a6 



tbrougli the Amprltan news agencies of the 

 flnaocial crisis and want of money on this side, 

 which would have a tendency towards depression 

 in prices. 



We think the news as cabled over has greatly 

 cxagKcrated the facts, and that ere long the 

 markets will resume their normal condition, as 

 without doubt we tind good lumber scarce and 

 dfar. Yours truly, 



John L. Ai-cock & Cn. 



St. Francis, Akk., Dec. 17.— Kdltor Hard- 

 wood Kecord: In reply to .vour inquiry of the 

 12th we wil! say In the hardwood lumber market 

 we arc optimists, believins the limited produc- 

 tion of hardwood lumber will .soon change the 

 situation from a buyer's to a seller's market, 

 and that when the change comes it will bring 

 higher prices than obtained last October. 



In this locality the cut of all the mills for 

 October, November and December will not ex- 

 ceed 40 per cent ot normal. 



As a rule, sawmill men are not cutting prices, 

 preferring to bold their lumber until a strong 

 seller's market is established. 



Our neighbors as well as ourselves have a good 

 supply of logs, but many of them will remain 

 inactive until spring or next fall, when prices 

 will probably be 10 per cent higher than they 

 were last October. A careful study of the law 

 ol supply and demand in the hardwood lum- 

 ber world surely indicates that prices are now 

 lower th.in they ever will be again. It will take 

 no combine to boost them, as we are now fac- 

 ing early exhaustion of our hardwood forests. 



We have spent many months hunting for 

 timber tracts in Missouri, Arkansas. Mississippi, 

 Louisiana and Tex.is, and are convinced that the 

 government and other estimates of our stand- 

 ing timber are altogether too large. 



We strongly commend you for your able ad- 

 vocacy of establishing larger forest reserves. 



In our opinion the manufacturers should con- 

 tinue the present policy of limited production 

 until buyers recognize the real value of hard- 

 wood lumber. 



Our advice to buyers is to buy quickly and as 

 much as you can carry, for, in spite of steadily 

 advancing prices for years, there has been a 

 steady decline in production with a steadily in- 

 creasing demand. 



Our optimistic views are supported by the 

 facts, that during the last week we have received 

 more inquiries than we did during the preceding 

 month and that one buyer for a northern manu- 

 facturing plant called on us a couple of days 

 ago hunting for IVi-inch cypress, stating that 

 he had spent a week in southeastern Missouri 

 and northeastern Arkansas trying to buy a few 

 carloads at October prices and failed. Our ex- 

 perience of the last few days indicates an im- 

 proving market. Yours truly. 



The p. & S. LcsiBER Company. 



Crawfoedsville, Ixd., Dec. 13. — Editor Hard- 

 wood Record : Referring to your favor of the 

 12tb, we do not expect to see prices go any 

 lower but rather stiffen up a little by spring at 

 least. Nearly ail the price cutting that has 

 been done has been by the more Irresponsible 

 parties that had to have the money and have 

 it quick, and who have gone to firms in the 

 trade centers and said, "Here, I know I can't 

 get what this stock is worth, but sell it for 

 me and do the best you can." Most of this stock 

 is cleared up by now. What is left is mostly 

 in the hands of the more legitimate dealers who 

 have shown very little inclination towards price 

 cutting. This with the fact that the production 

 is actually curtailed at least GO per cent — even 

 very little logging being done — points towards 

 firm prices and a great scarcity of dry stocks 

 in the spring. Yours very truly, 



S. Bdkkholdeb Lumber Compa.ny. 



HARDWOOD RECORD 



will state that the present financial flurry has 

 not Intcrfcrred with us, except from the fact 

 that collections were somewhat slow. We are 

 still running our mill and making shipments 

 the same as ever. Our shipments, however, 

 are all lumber sold last spring, ami at full list ; 

 therefore we have not been injured at all. I'rices 

 are off somewhat, but we are seeking no new 

 business at these prices, nor shall we, as we 

 cannot complete present contracts under six 

 months. 



We cannot speak for others, for we are op- 

 erating independently, and are therefore not in 

 position to state how our neighbors are affected. 

 Y'ours truly, 

 Gibson Cypress Llmber Cojitanv, Ltd. 



East Cambridge, Mass., Dec. 17. — Editor 

 Hardwood Uecord : Your favor of the 12th in- 

 stant received, and in reply would say that we 

 simply feel that the eastern market is going to 

 be all right after the first of the year. While 

 we have found some little cutting in prices, we 

 have felt that this is only temporary and caused 

 almost entirely through necessity of turning 

 stocks to get money owing to the financial con- 

 dition. We cannot see anything on a basis of 

 stocks in hand that will cause any lasting lower- 

 ing of prices, and feel that prices after the first 

 of the year will be fully maintained on their 

 old basis. Conditions in the East are growing 

 stronger every day ; there is a better feeling 

 today than there was yesterday, and there will 

 be a better feeling tomorrow than there is to- 

 day. In fact, people are fast getting their cour- 

 age back. The general feeling is that business 

 is going to be done perhaps on a somewhat 

 smaller basis, but on a healthier one than here- 

 tofore. Our stocks are fully up to our average 

 supply and we feel that they are worth 100 cents 

 on fue dollar. Yours truly, 



John M. Woods & Co. 



Ev.anstille, Ind., Dec. 18. — Editor Hardwood 

 Uecord : This will acknowledge receipt of your 

 favor of 12th inst. relative to the hardwood 

 situation, and we note with pleasure your opti- 

 mistic expressions. 



Will state that, while we were not in position 

 to close down our mill owing to the heavy stock 

 of logs on hand, we have withdrawn from the 

 market and made no endeavor to push our sales 

 department, from the fact that there were no 

 orders to be had without heavy sacrifice, either 

 in prices or special requirements. 



Will state that we have business booked to 

 move immediately alter January 1, and that in- 

 quiries are heavier. It is the writer's opinion 

 that the lumber market will suffer some reduc- 

 tion, but not so much as other commodities. 

 Whenever the bankers will allow, business will 

 resume its normal proportions, as it is not for 

 the want of business that people are withhold- 

 ing their orders but the fear of the bankers' 

 attitude toward the business man and manufac- 

 turer. 



We believe that the bankers are regaining 

 confidence in themselves and that the natural 

 results will be shortly attained. Yours truly, 

 Tho.'vipsox, Thayer & McCowen, 



G. O. Worland. 



Gibson, La., Dee. 16. — Editor Hardwood 

 Record : Answering yours of the 12th inst. 

 with reference to our opinion of the hardwood 

 gituation as it stands at the present writing. 



Wasioto. Ky., Dec. 17. — Editor Hardwood 

 Record : Referring to your request for our views 

 on the hardwood situation, would say that we 

 are not very familiar with any wood except 

 poplar. Since tlie crisis in New York, busi- 

 ness seems to have dropped completely and 

 very little poplar has been moving in this coun- 

 try, but recently we can see considerable increase 

 in the number of inquiries that w-e are receiv- 

 ing and things are looking much better, es- 

 pecially in poplar. We have had orders enough 

 booked to keep us busy during the trouble, but 

 this has been largely export business. We have 

 fully reached the conclusion that we will be 

 able to maintain 1907 prices for poplar, or even 

 i)etter, not that we look for business to be so 

 very active but on account of the growing 



sacrclty of the wood. We have no fears but 

 what there will be sufficient demand to use all 

 of the wood that will be manufactured. Of our 

 own knowledge we know that several concerns 

 Ihat have heretofore been heavy handlers of pop- 

 lar will not be in the market much more. 

 Very truly, 



T. J. ASHEB & Sons. 



New York, X. Y., Dec. 17.— Editor Hardwood 

 Record : You ask my opinion of the condition 

 of the hardwood trade in the East, and say you 

 "believe the backbone of the financial scare Is 

 broken," and business, especially the hardwood 

 business, will very soon resume normal condi- 

 tions. " I wish. Brother (ilbson, I could think 

 so. I have in the last sixty days been in eight 

 different states and observed much of the con- 

 dition of the lumber trade. 



I'rom the sawmill end I do not believe 60 

 per cent of the usual amount of hardwood lum- 

 ber will be produced in the next twelve months, 

 and I should be greatly surprised if more than 

 60 per cent of the usual amount of business 

 woiuld be done by the consumer and wholesaler 

 during that period ; i. e., I believe the supply 

 will not be greater than the demand. It will be 

 a "hand to mouth" trade, and the people who 

 have dry stock will be able to dispose of it, 

 I think, at about the prevailing prices of to- 

 day. 



The consumers are not complaining of the price 

 or the quality but of lack of orders. The furni- 

 ture factories are not going to use more than 

 50 per cent as much lumber as they used last 

 year. The carriage, automobile, piano and other 

 manufacturing lines are in about the same fix. 



To my mind the proper thing is to limit the 

 production as much as possible. But the sawmill 

 man who enters the year 1909 with a good stock 

 ot dry hardwoods is going to reap a harvest, as 

 I believe there will be a big demand at good 

 prices. 



I think the months of January and February 

 are going to be dull and a good many of the 

 weak brethren are going to be weeded out. This 

 is the most crucial time of the year for pay- 

 ments and is considered a time when balances 

 must be struck ic all businesses. 



We can hardly give lumber away today ; it 

 is not a matter of price — they simply do not 

 want it at any price, and it is folly to put 

 lumber on the market under such conditions. 

 Personally I am not trying to sell any stock. 

 If Inquiries and orders come in I take them and 

 am very thankful to get them. 

 Yours veny truly, 



C. W. Manning. 



Saginaw, W. S., Mich., Dec. 18. — Editor 

 Hardwood Record : Replying to your letter of 

 December 12 would say that in the last thirty 

 days we have been able to secure very little 

 new business, but we have not cut prices any in 

 order to try and obtain any, as our stocks are 

 all good and dry and we feel as though we will 

 have no trouble in disposing of same after the 

 beginning of the new year, as we believe that 

 few manufacturers are very heavily loaded up 

 with stock, and that if they are going to con- 

 tinue doing business they will have to have stock 

 to work with. 



Of course, the financial stringency has affected 

 the lumber interests as it has every other line 

 of business, but our particular point here has 

 been more or less favored in that respect, as 

 we know that our banks have been able to fur- 

 nish money to carry on all legitimate business, 

 which has been a very material help to the 

 lumber business as well as other lines of trade. 



We do not know of anything more we can 

 say in regard to this matter at this time. 

 Yours truly, 

 McCobmick-Hay Lumber Company. 



Stearns, Ky., Dee. 18. — Editor Hardwood 

 Record : While business with us at present is 

 slow, we know from observation in this immedl- 



