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Copyright, The Habdwood CoMi'ANi, l'.)15 



Published in the Interest 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 



Entire Seventh Floor Ellsworth Building 

 337 So. Dearborn Street, CHICAGO 

 Telephones: Harrison 8086-8087-8088 



MEW ' 

 BOTAJ 



Vol. XL 



CHICAGO, AUGUST 10, 1915 



No. 8 



^ p:m;im! MOT^OTa^ TO3i^iTOSOT^^ 



Review and Outlook 



General Market Conditions 



IN SPITE OF Ol'TIMISTIC RKl'OKTS by trade prognosticators, 

 business men are reluctant to accept a favorable verdict because of 

 many bitter disappointments in the past. Improvement in business has 

 been predicted for so manj' years that all reports of indications which 

 voice a spirit of hope are rather discredited. Nevertheless, the voice 

 at this time seems to be so insistent that it is being given credence 

 in all quarters with due allowances for (lualifying conditions which 

 might alter facts as they ap])ear in specific cases. 



For instance, the report of greatly improved orders for steel 

 products is not taken with the same relish that it used to inspire, as 

 steel has somewhat lost its prestige as the nation 's business barometer 

 on account of its close connection with the unnatural business in war 

 materials. However, the authorities have Ijocn insistent that a very 

 fair measure of improvement in steel has been due to improved 

 domestic conditions. 



It has been suggested by pessimists that wo should not bo uiuUily 

 elated over the crop situation on account ol' the continued rains. 

 Nevertheless, records bear out the statement that rainy seasons liavo 

 always been marked by unusually good total crop results. This season 

 of rain has, of course, hit certain lines of crops, but on the other 

 hand it must be remembered that other crops will be benefited. Proper 

 authorities assert that tlie whole crop outlook is rendered more favora- 

 ble on account of excessive moisture, in spite of the fact tliat some 

 specific crops are ratlier bliglited by the same cause. 



In spite of some reports to the contrary from general sources, it is 

 continually apparent that the yard trade outside of the large cities 

 is ill fair shape, particularly in the Middle West. It naturally could 

 lie inferred from this that building operations are not at all limited 

 to the large cities. It is true that the progress of building in cities 

 and arrangements for additional structures in the immediate future 

 are really good. Nevertlieless, reliable information touching on tiie 

 purchase of lumber shows that the country yard trade is buying more 

 proportionately than is almost any other line in the consuming end. 



I'actory trade is picking up slightly, esjiecially in furniture. The 

 ]iiano business is pretty well demoralized at present. Pianos are 

 undoubtedly a luxury which a good many people feel they can afford 

 to do without, whereas the purchase of furniture is of a different 

 character. A fair percentage of piano purchases comes from people 

 wlio substitute new instruments for old and it is hardly likely that any 

 large percentage of the population of the country feels like making 

 any outlay for a purpose of tliis cluiracter. 



Pefinite information covering northern mill points shows that there 

 is no startling condition there as far as stocks are concerned. There 

 is indeed some surplus and nortliern mills are continuing to cut good 



quantities of lumber, but there is no reason to believe this surplus 

 will assume any alarming proportion. What northern millmen are most 

 agitated over is the fact they have revealed to themselves that they 

 are selling their lumber for less than they can afford to sell it for. 

 While tlio actual surplus as it now stands would not bo considered 

 at all alarming l>ofore, millmen in the North are becoming pretty well 

 posted regarding operating costs, and it is becoming more and more 

 apparent as the situation is disclosed tluit to place business on a 

 business basis requires recourse to the law of supply and demand. 

 They realize that only a general reduction in cut could effect a return 

 to profitable selling prices, but are timid about taking the necessary 

 steps. In the South log cutting Ims been carried on in a conservative 

 way which has tended to prevent over-production. The situation in 

 the South is very well in hand, according to late reports, witli tlie 

 probability of better business, it being anticipated, by the middle of 

 September. 



The Cover Picture 



Nl'.WFOUNDLAND lies far away from what is commonly re- 

 garded as the lumber regions of America, yet some operations 

 on a large scale are found there, according to the sliowing of the 

 cover picture appearing with this issue of H.vrdwood Record. 



The island constitutes the most eastern portion of North America, 

 unless Greenland is counted as a part of America. The island is 

 practically all covered with forest growth of some kind, except 

 the lakes which include much of the country; but the trees are 

 usually small, for the climate is cold and the soil is sterile. The 

 most northern range of white and Norway pines is found in New- 

 foundland, and about a dozen other species grow there, which 

 attain their best development further west and south. Among 

 such are tamarack, black and white spruce, and balsam fir belong- 

 ing to the softwoods; and aspen, balm of Gilead, sugar maple, 

 white asli and yellow and paper birch among the hardwoods. 



The softwoods furnish nearly all the lumber sawed in New- 

 foundland, and most of the puljiwood. Sawlogs are always small. 

 Mos{ of the timber is more suitable in'size for pulpwood than saw 

 timber. The plant shown in the cover picture is at Grand Falls, 

 and is described as a sawmill, but a considerable part of the stock 

 on hand seems to be pulpwood. 



Newfoundland attracts many tourists in summer, but they stay 

 away in winter and the native population, except in the larger 

 towns, passes through several months of isolation during which 

 there is little communication with the outside world. This island 

 is the sportmau's and fisherman's paradise, provided he does not 

 incur tlfE severe penalties of the game laws. Hundreds of square 

 miles of the interior arc only jiartly explored, except near the 



