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Copyright, Turn Harowood Coiipa.ni, 1U17 



Publiihed in the Interest of the American Hardwood Forests, the Products thereof, and Logging. Saw 

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



THE HARDWOOD COMPANY 



Edgar H. Defebaugh, President 

 Edwin W. Meeker, Managing Editor 

 Hu Maxwell, Technical Editor* 



Seventh Floor Ellsworth Building 



537 So. Dearborn Street, CHICAGO 



Telephones: Harrison 8086-8087-80S8 



Vol. XLIV 



CHICAGO, JANUARY 25, 1918 



No. 7 



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Review and Outlook 



General Market Conditions 



WAR BUSINESS IS OVERSHADOWING all other throughout 

 the hardwood trade. The volume of manufacturing for nor- 

 mal purposes does not show much reduction, but commercial con- 

 sumers are following the wise policy of not going too far ahead in 

 their purchases. They are at the same time taking in quite a little 

 lumber, and reports from representative sources indicate a very 

 fair volume of sales for the products manufactured therefrom. 



But the dominant feature is war business, which has had the 

 greatest influence of any one thing in raising the level of hard- 

 wood values. 



' With the building record for 1917 now completed, it is shown 

 that the permits issued aggregated 32 per cent off normal volume. 

 This showing is probably not so serious as had been expected from 

 the tone of current reports, but it reflects a tremendous decrease 

 in the amount of wood going into construction. Well-known 

 authorities have, however, concurred in Hardwood Record's pre- 

 diction that there will be a slight improvement in the building 

 situation as building weather comes upon us in 1918, and it would 

 not be at all surprising if government underwriting would make 

 possible an extensive building program. Such a policy would be 

 for the best interest of the country as a whole, and it is merely a 

 question of demonstrating to the powers that be that such action 

 is entitled to equal consideration with the questions more directly 

 affecting the war prosecution. But it will without doubt prove 

 to be a truthful prophecy that building during the early half of 

 1918 wiU show some improvement. 



As the prospect appears now, there is very reasonable promise 

 that war materials will more than take care of the void left by 

 recessions in normal markets for hardwoods. The opinion is given 

 on good authority that the demand for material for containers of 

 all kinds is barely touching the beginning; that this demand will 

 increase to such a tremendous extent that it will require a good 

 proportion of the manufacturing capacity of the industry. Then 

 there is the more specialized line of production, the requirements 

 of which are becoming not only more extensive but more prac- 

 ticable from month to month. A great deal of production for war 

 purposes has been held up because of impracticable specifications 

 which, however, are being rapidly ironed out through co-opera- 

 tion between government authorities and men with practical ex- 

 perience in the business. The result is a possibility of more speedy 

 production of war materials and as the trade is shifted from nor- 

 mal stock to war production, the priority regulations coupled with 

 government control of the roads will without question establish a 

 period of rapid movement of lumber freight shipments. 



Values are still climbing. Some items have been assisted to 

 higher levels by the rapid climb in prices for different specialties. 

 The result is a much higher average market all along the line. 

 Then there is no prospect of a change other than to still higher 

 levels. 



Lumber Week 



LUMBER WEEK AT MEMPHIS estabUshed a double signifi- 

 cance. It proved the value of the co-ordination of energetic 

 action; it also resulted in accomplishments which give promise. 



The Memphis Lumbermen's Club can probably be called the 

 father of one of the most advanced steps yet taken in the hard- 

 wood manufacturing trade. The spirit which has made possible 

 the many big things which have been done in Memphis brought 

 about the amalgamation of two big associations in that flourish- 

 ing city last week. Detailed account is given elsewhere in this 

 issue. But the real point is that a powerful branch of the hard- 

 wood manufacturing industry has officially and without reserve 

 stated that its purpose is to work toward a single standard of 

 hardwood inspection. 



Just what the outcome of the amalgamation of the two Memphis 

 associations into the American Hardwood Manufacturer's Associa- 

 tion will be, cannot be foreseen. Just how far its development 

 may include other bodies now carrying on important work in be- 

 half of hardwood lumber, it is impossible to foretell. But the fact 

 remains that there is now in existence a powerful body properly 

 organized with it's definite purpose to eventually effect a single 

 standard for inspecting hardwood lumber. It is to be hoped that 

 this movement will bring about that much desired step in the 

 marketing of hardwood lumber toward which the trade has been 

 working without results for a good many years — the merging un- 

 der one official seal of the grading rules under which hardwood 

 lumber is sold. 



A Short Look Ahead 



SNOW COVERS THE GROUND to a depth from one to three feet 

 over jiiirts or all of a dozen states drained by the Mississippi 

 river, chiefly through its eastern tributaries. In the natural course 

 of events, that snow will be all gone in three months. It may go by 

 the process of a gradual thaw extending over several weeks, or the 

 most of it may melt quickly during a few days of warm, genial rains. 

 If the thaw shall be gradual, the streams which drain the region 

 will be able to carry the water to the sea without unusual floods, but 

 if the thaw shall be speeded by warm weather and heavy rain, destruc- 

 tive floods are certain. The chance is at least half and half that 

 floods are coming. Thoy usually come in the spring, and the extra- 



