Publtfth«d In the Interest of Hardwood Lumber, American Hardw^ood Forests, Wood Veneer Industry, H&rd'wood Flooring, 

 Hardwood Interior Finish, Wood Chemicals. Saw Mill and Woodworhlng Machinery. 



Vol. XXV. 



CHICAGO. NOVEMBER 25. 1907. 



No. 3. 



' LIOR, 



NEW ' 

 =BOTA^ 



Published on the 10th and 25th of each month by 



THE HARDWOOD COMPANY 



HENRY H. GIBSON, Edi.or. EDGAR H. DEFEBAUGH. Man.jcr. 



7th Floor, Ellsworth Bldg.. 355 Dearborn St., Chicago, 111.. U.S.A. 



Telephone Harrison 4960 



New Ycrit 



Pk>tsd«lphia 

 Ptiisburs 

 Cleveland 

 Memptiis 

 Norlh«rn Territory 



REPRESENTATIVES 



B. F. Lippold, 5?7 St. James Buitdinff 



Jacob Hollzman, 91b Rothschild Building 



H. A. Lane. 906 Wabash Buildina 



F. M. Clutter. Baldwin Hole! 



H. L. Wells, 310 Tennessee Trust Buildiotf 



F. H. Luce. 355 Dearborn Si., Chicaso 



TERMS OF ANNUAL SUBSCRIPTION 



In the United States, Canada. Phihppine 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 tc the 

 contrary are continued at our option. 



Entered at Chicago Postofhce as Second Class Matter. 



Advertlslrtg copy must be received five d&ys irv a.dv&.r\c6 of 

 publication da^te. Advertislrvg rates on applicatiorv. 



Coming Association Meetings. 



NORTHWESTERN HARDWOOD LUMBERMEN'S 

 ASSOCIATION. 



The annual convention of this association will be held 

 at Carting's Uptown Restaurant, St. Paul, Minn., Tuesday, 

 Dec. 3. The business meeting will be called at 3 p. m., 

 to be followed by a banquet at 6 o'clock and a theater 

 party at 8:15. 



NATIONAL -VENEER & PANEL MANUFACTURERS' 

 ASSOCIATION. 



The annual meeting of this association will be held at the 

 Auditorium Hotel, Chicago, Wednesday and Thursday, Dec. 

 18 and 19, for the election of officers and the transaction of 

 other important business. 



General Market Conditions. 



The last two weeks have witnessed one of the most reinarkalilc 

 situations ever known in hardwood lumber history. The financial 

 flurn,' with the interruption of banking facilities, cominff unex- 

 pectedly as it did, put the average hardwood lumberman the country 

 over practically out of business for the time being. Prom a fairly 

 good demand, business dropped to practically nothing. Salesmen 

 who a month ago were securing orders for million-foet lots down 

 ^ fo twenty or thirty cars a week, report that their sales dropped 

 Qf^ to two to five cars a week, and that nearly every customer to whom 

 *" they had made preWous sales demanded that shipments be withheld 

 "^ until further advices. 



^ ■ However, the striking feature of the situation is the fact that in 

 spite of this interruption of business, there has been scarcely a seller 

 who has attempted to force sales by cutting prices, hs has been done 

 in all other perieds of financial depression. Hardwood lumber of all 



varieties is as strong in market price today as it was a month ago. (-^ , 

 Yellow poplar exhibits remarkable strength, and so does the good 

 cud of both plain and quartered oak and Cottonwood. The general 

 run of northern woods stands up well, and if there is any weakness 

 in any line it is in the common grades of birch and gum. 



When this financial mix-up occurred hardwood stocks were some- 

 what below normal in quantity, and with the almost immediate cessa- 

 tion of production by either absolute shut-down or diminution of 

 production, which has amounted in the aggregate to well toward 

 fifty per cent, the hardwood market has been most excellently con- 

 served. In this connection a good deal of credit should be given tp 

 the energetic handling of the situation by the officers of the Hard- 

 wood Manufacturers' Association. From the start this organization 

 advised the reduction of output to a marked degree, and the members 

 responded almost to a man. In the Ohio river, Kentucky and West 

 Virginia districts reports to the association show a reduction of 

 seventy-eight j)0r cent, the plants to keep down the output either 

 indefinitely or from one to three months. The Ohio and Indiana 

 liardwood mills show a reduction of twenty-five per cent. The St. 

 Louis and Memphis district, in which there was practically a general 

 shut-down, show a reduction of eighty-nine per cent. Eastern Ten- 

 nessee and western North Carolina district shows a reduction of 

 about seventy-five per cent. Wisconsin and Michigan show a cur- 

 tailment from normal of twenty-five per cent. This magnificent con- 

 certed action on the part of producers has undeniably saved the day 

 for hardwood values. 



With the better financial conditions, which are gaining strength 

 every day, there surely will be a recurrence of demand for hardwoods 

 that will require every variety of stock that is in sight today, and 

 prices will surely be maintained up to the present standard. 



On the whole the hardwood trade has probably suffered less from 

 this approach to a "panic" than has nearly any other line of manu- 

 facture, all of which should be a matter of congratulation to the 

 trade at large. 



The Handle Association. 



As recounted in the news columns of the 1I.\rd\voou Record, the 

 handle manufacturers of the country have taken up the working 

 out of better conditions in the industry in a very logical way. Lead- 

 ing handle producers have decided that the just way to accomplish 

 this result is to organize and interchange opinions and information 

 covering every detail of their business — securing wood supplies, 

 finesse of manufacture, methods of grading and marketing stock. 

 This spirit of practical fraternalism was manifest in every speech 

 and action taken by the association at its recent meeting. It goes 

 without saying that with a continuation of this spirit mighty good 

 work can be prophesied for the Handle Manufacturers' Association 

 of America. 



The secretary will promptly take up securing and collating, con- 

 fidentially, every detail of business information that will be of value 

 to all, and disseminating it to each member of the organization in 

 the form of a general and impersonal report. A special committee, 

 cooperating with the secretary, will carefully analyze the matter of 

 actual cost of manufacture, and make this a basis of true market 

 values which every variety of handle production should justly bring. 

 The largest element to join tlie association thus far is the hickory 



