Dpct'inluT 2."j. 11121 



HARDWOOD RECORD 



Quality 



^ 



in hardwood lumber is de- 

 termined largely by the soil 

 ill which the stumpage is 

 grown. This is why our 

 St. Francis Basin gum am 

 other himber is Suj^crior. 

 Conditions are ideal for 

 perfect growth. 



Miller 



Lumber 



Co. 



MARIANNA, ARKANSAS U 



i Bantl Mills 

 100,000 feel Daily Caparity 



iiuunifacturiuK luisiiipss. I'tc. Tlii' rnpital is .S4(p,(I(H) :ii»1 tli.- luM.l(|uar- 

 t«M-s arp to bo in Toronto. The provisional directors ;iro V. (J. riiiiipcn. 

 K. V. T. I'hipp.'n. .\. .1. I'liipp.ii. M I'liippi'li Mini Slaiilcy I'.iui.I.hU 



The Hardwood Market 



CHICAGO 



l)elievius that it will pa.v to <lo so from now on. The Ipadius soiithern 

 woods are also getting a fair share of the business. Furniture factories 

 have been falsing quite- a little gum latel.v. Gals and maple flooring are 

 holding strong and the mills are showing a good deal of independence as 

 to whether bu.vers take the stock or not. as with spring busiuess almost in 

 sight the.v expe<-t large sales. 



The Buffalo building outlook is regarded as favorable and the record of 

 the year now nearly at a close has been better than many people in the 

 trade expected. The permits for eleven months totaled .«13.47tl.0()(), which 

 is about .t;30n.(>(H) more than for the whole year 1920. The number of 

 permits has also been larger this year. 



The hardwood market in Chicago is now evidencing the usual holiday 

 slump, which condition has no bearing on the general situation. Dealers 

 in hardwoods are now looking forward to the New Year an<l are doing so 

 with a feeling of optimism and contidence. They believe that luiying is 

 going to resume in good volume right after the end of the year and that 

 1922 will be a very satisfactory perioil. They expect prices to be strong 

 and have a rising tendency until late spring or early summer, when the 

 new cut of hunber is ready for the market. Then they do not expect any 

 recession in prices, proviiled general economic contlitions are as favorable 

 as they now promise to be. St<)cks are low at mills both North and South, 

 and proiluction will be far below normal this winter. In the North it will 

 not be more than 65 to 75 per cent of normal and in the South will be 

 even less. Therefore, it is the belief of lumbermen in this market that 

 if no more business develops than is already in sight 1922 will be a gooil 

 year for them. 



PITTSBURGH 



BUFFALO 



The hardwood yards are not selling m\lch lumber at present, owing to 

 the inlluence of the holidays, hut the trade is bidieved to be only marking 

 timi- and will be ready to start off again in a fairly active way in .lannary. 

 Some lumbermen think it may be March before much l)usiness is done, but 

 everybody believes that the corner has been turned, so far as industrial 

 activity is concerned, and that next year will be better than the preseut 

 one. The past year has been one of readjustment and consequently has 

 not brought as much satisfaction to the lumbermen as some previous 

 periods have. For feonie time there was scarcely any business, and prices 

 were badly affected by the efforts of mills and wholesalers to get rid of 

 stock, but prices and trade are both on a better basis and promise to 

 improve further. 



Sales of northern hardwoods are reported to be showing an increase 

 and some lumbermen are giving them an increasing amount of attention, 



At the annual banquet of the IMttshurgh Whole.sale I-umber Dealers- 

 Association at the William Penn Hotel, December 19, it was reported 

 that 1921 has been about the worst year in the lumber business that Pitts- 

 burgh wholesale dealers ever saw. Shipments have fallen off by the hun- 

 dreds of cars with the big concerns. Their profits, as a result, have 

 moved away so that most of them did not make any money this year. In 

 fact, quite a few of them are willing to admit that they have not made 

 expenses. -Ml the year business has been unsatisfactory. .\ few spurts 

 in late summer and early fall did not bring up the average business to a 

 satisfactory point. On the other hand business in November and Decendier 

 has been fearfully dull, and the year is going out on a dead level of no 

 orders and few in(piiries. The hardwood business has suffered almost as 

 much lUiring the year as the trade in pines and hemlock. Industrial 

 rlemand has bi'cn very light and coal mining trade has amounted to almost 

 nothing most of the year. The only really bright feature in the hardwood 

 industrial business this year has i)een the demand this fall from the glass 

 companies, which have been very large buyers. The outlook for 1922 is 

 very uncertain, and there are many who believe that business — at least 

 for the first two months — will be no better than in 1921. 



A. Rex Flinn, president of the Duipu-sne Lumber Company and als<i 

 president of the Pittsburgh Wholesale Lumlier Dealers' Associati<ui. pre 

 sided at the annual banquet antl convention. 



PHILADELPHIA 



this city and 

 from industrials. 



There is one bright spot in the bardwoiul market 

 vicinity. It is the increased denmnd for hardwoods 

 This improvement has been constant for the past month anil has been 

 stimulated by the turn for the better in the textile belt with the attendant 

 reaction in the hardwood-using industrial establishments. Another bright 



