February 10, 1921 



HARDWOOD RECORD 



59 



Up to the present time these Industries have not increased their pro- 

 duction to such a point as to use up their stoelis and it is likely to be a 

 <roupIe of weeks before there is any considerable buying done by them. 

 However, the retail yards are reporting an exceptionally good demand 

 for hardwoods. Jobbers say throughout the Indiana territory there is 

 some increased demand, the rural trade again coming to the front with 

 some orders. At the present time most of the buying is for mixed cars, 

 few solid cars being received. 



EVANSVILLE 



While there has been little change in the local hardwooil lumber market 

 during the early part of February, there is a better feeling in the market 

 and a few more inquiries are coming, and in the opinion of the manufac- 

 turers the month of February is going to be a better month than the montli 

 ■of January. January was rather sluggish, and as one of the leading 

 manufacturers of EvansviUe said the other day : "There was absolutely 

 nothing doing." But for the past two weeks optimism has been gradually 

 returning, and it is believed that by the first of March or the first of 

 April there will be a marked improvement in the situation. Reports from 

 many points tell of large hardwood mills that are getting ready to start 

 \ip within a short time. The large mill of the Maley & Wertz Lumber 

 Company here has been operating steadily since the business depression 

 started several months ago, and Daniel Wertz, the president of the com- 

 pany, says the plant will continue to run as long as the company can get 

 the logs. Few logs are now coming in from the southern logging centres, 

 owing to the inclement weather conditions that have existed for several 

 weeks. A few logs, however, are coming in from the Green river country 

 in western Kentucky, although not as many logs are being turned out in 

 that section as there were in November or a few months before that. Log 

 prices are rather high. The trade horizon has been clearing gradually for 

 the past few weeks, collections are some better and this has stimulated the 

 manufacturers and led them to believe that the worst of the trade depres- 

 sion is over and that they have now crossed the worst trade streams and 

 ought to have calmer sailing from this time on. 



MEMPHIS 



The hardwood market continues rather quiet. There are admittedly 

 more inquiries than there were a short time ago. and it is agreed that 

 there is rather more business passing. Still, it is conceded that demand is 

 quite restricted even yet, and that there is no immediate prospect of 

 prompt resumption of buying ou the part of consuming and distributing 

 interests. The expected revival of domestic and foreign l)uying has not 

 materialized, and there is growing disposition amon^ members of the trade 

 here to believe that this will be rather slow in making itself felt. 



Manufacturers of furniture are doing more looking around than for some 

 time and some few have placed fair-sized orders.' There is apparently. 

 however, no disposition on their part to anticipate their requirements. 

 There are exceptions to this general rule, but they are too few to be 

 important. Automobile manufacturers are showing very little interest 

 in hardwood lumber. The Imilding trades are severely crippled by the 

 tightness of money and the high wages demanded by labor, with the result 

 that there is very little demand for flooring, interior trim or anything 

 else in the hardwood line from that source. Manufacturers of agricul- 

 tural implements are likewise taking plenty of time for placing orders, as 

 they are generally finding the "going" rather rough in view of the tre- 

 mendous decrease in the value of farm products, a decrease so staggering 

 that it has seriously affected the purchasing power of agricultural inter- 

 ests In all parts of the country. The railroads, too. have proved rather 

 disappointing customers during the past month. They are confronted with 

 decreasing revenues and are not undertaking anything like the rehabilita- 

 tion program contemplated in the light of the tremendous advance granted 

 in their revenues late last summer. 



A prominent mend>er of the trade here is authority for the statement 

 that one consumer using approximately 4,500.000 feet of lumber annually 

 has announced his intention of securing his requirements for the entire 

 year on the basis of prevailing prices, but he is one of the exceptions tr) 

 which reference has already been made. The majority of the trade here 

 report little, if any, improvement, beyond that reflected in a decided 

 increase in the number of inquiries and in only a very modest gain in the 

 number of orders actually booked. 



It may be stated that quite a fair increase in hardwood nutput is prob 

 able during the next sixty days as a result of the resumption of opera- 

 tions on the part of a number of manufacturers who have been idle from 

 two to five months. In virtually every instance where resumption is 

 contemplated, it may be noted that this is the result of the necessity of 

 preventing loss rather than of a desire to put additional lumber on sticks. 

 Quite a number of manufacturers shut down their mills before they cut 

 up the logs they had on their yards or in process of delivery, and these 

 are planning to resume in order that they may prevent these logs from 

 becoming a total loss. They propose to I'un their mills until they have 

 saved this timber and then they expect to close down again unless there 

 is material improvement in the hardwood situation in the meantime. 

 There are only a very few firms operating their plants through choice. 

 .\nd the prediction is freely made here that, at the end of the next sixty 

 to ninety days, during which period practically all the logs now awaiting 

 conversion into lumber can be taken care of. there is likely to be the 



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