January 10, 1922 



HARDWOOD RECORD 



59 



fresh timber during the late wintpr and early spring are likely to meet with 

 indifferent success. Rain and flood conditions are likely to be encountered 

 during this period, especially if anything like normal prevails, which will 

 interfere with the work of established crews. 



It is conceded that production is smaller than was ever known at this 

 time, with the probable exception of a year ago. In the meantime^ stocks 

 are badly broken and offerings of No. 1 common and better are light in 

 virtually all items. Production during the past several months, even 

 though larger than for the year preceding, has not kept pace with ship- 

 ments, with the result that stocks are still on the decrease. There is an 

 accumulation of low grade lumber but consuming interests requiring No. 1 

 common and better are likely to encounter considerable difficulty in secur- 

 ing their requirements during the next few months. 



LOUISVILLE 



Inquiries for hardwood continue fairly active and bear the earmarks of 

 being bona fide, and not merely for figuring Inventories. In December de- 

 mand slowed down rapidly, but with business fairly active, demand is ex- 

 pected to come right back, as general business this year is far more active 

 than it was at the beginning of the 1921 period. Prices are firm and 

 showing no inclination to change. Ash is low in price and considered a 

 good buy, as any heavy buying of the auto manufacturers would chase it 

 up several points. However, jobbers are not stocking much lumber, not 

 having ready cash available for buying and carrying, and industrial con- 

 cerns have been buying in hand to mouth lots until after inventory at least. 

 It is believed that buying will continue on small lot basis until something 

 definite is done in the matter of freight rates. 



NEW ORLEANS 



The hardwood market for the o.\treme South suffered the usual seasonal 

 quietness and Inactivity during the fortnight just closed. The wheels of 

 the manufacturing industry were stayed for a goodly portion of the Yule- 

 tide, inquiries fell off, demand was rather inactive and the hardwood indus- 

 try, in all its various phases, not unlike everything else, "took its holiday 

 vacation." 



As southern hardwood men returned to their plants and wholesale and 

 retail offices the first of the year, however, they met with conditions that 

 all agree are changing, gradually, but nevertheless steadily and inevitably, 

 for the general improvement of the industry. So that it is not without 

 a considerable degree of well-substantiated optimism that the hardwood 

 men of the extreme South greet the New Year. 



During the past two weeks prices have remained tenaciously firm, with 

 a slight tendency toward the ascent, especially on the uppers, the stocks 

 of which at both the manufacturing plants and at the wholesale yards is 

 both scarce and badly broken. Nor have the prices of the lower grades 

 shown any tendency to continue their downward trend. This was definitely 

 checked several weeks ago and the tendency with the lower grades, as 

 well as with the uppers, is to move up in price. 



The Yuletide, it seems, did not affect the export trade quite so acutely 

 as it did the domestic consumption : for, whereas, the latter literally went 

 dead for a week or so, the former at least held its own, if it did not actually 

 increase slightly. Among countries taking considerable quantities of the 

 better grades at the present writing are Spain, Italy, other Mediterranean 

 countries, Cuba and the Argentine. 



TORONTO 



Although at the moment of writing the hardwood market is seasonably 

 quiet, with purchases having fallen off, owing to woodworking establish- 

 ments having deferred buying until stock-taking operations are over, the 

 year is closing with a confident outlook for good business shortly after 

 the New Year opens. The present dull period is in some measure ac- 

 counted for by the general practice of woodworking plants of having as 

 low stocks as possible at the end of the year in order to make as good an 

 inventory showing as possible. During the next two or three weeks most 

 plants will be busy stock-taking, which, for the lumbermen, means little 

 selling. As each week goes by the outlook improves. This is reflected in 

 the fact that considerable blocks of stock have been changing hands 

 recently, one leading wholesaler purchasing over 2,000,000 feet of birch. 

 No. 2 and better, during the past two weeks. Another dealer bought over 

 1.000,000 feet and several smaller sales have taken place. This is taken 

 to Indicate that the wholesale trade is gaining confidence so far as the 

 future is concerned. Certain it is that after a considerable period of 

 hesitation things are showing signs of moving In the right direction. 

 Several hardwood firms, which have a considerable quantity of firsts and 

 seconds, and selects and No. 1 common on hand, arc holding on to their 

 stocks until the prices they ask are forthcoming. There is a confident feel- 

 ing that there will be no further decrease in price and that the pendulum 

 will shortly begin to swing the other way. It is predicted that with any- 

 thing like normal buying there will be a shortage in both domestic and im- 

 ported hardwoods, and particularly so, in view of the decreased operations 

 of the past season and the limited logging activities being carried on this 

 winter. Whether the demand will get back to normal during the next few 

 months is a matter for speculation ; but in the meantime there are favor- 

 able signs, as indicated by the fact that requisitions are coming in from all 

 sides, asking for bids on various quantities and grades. 



VESTAL LUMBER 

 & MFG. COMPANY 



INCORPORATED 



Soft Textured Oak 



Poplar 



Black Walnut 



Tenn. Red Cedar 



KNOXVILLE, TENNESSEE 



BAND MILLS AT VESTAL 



A SUBURB OF KN0XV1IXE 



FONDE, KY., & DUFF, TENN. 



r 



Delta Hardwoods 



While The Other Fellow 



HESITATES, YOU MAY GUARANTEE 

 THE QUALITY OF YOUR HARD- 

 WOOD LUMBER SUPPLY BY GET- 

 TING IN TOUCH WITH OUR SALES 

 DEPARTMENT. OUR OPERATIONS 

 ARE BACKED UP BY AN EXPERI- 

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 WHILE YOU CAN GET THE BEST. 

 DON'T WAIT! ACT TODAY! 



QUALITY 



AND 



STABILITY 



>V 



Double Band Mills 



II Arkansas City, Ark. 



Manufacturing Co. 



PortsmouH ^' 



