November 10, 1920 



HARDWOOD RECORD 



55 



The Hardwood Market 



CHICAGO 



Evidence of the tendency of prices of hardwoods to assume a stationary 

 position is the most hopeful aspect of the market in Chicago at the time 

 of going to press. Speaking of conditions in general, it appears that the 

 lumber manufacturers and wholesalers have reached a point beyond 

 which they can make no further concessions to the bearish buyers. Prices 

 will continue to fluctuate sporadically, of course, for some time, as some 

 operators will be forced to make sacrifice sales from time to time. There 

 has been no apparent quickening of the demand since the election, and 

 it still appears that trading will be at a minimum on the hardwood market 

 until after the first of the year. Consuming buyers are resisting any 

 effort to persuade them to cover their needs until after the first of the 

 year. It appears that the extreme tightness of the money market makes 

 it very difficult at this time for consumers to purchase lumber, and they 

 are only buying in instances where they actually have the orders to back 

 up the raw material needed. 



BUFFALO 



The demand for hardwoods has been small lately and no big improve- 

 ment is looked for in the near future, although with the election over 

 some increase in orders is expected. Consumers have been following the 

 plan of getting along without buying lumber or other materials. If they 

 could possibly do so. Judging by hardwood sales recently they have suc- 

 ceeded wonderfully. Prices have been unsettled and the mills apparently 

 are more willing than usual to make concessions. 



PITTSBURGH 



Hardwood wholesalers here are greatly pleased with Uardlng's victory. 

 They believe that it will help to stabilize business and that it will put a lot 

 of "pep" in general business after the first of the year. Trade in hard- 

 woods for the past two months has been very slow. Retail demand 

 amounted to practically nothing and manufacturing and industrial trade 

 has fallen by the wayside, because purchasing agents were looking for 

 lower prices. The furniture business and the automobile business both have 

 slumped off so badly as to leave a big vacuum in the hardwood trade. These 

 losses have been very badly felt. More business has been done with the 

 glass companies than with any other line of manufacturing lately. The 

 mining trade has been a big source of encouragement lately, for low and 

 medium grade hardwood has found a pretty ready market with those 

 buyers. 



BALTIMORE 



With the national election Intervening, the last two weeks have been 

 a period of marked quiet in the hardwood trade here, as might have been 

 expected under the circumstances. No expansion in the movement or 

 improvement in the tone of the market can be reported, though some 

 members of the trade cannot entirely resist the belief that with the big 

 political contest out of the way the business is likely to pick up. Thus 

 far it has been mainly a case of barren endeavor on the part of the hard- 

 wood producers and sellers to place stocks. Buyers were exceedingly 

 scarce and the orders placed were generally for small quantities of lumber, 

 enough, periiaps, to tide over a certain period. Prices appeared to be 

 without any real basis, sales being concluded generally for almost anything 

 in reason which could be obtained. And so far the anticipated turn for 

 the better has not yet set in. The quotations have declined to levels which 

 are prompting all of the mills In a position to do so to shut down alto- 

 gether or at least curtail the output materially. It cannot be said that 

 the stocks of hardwoods are large, but at that the demand is not stimu- 

 lated, the situation being regarded as fraught with too many uncertainties 

 to encourage the placing of orders. The producers contend that the range 

 of values has fallen below the cost of manufacture and that they will not 

 continue to run plants unless a readjustment with regard to cost can be 

 effected. In other words, advantage will be taken of every opportunity to 

 stop work until the employes are willing to take less pay and other things 

 also come down. The stocks held here are not large, and it is also to be 

 .said that the selections at points of production are relatively small ; so 

 that the market Is at least free from actual congestion. It is not now a 

 question of price, but of whether the lumber is actually needed. If not, 

 even a marking down of the figures will not tempt buyers to enter into 

 new commitments. No one knows how much, if any, lower the quotations 

 will go, but there is a general disposition to be on the safe side in the 

 event of further breaks. The foreign trade is no more encouraging. Buy- 

 ers on the other side of the Atlantic complain that the prices asked are 

 higher than they can stand, and the absorption is very slow. Shipping on 

 consignment, therefore, is to be earnestly advised against as likely to be 

 productive of serious losses. 



COLUMBUS 



The hardwood market in Columbus and central Ohio has shown con- 

 siderable weakness during the past fortnight. Buying by both dealers 

 and manufacturing concerns is strictly limited to present needs and there 



BRODHEAD-GARRETT CO. 



CLAY CITY, KENTUCKY 



Manufacturers of 



Hardwood Lumber 



White and Red Oak, Poplar, Chestnut, Maple and 



Basswood our specialties. Our stock is very soft 



in texture and of uniform color. 



DRY KILN AND PLANING MILL FACILITIES 



May we quote you on 

 our present stocks of 

 Southern Hardwoods 



Oak Poplar 



Chestnut Ash 



MANUFACTURERS 



HARDMOOD I.V] 



BAND mills: 



rAYETTVILLE.TENN. 



BASS.ALA. 



ESVETTVULEyTElIK. 



Tennessee Red Cedar 



{AROMATIQ 



Basswood 

 Elm 



OTHER HARDWOODS 



Maple 

 Walnut 



