44 



HARDWOOD RECORD 



September 25, 1919 



Pertinent Information 



Records for Lumber Exports 



The Btatemeut of Baltimore exports of lumber and logs iu July, which 

 was made public in complete form a week ago, sbows as the outstanding 

 feature that not less than 3,311,000 feet of oak of a declared value of 

 1240,150 was sent abroad during the month, a greater quantity than has 

 perhaps ever before left the port in any one month. This fact shows 

 impressively how firm a hold the idea that Europe was in urgent need ol 

 American hardwoods and ready to take them, got upon the minds of the 

 shippers. As a matter of fact, much of this movement affected consign- 

 ment lumber, and more or less difficulty in disposing of it is apprehended. 

 Hardwood boards figure in the exhibit with 871,000 feet, of a declared 

 value of $73,977. and there are other important items on the list, which 

 bring the aggregate declared value up to $428,678, a showing that must 

 appear striking after the many lean months that have gone before. The 

 woods principally used for war purposes, such as fir and spruce, are 

 either not represented at all. or take a very subordinate place, having 

 been superseded by others that enter into the usages of peace. Just what 

 effect the warnings against further consignment shipping will have upon 

 the future foreign movement remains to be seen, but from a quantitative 

 view at least, the showing tor July is to be regardeil as eminently 

 .satisfactory. 



New Edition of Red Book 



The new semiannual edition of the Red Book is being distributed among 

 subscribers. This publication is issued by the Lumbermen's Credit Asso- 

 ciation, 608 South Dearborn street,'Chicago. The book Is compiled on a 

 plan to place the seller iu a position to know exactly the character of the 

 credit risk before making a deal. The change sheet service is the only 

 one issued twice a week — whoever gets this service gets the new names, 

 changes, failures, fires, etc., several days ahead of any other service. Of 

 course lumbermen ought to know there's a big advantage in this. 



Shipbuilding in America 



The latest figures published by the United States Shipping Board arc 

 quite satisfactory. America's rapid advance from an inconsequential place 

 among the maritime nation-s to the post of leadership in shipbuilding, was 

 not only phenomenal but is a fair augury for the permanence of its new 

 merchant marine, built under the stress of war. At the outbreak of the 

 world struggle, merchant marine construction had almost become a lost 

 art in this country. Today this nation has more shipworkers, more ship- 

 yards, more shipways, more ves-sels under construction, and Is turning 

 them out more rapidly and in greater numbers than now issue from all 

 the shipyards of all the world. 



As the premier shipbuilding nation of the world America attained her 

 place in one giant stride. Up to the outbreak of the war we had only 15 

 vessels of 1.000 tons and over engaged in oversea trade. Today the 

 American flag floats from 1,280 ocean going steamships, 1,107 of which 

 had been built within the last two years. We have 15 per cent of the 

 world's vessels and 24 per cent of the tonnage. 



Description of Skidding Metliods 



The Lidgerwood Manufacturing Company has recently distributed de- 

 scriptive catalogues of "Logging Methods for Small Holders," and "Ground 

 Skidding Methods." The catalogues are designated Bulletins No. 61 and 

 62, and each is devoted to separate problems In handling logs by the latest 

 and most improved methods. The head oQice of this company is 96 Liberty 

 street, New York. 



Building Statistics for August 



Building permits issued in 153 citie.s of the United States during the 

 month of August, as oflicially reported to The American Contractor, show 

 that building activity has forged ahead as evidenced by number and valua- 

 tion of permits taken out. July activity is exceeded, the average valua- 

 tion per city for 102 cities in July being less than $900,000, while the 

 value per city for 153 cities in August is over $1,000,000. giving a total 

 valuation of $160,947,233 for 35,535 permits issued in the latter month, 

 as against a valuation of $140,474,662 for 38,790 permits Issued In July. 



It is Interesting to note that the valuation of the individual permit 

 has Increased considerably, the average value in August being $4,534, as 

 against an average value of $3,760 for July, $3,375 for June, $2,600 for 

 May and $1,700 for January. 



Activity may be said to be spotty, but there are no defined regions 

 wherein cities show gains and where they show losses. A comparison of 

 140 cities with July records shows 83 gains for August and 57 losses. 



Important cities wherein relatively heavy gains are shown are Akron, 

 Boston, Cleveland, Des Moines, Duluth, Fort Worth, Grand Rapids, Mich., 

 Indianapoli.s, Pittsburgh, Pueblo, Seattle, Toledo, and Worcester, Mass. 



Queens is the only borough of New York showing a less valuation of 

 permits than for July. Brooklyn and Manhattan register big gains. 



Chicago, Denver, Philadelphia, South Bend, Indiana, Springfield, 111., 

 Tulsa, Okla., and Wilkes-Barre, Pa., show great recession' from July 

 valuations. 



The gain in activity over 1918 is heavier In August than It has been 

 in any preceding month. 



As shown in previous analyses of permits this gain over 1918 has been 

 constantly increasing. January showed a 12 per cent loss. The per cent 

 gains from then on are : February, 48 : JIarch, 77 ; April, 91 ; May, 110 : 

 June, 182; July, 228; August, 267. 



.V comparison of August valuations for the last six years is as follows : 

 Year. Cities. Number. Valuation. 



1919 153 35,535 $160,947,233 



1918 153 19,110 43,819,383 



1917 118 18,294 49,118,123 



1010 118 26,806 73,614,908 



1915 72 60,113,453 



1914 72 52,790,472 



In con.'^idering these figures for previous .years, it is necessary to allow 

 for the fact that $52,700,472 in 1914 would go Just about twice as far In 

 liuying brick, lumber and cement and hiring labor. It is true that more 

 cubic footage of building was called for by the permits issued In 1914 than 

 in 1919. 



Notes of National Interest 



Tbi' Federal Reserve Board's weekly bank statement, issued at the 

 r'lose of business September 12, indicates a liquidation of 110.7 millions 

 of war paper and a further gain of 51.1 millions in gold in transit or In 

 custody in foreign countries. 



Bradstreet states that, contrary to expectations, that labor unrest, strike 

 troubles, high-price agitation and all other troubles that beset the building 

 trade in August would cause a setback to activity in the direction of new 

 construction, the total expenditure permitted for in 147 cities for that 

 month was $150,583,823, which dwarfs record for July expenditure of 

 $136,743,439 and marks a gain of 249 per cent over August a year ago. 



A cable from I..ondon to the New York Times states that the Morning 

 Post, referring to the arrival of German gold in England, says that within 

 a week something like 12,000,000 pounds, chiefly in foreign gold coin, has 

 arrived. There seems to be some doubt as to whether gold remains in 

 Britain or whether part of it goes on to the United States. 



The Journal of Commerce, September 13, announces that the value of 

 the Transvaal gold output during August was approximately $15,000,000. 

 This total represents a decline. 



It Is announced from Pittsburgh to the New York Times that the pro- 

 duction of steel ingots in August was at the rate of about 80 per cent of 

 (Capacity, against a 75 per cent rate In July. The low point in production 

 was about 50 per cent the middle of May, so that there has been a rapid 

 recovery. 



Announcement comes from New Y'ork that C. M. Schwab, head of the 

 Bethlehem Steel Corporation, Intimates that the railroads of the United 

 States will need approximately 5.000,000 tons of steel rails over next 

 twelve months. 



It is announced from Boston that official tests of the first American 

 fleet submarine, formerly known as the Schley, conducted off Providence, 

 Mass., indicate that the vessel is the fastest and the most efficient craft 

 of Its kind ever constructed. 



Governors of twenty-two states on September 15 appealed to citizens 

 of the United States to advocate adoption by Congress of a national 

 budget system. Governors' In statements prepared for the National 

 Budget Committee, express fear that the present administration of finances 

 of the United States will result in national bankruptcy. 



Director General of Railroads Ilines states that the administration Is 

 handling the car supply situation in the United States energetically, and 

 that instructions have been issued to all regional directors to speed up 

 road and yard movements ; to secure heavier loading of equipment ; to 

 establish and maintain complete and accurate yard checks, and to make 

 prompt delivery to connections. He also states that every effort is being 

 made to speed up the construction of 100,000 freight cars ordered by the 

 administration last year and to place In service such of these cars as are 

 still in storage. 



In discussing the question of British finances, the American corre- 

 spondent of the London Dally News say the wealth of the United Kingdom 

 Is estimated at $85,000,000,000, with a debt of $40,000,000,000 that is 

 still Increasing. 



It is announced from New York that according to the report of the 

 .^merican Manufacturers' Export Association, Dr. Goldstein, professor 

 of political economy. University of Moscow, estimates that expenditures 

 required for Industrial and commercial rehabilitation of Russia during the 

 next ten years will amount to $56,450,000,000. 



The New Y'ork Tribune states that the daily average of strikes in the 

 United States was 364 during July and 308 during August, more than twice 

 as large as during the same period last .year. A summary from available 

 sources of information shows that production has slumped badly since 

 mid-July, while shorter hours and higher wages have not brought increased 

 output or efBciency. The American Federation of Labor estimates that 

 there are 2,000 strikes actually in progress or imminent at present. 



The house in committee of the whole September 19 eliminated from the 

 deficiency appropriation bill provisions prohibiting the attorney-general 

 from prosecuting labor organizations and farm organizations under anti- 

 trust laws. 



It is announced that the New York Tribune investigation reveals that 

 thirty-four per cent of strikes now going on are for shorter hours. 



Director General Hines states that the freight car situation is sub- 

 stantially more favorable than it was in recent years prior to the war. 



