sixty days ago, but during the last month the 

 trade has been steady and a little more than 

 holding its own both in the matter of prices 

 and quotations. The buying has been of the 

 hand-to-mouth brand for some weeks and 

 there is hesitation expressed to hold off until 

 after election. There is enough stock in hand 

 to meet all the requirements of the trade 

 Prices are holding up strong. 



LIVERPOOL 



The trade at this point has distinctly im- 

 proved during the past month, having made 

 rapid strides towards normal conditions. Prices, 

 too, have shown some improvement, and sev- 

 eral consignment parcels have met with good 

 support. Wagon oak planks which a month 

 ago could not be sold at any price, have been 

 cleared in considerable volume the past few 

 daj'S ; in fact, if shippers have any parcels of 

 good specification on hand, they could not do 

 better than to send them forward. However, 

 the future is not regarded with much optimism, 

 as the cotton strike in Lancashire promises to 

 be a long one and it is feared that the rally 

 in prices is only temporary. Shippers are 

 strongly advised to take chance of enhanced 

 prices at once, as the general opinion here is 

 that values will go lower again. 



Hickory stocks are almost entirely absent, 

 and if shippers have any wood on hand they 

 should send It to this market, as values are 

 very high. Prime wood could easily bring 2/6. 

 Prominent consumers assert every day that 

 they do not know how long their present stocks 

 will hold out unless new woods come forward 

 early. Many have to refuse orders owing to 

 the lack of supply on hand, and the position 

 win be really serious for the large consumers 

 if large quantities do not come to hand at 

 once. Ash is weak, both in log and plank, the 

 former particularly so, though large wood If 

 prime and white, would find some sale. Oak 

 boards are weak and should not be shipped. 

 Maple logs of large size are wanted, but the 

 import of manufactured flooring has been over- 

 done and is unsalable. Birch is firmer, owing 

 to stoppage of the import, but there is not 

 muclt real demand for it. 



PORLAR 



Rough and Dressed 



SOUTHERN HARDWOODS 



M. A. HAYWARD 



1021 SaTing and Trust Bldg., Columbus, O. 



