Publlahed In the Interest of Hardwood Lumber. Amerlcikn Hardwood Forests, Wood Veneer Industry. Hardwood Flooring, 

 Hard^vood Interior Finish, Wood Chen^lcals. Saw Mill and Woodv/orhlng Machinery. 



i.lBll 



Vol. XXV. 



CHICAGO. DECEMBER 10. 1907. 



No. 4. 



Published on the lOih and 25th of each month by 



THE HARDWOOD COMPANY 



HENRY H. GIBSON. Ed.ior. EDGAR H. DEFEBAUCII. Mun.gcr. 



7th Floor. Ellsworlh Bldg.. 355 Dearborn St., Chicago, III., U.S.A. 



Telephone Harrison 4960 

 REPRESENTATIVES 



New Ycrk . . . . B. F. Unpold. 527 St. James Buildml 



PbiUdclphi. .... Jacob Hollzman, 91G Rolhschild Building 



P,lt.t>or( ...... H. A. Lane. 906 WabasK Buildint 



Cleveland ..... F. M. duller. Baldwin Hotel 



Memphia ..... H. L. Wells, 310 Tennessee TrusI BuildinB 



Nortbern Terrilory . F. H. Luce. 355 Dearborn Si., CbicaSO 



TERMS OF ANNUAL SUBSCRIPTION 



In ihe United States. Canada, Philippine Islands and Mexico . . $2.00 



In all other countries in Universal Postal Union ..... o.OO 



Subscriptions are payable in advance, and in default oE written orders tc the 

 contrary are continued at our option. 



Entered at Chicago Postoffice as Second Class Matter. 



Advertising copy tnvjst bo received five da.ys In BLdvo^rvce of 

 publication dB.te. Advertising rales on application. 



Coming Association Meetings. 



NATIONAL VENEER & PANEL MANUFACTURERS' 

 ASSOCIATION. 



The annual meeting of tWs association will be held at the 

 Auditorium Hotel, Chicago, Wednesday and Thursday, Dec. 

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

 other Important business. 



WISCONSIN HARDWOOD MANUFACTURERS. 

 The Hardwood Lumber Manufacturers of Wisconsin will 

 hold their annual meeting at Eau Claire, Jan. 15, 1908. 



INDIANA HARDWOOD LUMBERMEN'S ASSOCIATION. 

 The annual convention of the Indiana Hardwood Lumber- 

 men's Association will be held at the Grand Hotel, Indian- 

 apolis, Jan. 16, 1908. 



c 



General Market Conditions. 



Rays of sunshine seem to be penetrating the gloom of hardwood 

 conditions in every part of the country. The financial situation 

 is easing up everywhere, and mills that have been shut down for 

 weeks are now resuming operations. The wholesale manufacturing 

 trade, which has absolutely refused to place orders except for an 

 occasional tar, for six weeks past, is now buying lumber again, 

 and in many cases is placing quite liberal orders. The good sense 

 manifested in nearly all the hardwood producing sections, of cut- 

 ting down output or shutting down plants entirely, has had a most 

 beneficial effect in the maintenance of values. 



Minor sales have been made in the Chicago and otluT western 

 markets, all through the few weeks of depression, at practically 

 full list prices. The only serious price cutting that has prevailed 

 anywhere has been in the East, where in some cases small opera- 



tors have sold oak at $5 off the price that prevailed six weeks ago. 

 It is fully expected that a prompt renaissance of values will prevail 

 in that section, as it is well known that stocks of hardwood have 

 not accumulated to any appreciable extent for two months past. 

 If there is not a hard scramble for hardwood before spring, at top 

 notch prices, the Uardwood Eecord is no prophet. However, it is 

 more than likely that there will be a considerably larger stock of 

 lumber manufactured than has been anticipated for some weeks. 



Logging conditions are said to bo ideal in northern Michigan 

 and Wisconsin, and with easier money it is likely that original 

 plans will be carried out and a fair stock of northern woods put in. 

 Weather conditions usual at this time of year in the South will 

 prohibit any excess of lumber being produced either in the Missis- 

 sippi Valley region or in the mountain districts. The situation, as 

 far as supply and demand go, is excellent. 



The export trade is in far irom satisfactory shape. Stocks in 

 all the large foreign markets are ample for requirements, and it is 

 feared that an excess of consignments, always prevalent in times 

 of local depression, will cause a lowering of prices on the other 

 side of the water. 



The flooring factories are all still fairly busy. In some in- 

 stances there has been considerable accumulation of stock in ware- 

 houses, but the outlook for this branch of the hardwood business 

 is excellent. The veneer and panel manufacturers are having o.nly 

 a fair trade, and in a good many instances have cut down time to 

 eight hours a day, and some to less than six. There is compara- 

 tively little accumulation of advance orders, which probably is a 

 good thing. Sales of mahogany remain very good, and the demand 

 is fully up to the supply. 



As It Seems to Me. 



At a meeting of the Boan! of Managers of the National Hard- 

 wood Lumber Association, held a few days ago, a resolution was 

 adopted instructing inspectors of the association to inspect all lumber 

 after this date in accordance with the rules adopted at the Atlantic 

 City meeting, save in instances where proof of contract showed that 

 sales had been made previous to December 1, and under old rules — 

 when the latter would apply. 



It would seem that the abortive attempt of two or three New 

 York hardwood men to create a defection on the subject of inspection 

 has merely united practically the entire association into a determina- 

 tion to keep faith with the public. There is evidence on all hands 

 that the only objectors to the new rules are those who have not 

 familiarized themselves with them, or who have ulterior motives in 

 opposing them. 



In future, sellers of lumber, both manufacturers and jobbers, 

 should exercise particular care in the terms of their sale contrticts. 

 If they will distinctly specify that the sale is made subject to the 

 rules of either the National Hardwood Lumber Association or the 

 Hardwood Manufacturers ' Association of the United States, and that 

 in case of dispute reinspection by either of these associations shall 

 be final, they will find no difliculty in having the terms accepted and 

 acceptable to at least ninety-five per cent of all buyers. 



This hullabaloo about drastic changes in inspection rules, from a 

 minority of the New York contingent, is all tmninyrot! The rules 

 of both the big hardwood associations, in force today, are practically 



