NEW YORK 



BOTANtO.L 



GARnHN 



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Copyright, Th« Hahdwood Company, iai7 



Publithed in the InleresI of the American Hardwood Forests, the Products thereof, and Logging. Saw 

 Mill and Woodworking Machinery, on the 1 0th and 25lh of each Month, by 



THE HARDWOOD COMPANY 



Edgar H. Defebaugh, President 

 Edwin W. Meeker, Managing Editor 

 Hu Maxwell, Technical Editor' 



Sevenlh Floor Ellsworth Building 



537 So. Dearborn Street. CHICAGO 



Telephones: Harrison 8086-8087-8089 



VdI. XLIV 



CHICAGO, OCTOBER 25, 1917 



No. 1 



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Review and Outlook 



General Market Conditions 



ALARMING REPORTS of growing restrictions in woods and 

 sawmill labor make definite predictions of curtailed winter 

 cut possible. The Southern labor field is being affected in addition _ 

 to the causes that are affecting other industries by the vast demand 

 from the cotton interests "and by the continued exodus of negroes 

 to northern points. It was thought for a time that the movement 

 of black labor north had been checked, but seemingly their char- 

 acteristic impulse to "follow the leader" and their seeming ardor 

 to get into new fields is uniliniinished. The result is that the millmen 

 in the South are reporting greater and greater difficulty in cutting 

 and moving their logs and in handling their sawmill work. This, 

 coming now with ideal logging conditions at hand and the entire 

 jirobability that in a few short weeks the wet winter season will 

 have covered the southern forests, makes the prospect extremely 

 dubious. As a matter of fact, even though some of the mills had 

 begun to accumulate quite sizeable piles of logs on mill yards, these 

 dill not reach anywhere near the jiroportious desired Ijefore increas- 

 ing difficulties began to be experienced. The problem before the 

 southern operators is a very serious one and is already resulting 

 in short-time runs with the prospect of many plants being com- 

 pletely shut down. 



The same conditions, jpossibly in a less aggravated form, hold in 

 the North, where it is suggested that the cut will at least ajpproach 

 normal hut will not by any possible chance go beyond the normal 

 volume. 



A suggestion of that < liaracter is really serious in itself as a 

 production lessened below the actual demands, and especially at 

 this time when the government is requiring such vast quantities 

 of all kinds of lumber, is especially undersirable. Of course it has 

 the saving feature in that the absolute certainty of under-jiroduc- 

 tion will entirely overcome any weak-kneeil tendency. to sacrifice 

 lumber at less than production cost. A few weeks ago the trade 

 began to show occasional symptoms of cold feet on the price ques- 

 tion, but the difficulty of consignment shipments in itself has been 

 a potent factor in checking any such action. With the growing 

 realizatiim of the serious situation confronting producers, the lum- 

 ber trade is holding tight to its confidence ami lumber is going to 

 hohl what it has gained and probably incline still further. 



As far as normal lumber consumption is concerned, the situation 

 is too well ilefined to need extensive comment. There is growing 

 evidence that one of the big reasons why the factories are not 

 buying more lumber is, as previously stated here, the uncertainty 

 of labor at the manufacturing centers. There is no question as to 

 the amount of money available in the country, although subscrip- 



tions for government nee3s will, of course, take out of normal 

 circles a verj' large quantity that might normally go for other 

 purposes. It is merely a question of time, though, when this will 

 get back into regular channels again, at least the vast bulk of it, 

 and the buying power of the people as a whole will thus, of course, 

 remain unimpaireil. It is obvious that the vast government ex- 

 penditures will be made on the basis of credit rather than of actual 

 handing of cash from government hands into the hands of those 

 supplying its needs. Thus the return of money used for war 

 purposes to general circles will probably be rapid. However, it 

 is safe to count upon largely restricted demand for the things which 

 people normally buy freely with their spare money. 



Even in spite of this, the furniture factories in most parts of 

 the country are reporting that they have orders for about all the 

 stuff they can put out. Yet, they are undeniably further restrict- 

 ing their purchases of raw material, the reasons, as stated, being 

 uncertainty of having sufficient labor to use up any great quanti- 

 ties and also uncertainty as to future market for the stuff they are 

 going to buy. 



The Washington situation seems to be getting straightened out 

 in better shape each week, and the work will progress witn more 

 vapidity as the working forces are more accustomed to the new 

 iluties. One of the evident results is the speeding up in orders 

 and requisitions ami requests for bids on many articles that have 

 not been given general publicity. In fact, it is becoming more and 

 more evident that the bwnber trade in common with other industries 

 must make war production the paramount consideration, and 

 that it will find in I'ncle Sam a market more than suflicient to 

 take care of the deficiencies in other fields. 



Nothing more encouraging is heard from lumber export circles, 

 nor from the building trades, nor can anything more hopeful be 

 aiiticijiatcd in these directions. The present state of affairs also 

 as it applies to the factory trade in general can be expected to 

 continue until the factory buyers as a whole realize growing 

 shortages in fall and winter production of hardwoods. The im- 

 portance of the manufacture of containers cannot be too strongly 

 emphasizeil. As a bulk of government goods will be sent across 

 strong containers are in order and wood is essential. Millions and 

 millions of feet of crating and box lumber will be recpiired. 



What has been said here is of necessity more or leas of a repeti- 

 tion of what has been said before in previous issues, but the condi- 

 tions warrant repetition and are here outlineil again with added 

 emphasis as they are showing more definite alignment. The net 

 of the whole thing is that lumber is still good property and will 

 be even better property before the winter is over. 



