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HARDWOOD RECORD 



lumlier nnd, In fact, all raw materials than In 

 manulnctminK. Jobbing or retail lines. While 

 the business of the furniture factories nnd other 

 consumers of lumber has perhaps fallen off to 

 some extent, the loss of business has not been 

 anythln!; like as preat as In those lines of trade 

 deallnj; In raw materials, and the retailer has 

 been still better situated: In fact, we believe it 

 Is generally admilted that the closer the busi- 

 ness to the ultimate consumer, the less affected 

 It has been by the present financial stringency. 



As to the length of time it will take to re- 

 turn to the normal condition In the lumber busi- 

 ness or other trades dealing in raw materials, 

 we believe that this will be determined entirely 

 upon whether or not this condition will extend 

 to any degree to the ultimate consumer, the gen- 

 eral public. Should this occur, we fear that it 

 will take some time to return to normal con- 

 ditions, but should we escape this, through the 

 continued employment of at least a large por- 

 tion of our working people, it will not be long 

 before we are again "riding the wave of pros- 

 perity." 



It seems to us that with the great increase 

 in bank reserves and the enormous importations 

 of gold that confidence is being gr;ulually re- 

 stored and that the catastrophe that we have 

 suggested will be prevented. Yours truly, 



Jonx Dii.wicuER & Cu. 



Ciino, ILI,., Dec. 13. — Editor Hardwood Rec- 

 ORi. : We have your favor of the 12th and re- 

 plying will say that It Is our Impression that 

 business will resume its normal conditions as 

 soon as llnanclal matters reasonably adjust 

 tlicmselves. 



We are In touch with a large number of mill 

 men, who, with very few exceptions, have re- 

 solved to shut down rather than cut their tim- 

 ber at reduced prices, and It Is our opinion that 

 this curtailing of production will in a large 

 degree hold prices on a level when the demand 

 sets in as:aln. Yours truly, 



Dlxiur Mit.r, & Lumber Company, 



J. WaldBchmldt. 



East Ciiicacci, Ind., Dec. 13. — Editor Hard- 

 wood Recouu : We are in receipt of your favor 

 of the 12th asking for information regarding the 

 hardwood lumber business. Now, as we handle 

 and manufacture walnut only, we do not believe 

 we are in a position to give you any information 

 regarding the general hardwood lumber market. 

 So far as the walnut market is concerned the de- 

 mand is not as good as we w-ould like to see it, 

 and it has been very quiet with us for the past 

 few months, but we are in hopes it may pick up. 

 Yours respectfully, 



Lesu, Pkodti & Abbott Compa.ny. 



Kansas City, Mo., Dec. 13.— Editor Hardwood 

 Record : Replying to your letter of the 12th, 

 would state that we are now getting some in- 

 quiries for furniture stock for our Gleason mill, 

 which is refreshing, to say the least, inasmuch 

 as the inquiries for the past thirty days have 

 been few and far between. It seems to us as 

 though the worst is over and that business will 

 gradually return to normal conditions. The 

 probabilities are that none of us will have such 

 a trade as we have been having the past two 

 years, but hope we shall get orders enough to 

 get the mill started up within a short time and 

 continue to run it as usual. Many of the manu- 

 facturers seem to want to buy material for much 

 less than cost of manufacture. It does not seem 

 jjossible that this state of affairs could exist for 

 any length of time. Yours truly, 



Beekman Lumber Co■^tPA^■T, 



T. H. Beekman, President. 



CoLU^iBi;s, Ohio, Dec. 13. —Editor Hardwood 

 RECORD : We note your favor of tlie 12th inst. 

 and inquiry as to the hardwood conditions from 

 the point of our observation. 



It occurs to us that en account of the light 

 buying on the part of the hardwood consumers, 

 the curtailed output, and the manufacturer 

 and wholesale dealer having Ijeen able to 

 maintain their prices on the basis of what they 

 have been generally throughout the year and 

 through the stringency in the money market. 

 when the buyer conies Into the market for 

 stock, the supply will be found very much below 

 the actual demand and present prices will not 

 only be maintained but will be advanced above 

 what they were si.^ months ago. 



The manufacturer or dealer that holds on to 

 bis stock will be the one that will reap the ben- 

 efit, and by the first of March or earlier the 

 consumer that has not supplied himself will not 

 he able to secure the stock to keep his factory 

 going, except in small quantities and from people 

 who have been wise as to conditions and are 

 holdiug for still higher figures. 



Money matters here have been restored to 

 about normal conditions, with the possible ex- 

 ception of a closer scrutiny of securities. 



We look for about the same volume of busi- 

 ness for 1908 as that of 1907 and find that we 

 are not alone in this opinion. On the other 

 hand, we have had opinions expressed that were 

 pessimistic, but upon investigation find them due 

 wholly to local conditions. Very truly yours, 

 M. A. Hayward & Sons. 



Curtnlllng the output of hardwoods as well as 

 the soft woods will have a good effect on this 

 kind of trade. 1 heard a man make the re- 

 mark a few days ago that unlil recently he 

 liad never had time to read the lumber papers, 

 and the thought struck me at the time that 

 during a period like this the good, sound logic 

 in lumber papers generally has Its effect on a 

 large number of people. With kind regards, I 

 am, yours truly, .Iosepii J. Lineilan. 



Chicago, Dec. 13. — Editor Hardwood Record : 

 Referring to your favor of the 12th, the first 

 paragraph of your Inquiry covers the situation 

 better than we can express it ourselves. 

 Yours very truly, 

 EstabrookSkeele Lu.mber Company, 



T. S. Estabrook. 



Chicago, Ii-l., Dec. 13.— Editor Hardwood 

 Record : We have your request for our views 

 on the hardwood situation. Replying, we will 

 say that the conditions during the past sixty 

 days have been so unusual that I do not believe 

 we could give you anything that would be of 

 any value to your readers. 



During the past we have been operating 

 three saw mills and a factory. When the panic 

 arrived we immediately closed down two of our 

 mills, reduced our factory force to about one-third, 

 therefore reducing our output at least 60 per 

 cent. A very large per cent of the mills with 

 whom we do business are either closed down or 

 running wilh a very small force, and it is our 

 opinion that the production of hardwood during 

 the months of November and December will be 

 decreased at least 50 per cent. Whether or not 

 these mills remain closed after January 1 de- 

 pends on the extent of improvement in busi- 

 ness conditions. 



It is our opinion that the worst of the finan- 

 cial trouble is behind us and that we may ex- 

 pect improved conditions from this time on, 

 and if they should improve to an extent that 

 would justify the factories in starting up on 

 full time shortly after the first of the year, 

 there will surely be some scarce items in the 

 hardwood line during the months of March, 

 April and May. We have sold very little lumber 

 during the last thirty days, but what we have 

 sold has been at full price, and we are not yet 

 ready to cut prices, and I do not believe it will 

 be necessary to do so. Yours very truly, 



J. S. Houston & Co.. 



J. S. H. 



St. Louis, Mo., Dec. 13. — Editor IIaudwood 

 Record : Y'our . letter of 12th received. The 

 writer is a natur.al born optimist, but at pres- 

 ent is somewhat at sea as to the date of the 

 levlval of business, which we believe depends 

 largely on the date of the resumption of the 

 payment of cash by the banks. It is. however, 

 our opinion that there will not he much revival 

 (if trade during .lanuary and that prices In 

 general will range lower than during the pres- 

 ent year, or even those prevailing at present. 

 Respectfully. 

 The Eonsack Lu.MBni! Company, 



L. N. L. 



Pittsburg, Pa., Dec. 11. — Editor Hardwood 

 Record : I am in hopes that your prediction 

 of cheap money after January will be fully real- 

 ized. All of us were not so fortunate in hold- 

 ing up our banks, as you state you were in Chi- 

 cago, but it does look to me as though things 

 ought to be very much better after the first of 

 the year. While I think we will have a pretty 

 good year In 1908, I think it will be on the basis 

 of very conservative buying, much more so than 

 for several years past. I find people figuring 

 on carrying less stock for next year, buying in 

 small quantities just as they need the stock. 



Gr.^xd Rapids, Mich., Dec. 13. — Editor Hard- 

 wood Record : In reply to your favor of the 

 ]2th, we wish to say that while we do not fear 

 any great slump in prices, we must admit that 

 there is a tendency on the part of the con- 

 sumers of all kinds of hardwood lumber to be 

 very conservative in their requirements, and 

 while stocks of hardwood lumber are somewhat 

 broken, there is still a large amount of dry lum- 

 ber being offered. Our next year's business will 

 depend largely on the January furniture sales. 

 Yours truly, 



Dudley Lumber Comp.any. 



Evansville, Ixp., Dec. 13. — Editor Hardwood 

 Record: Replying to your favor of the 12th, 

 would say that the lumber stocks in our town, 

 in plain red and white oak, quartered red and 

 white oak. ash, hickory and all hardwoods are 

 very light, there being scarcely any stock at all 

 as long as six months on sticks. 



We believe that after January 1 there will be 

 a fair demand for lumber, at about the old 

 prices, as there has been very little or no price 

 cutting in our section. Very truly yours. 



May Bros., 

 Frank May. 



St. Loris, Mo.. Dec. 13.— Editor Hardwood 

 Record: In answer to yours of the 12th would 

 say that from present indications we believe the 

 financial scare is fast drawing to a close. Money 

 seems to be loosening up in the country and 

 cur collections are fair. Of course by this we 

 do not mean that they are up to what they 

 should be. A great many of our customers who 

 liave the money are keeping it in preference to 

 sending it in. 



Quite a number of traveling men made trips 

 during the la,5t thirty days, but their efforts 

 have been in vain. They have sent in very few 

 orders. We think most of the traveling men 

 are in St. Louis at the present time. 



Most of the large manufacturers In the South 

 and the dealers in the city are not making any 

 effort to push business. We do not believe 

 lumber will go any lower. All reports we get 

 from the South are to the effect that the mills 

 are nearly all shut down, logging operations 

 liave ceased and it will not be very long until 

 dry lumber will be wanted. 



Manufacturing plants have run steady and 

 have cut up large portions of their stock, which 

 must be replenished during the spring months. 



We arc under the impression that the total 

 number of feet of hardwoods held by the deal- 

 ers in St. Louis Is about normal. As a rule 

 there Is between SO.000.000 and 100,000,000 feet 

 carried here In the yards, and we do not be- 

 lieve stocks are very much less than under ordi- 

 nary circumstances. Reports show that last 

 month there was a gain in receipts over last 



