Published In the Interest of Ha>.rdwood Lumber, AmerlcQ^n H&rdwood Forests, Wood Verveer Industry. Ha^rdv«^ood Flooring. 

 Ha.rdwood Interior Finish, Wood CKemic&Is, Sai.w Mill aLnd Woodworking Ma.chlnery. 



Lit 



Vol. XXXI. 



CHICAGO, JANUARY 25, 1911. 



No. 7. 



Published on the lOlh and 25lh of each month 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 

 Northern Territory 



Jacob Holtzman. 5254 Larctiwood Ave., Philadelphia. Pa 

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



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 

 iKe contrary are continued at our option. 



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



MICHIGAN HARDWOOD MANUFACTURERS' 

 ASSOCIATION 

 The mid-winter meeting of this association •will lie held 

 at the Pontchartrain Hotel, Detroit, Mich., on Thursday, 

 January 26, 1911. 



C. A. BIGELOW, J. C. KNOX, 



President. Secretary. 



NORTHERN HEMLOCK AND HARDWOOD MANU- 

 FACTURERS' ASSOCIATION 

 The next annual meeting of this association will be 

 held at the Hotel Pfister, Milwaukee, Wis., on Tuesday, 

 January 31, 1911, 



W. C. LANDON, R. S, KELLOGG, 



President. Secretary. 



HARDWOOD MANUFACTURERS' ASSOCIATION OF 

 THE UNITED STATES 



The ninth annual meeting of this association wOl 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 the New Willard Hotel, Washington, D. C. 



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



President. Secretary. 



General Market Conditions 



While there is no noticeable activity in hardwood trausactions thus 

 far this month, the fact cannot be gainsaid that trade is fully sea- 

 sonable. From the fact that there Mas rather an unusual heavy 

 hardwood purchasing in December, it seems to have been argued 

 on the part of many that January should start oif with large requi- 

 sitious. On the contrary, trade is just atout at a normal stagd for 

 this month and buyers are only placing orders to replenish stock for 

 current needs. 



Holders of hardwoods can expect very little trade from the fur- 

 niture manufacturers until after the close of their January sales 

 season. Reports from the two big expositions at Chicago and Grand 

 Eapids are somewhat disappointing from the fact that up to this 

 time the aggregate of sales is not equal to that of a year ago, and 

 as a consequence there will not be the immediate large demand 

 from the furniture manufacturing trade that was anticipated. These 

 manufacturers are optimistic, and believe that a larger volimie of 

 business will be secured as the season advances and that they will 

 be in the market for large quantities of lumber. 



The general building ti ude is showing but a small decline in com- 

 mercial centers and a gooj volume of business can be expected from 

 that source. 



The maple flooring manv.racturers are busy, and the oak flooring 

 trade is in a fairly satisfactory condition. 



Veneer producers report a fair volume of business, with a slight 

 accretion in price. 



Mahogany and other foreign woods remain normal. There is a 

 steady demand running into a fair volume, with no change in price. 



During the last month there has been an unusually large sale to the 

 box trade iu the coarse grades of poplar, cottouwood and some other 

 varieties of hardwoods, and a considerable quantity of low grade pine 

 has also been sold. It would look as though the box people could see 

 considerable business in sight. 



On the whole, the general hardwood situation is promising, and 

 with the advance of the year, it is fully expected there will be a 

 settling down to a good, steadv and satisfactory trade. 



The Business Prospects for the Year 



While the January business in hardwoods has not started oif with 

 the acti%'ity it did a year ago, there is nothing menacing in the sit- 

 uation. Trade is distinctly seasonable. There is little or no oppor- 

 tunity right now for jobbers or large consumers to make purchases 

 that have very much speculative value. Desirable stocks of hard- 

 woods in first hands are remarkably short and there is no evidence 

 that the quantity of lumber in shipping shape will be very much aug- 

 mented for months to come. There is very little disposition on the 

 part of manufacturers to increase output. 



It must be recalled that in the general trend of lumber values 

 covering both building woods "and hardwoods, prices are ranging 

 pretty low. As a matter of fact, the general run of lumber prices 

 has not recovered since the marked decline of 1907. 



The values on Pacific coast lumber, yellow pine, hemlock and 

 coarse grades of hardwoods are so low thai; there is no profit in 

 their manufacture. On the other hand, No. 1 common and better 

 in nearly every variety of hardwoods has shown a satisfactory ad- 

 vance in value and is growing scarcer as time progresses. 





