Fi'ljiuaiy 10, 1921 



HARDWOOD RECORD 



61 



sequentlj- volume is lacking. Piano and talking machinp manufacturers 

 are going through a slack season and will probably do very little buying 

 until their present heavy stocks have been worked down. 



Mills in the north are making shipments right along, with the effect 

 that stocks in mill yards are steadily being reduced. Production, at the 

 same time, is not keeping pace with the t^hipments out of stock, so that 

 it is likely that in another month or two the supply of lumber available 

 for immediate delivery will be at a minimum. With the approach of 

 spring a wholesome improvement in the demand is expected, and before 

 the close of the year it is not unlikely that a shortage of stocks will 

 confront the trade. 



BEAUMONT 



Outside of some activity in the box material trade, there has been little 

 change in the hardwood market in this district during the past two weeks. 

 Manufacturers point out that there has been a broadening in the demand 

 and this may have some bearing on the immediate future, but no one i.s 

 gambling on it to the extent of increasing their production. 



The woodworking plants over the state report considerable employment, 

 in some cases reaching 50 percent. From present indications, this condi- 

 tion may be further intensified unless there is a better crop movement. 



In Texas and Louisiana, the principal trouble in returning to prosperity 

 and bring about general employment in the rural districts, is a more 

 healthful crop movement. Cotton and rice are two of the big products 

 and neither is in demand. In the rice region reaching from the Mississippi 

 to practically the Rio Grande, the product is below the cost of production 

 and can not be moved at that figure. In Jefferson county, the largest rice 

 growing county in Texas, the farmers, as a rule, have made no attempt to 

 start planting. At this season of the year there is usually 30.000 acres 

 readj"^ at this season of the year for planting, but at the present time, 

 there is less than 1.000 acres turned. Many of the rice farmers have gone 

 broke and they will hardly be in the market for anything during 1921. 



With these conditions in view, the hardwood consumption in Texas 

 during the present year is going to be confined almost entirely to the 

 cities. A 25 percent slump in oil on February 1 brought that product 

 down to a point where it will have a tendency to arrest further drilling 

 operations until a better market is available. 



LIVERPOOL 



"In the year just ended traders generally have experienced an anxious 

 time, owing to the gradual decline in value of all commodities from the 

 high prices established during and since the war," the "Annual Wood 

 Circular" of Edward Chaloner & Company of Liverpool, England, says. 

 "Owing to the depreciation of continental currencies the majority of the 

 European nations can not buy our goods, and this fact is intensified by 

 the attitude of our trade unions, which, in spite of the contracted outlet, 

 demand yet higher wages, thereby increasing the cost of production. No 

 doubt in time the unions will be forced to bow to the logic of events, and 

 be prepared with the rest of the community to bear their share in the 

 painful process of reducing costs in order to secure a fair share of the 

 world's trade in competition with other nationalities. 



"The timber trade generally started the year with high ho|)es of con- 

 tinued prosperity, but as the year progressed it began to be realized that 

 the purchasing power of the community was reduced, and that the volume 

 of trade was gradually being limited to supplying pressing and immediate 

 wants." 



In other sections of the report, which covers virtually all the important 

 woods handled commercially in the British Isles, reference is made tn 

 American walnut and American hardwoods in general. "Walnut — Amer- 

 ican : There has been a small import of logs during the year, which met 

 with prompt sale at the quay at full values. The supplies of boards have 

 bi'cn limited, owing to the high cost of importation and the dullness of 

 tlie market. Stocks held over from last year have been very much reduced. 

 and if the furniture trade should improve these will soon be exhausted. 



"American Hardwoods: In the first quarter of the year these goods 

 were being sold at extremely high prices, owing to the impossibility of 

 importing fresh supplies caused by high freights and the adverse American 

 fxchangt'. Owing to strikes which occurred in the furniture trades 

 demand fell away, but as imports did not come in holders did not reduce 

 their prices. This dullness in the demand continued, however, when the 

 strikes were settled, and instead of an improvement taking place, as gen- 

 erally anticipatefl, the state of trade universally became worse. In the 

 last three months prices have decreased verj' considerably without induc- 

 ing large consumption. Wagon oak planks have come forward in very 

 moderate quantities, the trade in these planks being very much reduced. 

 Wagon builders are reluctant to pay the high prices asked for American 

 planks and are using a much larger quantity of English oak for their 

 ri'quirements, the latter being very mugb cheaper. Coffin oak planks are 

 not in request as iu former years, buyers having got into the habit of using 

 Euglish elm for their purpose." 



What is said about Japanese oak is also interesting from the American 

 standpoint : "Moderate quantities of logs and boards have come forward 

 during the year. In sympathy with other furniture woods prices have 

 declined, but. nevertheless, there is a steady demand for these goods at the 

 lower values now ruling." 



VESTAL LUMBER 

 & MFG. COMPANY 



INCORPORATED 



Soft Textured Oak 



Poplar 



Black Walnut 



Tenn. Red Cedar 



KNOXVILLE, TENNESSEE 



BAND MILLS AT VESTAL 



A SUBURB OF KNOXVILLE 



FONDE, KY. 



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i Plain & Qtd. Red & White i 



OAK 



Even 



Soft 



Color AND OTHER Texture = 

 HARDWOODS | 



ioft Yellow Poplar | 



MADE (MR) RIGHT 



I OAK FLOORING f 



I PROMPT SHIPMENTS | 



I The MOWBRAY I 



I & ROBINSON CO. I 



= (INCOBPOBATID ) S 



I CINCINNATI, OHIO | 



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