flfflMwoi RocoM 



LUHj 



Published Irv tho Interest of Hcvrdwood Lumber, Ameilc&n H&rdwood Forests, Wood Verteer Industry. H&.rdwood Flooring, ' ■* ' 



HoLrdwood Interior FIrvlsh, Wood CKerrtlcei.ls, Saw Mill o.nd Woodworking Ma.ol\irtery. (i . 



Vol. XXXI. 



CHICAGO, DECEMBER 25, 1910. 



No. 5. 



Published on the lOlh and 25lh of each monlh by 



THE HARDWOOD COMPANY 



HENRY H. GIBSON, President LOUIS L. JACQUES, Sec'y and Treas. 



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

 Telephones Harrison 8086-8087-8088 

 REPRESENTATIVES 

 Eastern Territory - - Jacob Holtzman, 5254 Larcliwood Ave., Philadelphia, Pa. 



Northern Tcrritorj ... E. W. Meeker, 355 Dearborn St., Chicaeo, III . 



Southern Territory _ - - Gabriel Lipman. 355 Dearborn St.. Chicago. 111. 



TERMS OF ANNUAL SUBSCRIPTION 

 In ihe United Stales. Canada, Philippine Islands and Mexico , $2.00 

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



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

 ihe contrary are continued at our option. 



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

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



Advertising copy must be received five days in advance of 

 publication date. Advertising rates on application. 



Coming Association Meetings 



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 



A review of the year's business in hardwood production and sale 

 g», -shows that the production of the year in all varieties of hardwoods 

 g- has been somewhat less than normal. Business was in fairly good 

 ■»"• volume and prices very satisfactory for the first six months of the 

 ^ jear. During the latter part of the year there was a notable bulge 

 Ot 



O 



in high-grade poplar values and a satisfactory accretion in prices 

 obtained for both quartered and plain oak. Maple and birch also 

 showed an increased value which has been sustained durlug the entire 

 year. 



During midsummer hardwood sales dropped off to the usual dull- 

 ness, and business since has not shown an average normal strength, 

 although trade commenced to improve in October and has followed in 

 a satisfactory volume up until the last ten days, when the holiday and 

 inventory season has again caused a diminution of business. 



The wet summer in the South materially interfered with production, 

 and the output in the lower Mississippi Valley was considerably 

 restricted for several months. Prevailing illness among operators 

 also had its effect towards disseminating mill crews and decreasing 

 output. 



During the latter half of the year some few items of lumber have 

 shown a little diminution of prices, notably poplar automobile panel 

 stock, owing to decreased orders from the automobile trade, and 

 quarter-sawed oak attributable to a considerable overstock beyond 

 current demand. However, the general run of lumber values has been 

 fully maintained and in some instances shows a handsome increase 

 over a year ago. 



Eight now trade is manifestly quiet and it is expected to remain so 

 until after the first of the year. 



Tho furniture trade will not make its purchases of lumber until 

 after the January exposition sales period is passed, when it can 

 estimate the quantity of lumber that will be required. 



The railroads are still restricting orders to a marked degree, await- 

 ing the result of negotiations for higher freight rates. Many railroads 

 are employing this policy of non-purchase as a lever to influence the 

 Interstate Commerce Commission in its decisions. It is well known 

 that the m.ajority of railroads are in urgent need of ties, timber and 

 lumber supplies generally, but are placing no material orders that 

 they can possibly avoid. The steel industry, notably in the sale of 

 rails, is handicapped by the same motives. 



'Jf!.Lral building throughout the chief commercial centers of the 

 country is going on at nearly maximum tide, which results in a very 

 good trade for hardwood doors, interior finish and hardwood flooring. 



The furniture business is moderate in extent and the factories are 

 buying only for present needs, although many advance orders are 

 offered for veneers and panels on account of the low range of prices 

 asked for these commodities. 



The trade in foreign woods is normal and featureless. 



Prospects for increased and satisfactory trade for the first of the 

 }-ear arc excellent, and in spite of the slight commercial unrest that 

 still prevails, it is more than likely that, considering the manifest 

 shortage of dry stock in first hands, the accelerated prices of stumpage 

 and the prospects of increased general business, a very satisfac- 

 tory and profitable hardwood business will develop not later than 

 February 1. 



World-Wide Prosperity 



If volume of business is an evidence of prosperity there was a 

 world-wide prevalence of it during the calendar year of 1910 now 

 coming to a close, as shown by the statistics which have been gathered 

 bv the government. These figures cover all the principal nations of 

 the earth, and indicate that during the year the world's commerce 



