54 



HARDWOOD RECORD 



December 10, 1920 



OAK 



Sound, Square-Edge Plank 



TIMBERS 



A.SH,COTTONWOOD,GYPRESS,ELM,GUM 



WIDTHS, LENGTHS. & 

 GRADES TO PLEASE 



Pelican Lumber Company 



MOUND, LOUISIANA 



COMMODITY PRICES 

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CONSULTING OFFICES, 56 Pine Street, NEW YORK 



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SIMONDS 



Inserted Tooth 



SAWS 



Stand Heavy Feed, Hold Their Tension 

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SiMONDS Manufacturing Co. 



"THE SAW MAKERS" 



FITCHBURC. MASSACHUSETTS 



MEMPHIS. TENN. CHICAGO. ILL. NEW ORLEANS, LA. 



greater thl.s sumiiuT ami fall tban ever known for the simple reason that 

 for lack of prompt transportation, logs had to be left exposed for such 

 long periods. 



While some business has been transacted -with the railroads in No. 3 

 (lak and other low-grade items, the fact remains that there has not been 

 anything like the buyiug from this source anticipated. Several orders have 

 been booked here during the past few days, running from 50,000 to 200,000 

 feet in No. S common oak but, generally speaking, the railroads are not 

 entering upon their rehabilitation plans, especially as to equipment, to 

 the extent counted upon. 



There is very little inquiry tor interior trim or flooring and this is a< - 

 cepted as indicating limited activity in building circles throughout the 

 United States. It is generally believed, however, that construction of 

 homes and other building will receive new impetu.s after the turn of the 

 year, especially as there is reliable promise of considerably easier money 



rates. 



BUFFALO 



The hardwood market shows little activity ajid dealers cxpt-ct that n 

 small volume of bu.siness will be seen during the remainder of the year. 

 It is hard to find customers who are desirous of bu.ving anything not needed 

 for immediate use and until inventories are completed this policy will 

 probably be continued. Many Industrial plants are either closed down 

 for a few days or weeks, or else running at reduced capacity, and some 

 expect to do no buying at all until after the new year begins. 



Prices are unsteady, with some mUls anxious to dispose of stocks and 

 realize the money, even though a sacrifice may be necessary. Within a 

 short time it is expected that less of this forced selling will be in evidence 

 and a stronger market is looked for soon. .\ large number of mills are 

 said to lie closed down, yet offerings arc anij)le. l>ecline*» have not been 

 so marked, however, a.s a few weeks ago. 



BALTIMORE 



Conditions in the hardwood trade here are much the same as they have 

 been, with the difference that at least some of the members have about 

 reached the conclu.sion that the end of the depression has come and that 

 prices are not likely to go lower. Whether the market will now move 

 upward is quite another question. There seems to be somewhat more 

 inquiry, indicating that the users of hardwoods have .Tbout exhausted their 

 supplies and must make additions if they want to keep going. Meanwhile, 

 many of the mills have suspended operations either on the plea of making 

 repairs or overhauling the equipment, or have shut down indefinitely with 

 a view to awaiting a readjustment in the cost of production. The number 

 of these closed mills has undergone a material increase of late, with every 

 prospect that the shutdown will extend at least over the holidays and 

 end of the year. The range of prices remains very unsteady. Wide differ- 

 ences in the figures even of various mills in any nno locality are t<) be 

 noted, these differences sometimes amounting to more than the very liberal 

 profit.s. What buyers cannot understand is how there could be such dif- 

 ferences unless the margins have been very large. As a matter of fact, 

 much lumber has been sold below- actual cost at this time. But of course, 

 such a course cannot be pursued without a limit, and the producers have 

 reached the point where they deem it neces-ary either to maintain returns 

 or to cut down the cost of manufacture. Meanwhile there is every likeli- 

 hoo<l that the natural requirements of the country, held in abeyance for 

 a long while, will reassei-t themselves, and when this happens it is not at 

 all improbable that a positive shortage of stocks will be disclosed, with 

 the quotations advancing. .Tust now the buyers are afraid to place orders 

 lieyond their immediate wants because of the possibility of a further 

 decline, and not until there are definite signs of a turn upward can the 

 calls for stocks be expected to take on real life. There are reasons for 

 assuming that the so-called technical condition of the market is better 

 now than it has been for many months, so that when the revival once sets 

 in it will cause a decided swing of the pendulum in a direction opposite to 

 tluit witnessed since last summer. The foreign business has developed 

 nothing of an especially encouraging nature. iiuyers abroad are still 

 holding off. having no important needs to take care of in the face of the 

 unfavorable exchange and the unsettlement in Europe. 



COLUMBUS 



The hardwood trade in Columbus and central Ohio territory has ruled 

 'ather quiet during the past fortnight. Business is at a standstill along 

 certain lines, partially as a result of unsettled business conditions and 

 partly as a result of the approach of the .semi-annual inventory period. 

 Orders from both retailers and factories are restricted to present require- 

 ments and scarcely anyone is taking chances by purchasing for the future. 

 The tone of the trade is not good and prospects are tar from being bright. 



Retail stocks are low in all sections, judging from reports made by 

 traveler.s. But only when absolutely necessary to replace broken stocks 

 are orders given. Building operations have quieted down to a large 

 degree and as a result dealers are not pushed into placing orders. Ship- 

 ments are coming out promptly as there is now little trouble from car 

 shortage. 



Factories making boxes are the best customers among manufacturing 

 concerns. They are buying low grade poplar and basswood. Furniture 



