Semi-Monthly 

 Twenty-Second Year 



CHICAGO. APRIL 10. 1918 



Subscription $2. 



Single Copies, 15 Cents. 



We Do Not Guess 



It has always been our belief 

 that there is one best way to 

 make, care for and merchan- 

 dise hardwood lumber and 

 veneers. Our determination 

 has been to find that way 

 through constant study and 

 tabulation and to adhere to it 

 when found. 



TTie result is that in everything 

 concerning what you buy from us. 

 methods proven by experience 

 and elimination to be best apply. 

 In short, our production of south- 

 ern rotary veneers and hardwood 

 lumber is backed by 



PJM 



SERVICE 



Synonymous with 

 Good Timber — Expert Manufac- 

 ture — Scientific Drying — Modern 

 Mills — Satisfaction to the Buyer 



PENROD^JURDEN &- McCOWEN 



INCORPORATED 



MEMPHIS, TENN. 



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