Published in the Interest of Hardwood Lumber. American Hardwood Forests, Wood Veneer Industry, Hardwood Flooring, 

 Hardwood Interior Finish, Wood Chemicals, Saw Mill and Woodworking Machinery. 



Vol. XX. 



CHICAGO, MAY 25, 1905. 



No. 3. 



Published on the 101b and 25th of each month 



By The HARDWOOD COMPANY 



HENRY H. GIBSON 

 FRANK W. TUTTLE 



President 

 Sec-Treas. 



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 Sixth Floor Ellsworth Bldg., 355 Dearborn St., Chicago, III., U.S.A. 



Telephones: Harrison 4960. Automatic 5659. 



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General Market Conditions. 



As will be noted by the individual market letters from the numer- 

 ous correspondents of the Hardwood Record, from the leading hard- 

 wood trade centers of the United States and abroad, general market 

 conditions do not look quite as well as they did a couple of weeks 

 ago. There seems to be a little hesitation about placing orders on 

 the part of buyers and several trade centers in the middle West and 

 South report a slight diminution of demand. 



In all the eastern trade centers, however, the situation looks very 

 well indeed. Orders are increasing and prices are strengthening on 

 all leading woods. There seems to be a veritable building boom 

 throughout the country and such materials as enter into house finish 

 ing have a large call, and the factories consuming hardwoods gen- 

 erally are very busy and their requisitions are large. With con- 

 tinued easy money it is safe to assume that the slight lull is only 

 temporary and not a forerunner of a dull summer trade. 



In Chicago there has been a remarkable falling off of buying 

 demand from the large jobbers, as strike troubles which have pre- 

 vailed for about six weeks, still unsettle all business and, while it 

 is only recently that the strike has actually assailed the lumber 

 business, the general effect has been to reduce the volume of trade 

 materially. 



The demand for oak still continues strong in nearly all directions, 

 with values ranging high. 



The short stock of first and second poplar is stimulating pur- 

 chases in that grade of the wood, and is giving a reflected impetus 

 to the value of the good end of basswood. 



Maple is Strongly holding its own, and notwithstanding the large 

 output is commanding perhaps the highest average prices in its 

 history. 



The cypress demand is strong and increasing in all directions, 

 and it is already known that the dry lumber available during 1905 

 will be insufficient to compass the requirements of the trade. 



White ash, black ash, hickory and rock elm, all woods of compara- 

 tively light production, are generally in excellent demand. 



Chestnut is one of the leaders of the market, while cherry and 

 walnut maintain the even tenor of their way with no accumulation 

 in first hands or in the yards. 



The immense demand for box material is making heavy inroads in 

 the available stock of Cottonwood and the good end of the wood is 

 taking care of itself nicely. Although in increased call, red and 

 tupelo gum seem to be in full supply for prospective demands at 

 satisfactory prices. 



Both the oak and maple flooring business is reported excellent 

 at full list. 



Mahogany seems to be in better call in this country than on the 

 other side of the Atlantic, and there is an increased employment of 

 the wood in the finishing of high class office buildings. 



The manufacturers of furniture, coffins, wagons and agricultural 

 implements seem to be busy, and are all cutting up large quantities 

 of lumber. 



The veneer people are making no complaints. However, some 

 plants are extremely busy, while with others business is somewhat 

 slack. 



There seems to be an increasing number of small plants being 

 put into commission in various parts of the country, for the manu- 

 facture of small wooden articles. 



Living On Our Capital. 



An English timber merchant, in commenting on American affairs 

 recently, said to the editor of the Hardwood Eecord that it ap- 

 peared to him that the lumber business of the United States was 

 conducted on lines which in ordinary commercial parlance would 

 mean that it was "living on its capital." 



Unfortunately the Englishman 's estimate of lumber conditions in 

 this country is but too true. We are extravagant and wasteful users 

 of our forests. We not only use twice as much wood per capita as 

 any other nation, but in many instances we use five, ten, fifteen and 

 even twenty times as much lumber as any other people on earth. 

 Again, to a large extent we not only supply our own real and 

 artificial needs for forest products, but we are extremely generous 

 in supplying a large portion of the civilized world with our lumber. 

 The fact is well known to practically every student of lumber 

 economy, that the United States is at the beginning of the end of 

 its forest supply, and the cry that has gone up and the effort that 

 is now being made to reforest considerable areas of our lands 

 should also be supplemented by measures to restrict the immense 

 waste that is now going on. In other words, means should be 

 adopted to economize in wood consumption and such forest areas 

 as are penetrated should be cut on lines looking toward preservation 

 of the small timber unsuitable for sawmill purposes. 



For argument's sake, at least, it may be conceded that when the 

 last lumber tariff was enacted by the American Congress, imposing 

 a duty of two dollars a thousand feet on Canadian lumber, that the 

 measure was just and reasonably necessary. The law was enacted 

 at a time when the markets of the country were overflowing with 

 coarse lumber, and the imposition of this duty was a relief to the 

 manufacturing element of the trade in that it excluded to a con- 



