charge against it is as true today as it was then and some of them 

 might be expressed .in much stronger language. The seven items of 

 the indictment follow: 



"First: That in collisions steel cars are not immune from telescop- 

 ing and consequent loss of life of their occupants. 



"Second: That in derailment steel cars are just as prone to col- 

 lapse as wooden ears on steel underframes. 



"Third: That cost of steel car equipment is largely in excess of 

 wo9den car equijiment, without any compensating value. 



"Fourth: That the hauling of solid steel passenger trains is very 

 expensive and extravagant, constituting an absolute waste of money. 



HARDWOOD RECORD 



31 



"Fifth: That solid steel passenger trains of even a moderate num- 

 ber of cars are so heavy as to require two locomotives, one of which 

 could haul a wooden train of the same number of cars, which adds in 

 no inconsiderable degree to the dangers incurred. 



"Sixth: That steel passenger coaches have demonstrated their 

 inability to take crossovers and switches with safety when running at 

 even moderate speed. 



"Seventh: That the steel ear is rarely comfortable to the occu- 

 pants in winter and is a veritable hotbox in warm weather, and that 

 by reason of its reverberation of metal, loose joints and bolts it is a 

 nerve-racking vehicle in which to ride." 



>iyiTO:^sma!;:<av«:;5TOO^m:WiTO^'> .V^^ 



Conditions in Michigan Excellent 



Editor's Note 



The following article is the report of Chairman Bruce OAll of the market conditions (ommittee of the Michi 

 gan Hardwood Manufacturers' Association, which held its seventh annual meeting at Detroit Mich on Tuesday 

 .luly 22. The report contains mighty gratifying statements and figures from the viewpoint 'of ' the hardwood lumber- 

 men, and should be i-ead by every hardwood manufacturer and wholesaler in the country. 



It is with no little pride and pleasure that your committee 

 on market conditions submits this, its seventh annual report. 

 With all of the members of this committee, I feel with pride that 

 we have been able to serve you well; th&t you have had confidence 

 in the sincerity of the committee 's reports ; that you have used these 

 reports somewhat as a guide to manufacturing and marketing your 

 products, and that our seven years of experience have demonstrated 

 that these reports are a safe guide to the manufacturing and market- 

 ing of northern hardwood lumber. Some of the members are especially 

 proud of the fact that they have served on the conmiittee continuously 

 during the past seven years, participated in the preparation of 

 each and every report of the committee, and still enjoy your 

 confidence and support. 



It is a particular pleasure to be able to report such favorable 

 conditions at this time, not only on all kinds of hardwood lumber, 

 but on hemlock lumber also. From the standpoint of stock con- 

 ditions, they were never more favorable to the lumber producers 

 of Michigan than at present. The stock of hardwood at the 

 mills is less than it has been since 1909 and only about 88 per 

 cent of what it was a year ago. At no time during the past 

 four years has there been a surplus stock in the hands of our 

 producers. In fact, at any time for several years when there 

 have been good trade conditions, a decided shortage has soon 

 developed and prices materially advanced. Under favorable 

 trade conditions during the next year we would see the greatest 

 shortage of nortliern hardwood lumber that we have ever seen, 

 and even under very unfavorable trade conditions during the 

 next year we do not believe any material surplus would develop. 



The general stock conditions of the combined hardwoods is 

 practically true of each of the different kinds of hardwood 

 lumber, there being no accumulation of any one item. The total 

 stock of maple lumber is but eighty-nine per cent of the stock of 

 a. year ago, and the stock remaining unsold is less than twenty- 

 &v.e per cent of what it was July 1, 1912. As a large proportion 

 of the maple lumber produced is used in the manufacture of 

 maple flooring, it may not be amiss to compare present conditions 

 in that respect with the conditions of a year ago. The bulk of 

 the maple used for this purpose is 4/4 in the grades listed as 

 No. 1 common. No. 2 common, No. 1 and 2 common and No, 2 

 common and better. 



1913 shows: Total stock, 88,904,000; sold, 86;531,000. 1912 

 showed: Total stock, 108,452,000; sold, 100,311,000 or 20,000,000 

 less stock this year than last and practically all of it sold. Surely 

 the maple flooring manufacturer should not complain of a fair 

 price for maple lumber under these conditions. 



Comparing some of the other woods, this year with last, the 

 stock at the mills and the amount unsold, we find the following, 



viz.: Ash, less than 60 per cent as much stock and less than 50 

 per cent as much unsold. Basswood, 93 per cent as much stock 

 and 60 per cent as much unsold. Beech, 76 per cent as much 

 stock and 65 per cent as much unsold. Elm, 86 per cent as much 

 stock and 66 per cent as much unsold. Birch shows a very 

 slight increase both in stock and amount unsold, there bein" 

 an increase of 7 per cent in amount of stock, but Michigan is a 

 small factor in the production of birch lumber as compared with 

 Wisconsin, and the combined stocks of the two states may show 

 a reversal of form. The entire stock of birch in Michigan is 

 16,000,000 this year as against 15,000,000 last year. 



The proportion of stock at the mills and yards of the pro- 

 ducers of lumber that is covered by orders has always been con- 

 sidered to indicate fully as much regarding real market condi- 

 tions as the total amount of stock on hand. If this holds good 

 for 1913, we are in a very favorable position indeed. Our stock 

 reports show that our members have orders for 80 per cent as 

 much as total stocks on hand. This 3ame comparison for a series 

 of years shows the proportion of the total stock covered by 

 orders as follows: viz., 1913, eighty-five per cent; 1912, seventy- 

 nine per cent; 1911, seventy per cent;' 1910, sixty-five per cent; 

 1909, fifty-six per cent. Refresh your memories as to the market 

 conditions for the years named and you will find that they were 

 approximately reflected in the proportion of the stock sold. With 

 only fifteen per cent of stock on hand to market, the producers 

 of northern hardwood lumber in Michigan can afford to make 

 haste slowly and get what their product is worth. 



We have always had so much to say regarding No. 3 common 

 or low-grade hardwood lumber, that if we passed it this time 

 without saying something about it, some might look upon our 

 omission with suspicion. We have said before that No. 3 common 

 is "like the poor — always with us," also that "the smaller he 

 is, the better he looks to us." Prom this standpoint, our poor 

 relations have been real prosperous during the past year, thank 

 you, and No. 3 common is small enough to look quite attractive 

 to us. 



The stock of No. 3 common at the mills is less than it has 

 been at any time in the past six years, being only 60 per cent 

 of what it was in 1910, and comparing the proportion of stock 

 sold, conditions could not be much more favorable, there being 

 orders for nearly 90 per cent of the entire stock on hand as 

 against 70 per cent for 1912, less than 50 per cent for 1911, 

 about 46 per cent for 1910, and 40 per cent for 1909. More evi- 

 dence that the proportion of stock sold indicates market condi- 

 tions. Compare the price paid for No. 3 common when only 40 

 per cent of the stock was sold, with prices when 90 per cent of 

 it is under contract. 



Notwithstanding the excellent condition of the market for 



