40 



HARDWOOD RECORD 



So|itoml>er 10, IU1&. 



J. K. WILLIAMS 



A. T. WILUAMS 



Williams Lumber Co. 



(MANUFACTURERS) 



WHOLESALE 

 HARDWOOD 



LUMBER 



Band Mill Planing Mill Dry Kiln 



FayettcTille, Tern. 



We manufacture PLAIN and QUAR- 

 TERED OAK, ASH, CHESTNUT and 

 other HARDWOODS 



Our Specialty is Quartered White Oak 



We Manufacture Dimension 

 Stock — Hickory a Specialty 



=-< PITTSBURGH >-= 



In nioHt ciisi'8 n (IlKlliut iiii|>r<>vi'in<<iit U iioii'il In tlio I'lttHburKli dis- 

 trict. Induslrlul O|irriillonii uro piirtlculiirlv i-ni-onrBKlni;. Stoi'l inlllH 

 nrc workhiK at nimost capacity nnd those ulilcli Imvi- war orUtTK are 

 very carefnl nbout tnkUiK on more new tiUHlnexB. Some Improvement Is 

 sii'U In colli opirntlonK. (ienenil nianufactiirliiu-, while It does not show 

 (he Knme Kain that Is 8ei'n In the steel buslniHS, Is nevertheless on the 

 upturn. I'rospects are fair for a good season In Khiss niaklne. olthouKb 

 stocks ore pretty heavy at present. These slu-ns of Industrial prosperity 

 are hound to be reflected soon In larger ordirs (or hardwood lumber In 

 the opinion of all I'lllsburith lumber wholesalirs. The tendency In prices 

 Is slightly upward. Mills are not overstockid and there Is a dlsposl- 

 linn lo hold on to k'ood lumber until prices advance. Yard tradi- shows 

 very little change. 



■< BALTIMORE >■= 



The hardwood trade situation Is practically unchanged, Impilry being 

 by no means active and the ranee of prlos comparatively low. The 

 domestic consumers have not yet begun to manifest such confidence 

 In the situation as would cause them to place orders with any freedom. 

 Thi' railroads are reiiorted to be buying niori- liberally, though not In 

 what might be called normal volume, and in various other directions 

 u slight improvement is evident. On the wliole, however, the compli- 

 cated international situation and other factors still operate against an 

 .•ictivf movement, practically uU woods belnu :ilTecle<l, and the range of 

 returns is so low as to make niurgins of prollt rather scant. It must 

 not be supposed, however, that the situation Is entirely devoid of en- 

 couraging features. Some evidences of recovery are to be noted here 

 and there, and the feeling In the trade Is distinctly better. The more 

 buoyant sentiment is not dependent merely upon prospects, but flnds a 

 basis in existing conditions, which are In the main encouraging. Aside 

 from the railroads, the lurniture manufacturers are more frequently 

 in the market. Many are discovering deficiencies ond shortages In their 

 assortments of slocks which must be made up, and It looks as if the 

 season for the furniture trade would be better. Throughout Pennsyl- 

 vania the woodworking establishments are manifesting a greater inter- 

 est in the offerings, and some of the Baltimore hardwood men have 

 returned from selling trips very much encouraged by the results of their 

 efforts. 



Of course, the business so far lacks that freedom of movement which 

 renders the more remote future secure, none of the mills and dialers 

 having much business ahead, but some progress in this direction Is being 

 made, and prices are somewhat firmer, though perhaps not any higher. 

 One of the troublesome features of the trade is the export situation, the 

 fornardlngs having been so heavy for some time past as to cause con- 

 gestion in a number of the foreign markets. The buyers on the other 

 side naturally take advantage of this state of affairs to hold out for 

 concessions, and prices have become more or less unsettled, with con- 

 signments thrown upon the open market being devoid of support, and 

 the shippers run the risk of incurring serious losses. Naturally, the 

 unfavorable turn of the export trade Is reflected here, the check upon 

 the foreign movement increasing the pressure at home. But with peace 

 prospects growing almost definite, the outlook Is more distinctly hopeful, 

 and the hardwood men feel that the future Is to be regarded with con- 

 fidence, the recent developments In the United Kingdom being viewed 

 as merely temporary. 



^-< CINCINNATI y- 



The consuming factories are exhibiting more liveliness, and the strong 

 Impetus which has been given the lumber market in Cincinnati within 

 the last few weeks Is directly attributed to the large volume of Inquiry 

 from consumers. Sluch of this already has materialized into good or- 

 ders and it is predicted that during the early fall there will be a boom 

 in the lumber business. Of course, the market will have to pick up Im- 

 mensely before it can be termed normal. 



While the conditions are all that could be expected in view of general 

 business stagnation, the volume of buj-ing and sel'ing is much below 

 previous seasons, yet in the Cincinnati district it is a gain over the 

 past few months. The strength of the market here Is a decided im- 

 provement over a month ago, with every promise of gaining from now 

 on until the probable maximum will be reached by the first snow fall. 

 There has been little under selling recently and those who have held 

 off in anticipation of still lower figures have been badly misled, for the 

 direct opposite Is true. Instead of any drop in quotations, there Is a 

 marked tendency toward a rising market, especially In gum. This wood 

 at present is the most active lumber on the market, but its sudden popu- 

 larity and increased demand for immediate shipment must not be con- 

 strued as any great boom. The heavy gum demand is attributed directly 

 to the recent interstate commerce decision which allows an increase in 

 the freight rates on gum. This ruling soon will go Into effect. Xat- 

 ur.illy there is a general rush from all sections to load up with all gum 

 needed for immediate business, and business hoped for. It is taken 

 for granted that there will be a distinct rise in the price of gum in- 

 stantaneous with the rise in freight rates. 



Yard men still are playing what appears to be an over cautious game 

 and are refusing to take any risks on being caught with an over stock. 

 This disappolDtlnc feature is not infrequently the cause of slow ship- 



