40 



HARDWOOD RECORD 



that a Dinrked decline will occur. Some trouble 

 Is expei'ienood with the car slioitage, but less 

 than was expected. It had been feared that the 

 n.tanclal stringency would make it difficult to 

 make collections, luil comparatively little dlf- 

 fleulty has been encountered, and obligations arc 

 being met as a rule with fair promptness. The 

 export trade is more or less affected by the 

 large stocks sent over earlier in the year and 

 by the existing differences concerning measure- 

 ment. 



Pittsburg. 



In geneial rillsliur^' hardwood tirnis are saw- 

 ing wood and keeping their mouths shut. I'.y 

 the former they are enabled to get a fair amount 

 of business and by the latter they help to allay 

 the damaging gossip of the idlemonger who Is 

 <loing more than anyone else at present to hurt 

 business and tinauce. The wholesalers have 

 abundant faith in the outcome of the present 

 depression and do not believe that it will last 

 longer than the first of the year. Those con- 

 cerns which are keeping their men on the road 

 and are trying every other way to get business 

 arc getting It, although, unfortunately. It is 

 not all ready cash trade. Collections are slow 

 «nd pa.vVolls hard to meet. Very few mills cou- 

 trolled by I'ittsburg Interests have so far shut 

 down, and most of these have been yellow pine 

 and hemlock operations. The hardwood plants, 

 especially the small mills throughout West Vir- 

 ginia. I'enusylvania and Ohio, are running full 

 and many of them have enough Oi'dcrs to keep 

 them going until February 1. 



Prices remain steady. There are no cuts of 

 consequence reported such as harass the whole- 

 salers in the pine and hemlock business. The 

 inquiries for hardwood indicate that many Orms 

 are In a decided hurry for their lumbt"r. and 

 this encourages the belief that in many sources 

 daylight is already beginning to break through 

 the lin.inciiil clouds. 



Buffalo. 



The tinamial situation is the only dltBculty 

 of the hardwood dealer, who is speculating over 

 the turn of tlie money market more than he is 

 over the question of supply and demand, for 

 when that Is right side up again, there will be 

 an awakening of trade all along the line. Mill 

 owners are not trying to force the market and 

 bring out a lot of stock, which is a wise policy. 



A number of liardwood mills in the South 

 have shut down because they could unt get 

 money. 



The mills owned or controlled by ISuft'alo 

 dealers are running : they had logs and money 

 and they will run moderately at present and see 

 how the situation shapes. If the financial 

 trouble rights itself at once, as it seems likely 

 to, they will have a stock on hand to put on the 

 market at full prices. 



Bay City and Saginaw. 



I'.usiui'ss conditions are believed to be better 

 in this vicinity than in many other locations. 

 The temporary financial flurry has not driven a 

 single concern into embarrassment, the banks 

 have taken fairly good care of the payrolls and 

 not many checks are made to do the duty of 

 i-urrency. The woodworking industries have all 

 had business enough to keep the wheels turning. 



The trouble, however, is just now affecting 

 future business. The demand for lumber has 

 declined and manufacturers and dealers are wait- 

 ing for a turn of affairs. Very little trading Is 

 going on just now and lumbermen are taking 

 care of back orders. There is nothing to say as 

 to prices or the condition of the market, for the 

 reason that no buying of consequence is being 

 done. All predict an early resumption of pros- 

 perous trade, at a little lower level perhaps, but 

 confidence is strong that things will be satis- 

 factory before long. 



Columbus. 



Trade in hardwoods in Columbus and vicinity 

 shows but little change from a fortnight back. 



There is a noticeable tendency toward more lib- 

 eral buying, however, which will undoubtedly in- 

 crease rapidly as the financial situation clears 

 up. Hardwood dealers report better orders and 

 fewer cancellations tiian several days ago. Prices 

 are firm on the whole and belter conditions are 

 looked for in the near future. 



The firmest item in the hardwood market is 

 poplar, which sells readily at well maintained 

 prices. Oak is stronger, especially quartered. 

 Cypress Is firm and little change is noticed in 

 the other lines. 



As the winter approaches the car shortage be- 

 comes worse. Shipments have been delayed to 

 a large extent, although some sections are better 

 supplied Willi cars than a few weeks ago. The 

 southern roads generally are in bad shape and 

 little hope for improvement in the future is held 

 out by the railroad agents. 



Boston. 



'i'he market for hardwood lumber is in peculiar 

 condition. Stocks in consumers' hands are small 

 and owing to the present money stringency buy- 

 ers are holding their purchasers down to just 

 as small lots as possible ; in fact, several manu- 

 facturing consumers have notified their buyers to 

 stay out of the market unless absolutely obliged 

 to buy. This falling off in demand has not 

 affected prices to any extent. Salesmen for lead- 

 ing hardw'ood houses who have come in from 

 the road within ten days state that they found 

 business very unsatisfactory. One large con- 

 sumer who has been working his plant day and 

 night has now shut down to day work only and 

 is getting out only such orders as he feels abso- 

 lutely obliged to. This consumer has large or- 

 ders on hand but finds it difficult to get money 

 to carry on his business. His collections are 

 small and banks are not anxious to renew loans. 

 The tendency of the banks in this section is 

 toward getting their customers to reduce their 

 loans rather than increase them. 



Offerings of plain oak arc large. All manu- 

 facturers of oak lumber have been getting out 

 plain oak rather than quartered, and the result 

 is that offerings of the latter are small. White 

 ash is in a little better offering and prices are 

 not as stiff as a few weeks ago. Brown ash is 

 firmly held and offeriugs are small. There is a 

 fair call for hasswood, but dealers are finding 

 it dilficult to obtain supplies. Maple flooring is 

 in moderate call, and it is reported on good au- 

 thority that prices are being cut in some quar- 

 ters. 



Bristol, Va.-Tenn. 



The lumber business in Bristol and this sec- 

 tion is holding up surprisingly well. I.,ocal con- 

 cerns are receiving orders, and, while the busi- 

 ness is probably not all that might be desired, 

 it is far from unfavorable. 



The car supply is somewhat better and this 

 is contributed to ameliorate conditions consider- 

 ably. 



Nearly all the mills in this section are in 

 operation, though one or two of the larger ones 

 may take advantage of the present slight dull- 

 ness to close down a few days this month for 

 repairs. The yards are fairly well stocked, 

 though there is a scarcity of some kinds of 

 lumber, particularly poplar, which has had a 

 lieavy call for the past few months. Prices on 

 oak are slightly better and the demand is stiff- 

 ening. 



Cincinnati. 

 The demand for hardwoods during the last two 

 weeks has been limited. The money stringency 

 has curtailed the demand a great deal, and 

 large orders are very scarce. The quota of stock 

 on hand is larger than one month ago, for the 

 reason that the receipts of lumber have been 

 greater than the shipments. Poplar and oak 

 have not received a cut in prices, but such items 

 as hickory, mahogany, Cottonwood, chestnut and 

 gum have experienced a slight depreciation. 

 Walnut has fallen off in demand, but dealers 

 here will not make concessions in prices. The 

 mills here are not turning out as much lumber 



as they did a month ago, and shorter hours are | 

 evident at all of them. There Is no change 

 expected in the situation until after the first of 

 the year, when It is hoped that the monetary 

 situation will be settled, and then the demand 

 will gradually pick up. Several local dealer! 

 have received notices to cancel orders for future 

 shipment, as the consumers are unable to get 

 the necessary cash to pay for the goods. 



St. Louis. 



There has been little change in the market 

 conditions during the past two weeks. Business 

 is very dull. Little buying Is being done by 

 refailers — only enough to satisfy pressing de- 

 mands. A number of orders placed previous to 

 the financial strlngenc have been cancelled. 

 .Manufacturers are fairly well stocked with hard- 

 wood, but with increased trade these stocks will 

 soon be taken up. 



Thick oak in high grades is in good demand 

 at excellent prices, but there is no call <«• Inch 

 stock. There is a market for 1 '/j a<ii 2-inch 

 cypress selects, but in some cases concessions 

 of from ?2 to $3 have been made. Inch cypress 

 is not wanted. High-grade ash of 2, 2 1^, 3 and 

 4-Inch thickness is a good seller. There is no 

 market for gum. CottonwcKjd receipts are ligb'. 

 but there is no demand for it. 



Memphis. 



Demand for hardwood lumber is rather quiet, 

 but the trade is disposed to be more optimistic 

 as a result of the government taking measures 

 to relieve the financial situation. There are few 

 new orders coming in and a few cancellations 

 are reported. There is no material change In 

 prices and the trade liere does not look for 

 any. Kxport business is of small proportions, 

 though there have been some fair slili)ments late- 

 ly of red gum and other hardwood lumber. 



Cottonwood holds a heaithj- position and some 

 of the larger manufacturers here express the 

 conviction that there will be no decline in 

 prices. There is not much ash for sale, but the 

 market for this shows very little snap. Prices, 

 however, are well maintained. There is a fair 

 demand for oak in all grades and descriptions. 

 l*oplar is firm as to prices and offerings are 

 light. There is not a great demand at present 

 but holders of this wood believe they will be 

 able to get their prices and are not disposed 

 to place it on the market at anything except 

 full value. There is only .a moderate amount 

 of cypress for sale here, but there appears to 

 be no particular pressure on the part of hold- 

 ers to dispose of their stock. Gum is perhaps 

 the weakest item on the entire list, but it is 

 expected that the shutting down of so many of 

 the smaller mills which produce a large pro- 

 portion of gum will have the effect of prevent- 

 ing a further decline in this lumber. 



Minneapolis. 



The general halt in business occasioned by 

 the financial situation has had its effect on 

 trade in the Northwest. Uetaii yards are not 

 buying, but are reducing their stocks to a low 

 point and turning them into cash, being unwill- 

 ing to incur further obligations now, and satis- 

 fled that they can buy to just as good advantage 

 later on. The same may be said of the factory 

 trade, which is taking a car occasionally as it 

 is actually needed, but is doing nothing to pro- 

 vide for future wants. At the same time there 

 Is every indication that the usual amount of 

 hardwood will be consumed in this section dur- 

 ing the winter. The factories are in good shape 



POPL.AR 



Rough and Dressed 



SOUTHERN HARDWOODS 



M. A. HAYWARD 



1021 Saving and Trust Bldg., Columbus. 0. 



