Xovember 25, 1921 



HARDWOOD RECORD 



53 



for that reason are making purchases only of items that are urgently 

 needed. Exporters report a fair business, while the retail trade is not 

 as brisk as it was several weeks ago. 



INDIANAPOLIS 



Xtittle change has figured in the Indianapolis situatioiL for some time. 

 There Is a note of confidence among the industrials, with the exception of 

 the railroads, that is causing the general situation to assume a firm tend- 

 •ency which the trade believes will carry business through a satisfactory 

 winter. Mills manufacturing flooring, sash and doors and interior finish, 

 -are still working to capacity because of the unprecedented volume of 

 residential and apartment construction. The situation among the fur- 

 niture factories is much better. Sixty days ago there were several in and 

 around Indianapolis that were not working at all, out now there is not 

 one but that is producing to some extent and some of them are manu- 

 facturing almost to capacity. Desk factories and other manufacturers of 

 office furniture report business picking up a little bit, though these indus- 

 tries are slow in increasing production. The general tendency toward 

 ■buying continues the same as during the summer. Executives, are waiting 

 until almost time to have the supplies before placing their orders and 

 then they are shopping around as much as possible. 



EVANSVILLE 



There has been a marked improvement in the hardwood lumber situa- 

 tion in southern Indiana, southern Illinois and western and northern Ken- 

 tucky during the past few weeks and in the opinion of manufacturers, 

 business is going to remain fairly goofl the balance of the year. Mills 

 are being operated more steadily than they were during the summer 

 months and prices are tending upward. Scarcity of some grades is 

 reported and because of this it is believed that prices will continue to 

 rise for some time to come. There is more activity among the furniture 

 manufacturing plants at Evansville, Owensboro, Ky., Henderson, Ky., Tell 

 ■City. Ind., and Jasper, Ind.. than there has been at any time this year and 

 the factories in Evnnsville are being operated on about SO per cent normal. 

 Manufacturers believe that their trade is going to continue to improve 

 from this time on. Collections are holding their own very well and general 

 business conditions are gradually improving. Logs are coming in fairly 

 well, although the recent hard rains in the logging districts in the south 

 and along Green and Barren rivers in western Kentucky may delay logging 

 operations for several weeks to come. Manufacturers of lumber say that 

 indications point to a better demand for lumber next spring and summer 

 and the prediction is freely made that 1922 will be a good building year 

 and will in fact be larger than the present year has been. 



MEMPHIS 



The hardwood market continues firm, but, so far as demand is concerueil. 

 Is somewhat more irregular than a short time ago. It is quite apparent, 

 according to members of the trade here, that demand is being held in 

 ■check in some directions because of the upward tendency of prices. Some 

 <-ousumers are disposed to await buying, apparently in the belief that 

 they will be able to secure their requirements on a somewhat lower basis. 

 Others are holding back Itecause they do not want to carry large quan- 

 tities of lumber into their inventories around the fii-st of the year. 



So far as being able to buy at lower prices later is concerne<l. it is 

 practically the unanimous view of the trade in the producing end of 

 the hardwood industry that delay in placing orders only means the pen- 

 alty of higher prices when orders are placed. This has been the invariable 

 experience of those who have followed this policy since the market turned 

 upward a few weeks ago and it is felt that, with production on a limited 

 scale and desirable stocks growing lighter practically every day, there is 

 no valid reason why there should be any departure from this principle. 



Those who are striving to place orders for shipment after Jan. 1. 1922, 

 a^re on a rather cold trail for the reason that owners of lumber, in the 

 uncertainty regarding production and in the light of the upward ten- 

 dency of values, are indispose<l, as a general rule, to make prices covering 

 shipments so far ahead. Manufacturers themselves seem to appreciate 

 far more fully than consuming interests the difficulties surrounding pro- 

 <luction and also the difficulties attendant upon efforts to buy in the 

 open market, with the result that they are not at all disposed to take 

 a chance on selling something they do not have imme<liately in sight. 



Furniture manufacturers are buying in considerable volume, taking 

 plain and quartered gum and oak in Xo. 1 common and better, with 

 some purchases as Iriw as No. 2 common in plain red and white oak and 

 in gum. Flooring manufacturers and producers of interior trim are in 

 the market in a substantial way and they are absorbing large quantities 

 daily of No, 1 common and better in plain red and white oak and plain 

 re<l and sap gum. with a fair sprinkling of No. 2 common in all the 

 items described. There is likewise a fair general demand from other 

 consuming interests. Perhaps the most disappointing feature is the 

 slowness of ash and elm which are used largely by the automobile trade. 

 These items are generally quite slow, although demand is reported some- 

 what better. In the meantime, ash is generally firmly held for the reason 

 that, - even though demand is not particularly heavy, there is no large 

 supply thereof. 



Export demand is considerably less active than a short time ago. The 



Delta Hardwoods 



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A 



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BREECE 



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