September 25, 1915. 



HARDWOOD RECORD 



47 



locally, so far, retail and factory trade have had no difficulty securing 

 needed supplies. Prices are still off the line and while the dealers are 

 hopeful, and some even willing to hold their lumber for a fair price. 

 the price cutters are still in evidence, though it must he said on a 

 smaller scale than formerly. Hardwood flooring is In fair call with 

 prices unchanged. The outlook for this trade is good and the price situa- 

 tion is causing less concern in that quarter. 



=-< BUFFALO y 



The hardwood trade Is about holding Its own, with Improvement gen- 

 erally expected, but so far coming along slowly. It seems likely that 

 trade this month will exceed that of August, though some yards, say they 

 see no particular increase in the voUimo of their sales. The furniture 

 factories are not doing much aad some of the trim concerns, having 

 found business unsatisfactory, are said to be closed down for the time 

 being. The building line Is quite active and industries making automo- 

 biles and Cither vehicles, as well as those turning out gunstocks, have 

 plenty of business. 



The high-priced woods, including mahogany and quartered oak, ai-e 

 quiet and other woods of a cheaper sort are going into a larger part of 

 the furniture turned out these days. Black walnut is in good demand 

 for gunstocks, hut supplies of the size wanted are small. Poplar and 

 basswood are slow and the low grades are reported weak in price. 

 Plain oak is in fair demand, but does not show much gain, either in 

 price or volume. Ash and maple are the woods which are generally 

 called among the best sellers and strongest in price. A good many cars 

 of these woods have been disposed of recently at different yards. Cy- 

 press holds up well in price and sales are comparing favorably with 

 those in most other woods. 



:< PITTSBURGH >-. 



Wholesalers here are much encouraged by the Increasing inquiry from 

 big manufacturing and industrial concerns and especially from the rail- 

 roads. The steel mills are taking much more lumber for repairs and 

 extensions than a few months ago. .-Vlso. the coal mining industry is 

 gradually coming back to form and larger sales are made in this direc- 

 tion. Railroads are putting in better requisitions for lumber. They are 

 restricting these, however, with limited prices and on this account some 

 good orders have been returned this week. There is an excellent tradi- 

 in hardwoods at present with the window glass companies, and large 

 shipments are being made to automobile concerns at good prices. Yard 

 trade Is quiet. 



=-< BOSTON >= 



The anticipated improvement in the hardwood trade for the fall season 

 is being felt to a moderate degree in New PJngland, the first and most 

 natural result being in the number of orders placed for prompt ship- 

 ment. Minimum purchasing for a long period has had the expected 

 effect, the policy of the dealers has been based on confidence in the 

 return of better business and with these two influences operating, the 

 great advance in general industries is certain to keep a strong hard- 

 wood market in nearly all items, activity being at present noticed in 

 walnut, maple, thin poplar and chestnut. 



=■< BALTIMORE >-= 



The hardwood situation remains unchanged. The trade, however, is 

 not without some improvement, the furniture manufacturers buying with 

 greater freedom and the railroads being in the market to an extent 

 lately wanting. Thus, despite all the handicaps, the hardwoods have 

 made some headway, though for the present no actual increase in the 

 quotations is to be' noted. Prices have remained stationary, but an 

 appreciably firmer tone may be said to prevail. Though the producers 

 are so far unable to get the list up to more remunerative figures, the 

 needs of the buyers have become so urgent that they will not hold back 

 for a reasonable difference. For that matter, the trouble has never been 

 so much with getting n price for lumber actually needed as with hav- 

 ing purchasers go ahead of immediate requirements. When the yards 

 and consumers could get along with the stocks in hand they refused to 

 place orders. Now the point seems to have been reached where the 

 users of hardwoods allow themselves more latitude, and the effect upon 

 hardwoods generally has been a hardening of prices. Stocks are not 

 heavy. In some divisions of the trade scarcity may be said to prevail. 

 and the hardwood men appear to be rapidly approaching the stage where 

 an increase in the output will be called for. The better feeling extends 

 to all of the woods, with oak and chestnut especially affected. The 

 pne division concerning which a measure of apprehension is felt is the 

 export business. Lumber has been going forward in such quantities as 

 to cause serious congestion in various markets, among them London, Liv- 

 erpool and Glasgow, and the accumulations there are not merely prompt- 

 ing the buyers to hold out for lower prices, but since they consist of 

 large quantities of unsuitable stocks, they hold out a prospect of caus- 

 ing heavy losses to the shippers. This is one of the most serious aspects 

 of the situation. The exporters evidently have enormously overesti- 

 mated the requirements of Great Britain and other countries able to 

 receive lumber. Not only does the market show the effect of the dump- 

 ing at once of a large number of shipments held for a time at the be- 



OUNDNESS 



Read]) Resources $925,845 



URPLUS 



and Reinsurance Reserve. . . 856,634 



AVINCS 



Returned to Subscribers. . . . 546,757 



ERVICE 

 6Q-day Inspections; Monthly Fire Bulletins. 



These are some of the vital features 

 upon which the management of the 



Lumbermen's Underwriting 

 Alliance 



bases its plea to the LUMBERMEN FOR 

 A SHARE OF THEIR Insurance Lines^ 

 These safeguards are the result of TEN 

 YEARS of successful underwriting. 



$155,000.00 



in CASH DIVIDENDS went into the treas- 

 uries of ALLIANCE Policyholders in 1914. 

 Owners of protected plants, with five or 

 more years' timber supply, are invited to 

 become identified with us. 



U. S. EPPERSON & COMPANY 



Attorney and Manager, KANSAS CITY 



Over 



One Million Dollars 



in savings has been returned its members by the 



Manufacturing 

 Lumbermen's Underwriters 



and there remains to the credit of members over 



Nine Hundred Thousand 

 Dollars 



The membership, which is constantly increasing, 

 is now composed of nearly four hundred and fifty of 

 the best saw mill plants in the country. Insurance in 

 force exceeds thirty-five million and nearly three 

 million dollars has been paid in losses. If you have 

 a first-class plant adequately protected and are inter- 

 ested in low cost fire insurance, correct policy fortns, 

 an inspection service which may save you from a dis- 

 astrous fire, with the certainty of a prompt and 

 equitable adjustment in case loss does occur, and 

 wish a list of members and annual statement we will 

 be glad to hear from you. 



Rankin-Benedict Underwriting Co. 



HARRT B. CLARK 



W»at«ra R«pr«fl«ntfttlT« 



Portland, Or*. 



Attorney in Fact 



KANSAS CITY, MO. 



