24 



HARDWOOD RECORD 



has been nine per cent greater than 1909, reaching between fourteen 

 and fifteen billion dollars' worth of exports and more than sixteen 

 billion dollars' worth of imports. All signs point to a higher record 

 in exports and imports than ever before made. 



The data upon which the calculation has been made is official and 

 shows the actual volume of commerce during from six to ten months 

 of the calendar year. Using a monthly average obtained from these 

 official reports, the Bureau of Statistics has made estimates of the 

 import and export trade of the principal countries for the year. It 

 is interesting to note that during the year the average monthly impor- 

 tations of the leading countries have been: 



1910. 1909. 



United Kingdom $2(ir.,S33.000 ,$244,500,000 ' 



(iermanv 179.,'-jU0.000 172,750,000 



I'nitpd States 129„''>00,0l)0 119,500,000 



[."■[u"e 103,250,000 97,333,000 



Bcl"ium " 62,500,000 50,500,000 



It,,rv 49,000,00(1 4.S, 250,000 



Austria-Hungiiry 45,250,0110 43,750,000 



Kussia iu Europe 40,500.000 32.500,000 



Ciinada 36,500,000 28,750.000 



,lai)an (monthly average) 19,200,000 17,000,000 



A study of exports discloses that the average monthly shipments 

 by the leading nations have in 1910 exceeded those of 1909. It is 

 found that the Tfnited Kingdom showed an average of $172,333,000 

 per month in 1910, against $151,.500,000 in 1909; Germany $150,- 

 500,000 per month in 1910, against $132,000,000; the United States 

 $}43,000,000, against $136,000,000, and India $55,000,000, against 

 $45,250,000. 



The Coffin and Casket Industry 



statistics recently gathered by the coffin and easlcet industry 

 indicate that the current annual production is approximately two 

 hundred thousand coffins and caskets in excess of consumption. 

 This industry is peculiar in the respect that sales can not be forced 

 or augmented. The demand is standard and fixed, and a coffin is an 

 article of purchase that is made but once. 



This surplus in coffins and caskets over the consumption has been 

 gradually augmented for some years, and it is somewhat remarkable 

 that manufacturers continue to produce such an excess over require- 

 ments. It may be noted that there are fashions prevailing in coffins 

 as well as in most other articles of merchandise, and the new pat- 

 terns take precedence in sale over the old ones.. Eight now the 

 average coffin manufacturer has his warehouse well stocked up with 

 goods, a considerable portion of which are antiquated and of slow 

 sale. 



Today in the United States there are approximately one hundred 

 and seventy five comprehensive factories manufacturing coffins and 

 caskets and innumerable small shops beside. Under the present 

 condition of the industry there is no excuse for the establishment 

 of additional factories, for if the experienced and expert manu- 

 facturers at present engaged in this enterprise can not make good 

 returns on their investment, it is a poor time for amateurs to attempt 

 becoming competitors. 



Lumber Credit Reports 



The RECOr.D is in reccijit of a comnimiicjatiou from a prominent 

 hardwood producer as follows: 



"I believe the time is propitious for a campaign of education in 

 the matter of credits, as we are evidently entering upon another era 

 of prosperity in the lumber business, so far as the influx of orders 

 means prosperity. Such times, liowever, usually see plentiful orders 

 accompanied by plentiful loKses, if credits are not carefully watched, 

 and usually one loss leads to another and another in an endless chain, 

 just as a boy starts the first brick in a row to see it cause the 

 others to topple over in succession. 



"The various credit reporting agencies give responses to their 

 inquiries .just as received, and some of these responses are often 

 amusing, if not instructive. They are usually so conflicting that in 

 the end the subscriber is just about as well informed as to the 

 standing or credit of a firm about which it has inquired as it was 

 before making the intuirv. To illustrate, I quote one amongst many 



responses received regarding the credit of a certain firm: 'Slowr 

 pay; meet their notes promptly; do not settle according to agree- 

 ment; do not accept inspection rules, and make claims upon grade 

 and amount of lumber invoiced: claims have also been made for 

 shortage, grades and discounts that were unreasonable; do not con- 

 sider them a good risk and willing to extend them credit for $G00. "■ 

 The credit man making such a report as the above deserves to lose 

 his job as well as his money, and I think some publicity given this 

 matter in the trade journals might awaken sufficient interest to cause 

 \arious firms interested to make to their credit reporting agencies 

 more careful and intelligent responses." 



Undeniably there is much truth in the criticism the writer makes on 

 the subject of the unintelligent manner in which many of the 

 leading commercial agencies make their reports on credits. The 

 citation may be somewhat exceptional, but in reviews of scores of 

 reports they are more often found obscure, incomplete and unsatis- 

 factory than otherwise. 



The average ability employed in passing on the commercial stand- 

 ing of concerns is much lower than it should be. It is possible that 

 commercial agencies do not charge enough to warrant them in securing 

 talent that is competent to make intelligent reports, and if that be 

 true, it would be wiser to secure a larger price for their work and 

 give clients a service to which they are entitled. 



It is notorious that commercial reporters command salaries that 

 would be scorned by a third class bookkeeper. This probably is 

 the reason why several of the lumber associations are maintaining 

 their own credit departments, which are handling this work in a more 

 intelligent manner than do the old-time credit organizations. 



The Veneer Meeting 



At the recent annual meeting of the National Veneer & Panel 

 Manufacturers' Association the paramount subject that came under 

 discussion was manufacturing cost. It is apparent that the majority 

 of the veneer manufacturers have awakened to the fact that they 

 have been fooling themselves for a long time on the cost proposi- 

 tion. A very elaborate and accurate S3'stem of cost accounting has 

 been worked out by several members and it will be taken up by 

 otliers. 



Progress of the Rate Inquiry 



The last of the witnesses for railroads and sliippers that testified 

 before the interstate Commerce Commission were heard on December 

 1, when the taking of testimony iu the rate controversy came to an 

 end. From then on the investigation has been confined to the presen- 

 tation of botli sides of the case by the representing attorneys, together 

 with expert advice which may be required. With the conclusion of 

 the examination of witnesses, both sides feel optimistic as to the 

 results. The railroads feel satisfied that they have proven that 

 without the proposed advance in rates they will not be able to suc- 

 cessfully finance extensions, while the shippers, on the other hand, 

 think that while the railroads may have proven this question satis- 

 factorily to themselves, it is not piroven to the Interstate Commerce 

 Commission. 



On the other hand, there is a pessimistic element among the ship- 

 pers which is inclined to view the outcome as dubious. WhUe they 

 are confident that they have proven tjieir case, they contend that the 

 commission is favorably inclined toward the railroads, and would be 

 apt to grant a substantial increase in spite of the evidence. They 

 question Chairman Knapp 's sincerity in his expressions of disinter- 

 estedness, and some of them even make the charge that one member of 

 the commission showed himself prejudiced in favor of the roads and 

 urged his withdrawal. 



The numerous witnesses testifying in favor of the roads were 

 presented to show that operating expenses had increased tremendously 

 in the last few years, principally on account of the higher cost 

 of material and the advancement in wages. They endeavored to 

 demonstrate that without the desired raises they would be unable to 

 make contemplated extensions and improvements, and would find it 

 awkward to finance their future business. 



