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Published in the InleresI of the American Hardwood Forests, the Products thereof, and Logging, Saw 

 Mill and Wood- Working Machinery, on the 1 0th and 25lh of each Month, by 



THE HARDWOOD COMPANY 



Henry H. Gibson, Editor and Manager 

 Edwin W. Meek 

 Hu Maxwel 



eker| 



Associate Editors 



Entire Seventh Floor Ellsworth Building 

 537 So. Dearborn Street, CHICAGO 

 Telephones: Harrison 8086-8087-8088 



Vol. XXXVII 



CHICAGO, OCTOBER 25, 1913 



No. 1 



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General Market Conditions 



SEVERAL INTERESTING FEATURES have developed during 

 the last two weeks in connection with the general condition 

 of the hardwood market. These features would indicate that there 

 is a decided exception to the generally poor condition of trade, 

 which exception exists among the millmen. 



In the first place there comes the discussion which took place 

 in connection with the meeting of gum manufacturers at Memphis 

 on Oct. 18. At this meeting it was brought out that the actual 

 amount of gum cut and sold during the past months of the present 

 vear has been greater than any other similar period. It was also 

 developed that the actual condition of gum stocks is not anywhere 

 near so serious as was expected before the meeting took place. In 

 fact, an actual tabulation showed that the situation with gum 

 was not at all alarming, even though as to actual market value it 

 is -way off and the demand is seemingly becoming more limited 

 instead of broader. 



In addition to this, there have come to the editorial desk of 

 Hardwood Record advices from representative manufacturers in the 

 mountain sections in eastern Kentucky and Tennessee and West 

 Virginia to the effect that stocks in first hands are not heavy and 

 stocks in the hands of consumers are exceedingly light, in fact, 

 according to the statement of one big manufacturer, more so than 

 that particular concern ever knew them to be. The writer of this 

 same letter predicts that for the winter and spring trade the highest 

 prices for all classes of hardwoods will prevail, and states that it 

 makes this prediction after a great deal of thought and investiga- 

 tion. This opinion seems to be in conformity with that expressed 

 by other big manufacturers in that particular section of the hard- 

 wood producing territory of the country, and opinions of this sort 

 surely offer decided encouragement. 



On top of this comes a most excellent report from the market 

 conditions committee of the Michigan Hardwood Manufacturers' 

 Association, which met at Detroit on Oct. 22. Northern reports 

 have been more optimistic than southern reports for some little 

 time and the statement of the market for northern hardwoods is in 

 keeping with past conditions. Specifically, the report stated that 

 the total stocks of hardwood lumber were but three and a half per 

 cent greater on Oct. 1, 1913, than on Oct. 1, 1912, when stocks 

 were considered unusually low and could not have been enough 

 to supply a period of good general business activity. They are 

 only eighty per cent of 1911 stocks. This report is shown in full 

 under the heading of the meeting of that association in another 

 part of this issue of Hardwood Record. It offers some interesting 

 and valuable information relative to the condition of stocks of 



the various northern woods delivered by the members of the associ- 

 ation. Taken altiigether, it demonstrates that Michigan manufac- 

 turers are justly in an optimistic frame of mind. This report backs 

 up the statement of the southern manufacturer referred to regard- 

 ing market values, it being stated that with the demand less than 

 normal during the coming year, there should not be, and probably 

 would not be, much if any concession from present prices, w^hile 

 with general business conditions good a material advance might be 

 expected in the prices for northern hardwoods. 



Thus can be seen tangible evidence indicating that the hardwood 

 trade should not take conditions too seriously. On the other hand 

 we have tangible evidence that there actually is a decided shading 

 of prices in many of the markets, and it is difficult to make the 

 two conditions jibe. Some support of the favorable condition re- 

 ported is seen in the unquestionably good records for building oper- 

 ations. In many of the leading cities of the country figures are 

 unusually favorable. This condition, however, is not without its 

 serious exceptions. 



Looking at the question in as broad a way as possible. Hardwood 

 Record is of the opinion that there will probably be a slight 

 feature of encouragement in the market which will make itself 

 gradually more evident and that there will be no real reawakening 

 of demand until certain political questions and questions of foreign 

 policy have adjusted themselves. As stated on various occasions in 

 these columns, business is without doubt on a sound basis funda- 

 mentally but, as also stated, business cannot side-step certain 

 questions which are before the nation and which, whether business 

 approves or not, will have an effect upon the country's markets. 

 As to what this effect will be, it is difficult to say exactly, although 

 it is safe to say in connection with the hardwood market that the 

 actual volume of business, even though made up of a greater num- 

 ber of small orders for a few months to come will at least prevent 

 an alarming accumulation of hardwoods at mill points. 



A Night's Shelter 



THE COVER PICTURE which illustrates the current number 

 of Hardwood Record appeals to the woodsman. The temporary 

 shelter is a luxury unknown in the centers of civilization, but be- 

 longs in the depth of the forest. 



The woodsman when overtaken by night is able to make quick 

 use of nature's resources in constructing a shelter that will shed 

 the dew dripping from the trees, and the rain if the weather is wet. 

 The picture shows a roof of bark resting on forked sticks as posts. 

 With an ax, such a shelter can be constructed by a man in about 

 one hour. He peels the bark from standing trees. That may be 



