MMSMRoH 



Copyright, The Hardwood Company, 1922 



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

 Mill and Woodworking Machinery, on the 10th and ZSth of each jVIonth. by 



THE HARDWOOD COMPANY 



Edwin W. Meeker, Vice Pres. and Editor 

 H, F. Ake, Secretary-Treasurer 

 Llovd p. Robertson, Associate Editor 



Seventh Floor, Ellsworth Building 

 537 South Dearborn St., CHICAGO 

 Telephone: HARRISON 8087 



Vol. LIII 



CHICAGO, JUNE 10, 1922 



No. 4 



T 



General Market Conditions 



HE EXPRESSION OF THE HAEDWOOD IXDUSTEY at the 

 current writing contrasts pointedly with opinions uttered a 

 few weeks ago. Acceleration in demand for hardwood lumber has 

 brought the volume of inquiry, orders and shipments up to a point 

 which is eminently satisfactory as contrasted to conditions prevail- 

 ing even up to a month or two in the past. In connection with this 

 stimulation of interest on the part of buyers, there is, as was 

 remarked by a big operator a few days ago, a considerable measure 

 of "fuss and feathers," but nevertheless there is emerging a con- 

 stantly increasing volume of actual business definitely placed and on 

 a basis insuring reasonable satisfaction to the seller. 



As reported from certain of the large southern and northern hard- 

 wood centers, this enlarging movement has apparently affected the 

 accumulation of Number two common and, like this group, it is 

 only a question of time when the surplus Number three will also be 

 similarly touched. 



In the flooded producing region of the South the condition is 

 gradually righting itself, and in the least affected regions produc- 

 tion is gradually assuming more normal proportions. It is quite 

 likely that by the first of July a substantial volume of southern 

 output will be in effect. The necessity for making more hardwood 

 lumber seems unquestioned, as there is no reasonable basis for 

 I anticipating any further restriction of demand. It is pretty well 

 conceded that if demand continues on approximately current basis, 

 it will gracefully take care of such additional production as will be 

 effected with the receding flood waters. 



So far as demand is concerned it is gradually showing advance- 

 ment reaching new industries here and there as the weeks go by. 

 Improvement in these respective industries can not come about, 

 suddenly, but is the result of gradual accomplishment in the respect- 

 ive efforts to find a more sound footing. At present furniture is not 

 showing quite the desirable volume of purchases that had been 

 expected, though in this case, as usually happens, purveyors of 

 hardwood lumber have discounted the effects of the furniture mar- 

 kets, which, as usual, are retarding shipments. Another factor 

 which is definitely entering the situation this year has to do with 

 the recently announced reduction in freight rates, buyers in the 

 main stipulating that they shall be credited with such benefits as 

 accrue. 



It is an undeniable fact that improvement in building has prac- 

 tically reached a point of a permanent building boom, as mouthly 

 records are constantly being surpassed the country over. As meas- 



ured in terms of available building labor, the activity has reached 

 such a point that there is truly a scarcity in certain of the build- 

 ing trades, and while it is quite possible that until more complete 

 liquidation of building costs is effected this boom will not be per- 

 manent, still it will unquestionably be sustained in approximately 

 its present proportions for a number of months in the future. The 

 balance of this year will undoubtedly show a very fine record in 

 projects undertaken and completed. 



In the meantime other lines are showing improvement, the rail- 

 roads taking on substantially increased amounts of necessary 

 materials, agricultural districts recording improvement that will 

 probably be further greatly augmented when the new crop is made, 

 and altogether the situation is distinctly hopeful and favorable, 

 even though certain lines here and there may not be doing quite so 

 well as they had anticipated. 



Long Hardwood Inspection Rules War Enters a 

 New Phase 



INTENSE INTEEEST IS CEETAIN TO BE PBOVOKED 

 1 throughout the hardwood trade by the call issued by the Amer- 

 ican Hardwood Institute organization committee of the American 

 Hardwood Manufacturers' Association to the hardwood manufac- 

 turers to assemble in mass meeting and consider organizing to rep- 

 resent the hardwood interests in the program of standardization and 

 grade and tally guarantees, adopted at the recent lumber confer- 

 ence in Washington under Secretary Hoover's auspices. The call is 

 carried as an advertisement on the outside front cover and page 15 

 of this issue of Hardwood Recokd, 



The reading of this summons immediately and inescapably pro- 

 vokes the question of what is to become of the National Hardwood 

 Lumber Association and its system of National inspection? The 

 sponsors of this movement stand for the principle that "the grad- 

 ing and inspection of lumber is a function of the manuf .acturers. " 

 This is a principle expressed in a resolution adopted at the Hoover 

 conference, and is a definite part of the program which the callers 

 of the mass meeting would organize the manufacturers of hardwood 

 lumber to support. Without undertaking to say that it is so 

 intended, this principle of handling grading and inspection rules 

 is directly opposed to the National inspection system, which was 

 created and is administered jointly by manufacturers and whole- 

 salers. Thus the conclusion is inevitable that the realization of 



