October 25. 1921 



HARDWOOD RECORI* 



71 



^TJHAT about your future hard- 

 \\ woods? It is obviously no time 

 to preach "lumber shortage" 

 and we have no such purpose. But 

 it is true that practically no lumber is 

 being made and present shipments 

 are slowly, but surely, wearing down 

 stocks. It is only a question of time 

 when there will be nothing left but a 

 broken lot of low grade for there is no 

 physical possibility of measurably 

 increasing production for many 

 months. 



Now comes the easing of the cotton 

 situation — releasing the money with 

 which to carry present mill stocks. 



Our judgment is by no means in- 

 fallible, but doesn't it look to you as 

 though these circumstances would 

 make it a logical time to buy at least 

 a moderate stock? We have further 

 information that would be of vital in- 

 terest to any lumber buyer who will 

 address us. 



ANDERSON-TULLY 

 COMPANY 



MEMPHIS TENNESSEE 



