^^w 



ftoMwool RocoS 



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

 Mill and Wood-Working Machinery, on the lOlh and 25lh of each Month, by 



THE HARDWOOD COMPANY 



Henry H. Gibson, Editor and Manager 



Edwin W. Meeker"! . . . c- ,. 



., ,, VAssociale Ldilors 



Hu Maxwell J 



Entire Seventh Floor Ellsworth Building 

 537 So. Dearborn Street. CHICAGO 

 Telephones: Harrison 8086-8087-8088 



Vol. XXXVII 



CHICAGO, FEBRUARY 10, 1914 



No. 8 



> W>i' 



r.!v/^:^tm^i^!/i^i>t^■ni>^^l;tw;vy■^vi^3:s!;M:i^i/X:)^^l>i;^^^ 



Review and Outlook 



LlR! 

 NEW 

 «0TA 



Saps, however, are in stronger demand, particularly in the box grades, CJaK 

 as is Cottonwood in the same grades, the box manufacturers having 

 been taking large quantities of these woods. Furniture men are 

 also using considerable sap gum, which is helping the situation 

 materially. 



As a general thing it is probably a fact that the northern woods 

 are in a little better position than the southern woods, although it 

 cannot be said that either class of material is not doing nicely. 

 It will probably be a fact that in Wisconsin the input of logs will 

 be about twenty-fire per cent below normal; the prediction of which 

 condition is already having its effect upon the general market. 

 Some substantial sales have already been made in northern woods 

 at very favorable prices, particularly favorable as compared to last 

 year's values. 



No distinct developments can be seen in the export market, which 

 continues in a rather unfavorable light, particularly from southern 

 ports. Eastern exporters are probably a little more favorable in 

 their expressions of the foreign situation than are southern export- 

 ers. They seem to see real evidence of the probability of a better 

 condition of freight rates for foreign shipments, which will enable 

 American lumbermen to compete more successfully with foreign 

 woods of certain character. It is reported in some cases that stocks 

 abroad are fairly well cleaned out and the resulting condition 

 would naturally be favorable to American shippers. Apparently 

 there is nothing in the situation which can prevent a really good 

 trade during the year 1914, with prospect of good business condi- 

 tions generally, with stocks at the mills in good shape or, where 

 they are rather long, in strong hands with consumers' stocks and 

 yard stocks in short condition on an average. Of course it is impos- 

 sible to foretell all developments in the future, but it is significant 

 that some of the most sagacious and successful wholesalers are pur- 

 chasing considerable quantities of lumber to take care of the antici- 

 pated year's trade. This should serve as a pretty fair indication 

 of what business will be during the next eleven months. 



General Market Conditions 



CONSIDEEING THE COUNTRY AS A WHOLE, a continually 

 strengthening note of optimism has been apparent in hardwood 

 circles in the last two weeks. From everywhere reports are emanat- 

 ing which indicate greater activity of inquiry, larger individual 

 sales and a real strengthening in values. This can be ascribed only 

 to a more favorable condition of trade among purchasers of hard- 

 wood stocks generally and a more apparent confidence in the business 

 future of the country during the coming year. As is usually the 

 case when any transition of trade is taking place, reports are rather 

 mixed and even from the same territories are divergent, — that is, as 

 one prominent Philadelphian expresses it, some fellows are still 

 blowing out the candle just to see if it is dark, — but as a general 

 thing the usual desire seems to be to throw on the electric current 

 and make it even brighter. 



All lines of trade are evidently feeling a substantial strengthening 

 in business. Favorable reports of railroad purchases are not at all 

 uncommon, which condition is probably partly due to considerable 

 confidence in the outcome of the freight rate agitation and also 

 in the condition of freight movement in general. With the easing 

 up of the money situation, building operations have taken on a 

 different aspect and the call from this class of the consuming trade 

 is much more satisfactory than it has been. This applies to general 

 building construction material as well as to finish and woods which 

 go into other more advanced phases of building construction. The 

 furniture people took a favorable view of recent furniture exposi- 

 tions, although they stated they were not overwhelmed with orders. 

 They are, however, favorably impressed with the possibility of busi- 

 ness during the next few months. The implement people are feeling 

 a good demand as is usually the case at this time of the year and 

 are buying nicely. The box trade is holding up in excellent shape 

 and is responsible for a certain strengthening in certain grades 

 of hardwoods. 



A feature of the business which is probably not as it should be 

 is the actual delivery of oak. It is reported that orders for this 

 class of stock are plentiful, but that in many instances deliveries 

 are being delayed without apparent reason, that the territory in 

 which this is most evident, however, is rather restricted and it is 

 not anticipated that it will have any general effect on the market. 

 As a result there has been some little tendency to shade oak prices 

 on the part of concerns whose sales are principally in the territory 

 affected. On a general basis, however, oak is not available in unduly 

 large quantities and its price is holding firm in quartered and plain. 



In red gum nothing of particular importance is noted as this wood 

 continues to go along on about the same plane as it has been moving. 



Eagle Creek Valley 



■-pHE FRONT COVER ILLUSTRATION of this issue represents 

 •I a forest scene in Eagle Creek Valley, western North Carolina. 

 The stream here shown flows into the Little Tennessee river at 

 Fontana. The valley has a length of fifteen miles and a breadth 

 of ten, and is heavily timbered with hardwoods with a scattered 

 growth of necdleleaf trees. The most important of the hardwoods 

 are yellow poplar, oak, chestnut, and white ash. The even and 

 splendid stand of these trees has elicited admiration from all 

 who have visited the region. Practically the entire valley or basin 

 of Eagle creek is owned by the Montvale Lumber Company, which 



