HARDWOOD RECORD 



49 



Boston. 



Wliile not :ilile to report any uittlcriiil increase 

 In the ilemnnd for Iinrilwood luinbor it is safe 

 to say that a more optimistic feeling is In evt- 

 tlemc. Several of the large tlealers In Hoston 

 stale they look for a large volume of business 

 before long. As usual Xew I-^ngland buyers are 

 slower to respond to the easier money situation. 

 It Is the consensus of opinion that those buy- 

 ers who take advantage of present prices will 

 not regret it later when the demand becomes 

 iictive. Manufacturers of hardwood lumber have 

 not been piling -up desirable stock to any extent. 

 When the demand fell off the production was. 

 curtailed. This tends to keep prices fairly steady, 

 but as Is always the case during a dull period, 

 holders can be found who will sacrifice profits 

 If by doing so they can turn tlwir stm^k into 

 cash. 



The stock-taking i)eriod is practically over 

 and buyers know what grades are in small hold- 

 ing. Buying to replehish Is in progress in a 

 small way. Large manufacturing consumers 

 are still under curtailment, but are buying a lit- 

 tle more freely. A retail lumber dealer said 

 this week that his stocks were small and that he 

 thought the present was a good time to buy. 

 Cedar is in fair demand. It is predicted that 

 the cut will be smaller this year and that this 

 will be reflected in a higher market for this 

 wood. 



Mahogany Is selling. A strong call for veneers 

 is reported. Quartered oak is not in large of- 

 fering, still prices In a few Instances are weak 

 as compared with a few months ago. A scale of 

 one Inch has been made in this market as low as 

 $75, hut asking prices of the best stock range 

 from 579 to ?83. Plain oak is still in rather 

 free offering. Quite a little has been taken for 

 export of late. Whitewood has not declined to 

 the extent that some other lines have. Desir- 

 able stock is not in large offering. Ash is well 

 held. 



New York. 



Conditions during the past forlnight have 

 shown an unquestionable improvement along sev- 

 eral lines. There is still conservatism in pur- 

 cha.ses which continue to be confined in general 

 to actual needs, but a most encouraging feature 

 is that, notwithstanding this hand tomouth buy- 

 ing, there is but very little tendency to force 

 sales or to crowd the market. This conservatism 

 on the part of holders of hardwoods, together 

 with the reduction in outi)Ut at mill points, is 

 holding the market very firm. 



Stocks are by no means large in the local yard 

 trade, while manufacturers are sailing very close 

 to the wind, so that even a slight increase in 

 general demand will be felt materially In the 

 matter of limited supplies in the wholesale mar- 

 ket. In oak there is sufficient plain stock to sat- 

 isfy the present demand, but there does not seem 

 to be any surplus. Quartered oak Is holding its 

 own and is not overplentlful. Supplies of oak 

 timber do not appear to be in excess of the de- 

 mand and are being consumed up to production. 

 Maple is slow, but chestnut is firm c>n decreased 

 i>fferings. Ash is very firm ;in<l Ibc balance of 

 the list is holding up well. 



Philadelphia. 



There Is a more hopeful feeling discernible in 

 the hardwood market at this lime than a fort. 

 night ago, and although business still continues 

 comparatively dull, lnc|Uirk's arc beginning to 

 come In more lively, and more orders are being 

 booked. The recent failures in the South and 

 West have nattirally bad n depressing effect 

 upon trade and It Is deplored that the banks 

 are not a little more lenient with their clients 

 at this time, as many cannot stand the pressure 

 of present business conditions. Reports com- 

 ing In, however, that present embarrassments 

 are tindoubtedly only temporary, will have a 

 good effect. Although It is the average feel- 

 ing that trading will resume a near apiiroach 

 to old activity in the spring, and that 1!>08 will 



see a healthy business, it is believed that con- 

 servatism will be the rule In buying, and that 

 considerable exertion will be necessary to get 

 orders. Iteports coming in from all sides that 

 the large Industries which were obliged to lay 

 off men are taking them on again, although 

 with the compromise of shorter hours, are en- 

 <ouraglng news for business. The furniture fac- 

 tories of eastern Pennsylvania are fairly active, 

 but are cautious buyers ; yardmen are engaged 

 in filling up vacant corners. 



Cigar box makers, after a practical standstill 

 of a few weeks, report a decided Improvement 

 all along the line. 



Although stocks at mill centers are not over, 

 plentiful, there has been some fluttering In val- 

 ues on certain grades, caused by the forcing of 

 the market by some few small men, who were 

 not willing to wait for better prices : on the 

 whole, however, good stock holds steady and 

 the best posted hardwood men are not forcing 

 their goods, as they feel reasonably sure that as 

 soon as trading becomes active, values will climb 

 to normal position. 



Baltimoie. 



The hardwood situation as yet shows no prom- 

 ised changes, though firms and corporations have 

 once more gotten down to the ordinary business 

 routine and now keep an eye oijen for orders. 

 These latter are still comparatively few in num- 

 ber, but the yardmen are being compelled to enter 

 the market by the depletion of tlieir stocks. The 

 policy of providing only for immediate wants is 

 still pursued to a large extent, but these wants 

 are now pi'cssing and the wholesalers are called 

 on to suijply them, the effect of the demand being 

 immediate. No heavy accumulations are to be 

 found at the mills and any increase in the in- 

 quiry is likely to be reflected at once in the quo- 

 tations, which are comparatively easy at the 

 present time, especially in the lower grades of 

 oak, with respect to which marked quiet lias pre- 

 vailed. The supply of firsts and seconds is hardly 

 ever in excess of the demand and as a result 

 prices rule firm, but the other divisions of the 

 oak trade are at limes less satisfactory, which has 

 been the case of late in the absence of a spirited 

 demand from abroad, that would have induced 

 the millmen to turn much of the low grade slock 

 into heavy planks. The quiet on the other side 

 of the Atlanlic has caused a decline In prices, 

 said by some slilppers to be equal to $5 per l,OtKI 

 feet, and as the range of values In the domestic 

 market is relatively firmer, while various stcam- 

 sliip lines have put up the freight rates, ex- 

 porters are able to do little and must wait until 

 the foreign buyers are willing to pay more or 

 the rates drop. Ash and other woods also show 

 little activity and values are generally easy. 

 Poplar is the one exception, which has been and 

 continues to be in comparatively good demand, 

 anil the lower grades sell as well as the high 

 quality lumber. Itox makers and other takers 

 of commons are still buying with relative free- 

 dciiu and the mills are able lo disiiose of their 

 hoidincs wllbout dlfliculty. Plants arc gradually 

 resuming and Ilie outlook seems lo Improve. 



Pittsburg. 

 If every Inquiry would develop into an order 

 there would be Joy In abundance In Greater 

 Pittsburg lumber circles. Actual orders arc 

 scarce and mighty hard to land. Shipments arc 

 few and far between on new business. Old or- 

 ders that hung over from the good old times arc 

 about used up and It is a question of getting 

 new business now or not doing anything. The 

 malls of the past ten days have brought much 

 encouragement to wholesalers in the shape of 

 imiulrles showing that the market Is steadily 

 broadening and that large buyers are beginning 

 to take sloik of their need.s. While there Is 

 much price cutting In evidence. It is chiefly 

 among the soft woods for the hardwood men In 

 general are able to get their quotations If they 

 bold out. It Is evident that the flrms which arc 



putting out requisitions now arc fixing up the 

 market in all possible ways to get the best fig- 

 ures for the best lumber. This Is making the 

 taking of orders slow and tedious, but they are 

 l>eglnning to come for all that and In general 

 wholesalers feci much better than two weeks 

 ago. 



In the matter of collections there is a dis. 

 Ilnct Improvement. Not only Is It a trifle easier 

 to get accommodation from the banks but it 

 is also true that many concerns have started to 

 pay their bills, which have been in arrears (or 

 three to five months. 



There are many reasons to believe that the 

 building business will be good in Greater Pitts- 

 burg this year. This is especially true of house 

 building and the building of small business 

 houses and flats. As it is this sort of work 

 which gives the lumber dealers the most busi- 

 ness they have a right to look for a good In- 

 crease in trade from the yards as soon as spring 

 building begins. ,lust now the yards are not 

 figured among lumber buyers, at least the yards 

 in this vii'inity. Neither are the railroads. It 

 is from the outside mills and the manufacturing 

 plants that most of the Inquiries are coming and 

 from contractors who have large jobs of public 

 improvement work to be done. 



Buffalo. 



The lumber trade is coming slowly back into 

 form again, and though there Is not as much 

 demand as there was a year ago some of the 

 dealers rather welcome the fact. One of the 

 leading hardwood dealers said a day or two ago 

 that it was one of the best things that could 

 have happened to his branch of the trade. Stocks 

 were getting so low that It would take a full 

 year to bring them up to old standards if there 

 was no selling at all. 



While not all the hardwood dealers feel ex- 

 actly that way they are much pleased over the 

 way prices have held up and if there is a steady 

 increase in inquiries all through the hardwood 

 trade there will soon be business enough. Some 

 reports state that collections are improving, as 

 nobody is now hoarding up money. 



Plain oak, birch and cbestnut are quiet and 

 quartered oak, maple, ash and poplar find a 

 fairly ready sale at pretty nearly old prices, 

 with some dealers doing well in elm and bass- 

 wood, though not all of them now carry these 

 wo(»ds In much assortment. 



The mills owned by local hardwood interests 

 are generally busy, though they are all run with 

 reference to the changed state of trade. 



When the furniture expositions are over. If 

 the sales have been fair, the hardwood trade 

 will look fiu' a revival of demand, though it will 

 no dtuiht be March or later before much of a 

 stir is api)arent. It is everywhere felt that 

 there will be nolhing hut Improvement from this 

 time on and no impatience should be shown if it 

 seems slow. 



The Hardwood lOxchange is pr<'pared to meet 

 the inspecllon committee of the National Hard- 

 wood Association on the 28th, after which a 

 delegallon will go on to New York for the meet- 

 ing that the committee Is to liold there next 

 day. At least President Stewart and O. E. 

 Yeager will go down and possibly one or two 

 more. 



Bay City and Saginaw. 



The har<lwood IumlM»r industry is for the mo- 

 ment rather ilumplsh. Buyers haven'.t taken 

 hold as yet In making contracts for stock, and 

 while the outlook Is fairly good there is but 

 mile doing now on that account. Some saw- 

 mills are cutting slock right along and a few 

 are running day and night. This will be con 

 llnued If trade brightens up, but if it does not 

 there will be a sharp curtailing of operations In 

 the matter of manufacturing very soon. Some 

 firms report Hint unless there is an early change 

 in market conditions within thirty days mills 

 will shut down. 



There Is not. so far as can be ascertained. 



