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HARDWOOD RECORD 



product can be depended upon ns to mnnufacture 

 and quality of timber, are simply holding their 

 lumber, knowing well that this slight flurry will 

 not laHt long. 



It Is claimed that 80 per cent of the hardwood 

 mills are shut down ; judging from our expe- 

 rience, business has dropped oCE about 25 per 

 cent. From these Dgures we gather that every 

 working day there Is about 05 per cent more 

 lumber being used than is manufactured. There 

 la only one conclusion- a strengthening of prices. 

 Yours very truly, 



Maisey & Dion. 



Chicago, Dec. 13. — Editor Hardwood Recobd : 

 Beplying to your letter of the 12th, asking the 

 opinion of the wholesalers in regard to the 

 hardwood situation, would say that we feel that 

 everything depends entirely upon the money mar- 

 ket. If the large number of depositors who 

 have given the banks notice of their intention 

 to withdraw their deposits really demand the 

 money at the end of the thirty and sixty day 

 notices, conditions will be even worse than they 

 have been. If, on the other hand, they have 

 recovered from their scare and find they can 

 get the money readily, a large percentage of 

 them will not want it, and the money will be 

 left with the banks and they will again soon 

 be In a position to take care of all of the legiti- 

 mate commercial business. 



Nearly every buyer of lumber has felt that 

 prices will be cheaper and has refrained from 

 buying until after he shall have taken his 

 annual. Inventory and found out where he is at. 

 This will be done about January 1, and many 

 win be surprised at the low condition of their 

 stocks ; and after the furniture exhibits, when 

 they have learned what particular kinds of 

 lumber they will need for their requirements, 

 they will immediately begin to buy. 



We feel that lumber can hardly get much lower 

 than It is just at the present time, and that 

 when buying begins in January the market 

 will readily determine business, and that as 

 conditions become normal prices will gradually 

 advance a little, but we do not believe they 

 will be as high as they were during spring and 

 summer of 1907. Yours very truly, 



R. A. HOOTON LnMBER COiUPAKT. 



Ashland, Ky., Dec. 13. — ^Editor Hardwood 

 Record : Replying to your inquiry, we beg to 

 say while our business has materially decreased 

 during the last two months, we are expecting 

 normal conditions early next year. In fact, 

 we see no reason for anyone to reduce prices in 

 order to make a sale. All the lumber possible 

 will be consumed that is on sticks. Practically 

 all the mills in this territory, so far as we 

 know, are shut down and cannot manufacture 

 at less price than they have been getting without 

 losing money, and they think it better to keep 

 standing timber than to cut it and sell at a 

 lower price if that will be necessary. There 

 will be but little manufacturing of lumber 

 down In this territory until normal conditions 

 prevail, and we expect that early in the season. 

 We are all feeling that we will have no trouble 

 In disposing of what lumber we have at prices 

 we have been heretofore getting on higher 

 grades, which is a little above list prices. 

 Yours very truly, 



Vansant, Kitchen & Co. 



BoFFALo, N. Y., Dec. 14. — Editor Hardwood 

 Record : Have your kind favor of the 12th 

 Inst., and fully agree with you as to the "pres- 

 ' lent conditions, and also believe that after 

 January 1 trade will begin to pick up some- 

 what, and no doubt improve gradually as we 

 go along. Since nearly all, or all, of the mills 

 manufacturing hardwoods have been shut down, 

 that will prevent a surplus or overproduction 

 of hardwoods, and this will prevent prices going 

 down very much. There may be a few anxious 

 ones at present who want to move some certain 

 kinds of stock which they may have a little 

 too much of, and for a short time prices may 



go off somewhat, but not very much, as no one 

 who has hardwoods can afford to cut prices very 

 much. If they do, they will be doing business 

 at a loss, which I do not think many are willing 

 to do ; and if the mills remain closed for some 

 time, say another month or two, this will do 

 away with the surplus or overproduction. 



Trusting conditions will improve and that 

 they may turn out in the near future fully to 

 our expectnllons, and thanking you for your 

 letter, I am. Very truly yours, 



A. MII.LEIR. 



Philadkli'uia, Pa., Dec. 14. — Editor Hard- 

 wood Record : In reference to the hardwood 

 situation, would say that as far as the different 

 concerns 1 am interested In are concerned, we 

 have reduced our output about one-half, as we 

 do not propose to sacrifice our stumpage. 



We understand there Is considerable hardwood 

 being offered at reduced prices, but we feel that 

 prices can be maintained, and will be, just as 

 soon as the agitators and blatherskites get 

 quieted down, as we can see no cause for this 

 business depression, only from that source. 



We find there is but a small percentage of 

 hardwood offered at lower prices, and that Is 

 from the very small concerns, and that there 

 is no accumulation of stock ; in fact, on the 

 other hand, there Is a shortage in nearly all 

 kinds of hardwood. Yours truly, 



W. M. McCormick. 



New York, N. Y., Dec. 14. — Editor Hardwood 

 Record : Your letter of the 12th at hand, ask- 

 ing for our idea as to the future outlook of the 

 hardwood situation in this market. 



It is true, as you say, that there has been 

 little price cutting, and that has been due 

 partly to the fact that in many cases the 

 reduction in price would have made no difference 

 in effecting a sale, as the financial situation here 

 has prevented most people from taking advan- 

 tage of bargains which might be offered them. 



We look to see a slight resumption in the 

 demand for lumber the latter part of January, 

 and a light trade for the rest of the year. To 

 our minds, the principal menace in business will 

 be the chance of a good many commercial fail- 

 ures during the first three months of the next 

 year. Yours truly, 



Indiana Quartered Oak Company, 



Willard Winslow, Treasurer. 



Nashville, Tenn., Dec. 12. — Editor Hardwood 

 Record : Referring to yours of the 12th, asking 

 C'Ur opinion as to the hardwood situation, will 

 state our orders for hardwoods have fallen off 

 considerably in the past three weeks ; still, we 

 are getting in a few orders. Our stock is not 

 as heavy as usual for this season of the year. 

 We don't anticipate any reduction In price, 

 especially on poplar, ash and quartered oak. 

 While there may be a few cars sold for less 

 prices in order to realize by some of the smaller 

 mills, we don't look for any general reduction, 

 especially so from the fact that 75 per cent of 

 the mills have closed down, and there will not 

 be any large stock accumulated, which will have 

 to be forced on the market In the spring. 

 Yours truly, 

 John B. Ransoji & Co., 



J. B. R. 



Columbus, Ohio, Dec. 14. — ^Editor Hardwood 

 Record : Your favor of the 12th at hand, and 

 we wish to commend you for sending out this 

 letter. We believe that if more of these were 

 sent out It would help the matter to a very 

 great extent. 



It Is our opinion that, with the exception of 

 poplar, all hardwoods will be considerably easier 

 than they have been in the last six months. 

 There was an abnormal condition existing, 

 namely, that the demand very greatly exceeded 

 the supply, and we believe that under existing 

 conditions the market will assume a more nor- 

 mal tone, and that in the long run it Is a good 



thing for both the manufacturer and the jobber. 

 There has been a tendency on the part of the 

 manufacturer to sell to anyone who would pay 

 the highest price for the stock, regardless of 

 the financial standing of the dealer, and we 

 believe from what we have been able to deduce 

 from our correspondents that some of them are 

 very sorry that they did this. 



.\s far as poplar is concerned, if there Is 

 any demand for this stock In the spring, there 

 is no question in our minds but what the price 

 will advance sharply, but the extent of the 

 demand is what is bothering us at the present 

 time. 



The bankers in this section of the country are 

 very pessimistic, which is the greatest drawback 

 that we have, and if they continue to talk 

 along this line it will have a very bad effect, 

 not only upon lumber, but everything else. 



We personally believe. In view of the fact that 

 the stocks in the hands of the retailers are low, 

 and from the fact that there will be some busi- 

 ness done, whatever conditions exist, that with 

 the curtailment of the output of hardwoods there 

 will be no great decrease in value, but that 

 prices will not be so widely divergent, and 

 that conditions will be very much better both 

 for the manufacturer and the jobber. 

 Yours truly, - 



The Powell LuiiBEH Company. 



CuAWFORDSviLLE, IND., Dcc. 14. — Editor Uabd- 

 wooD RlicoRD : Answering your favor of the 

 12th Inst., we beg to say that we closed our 

 mill one month ago, but will resume operations 

 on the ICth inst., on short hours. 



We find the business outlook slightly improved, 

 as we have occasional inquiries, most of which 

 indicate a desire to buy at less prices, but so 

 far we have refused lower prices and expect to 

 continue to do so, believing that it would be 

 better for millmen generally to curtail output 

 than to accept reduced prices at this time. 

 Trusting this answers your inquiry satisfac- 

 torily, we remain, very truly yours, 

 Montgomery Hardwood Lumber Company, 



N. M. SchoUer, Treasurer. 



New York, N. Y., Dee. 14. — Editor Hardwood 

 Record : We are in receipt of your favor of the 

 12th inst., and all noted. In regard to the 

 hardwood situation as it appears to us, would 

 state that we have received letters from our 

 buyers and also mill connections in different 

 sections, and they all state that from 60 to 75 

 per cent of the mills are closing down for the 

 next three or four months. On the other hand, 

 consumers are using up stocks on hand and buy- 

 ing very little at the present time. 



With this condition at both the producing and 

 consuming ends. It seems logical to presume that 

 when business starts up stocks will be low and 

 prices fully as high or higher than before. 

 Yours very truly, 

 Hamilton H. Salmon & Co., 

 Ralph E. Sumner, Manager. 



NiCHOLASviLLE, Ky., Dcc. 14. — Editor Hard- 

 wood Record : Referring to your communica- 

 tion of the 12th inst, October and November 

 were the best months we had this year and, 

 with the exception of two or three cars, was 

 all new business, or sales made during those 

 months. Collections have also been good. 



Expansion in some lines has been too rapid, 

 but the brakes have been applied In good time — 

 the lessons learned from recent Investigations, 

 the exposures of corruption have been as bene- 

 ficial as the removal of a cancer. 



With the underlying prosperity of the conn- 

 try and the commercial, industrial and banking 

 situation on a firmer and better foundation 

 today than it ever was, we have never taken 

 anything but an optimistic view of the present 

 situation. 



Don't talk panic : don't think panic ! 

 Yours very truly, 

 Thb Roi Lumber Company, 



G. A. Roy, President. 



