July 10. 1SI19 



HARDWOOD RECORD 



39 



Will Hold Regional Conferences 



D. T. Mason of San Frinicisc. lias h.-cn apijciiiti'd by tlu> Bureau of 

 Internal Revenue as timber valuation exiiert. an.l he is soon to tour tbe 

 country to hold meetings with timber owners and discuss the valuation 

 of timber holdings for purposes of taxation. This tour will begin about 

 September 1. The questionnaire is now in course of preparation, and the 

 conferences will follow not less than two weeks after the receipt of the 

 ,|uestionnaire by the taxpayer. The officials of the Treasury Department 

 will be accompanied by a representative of the National Lumber Manu- 

 facturers' Association. The tentative itinerary for a period of approxi- 

 mately 45 days beginning probably in September, is as follows : Bangor. 

 Me ■ Albany, N. Y. ; Detroit, Mich. ; Milwauliee, Wis. ; St. Paul, Minn. : 

 Spol^ane, Wash. ; Seattle, Wash. ; Portland, Ore. ; San Francisco, Cal. ; 

 Kansas City, Mo. ; Houston, Tex. ; New Orleans, La. ; Memphis, Tenn. ; St. 

 Louis, Mc; Cincinnati, O. ; Asheville, N. C. ; Jacksonville, Fla. ; Nor- 

 folk. Va. 



Lumber Committee Appointed 



From June IS to June 28 a meeting was held in Washington, D. C, be- 

 tween the lumber section of the Bureau of Internal Revenue and a con- 

 ference committee representing the National Lumber Manufacturers' As- 

 sociation, to discuss matters related to the valuation of timber. Following 

 is a list of those who took part in the conference, which devoted much of 

 the time at the conference to the questionnaire soon to be sent to timber 

 ,,wners by the Bureau of Internal Revenue: R. B. Goodman, Goodman. 

 Wis chairman : J. H. Callan, D. T. Mason, Chas. E. Boggs. Carl. M. 

 Stevens E B Tanner, L. C. Boyle, all of Washington, D. C. ; Wilson 

 Compton Chicago ; F. R. Gadd, C. B. Weakley, Memphis, Tenn. ; Landon 

 C Bell Columbus, O. ; C. Stowell Smith, San Francisco, Cal. ; C. A. Bige- 

 low Bay City Mich.; G. L. Hume, Suffolk, Va. ; F. S. Spiuill, Norfolk. 

 Va '■ George H. Holt, Oconto, Wis. ; Stiles W. Burr, St. Paul. Minn. ; H. 

 Oldenburg, Carlton, Minn. : J. D. Tennant, R. T. Demsey, Kansas City, 

 Mo • Jesse Andrews, Houston, Tex. ; R. M. Rickey, New Orleans, La. ; H. 

 B Hewes, Jeanerette, La.; C. G. Robinson, New Orleans, La.; C. D. 

 Jloore Seattle. Wash.; E. T. Allen, Portland. Ore.; Frank L. Bell, New 

 York, 'n. Y. ; V. G. Kellogg. Newton Falls, N. V. ; II. R. Weaver, New 

 York. X. Y.; Robert Ash. Washington. D. C. 



Slow Reconstruction Work in France 



Commercial Attache Snow who is located in Paris, has warned the 

 American people that the work of reconstruction in France must neces- 

 sarily be slow, at least in the initial stages. He says that it should not 

 be forgotten that reconstruction was not something that could be deter- 

 mined upon, financed, and set in motion without a moment's delay. This 

 reconstruction work has progressed much more slowly than a good many 

 \merican business men had anticipated. It was found that in many lines 

 in France just as at home, the shelves, instead of being bare, were pretty 

 well stocked bv foresighted buyers, who had anticipated even more diffi- 

 culty in getting goods in another year of war and had loaded up while 

 they had a chance. In the face of this, many dealers have allowed their 

 early optimism to swing into dark pessimism, but the latter is now no 

 more warranted than the over-optimism of six months ago. France needs 

 the American market for its exports and France needs American goods, 

 and trade relations between the two countries should be better, and not 

 worse. 



Northern Hemlock and Hardwood 



The Northern Hemlock and Hardwood Manufacturers' Association, on 

 June S sent out the following statistical information ; 



We have tabulated below the amount of stocks on hand ,'» ."i*;'' J""'' 

 on March 1 and the amount shown by our June stock report showing the 

 .lecreases which have taken place. The figures in round numbers aie as 



''""'"^'''- March First June First Decrease 



Feet Feet Feet 



i,„„i, „i, LSOOOOOOO 106,000,000 74.000.000 



li™^""' :;:::::;:::: 70,000 ooo 6o;ooo,ooo i?-?;";-';"!' 



Bl^ood •;;::;: 26:600,000 .5,100,000 i.g -0 



R-;k Elm il^'^^OOO S:ioo;oOO 2,:^00,000 



mrd M^Dle : '. '. : ■- Tlioon 000 57 500,000 13,500.000 



Oak ::'.:::'.'.'..y.....' iisooiooo 900,000 600,000 



'The production of lumber in this territory is, "o* *''i?«''^S ^^^'^fleJ^ 

 decreases as compared with a year ago; namely, about 14 per cent les. 



""Beg'i'nninrthe first of July, this association will "^ represented in the 

 weekly cut and shipment report issued by the National Luml>er Manul%vc 

 turer.s' Association and our first report will show for the «eek endin,;^ 

 July 7, that hemlock production is about one-halt of norma f f tl"^^ .*™, 

 of the year and that shipments are exceeding current production. Oideis 

 seem to run at about twice the production for the week. 



Timber Under the Revenue Law 



The secretary of the National Lumber Manufacturers' Association, Dr. 

 Compton, has summarized the position of timber properties under the 

 revenue law of 1918, as follows: 



If a taxpayer in the lumlier business is entitled to the increase in value 

 of his timber" investment, above original cost, in order to place him upon a 

 basis of equality with other taxpayers and taxpayers in other industries, 



'""ui'^'Report the invested capital as including the '«'>• "Jf'";* .^'f'^Vtva' 

 timber assets, notwithstanding the contrary provision of tlie .idraimstia 

 five regulations of the Treasury Department, stajing speclhcall^ m tne 

 return that this has been done. _ - .,, , ,.„,.!,><, in 



(b) Claim relief from the general provisions of the law coxeiin^ in 



/WHEN YOU«; 

 NEED 



WRITE US 



HanAxircrorL 

 ZxumJbtJh, Oak 



l534Aotm>tArM;6iwn- O/^^. CHICAGO 



American Trading Co. CcSZ\^) 

 Imported and Domestic Hardwoods 



PHILIPPINE MAHOGANY TEAK COCOBOLO (Rosewood) 



CENTRAL AMER. MAHOGANY IRONBARK SPANISH CEDAR 



GENIZERO MAHOGANY CAL. LAUREL LIGNUM VITAE 



And Numerous Other Varieties 



244 California St. SAN FRANCISCO, CALIFORNIA 



WE ARE BUYERS 



of all kinds of Cooperage, Box Shooks and Hardwoods 



WHAT HAVE YOU TO SELL? 

 W. R. Grace & Co. Siutin^New Orleans, La. 



FOR PROMPT SHIPMENT 



HRV H.\KD ,M.41'I.K 



KOM 14/4 No. 1 C*B 



500 M 4/4. . No. i Common 



75 M 5/4 . . . No. ;i Common 

 300 M 6/4 . . .No. 3 Common 



80 M 8/4. . .No. 3 Common 



B.\.SS«OOD (Dr.v) 



KKI M 4/4 Full Log Run 



.SOFT ELM (Dry) 

 47 M 6/4 No. 2 C«B 



.■\SH (Dry) 

 HO M 5/4. . . No. 3 Common 



BIKCH (Dry) 

 80 .>! 5/4 .... No. 3 Common 



East Jordan Lumber Co. 



Manufacturers 

 IMPERIAL Made Flooring 



East Jordan, Michigan 



MISSISSIPPI HARDWOOD CO. 



FORT WORTH, TEXAS 



Manufacturer of 



BEST SOUTHERN HARDWOODS 



Specializing in 



GOOD OAK and GUM 



Particularly anxious to show you 

 our method of giving quick service 



'RITE" Us A Line 



vested capital, as provided under sections 327 and 328, the so-cuUcil 



(c) Report invested capital in accordance with Treasury Regulations 

 45 with request for abatement of excess unlawfull.v exacted thereby. 



'(d) Pay tax as computed iu (c) and sue for recovery of excess uulaw- 

 fullv exacted, such excess being the amount by which the tax actually 

 oaiii exceeds that which would have lieen paid had the increase in fair 

 market value of tangible assets been admitted to invested capital. 



If under the law. a lumber manufacturer or owner of timber propertie.s 

 is entitled to relief, he should claim it. Otherwise the industry as a 

 whole, as well as himself, individually, may be subjected to an unequal 

 and disproportionate tax burden which would place the industry as a 

 whole at a disadvantage in competition with other industries which are 

 less severely taxed under this law. 



