flaMwoM RecoM 



Published in ihc Inlcrcsl of the Amfrican Hardwood Foresls. ihc Products ihertof, and Logging. Saw 

 M.ll and Woo'J-Uorking Machinery, on the lOlh and 25lh of each Month, by 



THE HARDWOOD COMPANY 



Henry H. Gibson, Editor and Manager 

 Edwin \^'. Meeker"! 

 Hu Maxwell J 



SAssociale Editors 



Entire Seventh Floor ElUwotlh Building 

 537 So. Dearborn Street, CHICAGO 

 Telephones: Harrison 8086-8087-8088 



Vol. XXXVII 



CHICAGO, JANUARY 10, 1914 



No. 6 



^^^^^ 



^i^^>Hi>S^>S^!>:v>»ay 



Review and Outlook 



General Market Conditions 



Till-: NKW VKAK 18 TOO VOCXti to have .leveloped any ival iiuli 

 iMtioii i)f what is to route during; the next few months, but it can 

 lip .stated most emphatically that in spite of the conditions which 

 liie lumlper tiaile has lieen liattlinj; afjaiust for seveial months, 

 there pioliahl.v has never been more general feeling of hope or more 

 -Ulcere belief in the futnre of the liunber business. This opinion is 

 • it niprelv the expression of a feu nicinliers of the trade but is rather 

 the consensus of opinion as expressed bv a large number of the most 

 representative men in the business in various sections of the country. 

 The usual opinion is that beginning with the latter part of this 

 iniiuth or the early weeks in February there will be real evidence of 

 .■1 change in the tone of general business of the country. 



The two factors wlii.-li have played an important part in all mar 

 ket reports in all lines of Inisiiu'ss for the last feu iiioiitlis — iiainoly. 

 the tarill" and currency legislation — are of course statutes now duly 

 the law of the land, but it is nevertheless a fact that the influence 

 of these national (piestions is still being felt. Foreign manufacturers 

 are really just beginning to feel out the possibilities of trade in this 

 market and it will probably be some little tinu> before they will be 

 actively engaged in competition with domestic manufacturers and 

 then of course arises the prohlcni as to what the outcome of the 

 trade w;ir will be. It is really too early to form any definite idea 

 regardint; the direct effect of this proposed foreign invasion njion 

 the manufacturing interests of the I'nited States. Thus the real 

 effect of the tariff is a matter of the future rather than of the past. 



Regarding the currency matter, tliis too is still in the throes of 

 tonnation but its proliable future elVect on business can be more 

 . dearly analyzed than .an the .■H'ects of the taritf. 11 is really a 

 (|iiestion of merely working out tlii' details of the organization, as 

 the probable working out of the measure can be clearly seen in its 

 theoretic.-il form, which has been pronouiu'eil distinctly favoratile. 



Another encouraging feature of the general situation is the rather 

 better tone which prevails in regard to export shipments. This is 



more notably true of shipments from eastern centers tl from south 



em jiorts. Fastern e.xporters state that the note of inciuiry as coming 

 from abroail is very favorable and is the result of a really distinct 

 shortage in all lines of hardwood stocks, which shortage must soon be 

 tilled. New Orleans and other southern exporters, however, say that 

 (Idle the -ituatioti promises well for the future if is not now in a 

 definitely settled state, the uncertainty as to ocean freight rates 

 »oem» to be hohling up the [ilacing of onlers and getting out of 

 shipments. However, generally sjioukingij (t can be said that the 

 export situation looks better than it has for some little time. 



Locally, the hopes of the majority of the lumbermen are based 



iipoM really i;ood iiidii'.-itions from the i-oiisuniing end and on favor- 

 able conditions uliich exist at the iiroducing end. The stock situation 

 at the mills continues to be in first-class shai)e and conditions now 

 existing in some of the southern producing sections ]ironiise any- 

 thing but an accumulation of .stocks. In the territory around Mem- 

 phis, for instance, the outlook for log supply for the coining few- 

 months is not at all encouraging, in fact it is stated that along the 

 right of way of the Yazoo & Mississipiii Valley the logs jnled along 

 the tracks aggregate not more than twenty-five or fifty per cent of 

 what was desin-d. It is ]iredicte<l that unless entirely unusual log- 

 ging weather |ints in an appearance during the next couple of months, 

 mills in the Memphis territory will not have enough logs to keep up 

 their output. Xortliern manufacturers are in a position somewhat 

 similar, as the extremely moderate weather and the alisence of snow 

 and freezing temperature has seriously retarded log hauling. ^lann 

 factnrers in other jioints are not so reftirded but. while they will 

 have their full run. the stock which they will m.-imifacture will all 

 be in strong hands and there will be no daiiyer of its teiidiiif; to break 

 the market. 



Xo change of notable sigiiilic.Miire regarding the relative' popularity 

 of the various hardwoods has been rci-orded so far this yi'ar. nor 

 is there aiiytliiii>; that would parti. nhnly iiulii-ate a prospe.-tive 

 change in their rclati\c' staii.liug except rcg;ir.liiig the upper grades 

 of most of the more important spei-ies. A more favorable demand 

 will necessarily have a lifting effect upon the market for the various 

 grades of the different woods but it is quite likely that the liefter 

 end of the stock will be most noticeably affected as it is this par- 

 ticular kind of lumber whicdi has felt the recent depression most 

 severely. Tln'ii' h.ave not been any discouraging breaks in the market 

 in general, nor is there anything; to indicate any change other than 

 the strenutlieniiii; of pii.-es all alori^; tlii- line. 



Trees Old and Young 



WHO KNOWS THAT DK SOTO .li.l not teth.'r his mule to the 

 white oak sapling which is repr.'sente.l by the log on the 

 eight-wheeled wagon in the .-over pictnri' illustrating this issue of 

 lI.\RD\vooD KKt'ORD? Till' I lei' from wlii.h that log was cut was 

 probably growing in the Mississippi forests while the Spanish 

 explorer was seari hing his way westwar.l through a country then 

 unknown. He peiu'tr.-ite.l to the Mississipjii river, crossed it, only 

 to perish, an. I he w.-is bnrii'.l ben.'ath its nuubly waters, his body 

 being eudoseil in a h.dlow tree trunk ami loaded with weights to 

 sink it to the bottom. That was the first ami the most famous 

 coffin ever known in the Mississippi valley. 



The enormous o:il< log shown in the pii-tnre was cut from a tree 

 four or live hnii.ln-.l v.'.-irs ol.l. ami wh.'ther r>e Soto"s cavalcade. 



