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Published in the Interest of the American Hardwood Forests, the Products thereof, and Logging, Saw 

 Mill and Wood-Working Machinery, on the 10th and 25lh of each Month, by 



THE HARDWOOD COMPANY 



Henry H. Gibson, Editor and Manager 

 Edwin W. Meeker'l ^ 

 Hu Maxwell J 



^Associate Editors 



Entire Seventh Floor Ellsworth Building 

 537 So. Dearborn Street, CHICAGO 

 Telephones: Harrison 8086-8087-8088 



BOTAN- 



Vol. XXXV CHICAGO, FEBRUARY 10, 1913 No. 8 



General Market Conditions 



THE HAEDWOOD MAEKET remains without break in its distinct 

 strength in nearly every variety, grade and thickness of hard- 

 woods. Plain oak in all grades is easily tlie distinct leader both in 

 values being secured and in demand. Stocks of both white and red 

 oak in first hands, in shipping condition, are extremely meager. The 

 leading producers of quartered white oak on the basis of recent analy- 

 sis made of its holdings, find that the big producers, involving possibly 

 a Bilf of the stock held in first hands today, have less than ten million 

 feet of quartered white oak in stock. A most liberal estimate of all 

 quartered white oak in first hands in shipping shape today would be 

 surely less than twenty million feet, which is certainly a reversal of 

 stock form from the condition obtaining a year ago. Nearly all 

 southern hardwoods are in equally low supply and almost as much 

 in demand. 



Owing to the wide spread of values between red and sap gum, the 

 sap end of this product is in remarkably strong demand with very 

 little dry stock to be secured. The price of sap gum is ranging 

 below its intrinsic value, and it is more than likely that fully a 

 five-dollar advance on saps will be secured to place the value on a 

 corresponding plane with red gum within a very short time. 



In the northern hardwoods this situation is about parallel with that 

 existing in the South. Maple is holding its ovra well and there is 

 such an insistent demand for birch that dry stocks are practically 

 exhausted, and a good deal of lumber is sold in advance of the saw. 



The trade in the softer of the hardwoods — poplar, basswood and 

 Cottonwood — is also reasonably active at a very fair scale of values. 



When it is known that stocks in the hands of the jobbers and con- 

 simiers still remain very low, it is a question where all the apparently 

 necessary stock to take care of manufacturing enterprises is going to 

 be seciired for a considerable time to come. 



The weather conditions in both the North and the South have been 

 very unfavorable for getting in logs, and it will be sometime before 

 logs can be secured in sufficient quantities to operate sawmills at 

 their full capacity. 



A good many conservative hardwood operators feel that there is 

 a danger in the attainment of too high values on several items of 

 hardwoods, and are advancing to their neighbors in the trade the 

 suggestion that prices on especially short items should not be ad- 

 vanced any further, believing that eventually it will militate against 

 a state of satisfactory demand. 



The Trend of Dimension Conditions 



IN THE ISSUE of January 25, Habdwood Record published an 

 editorial review of observations covering estimated requirements 

 of the hardwood consuming trade as gathered for the purpose of 



compiling iu the bulletin service covering such requirements. Further 

 observations of reports coming in since then indicate what may be a 

 mere coincidence or, on the other hand, a change in requirements of 

 dimension stock. In a considerable number of cases, concerns listing 

 dimension stock in hardwoods among their requirements have crossed 

 out old dimensions and replaced them with dimensions which are con- 

 siderably larger than those utilized in former years. This applies 

 of course only to squares and stock of similar nature. As stated, this 

 may merely be a coincidence, and it must be confessed that it is rather 

 diflicult to find any real reason for any such change in requirements. 

 Letters addressed to concerns so changing their dimension stock re- 

 quirements and also to large manufacturers of dimension have faUed 

 to establish any definite reason why dimension stock in larger sizes 

 should be used during the coming year than formerly. One large 

 dimension manufacturer, however, reports that for a long time he has 

 not made anything to speak of smaller than inch and a half squares, 

 and only a small amount of these. It may be that the dimension 

 consumers are finding it relatively less expensive to buy dimension 

 stock which they can rip at once to the exact required dimension than 

 to buy squares cut exactly to meet their measurements. 



The consensus of opinion, as expressed in conununications from sev- 

 eral large dimension manufacturers, indicates an extremely brisk de- 

 mand for dimension material and in most instances the communica- 

 tions stated that increasingly favorable prices are being realized on 

 dimension stock. This would indicate that the manufacture of dimen- 

 sion, as carried on by the limited number of concerns which have 

 intelligently analyzed this branch of hardwood production, has been 

 placed on the basis of a separate business, and it would further indi- 

 cate that the consumer of dimension stock has come to realize that 

 the difference in price between dimension lumber and ordinary stock 

 is considerably less than the increased cost to him of re-manufactur- 

 ing his entire stock from standard sizes of lumber. 



Reforestation 



A CAMPAIGN to effect reforestation in this country for the pur- 

 pose of providing material for the future is being agitated 

 by the National Implement and Vehicle Association, with headquar- 

 ters in Chicago. The industries which are included in the membership 

 of the association are large consumers of wood, and they are face to 

 face with a situation which they regard as serious. They are still 

 able to obtain material, but the most suitable kinds are becoming 

 scarce, and in many instances the long hauls add so much cost that 

 prices are nearly prohibitive. Different kinds of wood are brought 

 together from every part of the United States. 



The association recently addressed a letter to Gifford Pinchot, presi- 

 dent of the National Conservation Association, suggesting that the 



