^i^j^m^imm^mm^mmm^^M^MWJmm^^ 



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

 Mill and Wood-working Machinery, on the lOlh and 25lh of each Month, by 



THE HARDWOOD COMPANY 



Henry H. Gibson, President 

 Louis L. Jacques, Sec'y & Treas. 



Entire Seventh Floor Ellsworth Building 

 537 So. Dearborn Street. CHICAGO 



YOI 

 ■ -■NIC, 



VoL XXXIII 



CHICAGO, OCTOBER 25, 1911 



No. 1 



ggM^K;tataKJ!OK : >iv>taM-'^M'WM^s W ' 



Editorial Comment 



General Market Conditions 



Hardwood marketing conditions in couimou and better grades have 

 shown no essential change during the last fortnight from that prevail- 

 ing for some months. The volume of business remains fair, but is 

 made up of small requisitions ; there seems to be uo buying of large 

 quantities. This condition is partially brought about by the inability 

 of sellers to furnish large amounts of lumber. Stocks of dry, good 

 hardwoods of nearly every description are notoriously short. Current 

 manufacture of hardwoods the country over is generally at a pretty 

 low ebb, and there is a manifest intention on the part of many of the 

 large producers to curtail output until tlie demand and price are in 

 a more satisfactory shape. The curtailment is being both preached 

 and practiced in most of the areas producing large quantities of 

 lumber. 



There seems to be an increased demand of late for low-grade stuff. 

 The box makers during the last fortnight in many instances have 

 placed rather generous orders, which would indicate that they can 

 see a considerable business in sight for boxes and shooks. Low-grade 

 lumber is undeniably being marketed at less than the cost of pro- 

 duction and freight, to say nothing about any stumpage value en- 

 tering into the cost. 



Cull hardwood grades in both the Xorth and South are now down 

 to the lowest price that has been obtained for them for several 

 years. Happily, stocks of low-grade lumber are now down to normal, 

 or below normal, and there surely will not be very much more bargain 

 counter stuff for some time to come. 



It is believed that the market is gradually absorbing the over- 

 stock of quarter-sawed oak with which it has been overloaded for 

 more than a j'ear, but there is going to be a letting up of increased 

 production of quarter-sawed stock for some time. The experience 

 of sawmill men who have bought high-grade oak logs at fancy 

 prices, who have tried to make money out of making quartered stock, 

 has been very disastrous for more than a year, and it is not probable 

 that any manufacturer has made a dollar out of making it. 



The inroads being made by wood substitutes are felt very severely 

 bj' manufacturers of many kinds of hardwoods, but the craze for 



"tin" furniture, doors and automobile bodies manifestly has sub- 

 sided and it is believed that wood will come back into its own logical 

 jilr.ce of distribution with increased demand before very long. There 

 is also good reason to believe th - steel car construction is proving 

 such a failure that there will be a marked increase in the demand for 

 wooden car materials. The oak people are feeling the decadence of 

 demand for wood in the furniture trade, but this is more than made 

 up in the aggregate by the increased call for red gum, which has' 

 really become a prime favorite in the construction of many lines of 

 furniture. 



It seems to be the disposition of a good many hardwood manu- 

 facturers to cease urging the sale of their lumber until after the first 

 of the year, believing that th"v will find the market very bare of 

 desirable items at that time, ' :d secure a much better price for 

 what they then have on haiic. With this idea in view a good many 

 lumber salesmen have been called off the road. 



There is nothing that in any wise looks panicky in the general 

 hardwood situation. On the contrary, manufacturers and jobbers 

 alike look on the situation with optimism. All hands are simply 

 standing pat and waiting for the good business that they know is 

 not tar in the future. 



The Meat in the Steel Car Cocoanut 



The series of articles which have appeared in Hardwood Kecord 

 in its issues of September 25, October 10 and in this number, entitled 

 ' ' Steel vs. Wooden Passenger Cars, ' ' which have been written entirely 

 without prejudice, but in an attempt to demonstrate the superiority 

 in all particulars of wooden passenger and sleeping cars built on 

 steel under frames over the ultra-modern type of all-steel construc- 

 tion, are securing the universal attention of railroad men, car builders 

 and the traveling public. 



In this movement, looking to a clear understanding of the situation 

 surrounding the incursion of steel cars on American railroads. Hard- 

 wood Eecorp has been most generously supported by publications like 

 The Literary Digest, the Chicago Inter Ocean (both of which publi- 

 cations have devoted a large amount of space in handling the text 

 and illustrations) as well as from hundreds of other leading publica- 



SUBSCRtPTION TERMS: In the Unitecl State.s and its possessions, 

 and Canada. $J.UO Uie Vfiir; in foreign lountries, $1.0U extra postage. 



In conformity with the rules of tlie postoHice department, subscrip- 

 tions are payable in advance, and in delault of written orders to the 

 contrary, are continued at our option. 



In.structions for renewal, discontinuance, or change of address, 

 should be sent one week before the date Ihey are to go into effect. 

 Both old and new addresses must be given. 



Both display and classified advertising rates furnished upon 

 application. 



Advertising copy must be received five days in advance of publica- 

 tion dates 



Telephones :— Harrison S0S6-S087-8088. 



Advertising Representatives: Jacob Holtzman, 5254 Larchwood Ave- 

 nue, I'bilailelphla, Pa. : E. W Meeker, 537 South Dearborn Street, Chi- 

 cago, 111. 



Entered as second-class matter May 26, 1902. at the postoffice at Chi 

 cago. 111., under act of March 3, 1S79 



