THE HARDWOOD RECORD. 



19 



Market Report^ 



|*''(nifi) 



CHICAGO. 



It i.s current t;ilk aruuiul town that there 

 is fi noticeable inipruvenient in the local 

 harfhvood .situation. In other words, 

 things are beginning to tone up. and a 

 little earlier than e.xpected. There is con- 

 sideralily more movement going on than 

 durini; an.v time within the last two 

 montlis. and there are certainly more in- 

 (lUiries for stock than usual at this time 

 ■of the year. Evidently those factories that 

 buy in large quantities are 011 the eve of 

 nialviug contracts for their fall supply. 

 This class of consumers, carrying large 

 stocks as they do, have been in the mar- 

 ket only on a very light basis. Ijuying spar- 

 ingly with the idea, no doubt, that they 

 might be able to buy cheaper, but they 

 have noted isuch a slight decrease in val- 

 ues that they are willing to go ahead now. 

 }?ome are getting . started a little earlier 

 than usual, thinking, perhaps, that later 

 in the seasun the buying competition will 

 be stronger, and realizing, too, that the 

 outlook for a bunlensome supply has gone 

 glimmering. There is no doubt in minds 

 of local dealers that August, in point of 

 sales, will far exceed that of July, and 

 possibly as good as any preceding month 

 in the year. 



In a certain sense this state of affairs 

 cannot be ascribed to local causes. The 

 reason for the strength of values and 

 this early activity iu Chicago lies in the 

 general prosperous condition of the agii- 

 cnltural districts of the West and the great 

 Northwest. The crop prospect in this sec- 

 tion is tlie most promising in many years 

 and prices on all grain products are higher 

 than usual. The large railway systems of 

 the Northwest are encouraging emigration 

 and each settler makes a bit more business 

 for all classes of manufacturing industries, 

 particularly those located in Chicago and 

 surrounding territory, since a big portion 

 of their business comes from the West and 

 Northwest. 



Quartered white oak in comm m and 

 firsts and seconds regained its equilibrium 

 early in the year and has maintained its 

 standing right up to the present time. 

 There is and has been throughout the sum- 

 mer a good, .steady demand, especially in 

 1-inch stock. There is no particular change 

 to be n(jted now. except, perhaps, a little 

 more scarcity in available dry stocks and 

 a little more sliow of activity. There is 

 no question as to its stability, and by some 

 it is thought there will lie ;in advance in 

 price. 

 Plain 1-inch red (;ak, both in common and 



firsts and seconds, is in guod, strong ilc- 

 maud, and why it is that there is price- 

 cutting on this stock in this market is not 

 ascertainable. The demand is e.xcellent, 

 there are ready takers for all dry stock 

 offered, and yet there is a range in price, 

 and quoted to firms whose requirements 

 are known to be as rigid as the rtUes al- 

 low, of $5 per M. feet on firsts and seconds 

 and $3 per M. feet on common. However, 

 it is due to say that there is only a little 

 offered at the minimum price, but .iust the 

 same it affects the market 



There is probably not such a noticeable 

 range in price on any other wood. Quota- 

 tions on poplar, cottonwcjod and basswood 

 on a set .standard of grading are all within 

 reach of one another. There are poplar pro- 

 ducers, and to a smaller extent basswood 

 and Cottonwood producers, that quote their 

 product beyond the average price. Init t'le 

 intrinsic value of their stocks levels the 

 difference iu price. 



Northern hardwoods are sharing in the 

 general strength of the market, though 

 hardly to the extent that is due them. The 

 best seller and the more stable product of 

 pny of the Michigan hardwoods- is maple. 

 There has been a steady growth iu demand 

 and a slow but sure advance in price for 

 maple since the first of the year. Its 

 standing was without question enhanced 

 through the efforts of the Michigan maple 

 Comi7any, which handles in the neighbor- 

 hood of 75 per cent of the maple product 

 in Michigan. 



On the whole, it can be stated, so far 

 as this market is concerned, that there is 

 some slight improvement in trade over that 

 of .July, and the prediction that a bri,-k 

 fall trade will ensue is l)eginning to lie 

 realized already. 



CINCINNATI. 

 Cincinnati. ().. August 5, 1902. 

 The local lumbermen s'eem to l>e pretty 

 well satisfied with the lumber situation 

 as it is. They will all admit that trade 

 is not ae brisk as it has been, but they 

 claim that business is better right now 

 than it has been for years during tlie 

 corresponding period. Trade has been very 

 good for the past few month*' and the 

 slight relaxation felt now is not entirely 

 unwelcome to some of the dealers wlio 

 want a little breathing spell before the 

 fall trade opens. Inquiries are steadily 

 coming in and sales are not so hard to 

 effect. Prices on almost all of the hard- 

 woods are good and firm, and no decline 

 is looked for or expected. In fact, a 



slight advance may be expectetl. Dry 

 stocks in all woods) are still exceedingly 

 scarce and no relief appears to be in sight 

 for some time to come, as the demand 

 seems to be equal to the outinit and stock 

 is not accumulating as is customary at this 

 time of the year. 



The local yards are very busy and the 

 builders are bus'ier than they have ever 

 been. The manufacturers are still running 

 on full time and prospects are very bright 

 for large business this fall. 



The export trade is steadily improving 

 and does not seem to l)e effected by the 

 summer months; iu fact, export shipments 

 were few and far between before the ad- 

 vent of the summer months. Gum lum- 

 ber s'eems to be most fa\ored by the ex- 

 porters, although oak also is meeting with 

 good demand. Walnut lumber always was 

 good exporting stock and is still sustain- 

 ing its reputation. 



-\t present writing several barges of Cot- 

 tonwood are being unloaded at the river 

 front. Jlore of these barges have been 

 unloaded here this year than ever before 

 and the demand is still ay heavy now as 

 it was at auy time during the year. An 

 enormous amount of cottonwood has been 

 consumed during the past few months and 

 great inroads have been made in dry 

 stocks and next fall the box manufactur- 

 ers will have great difficult.v supplying 

 their needs in box common Cottonwood. 

 First and seconds Cottonwood is also on- 

 joying a good demand, and prices' are 

 climbing. Jiill cull cottonwood, along witJi 

 the other grades of this wood, is en,ioyuig 

 great prosperity. It is being used for 

 crating stock and for such purposes is 

 meeting with good demand. 



It is not very surprising that gum lum- 

 ber, also, is in great demand, because 

 this wood is adapted to the same uses as 

 cottonwood and poplar, and in view of 

 the scarcity of the former and the high 

 prices of the latter a gr.od demand is only 

 natural. Resawed No. 3 common gum is 

 in good demand for crating stock. First 

 and seconds red gum is advancing in price. 

 The expoit trade has taken up this wood 

 and a good demand is noticed in all thick- 

 nesses. No. 1 common has' fallen eff 

 slightly, a'lthotigh it still has a fair call. 



.A_lthough oak lumber is still in good 

 demand, a slight falling off has been 

 noticed in all grades, particularly in plain 

 sawed lumber. Quartered white oak is 

 easy sale in first and s'econds. Quartered 

 red is sought after mostly in the common 

 grade. No. 2 cimmon is quiet and there 



