42 



HARDWOOD RECORD 



fact that inquiries luc muuiij; iu more fre- 

 quently Is an liidicntiou of bettor business In 

 tlie near future, and It is on this that they 

 now base their hopes. 



George Wilson, looal manager for the lilies 

 Lumber Company, has just returned from a 

 southern trip in the Interests of his company 

 and reports deplorable conditions among the 

 camps and mills. All of the lumbermen are 

 curtailing; their output and tlie uilils are woric- 

 ing with half forces, while over half of them 

 are completely closed. "Money Is extremely 

 scarce down there at the present time," said 

 Mr. Wilson, "and in my opinion conditions are 

 far worse than they are in Wisconsin." 



Chattanooga. 



The situation umoug l\imliermcn in Chatta- 

 nooga Is bettor just now than it ha.s been since 

 the financial trouble came on. There is more 

 confidence than there wa.s four weeks ago. Lum- 

 bermen, however, believe that it is now up to 

 the banks to completely restore confidence, and 

 unless they pursue a conservative course there 

 is little likelihood that business will be what it 

 was a few months ago. 



Recently the local banks issued a statement 

 in which they showed that they have more money 

 than they have ever had, and lumbermen now 

 believe that they should get busy at once. 



While conditions are not yet what they should 

 be, lumbermen here will have a very merry 

 Christmas because of the business they have 

 done during the year. They all hope that with- 

 in the first few weeks of the new year busi- 

 ness will begin to be more active and in a short 

 time the prosperous conditions which character- 

 ized the major part of 1907 will be restored. 



The lumbermen of Chattanooga and the sur- 

 rounding section have done a big business during 

 1907. It is believed that the volume of trade 

 will not equal that of 1906, but the profits will 

 be larger. The business of 1907 was transacted 

 on a more conservative and safer liasls than 

 that of former years, and the new year will see 

 a continuance of economical and conservative 

 practices. 



St. Louis. 



There has been a little Improvement during 

 the past two weeks in hardwood conditions, 

 caused by the betterment of the financial situa- 

 tion. There is a better feeling and generall.v 

 after the first of the new year tliere ought to 

 be a noticeable increase in trade. This is assured 

 from the fact that stocks of the factories are 

 getting low and must be replenished and that 

 orders will undoubtedly he placed before long. 

 Most of the business that is being done is with 

 eastern buyers. W'estern buyers are only ordering 

 in small lots when they need lumber for immedi- 

 ate requirements. The yard people are not buy- 

 ing, as they are pretty well stocked up and are 

 not inclined to biiy until conditions become set- 

 tled. Bargains, however, are bought when of- 

 fered. This is true in ash, poplar and quartered 

 white oak. There is also more buying of walnut. 

 The plain oak market is weak and unsettled. 

 The same applies to gum. 



Nashville. 



A much better tone in the lumber market is 



noticed in the past few days in this section. 



There is a better feeling in every locality of the 



hardwood belt and things seem to be loosening 



POPI^AR 



Rough and Dressed 



SOUTHERN HARDWOODS 



M. A. HAYWARD 



1021 Saving and Trust Bldg., Columbus, O. 



11(1 a bit In a financral way. Every one seems to 

 feel as though the worst had passed and that 

 better times are due in the near future. In the 

 meanwhile the lumbermen are waiting. They are 

 not pushing anything on the market at reduced 

 prices, but are holding their slulT ratiier than 

 run the risk of demoralizing the market. 



I'oplar conllnues to be the leader in a local 

 way. Ash and hickory are still firm, however, 

 and quartered oak presents a similar condition. 

 I'lain oak is possibly in least demanil Just now 

 of the jjopular kinds of hardwoods. Local lum- 

 bermen are not looking for much business until 

 I'ebruary and will be entirely .satisfied if things 

 pick up in earnest by that lime, ilost of the 

 mills are still closed down and will hardly open 

 until things pick up a hit. 



Memphis. 



iJeuianii for luirtlwood lumliei- eunlinucs ijulet, 

 l>ut there is a general increase in inquiries. Con- 

 sumers buy in limited quantities and mixed cars 

 are still a feature. Holders are firm in their 

 ^■iews and there is little tendency toward shad- 

 ■ lug prices. The lightness of stocks In the hands 

 of producers, the recent small buying by con- 

 sumers, the decided reduction In output and the 

 passing of the financial stringency are all en- 

 louraging the trade to look for a return to nor- 

 mal conditions and are likewise preventing them 

 from sacrificing their current stock. Foreign de- 

 mand Is liglit, except for a few specialties. There 

 is some ash going into foreign cliannels, while 

 there Is also a fair demand for thin gum and 

 white oak in both plain and quarter-sawed. Pop- 

 lar is in good demand for the domestic trade and 

 prices are well maintained, owing to the decided 

 lightness of offerings. There is a moderate In- 

 quiry for Cottonwood in the higlier grades, but 

 the striking feature is the excellent demand for 

 the lower grades used in box manufacture. There 

 are very few box boards for sale and those who 

 hold these are disposed to ask stiff prices there- 

 for. White oak is moving In fair quantities in 

 both plain and quarter-sawed, but a number of 

 manufacturers state that there is not much call 

 for red oak in any grade. Cypress is offered In 

 liberal quantities and the demand Is slow. I'rices 

 are being shaded in some instances. Gum is 

 rather slow of sale, though there have been some 

 fairly large transactions during the past two or 

 three weeks. Prices are slightly easier. 



Charlotte. 



Lumber trade conditions throughout this state 

 are decidedly unfavorable. A large percentage 

 i->f the lumber mills of the state have suspended 

 operations, either wholly or partly, for the time 

 being, and unless conditions improve the first 

 of the year, further suspensions or reductions in 

 wage scales will follow. Prices have fallen gen- 

 erally in this section and things are pretty quiet. 

 It is hoped that the first of the year will bring 

 about a change of conditions for the better. 



Minneapolis. 



A sane and careful view of the situaUun In 

 the northwest gives every reason to expect an- 

 nliier good year in hardwood circles, at least a 

 continuance of high prices. At tlie present 

 time actual buying Is almost suspended, as busi- 

 ness is quiet and both factories and retail deal- 

 ers are in the struggles of an lnventor.v season. 

 In the past two years there has been demand 

 during December, but it Is not the usual thing, 

 and dealers are coming to realize that they 

 can not always expect to do an exceptional 

 business. The situation now is about normal 

 compared with ordinary years in the past. 



While demand is slow, inquiry is rather brisk 

 and there are tangible evidences that active 

 ijuying will be resumed early in January. Sev- 

 eral furniture and woodworking factories have 

 asked for prices lately and signified that they 

 Intended to place ordei*s by .lanuary 10 or about 

 Ibat time. The sasli and door iteople are more 



cautious and seem to be waiting for their own 

 demand to pick up after holidays in special 

 lines. All consumers realize, however, that 

 stocks are light all around and they do not ex- 

 pect to do much In the way of getting price 

 concessions. When tliey get ready for the lum- 

 ber they" will buy at whatever priie Is ruling. 

 Holders of l)lrch report that It is almost uni- 

 versally held at list now. Once In a while a re- 

 duced prhe Is reported on uppers. All otlier north- 

 ern hardwoods are scarce and held firmly for full 

 list. One or two dealers hurt the market re- 

 cently by low quotations on soutliern oak, but 

 the low prices are out of the market and with 

 90 per cent of the mills reported down, offerings 

 are lii-mer than ever. The retail yards are 

 not being heard from at all. just at present. 



Toledo. 



The usual lioliday quietude i)ervade« the hard- 

 wood lumber Ijusiness here at this time. Tuder 

 ordinary circumstances a depression in business 

 is anticipated at tills season, as fact<wies of all 

 kinds close down either wholly or in part to 

 make repairs and take inventory. Tills <'ondi- 

 tion Is being intensified tills year by financial 

 trouiile. 



Hardwood dealers are very liopeful of the 

 future, however, and anticipate a prosjierons 

 season next year. That there is foundation 

 for this hope is made apparent l»y the large 

 number of building contracts which have al- 

 ready been closed and on w-hich operations will 

 begin with the dawn of spring. Numerous other 

 projects are under way which mean much in the 

 way of hardwood inisiness. It would now seem 

 that nothing short of absolute financial panie 

 will be able to prevent the promised prosperity 

 of next summer in Toledo so far as the hard 

 wood business is concerned. 



Ashland, Ky. 



Itusiness Is already l>eginning to pick up a 

 little and the local dealers are sanguine that 

 with the opening of the new year the lumber 

 market will brighten up perceptiiily. Orders 

 are coming In more plentifully and there is an 

 unusual amount of building contracted for 

 which will create an active demand for build- 

 ing materials. 



Liverpool. 



The trade of this port has been much dis- 

 turbed during the last fortnight by the large 

 increase in tlie bank rate, and everything is 

 quiet. The hank rate has always a very seri- 

 ous effect on the lumber market here when 

 high, the long terms of credit (six monthsi 

 making It very awkward for dealers. This 

 caused one of the large firms here at its last 

 auction sale to offer ."i^a por cent for cash pay- 

 ments Instead of the usual 2^4 per cent. 



Mahogany, owing to the large import of In- 

 ferior and small wood, has eased off consider- 

 ably. Buyers here are very uncertain how this 

 and all other hardwoods are going. Considerable 

 difference of opinion exists as to what effect the 

 financial crisis in the States will have upon 

 prices. Shippers and brokers argue that higher 

 prices will be seen and merchants all contend 

 that we shall see a slump, but altogether It is 

 a position very difficult to sum up. A parcel 

 of hickory logs came onto the quay last week 

 and realized a fair price. Undoubtedly, how- 

 ever, if the shipper had stuck out for a higher 

 vahio he would have obtained it easily. It is 

 quite certain that very good prices will he ob- 

 tained for wood received here between now and 

 tlie end of February. Practically no stock is 

 on liand and all the large buyers are clamoring 

 for this wood. Shippers should he able to obtain 

 their own price and may be advised to send all 

 the available wood tliey can. Poplar Is weaker, 

 decidedly, and lower prices for wide stock. 

 18-inch and up. are reported. Oak Is firmer 

 than it has been in some time, but wagon oak 

 is slightly easier, several parcels having been 

 sliipped on consignment. 



