TTARDWOOD RECORD 



«.i 



what may be lacking: in actiiai business at the 

 present time is being more than made up by 

 Ihc? general belief in an exceptionaiiy good year 

 with the opening of spring. Large buyers and 

 the yards, as a general thing, are laying in a 

 very fair amount of stoolt in anticipation of 

 lug business, although it must be said that some 

 of the buyers are still holding off in a t>elief 

 that there may possibly be a little break In 

 prices. It is generally conceded, however, in 

 not only wholesale circles, but among buyers 

 who have just returned from mill poi'nts. that 

 such an attitude is a decided mistake and that 

 somebody is going to get left. To any one who 

 keeps at all in touch with market conditions at 

 sources of supply it is easily discernible that 

 there is going to be less than normal amount 

 of some of the hardwoods for the spring trade. 

 Particularly is this so of plain oak, ash. chest- 

 nut, quartered oak. and some say, basswood. 

 That this is no dream is best evidenced by the 

 fact that prices on these commodities show a 

 steady tendency to advance even during this, 

 the mid-winter season, and It is easily ap- 

 preciable that with the increased demand which 

 naturally accompanies the opening of spring 

 trade, that those dealers and buyei-s who have 

 laid in their usual supply of these kinds of 

 lumber will have a pretty good asset, and on the 

 other hand thiose who have put, off buying until 

 too late are either going to get left or have to 

 dance to the music of higher prices. In fact. 

 it has been a long time since the hardwood 

 situation looked as good as it does now to both 

 branches of the trade. 



It is not necessaril.v a good condition that 

 stocks are so short that they command enor- 

 mous prices and some buyers get left altogether, 

 nor is the present situation in such shape. It 

 is generally conceded that there is going to be 

 a fair to normal supply of hardwood lumber, but 

 the fine point in the present situation lies in 

 the fact that there is not going to be anywhere 

 near the amount of that surplus stock which 

 produces competition in the matter of selling, 

 as is invariably the case from year to year. This 

 year it is going to be a case of the buyers buy- 

 ing or leaving, and if he waits too long he will 

 have to retrace his steps and buy it at his first 

 point of contact at higher prices than were 

 first offered. He is going to get his lumber, 

 but he is going to have to pay for it. wliereas 

 ordinarily if he could not get it at one place at 

 his price he could at another, and it is just this 

 condition that is going to make the hardwood 

 trade this year more satisfactory all around to 

 both buyer and seller, as conditions at manu 

 facturing points will not allow of th.it wide 

 fluctuation in price which makes competition 

 unequal. The whole situation looks good, and 

 the metropolitan district is going to take its 

 full quota of hardwood lumber this year at 

 good prices and, like Oliver Twist, holler for 

 more. 



St. Louis. 

 Trade conditions show a steady improvement 

 which should be more rapid with the advent of 

 the milder weather. It has been now almost 

 two weeks since this city has had freezing 

 w-eather and the effect upon local trading has 

 been marked, although receipts are limited. 

 Practically all of the lumber coming In is that 

 which was delayed in transit by either the block- 

 ade at St. Louis or the cold weather south of 

 here, but another week should show results 

 from the buyers who have been sent into the 

 southern country since the milder weather be- 

 gan. All of the local people are anxious to 

 increase their stocks, especially of dry lumber, 

 but only mediocre success has attended their 

 efforts. It is possible to purchase green lumber 

 at initial points, but the dry was gobbled up 

 long ago. The report comes in from the south- 

 ern country that the weather has seriously in- 

 terfered with logging operations and that few 

 mills are finding it possible to operate. It is 



feared that there will be a repetition of the 

 expei-iences of two vears ago when there was 

 a decided curtailment of the production dur- 

 ing almost the first half of the year. It will 

 he i-emembei'ed also that this cilrtailment had a 

 wonderful effe<'t in starting prices on their 

 upwai'd jcHirney. so that the local wholesalers 

 are giving considerable thought to this phase 

 of tile situation and for this reason are mak- 

 ing every effort to contract for mill cuts and 

 to ir other ways increase their holdings. 



The demand from local factories has been 

 very pleasing during the past two weeks and 

 the country trade has also shown up in better 

 volume than at any time thus far this year. 

 Traveling salesmen report rather limited stocks 

 In the hands of consumers and express the belief 

 that there will be a heavy demand toward the 

 latter end of March. Wholesalers also believe 

 this will he true, as this month is already 

 showing excellent results. It is noticed t^at 

 upper grades are coming in for the best de- 

 mand and it has been almost exclusively on 

 these grades that prices have been advancing. 



Inch plain oak is the leader in point of de- 

 mand and promises to remain so for an indefi- 

 nite period. Xone of the local yards report 

 other than broken stocks, although they have 

 been successful in laying in considerable green 

 during the winter. With the quarter sawed 

 product the demand is best for red, but white 

 easily maintains its price supremacy and is 

 moving in fair volume. Local stocks of quar- 

 tered oak are in fair shape and should be able 

 to meet all requirements. Thick plain oak is 

 w-anted at excellent prices, but present receipts 

 are limited. 



("ottonwood and gum are attracting increased 

 attention, but are not expected to move very 

 heavily until toward the latter end of the 

 month. In cottonwood it is the upper grades 

 that are wanted, as the indications point to a 

 decreased consumption of box lumber this year 

 the same as during 1904. The gum trade 

 shows considerable promise, despite the fact 

 that the mill supply is just now rather large, 

 as all local consumers have little stock on 

 hand and will be in the market rather heavily 

 iu the near future. Poplar is the strongest on 

 upper grades, there being little demand in this 

 market for anything lower than select. Every- 

 thing in cypress Is moving freely and a high 

 basis of values is- being easily maintained. 



Pittsburg. 



The warmer weather of the past week has 

 1 hawed out the hardwood lumber market. Deal- 

 ers are getting busy and the long hoped for 

 boom in building is starting. The market shows 

 no features of special importance except the 

 increasing trade in car orders. Retail dealers 

 are beginning to stock up, but their buying has 

 not been large enough so far as to affect the 

 market noticeably. 



Poplar tends to advance, but there is no con- 

 certed action toward this as yet. Firsts and 

 seconds are now worth from $46.50 to $47. 

 f. 0. b. Pittsburg. Prices on other woods are 

 strong and there is no chance of a break oc- 

 curring soon. 



Shipments are very slow. This is due partly 

 to the extremely cold weather and partly to the 

 crowded condition at the mills where it has been 

 impossible to get stock ahead. The labor situ- 

 ation shows some improvement and the general 

 opinion is that there will he no serious tieup 

 this spring. Prospects for a good business in 

 the suburban towns are excellent. All the manu- 

 factories are starting up briskly and these re- 

 quire a large amount of lumber for additions, 

 e'tc, besides the big demand for house building 

 stuff. 



which covered Indiana then has now disap- 

 peared, weather conditions have improved but 

 little. Damp, wet weather still prevails. With- 

 out exception the dealers are exceedingly anxious 

 for the pleasant spring days to come. Then 

 they have every reason to believe that busi- 

 ness conditions will take on a decided improve- 

 ment and the hardwood lumber business will 

 start off with a rush. Already many orders for . 

 spring delivery are in and dealers are simply 

 waiting for pleasant weather so they can fill 

 them. Inquiries still continue plentiful for all 

 grades of lumber and prices are being main- 

 tained. 



Two weeks ago. indeed during the greater part 

 of February, dealers were able to get few ship- 

 ments on account of the railroads being practi- 

 cally tied up, as far as the carrying of freight 

 was concerned. The big snow, which covered 

 this section of the JFiddle West last month, 

 greatly delayed passAiger traffic and almost 

 wholly stopped the traffic in freight. As a con- 

 sequence a comparatively small amount of lum- 

 ber was moved. With the near approach of bet- 

 ter weather, however, shipments will naturally 

 become active and a good deal of lumber will 

 be shipped to the consumer. 



The mills throughout Indiana that have been 

 shut down for several weeks have been pretty 

 generally reopened. The factory wheels of the 

 furniture manufacturers are humming and fac- 

 tories are running at full blast. The factory 

 salesmen report a prosperous state of affairs 

 existing among the retailers throughout the 

 state, and large orders for furniture are being 

 placed by a goodly percentage of ^he retailers. 

 Contractors report that 1903 is bound to be a 

 splendid year for building. ITiis, then, makes 

 a most favorable outlook for a good season 

 in the hardwood lumber business. For. when 

 retailers order freely and much building is to 

 be done, business becomes good for the furni- 

 ture manufacturer, and, in turn, when the furni- 

 ture factories are busy business becomes good 

 for the hardwood lumber dealers. Hence, hard- 

 wood lumbermen are justified in claiming that 

 1905 will be a good year and productive of a 

 large volume of business. 



Cincinnati. 

 The situation here is reported healthy on all 

 sides, with increased domestic and foreign in 

 quiries, but as yet there has been no per- 

 ceptible increase in the movement. Dry stocks 

 in all hands are still small, and it is argued 

 that all signs point to higher prices in the near 

 future. Plain red and white sawed oak have 

 met a read.v sale and prices have shown r. 

 hardening tendency. Quartered sawed supplies 

 ha^-e been fully ample to the moderate demand, 

 with prices sustained on a steady basis. Cypress 

 conditions are unchanged. The same may be 

 said in regard to poplar. Cottonwood and gum 

 have been scarce and firm in consequen<'e. 



Grand Rapids. 



Market conditions have not changed material- 

 ly in the past fortnight. There is quite a 

 scarcity of thick stock in nearly all hardwoods, 

 while plain oaks, red and white, remain firm 

 with tendency upward. Michigan railroads are 

 still congested with freight and car shiiuuents 

 are provokingly slow. 



Indianapolis, 

 There has been on material change in the 

 Indianapolis hardwood lumber situation from 

 what it was two weeks ago. .\ltbough the snow 



Buffalo, 



The liardwiKjd dialers of this market appear 

 to have passed the worst of the winter block- 

 ade in good shape. They will still suffer trom 

 the slow movement of cars, but the demand 

 for practically everything they carry is good 

 and they will have no difficulty in holding their 

 prices, while it is probable that pliin uak 

 will be higher before long. The .supply is so 

 shtrt and there is so littie prospect of gain- 

 ing on it right away that if piices do not go 

 hi.iher it will be on account of the timidity 

 of some of the members of tiie trade. All re- 

 ports from the southwestern oak mills are that 



