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^ Conditions Abroad During 1912 "$^ 



Reports are at hand from leading hardwood merchants operating 

 in foreign countries, representing the sentiment as it applies to 

 the year's business of 1912 in foreign countries. In speaking of 

 the mahogany import during the year a Liverpool house states the 

 amount brought in during that period was 21 per cent more than 

 for 1911, and that the bulk of it, or specifically 88 per cent, came 

 from the west coast of Africa. The average quality and size was 

 similar to former imports, and throughout the year the various 

 descriptions sold readily at high and advanced prices. The Amer- 

 ican demand absorbed a considerable portion of the African 

 mahogany and most of the richly figured logs of veneer quality. 

 Mexican stock maintained a firm condition throughout the year, and 

 the moderate import which arrived at regular intervals was 

 quickly turned over. Cuba contributed a considerable supply of 

 mahogany to the Liverpool market during the past year, but the 

 consumption of Cuban stock kept pace with the offerings. Supplies 

 were sold mostly on arrival. The condition in Cuban stock now 

 shows that quantities of Cuban mahogany are light compared with 

 twelve months ago and values are appreciably higher. The same 

 can be said of African stock. 



There was but a moderate average import of American walnut 

 logs throughout the year 1912, although figures showed a consid- 

 erable advance over those of the previous year. The wood was 

 chiefly of medium quality and of various dimensions. While the 

 prices were generally steady, lower rates were in some cases 

 accepted for small logs of common quality. There seemed to be a 

 dearth of large, high-grade walnut logs offered. But the begin- 

 ning of 1913 shows a light supply on hand with a good inquiry 

 prevailing for high-grade logs of good dimensioijs. Manufactured 

 American walnut arrived in moderate quantities and was readily 

 disposed of at firm prices, which showed a constantly increasing 

 tendency to become stronger. 



In reviewing the timber trade of Glasgow for 1912 it is grati- 

 fying to note that on the whole a satisfactory year's trade resulted 

 both as regards the volume of business and general conditions 

 which prevailed. The year opened with an appreciable dullness 

 which resulted from the great unrest which permeated the labor 

 world, and the serious strikes which ensued. As soon as these 

 things were disposed of, however, trade picked up rapidly and 

 gradually assumed active proportions in many directions. Thus on 

 the whole the figures for the year make a very favorable showing 

 as compared with other recent years. The extensive demands for 

 shipbuilding requirements marked the dominant feature of the 

 situation. This industry absorbed large quantities of timber, 

 particularly teak and pitch-pine. 



Values without exception pursued an even course . and substan- 

 tial increases were recorded in ma-ny instances. These were chiefly 

 noted in connection with woods feeling, the rise in ocean freight 

 rates. This factor was abetted by the moderation of imports 

 together with the elimination of stocks on hand. In addition to 

 shipbuilding other lines of wood consuming industries enjoyed 

 marked prosperity, among these being wagon building, cabinet 

 making and box making. House-building on the other hand has 

 not been as active as it was anticipated it would be, and so far 

 has shown little tendency to improve materially. The prospects, 

 however, indicate that the situation within the next few months 

 will appear somewhat brighter, although any improvements will 

 undoubtedly be slow and gradual. 



A fairly satisfactory situation prevailed in the oak market, 

 although plain stock was in better request than quartered oak. 

 In the plain oak No. 1 and No. 2 common in inch and 6/4 

 particularly, showed activity and unusually good prices. The 

 consumption of firsts and seconds was considerably healthier 

 owing to the high prices which finally obtained in those grades. 

 The best movement of quartered oak occurred in firsts and seconds 

 which commanded good prices, although other grades did not 

 meet with any great response. Almost all of the import trade in 

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wagon planks was of contract shipments, but a few consigned 

 parcels came forth and were disposed of fairly satisfactorily. A 

 steady inquiry was in evidence for northern oak timber of good 

 average diameter, and no difficulty was encountered in disposing of 

 such shipments at normal prices. Southern woods were not 

 inquired for in the Glasgow market, and consignments of this 

 description should seemingly be avoided. 



The import of poplar was of but moderate extent, although it 

 was amply sufficient to meet the market's demand. The continued 

 high prices which have prevailed, particularly on prime stock, have 

 had the effect of diverting attention to other cheaper woods such 

 as sap gum and Gaboon mahogany. The year showed a moderate 

 average demand for the best quality of yellow poplar logs, although 

 the inferior timber met with but little inquiry. 



Arrivals of walnut lumber at the Glasgow market were trifling 

 during the year, but were sufficient to meet the demand. But 

 limited arrivals of walnut logs were noted and for the most part 

 they were small and of inferior quality. 



The Glasgow market for ash lumber improved somewhat during 

 the year, and fair sales were noted, chiefly in No. 1 common in 

 %, % and 1 inch stock. Firsts and seconds in the same dimensions 

 also sold well, but not in as large quantities as No. 1 common stock. 



There is no stock of hickory logs on hand at the Glasgow market 

 and buyers are experiencing some difficulty in filling their require- 

 ments. The supply of hickory has been moderate all through the 

 year and prices have depreciated sharply during the closing months. 



An increased demand has been noted for sap gum, and a good 

 business has been transacted in both planed and unplaned lumber 

 at generally firmer prices. The reduced consumption of red gum 

 has followed an increased scale of prices. In some instances sap 

 gum has been substituted. The year 1912 showed only a moderate 

 business in red gum lumber. 



Prime dressed boards of cottonwood, % inch thick and 18 and 

 up, and 21 and up wide, have been the only active grades in this 

 wood. 



The market at Hamburg, Germany, has maintained a healthy 

 call for white oak. The imports of this stock, however, have not 

 been much larger than during the year 1911, owing to the gradual 

 rise in prices, and the difficulty of obtaining satisfactory shipping 

 facilities. 



A steady request was maintained for black walnut throughout 

 the year and a rising scale of prices has been maintained from 

 month to month. The better grades particularly enjoyed increas- 

 ing values. As a result in many instances consumers who have 

 heretofore bought the best grades of stock were compelled to 

 take the lower grades during the past year. Owing to the scarcity 

 of lumber shipments during the shipping season for active con- 

 signments, which were rather large during the latter part of the 

 summer, stocks have been entirely consumed and at the close of 

 the year stocks were found to be relatively light. 



The Hamburg trade in mahogany was confined principally to a 

 small quantity of high-grade Honduras and Tabasco stock. Prices 

 which prevailed were so high that they prevented business on a, 

 larger scale. 



Inasmuch as the Hamburg market buys its yellow poplar mainly 

 in logs, but a small business was done in this wood during 1912. 

 In cottonwood also the business was not what it might have been 

 if shippers were not compelled by excessive freight rates to ask 

 constantly rising prices. The imports therefore did not exceed 

 those of previous years. 



A limited demand for red gum was filled by consignment, which 

 arrived occasionally during the year. Sap gum has been in good 

 request, however, during the twelve months, an even level of 

 prices on this line of stock being responsible for the steady inquiry. 



The business in chestnut was rather limited and was done 

 wholly on forward delivery prices, the demand being chiefly con- 

 centrated on the best grade of chestnut lumber. 



