flaMwolReaH 



Published In the Interest of Hek.rdwood Lumber, AmerlcBLn H&rdwood Forests, Wood Veneer Industry. HaLrdwood Flooring, 

 Hajdwood Interior Finish, Wood CKemlcaLls, SblW Mill &nd Woodworking Ma^cKlnexy. 



Vol. XXXI. 



CHICAGO, FEBRUARY 10, 1911. 



No. 8. 



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 - - Jacob Holtzman, 5254 Larchwood Ave., Philadelphia. Pa 



Northern Territory ... E. W, Meeker, 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 matter 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 date. Advertising rates on application. 



Coming Association Meetings 



NATIONAL ASSOCIATION OF BOX MAITUFACTURERS 

 The twelfth annual meeting of this association will be 

 held at the Gayoso Hotel, Memphis, Tenn., on Wednesday, 

 Thursday and Friday, February 15, 16 and 17. 

 C. T. Williams, E. H. DEFEBAUGH, 



President. Secretary. 



NATIONAL WHOLESAIJ! 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 WUlard Hotel, Washington, D. C. 

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



President. Secretary. 



General Market Conditions 



There has been an active resumption of buying and attempted 

 buying during the last fortnight. Jobbers and wholesale consumers 

 of hardwoods have awakened to the fact that the better grades of 

 ail varieties of hardwoods are in exceedingly short supply in first 

 hands, and have commenced a reasonably active campaign to 

 secure stock. 



It has been discovered in the Michigan and Wisconsin districts, 

 the sources of supply for maple, birch, basswood, gray elm and 

 beech, that the market is very bare. It has been demonstrated 

 beyond peradventure that unless there is a considerable reduction 

 in maple flooring production for the coming year under that pro- 

 duced in 1910, there is no possible chance of there being enough 

 J^ maple to keep the factories fully supplied with lumber. 

 ^ The market on the chief varieties of northern hardwoods is very 

 ^.strong, with a tendency of increased values. This is notably true 



CD 



of maple and birch, although the other woods produced there are 

 responding well as necessity has arisen for substitutes. 



In the big area of southern hardwood production there is a 

 manifest shortage of plain oak, both red and white, red gum and 

 Cottonwood, and poplar stocks are badly broken. During the last 

 few days, tides in the Cumberland, Kentucky and main tributaries 

 of the Ohio river have brought out a considerable run of poplar 

 logs, so that it may be expected there will be additional supplies 

 of poplar lumber available late in the spring. However, there is 

 going to be no overstock of this wood. 



While there are fair sized holdings of quarter sawed oak in some 

 localities, the totality does not constitute an overstock. Prices all 

 along the line range very firm. 



The cypress people are developing considerable yard trade at the 

 present time through a system of advertising directly to the 

 consumer, and doubtless they will find an outlet for their little 

 surplus in that direction. The cypress trade has lost a large 

 portion of its business in doors and finish during the last few 

 years, but the outlet in other directions will more than compensate 

 for this. 



Sap gum is coming into good request and without doubt will soon 

 be as short an item in the market as red gum. 



Trade in mahogany and other foreign woods is improving slightly 

 with no change in prices. 



The veneer people report a very good volume of business, but. 

 prices are still unsatisfactory. 



The flooring manufacturers in both oak and maple are having a 

 very good volume of business with a trend of increasing values. 



From the fact that building operations are being maintained 

 the country over at even a little higher range than a year ago it 

 would indicate an equally good demand for hardwoods for finish in 

 this line of distribution as was shown in the early months of 1910. 



There has been something of a revolution in furniture buying 

 developed in the recent January sales. Buyers have purchased in 

 only a moderate quantity, and evidently intend to buy from hand 

 to mouth until they can fully determine if sales will warrant 

 heavier purchases. Apparently buyers seem to figure that they are 

 going to let the manufacturer capitalize their business, insofar as 

 they are able for some months to come. The furniture manufac- 

 turers are optimistic over the prospects of disposing of a large 

 output, and during the last ten days have become pretty active 

 buyers. The furniture situation is not at all satisfactory to the 

 average manufacturer on account of the attitude of the merchants, 

 but there is every reason to believe there will be a reasonably 

 heavy volume of business and fairly good conditions as the season 

 advances. 



The trade in dimension stock, included in which is wagon 

 material, is not particularly active and prices are ranging low. A 

 good many producers of wagon material are seeking orders today 

 at prices that are not very profitable. 



There is no change in the handle situation. Undeniably the 

 market is overstocked, and as inevitable with over-production the 

 range of prices is low and unsatisfactory. 



As it is a well-known fact that a slight underproduction means 

 a firm market and there is no possibility of an over-production in 

 either northern or southern hardwoods, it goes without saying that 

 for at least some time to come the hardwood situation is going to 

 bo marked as a seller's market. 



