flaMtfol RofoM 



Published Irv the Interest of Ha.rdwood Lumber, America.n Ha^rdwood Forests, Wood Verveer Industry. He^rdwood Flooring, 

 HaLrdwood Interior Finish, Wood ChtemlcaLls, Sslw Mill &nd Woodworking Ma.cKlr\eiy. 



Vol. XXXI. 



CHICAGO, DECEMBER 10, 1910. 



No. 4. 



Published on the lOlh and 25lh of each month by 



THE HARDWOOD COMPANY 



HENRY H, GIBSON, President LOUIS L. JACQUES. Scc'y and Trcas. 



Sixth-Floor, Ellsworth Bldg.» 355 Dearborn Street, Chicago. 111. 



Telephones Harrison 8086-8087-8088 



REPRESENTATIVES 



Eastern Territory 

 Northern Territory 

 Southern Territory 



Jacob Hollzmnn, 5254 Larchwood Ave., Philadelphia. Pa. 



E. \V. Meeker, 355 Dearborn St., Chicago. Ill . 



Gabriel Lipman. 355 Dearborn St., Chicago. III. 



TERMS OF ANNUAL SUBSCRIPTION 

 In the United Stales, Canada, Philippine Islands and Mexico - $2.00 



In all other countries in Universal Postal Union .... 3.00 



Subscriptions are payable in advance, and in default of written orders to 

 the contrary are continued at our option. 



Entered as second-class mailer May 26, 1902, at the Postoffice at Chi- 

 cago, III., under act of March 3, 1879. 



Advertising copy must be received five days in advance of 

 publication dale. Advertising rates on application. 



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Coming Association Meetings 



NATIONAL VENEER & PANEL MANUFACTURERS' 

 ASSOCIATION. 



The sixth annual meeting of this association will be 

 held at the Auditorium Hotel, Chicago, 111., on Tuesday 

 and Wednesday, December 13 and 14. 



F. B. RAYMOND, E. H. DEFEBAUGH, 



President. Secretary. 



INDIANA HARDWOOD LUMBERMEN'S 

 ASSOCIATION. 



The twelfth annual meeting of this association will be 

 held at the Denison Hotel, Indianapolis, Ind., on Tuesday, 

 January 17, 1911. 



E. A. SWAIN, C. H. KRAMER, 



President. Secretary. 



HARDWOOD MANUFACTURERS' ASSOCIATION OF 

 THE UNITED STATES. 

 The ninth annual meeting of this association will be 

 held at the Sinton Hotel, Cincinnati, Ohio, on Tuesday 

 and Wednesday, January 31 and February 1, 1911. 

 R. M. CARRIER, LEWIS DOSTER, 



President. .Secretary. 



NATIONAL WHOLESALE LUMBER DEALERS' 

 ASSOCIATION. 



The nineteenth annual meeting of this association will 

 be held on Wednesday and Thursday, March 1 and 2, 1911, 

 at a place as yet undecided upon. 



R. W. HIGBIE, E. F. PERRY, 



President. Secretary. 



General Market Conditions 



Kroiii ovory hanluodil <(jiisiuiiiiit; ceiitcr ut' tlic I'luted States there 

 ■.no i'iicoiiragin}f reports i-overing current as well as prospective busi 

 iicss. Tlio volume of hardwood buying is from fair to good in nearly 

 111! districts. Inquiries are increa.sing in number, and prospects indi- 

 cate a remarkably good trade for the first of the year. 



In some quarter.s, notably among holders of stock that have no 

 regular sales organization, some concession in prices has been made 

 im a number of items during the last fortnight. This situation is 

 licing taken advantage of by jobbers who are bviying witli considerable 

 fi'c(Mloin. 



The general business situation is improving. Even stock in com- 

 panies which is not showing earnings to warrant dividends at the 

 present time, is reasonably strong, and there is no disposition on the 

 jiart of holders to sacrifice their holdings. Banking houses are showing 

 an improvement in reserves and it is prophesied that money will 

 range cheaper after the first of the year. 



It is a self-evident fact that there is no surplus of any variety of 

 liardwood in first hands at the present time, and there are many 

 indications pointing to a restricted outj)ut for the year to come. 

 Manufacturers have awakened to the fact that with the increased 

 value of stumpage, it is necessary to exploit their timber properties 

 very carefully, getting every foot possible out of the forest, and in a 

 general way to go slow in operation in order to achieve the best 

 financial result from their enterprises. 



Recent sales of northern hardwood timber have ranged as high 

 as one hundred dollars an acre, which means from eight to ten dollars 

 stumpage, and at these prices it takes rare judgment and skill to 

 show a reasonable earning on lumber operation. As a matter of fact 

 there are comparatively few of the northern operators who are 

 making niucli money in hardwoods save those who practice forest 

 rnnservation in the way of reducing their woods waste to chemical and 

 minor wood production. 



'Pill' ncirtlicrn Hooring output is normal and trade is in fair shape, 

 .■liiliipugh it is doubtful today if maple flooring manufacturers who do 

 nut contrcil stnmpagc or have old contracts for maple lumber, can 

 produce flooring at a profit from the purchase of maple lumber at 

 current prices. 



Tlic link flooring production seems to be simicwhat in excess of 

 dcMKinci, lint jirices remain firm. The furniture manufacturers are 

 <tdl Ijuying from hand to mouth to keep their plants going, and will 

 iiiit make larger pui chases until the results of the January sales season 

 :ire demonstrated. Generally they think they will have a fair to good 

 .lade, luit lo not look for an unusually large volume of business 

 111 lie piticcd in January. 



The veneer and ]ianel manufacturers are having a good volume of 

 linsiness which is being handled at prices that show but a small 

 ]ir(ifit. 



On the whole the outlook for business at remunerative prices during 

 •lie coming winter looks good, and with the paucity of stocks in 

 first hands, the prospects of a diminished output, higher values of 

 stumpage and, the general sentiment of trade, the year 1911 should 

 show a year's business conducted on conservative lines with more 

 net profit accruing to the trade than for some years in the past. 



Prevention of Forest Fires 



The ]iroblcm of minimizing forest fires is worrying many timber 

 (nvneis. The forestry depai-tment has promulgated regulations for 



