16 



HARDWOOD RECORD 



February 2r.. 1921 



ini|>r(ivcim-nt will be iiiuio rapid after the spring building season starts. 

 Ketall stoiks are rather low and dealers are expected to come into the 

 market soon. 



Also, iiecordiiig to tlie observation of our experienced corre- 

 spondent in Baltimore, the number of hardwood men there who 

 have begun to feel a turn for the better has undergone a notable in- 

 crease in the past two weeks. He says : ' ' Quite a number of potential 

 buyers have reached the conclusion that the reaction iu prices has 

 proceeded about as far as it will go, and that they can not well go 

 wrong in making provision for some of their raw material needs." 

 Tlie same word comes from Buffalo, where our correspondent 

 reports a good many inquiries received for various iviuds of stock 

 showing that the consumers are looking for improved business condi- 

 tions even if they are not willing to commit themselves for pur- 

 chasing at present. Better reports, too, are heard from the furniture 

 trade there than for some time past. 



The following quotation covering the Louisville situation is 

 equally pertinent: 



There has been an increa.'^ed inquiry from the retailers for hardwoods 

 for interior trim and Iiardwood liooring, and it is beginning to look as if 

 there will be a fair volume of building demand. A good deal of commer- 

 cial work is starting, or in ijrospect, and residence work is looking more 

 promising as a result of lower and steadier markets, and the fact that 

 better arrangements for financing liome building are to be had. Railroad 

 car builders are taking more material, as most of the car plants have very 

 fair orders. 



The optimism of the northern markets is well typified by our 

 Milwaukee correspondent, who eoyers the lake state region above 

 Chicago, and who bv virtue of a broad organization, is constantly 

 in touch with all new developments: 



While the process of readjustment continues slow and taiigililc cNidencc 

 of improvement in business is rather Imlting in development, nevertheless 

 conditions iu the local hardwood market are regarded as being more and 

 more encouraging. The furniture trade is again becoming a factor in tlie 

 market, and although the volume of purchases remains limited, the situa- 

 tion is growing better steadily, and much is expected in the way of a re- 

 vival of demand from this source within the coming ftuir to six weeks. 



From the above citations it is cleai'ly evident that unbiased 

 observers are capable of noting a definitely strengthened tone. It 

 is not the intention in any sense of our correspondents, nor this 

 department, to indicate a big improvement, for such does not exist. 

 In fact, it is quite likely that prices iu some items will reach new 

 levels in spite of present indications of gradually renewing strength. 

 That revival, though, will continue to show a steady measure of 

 acceleration which iu due time will overbalance the tendency to 

 pull prices further downward. It is, in fact, our specific intention 

 that the best factor of returning business will be stabilization. 

 Indeed, business men are considering the early evidences of a new 

 era as fortunate, inasmuch as it indicates a very gradual process of 

 adjustment which is very essential to a permanent fixing of new 

 levels. 



Hardwood Record adheres as strongly as ever to its belief that 

 the depression will ultimately wear itself out, and that the worst 

 has passed. There are accumulating reasons for confidence in basic 

 conditions, but because of the very magnitude of the readjustments 

 essential to a permanent improvement, the pull upwards must be 

 slow at first. Confidence above all other things is required. Con- 

 fidence on the part of manufacturers and distributors that will 

 enable them to govern their selling activities with due regard for 



the future, and gradually growing confidence on the part of the 

 public which will bring them increasingly in the market. 



It is significant that statistics prove a rajiid liquidation of retail 

 stocks in all commodities since October, the liquidation continuing 

 practically up to the present. Based on one hundred ]ier cent as i 

 representing stocks on hand .June, 1920, it is shown that at the end 

 of December they were approximately eighty-five per cent of June 

 inventories. Price reductions of January materially increased this' 

 stock reduction, and it is probable that this tendency has continued 

 through the present month. This means stocks in commodities 

 handled in everyday business to the consuming public, and further 

 means that with stocks so radically reduced, a sprinkling of replace- 

 ment orders must so^n make their appearance. A real beginning is 

 all that is necessary to bring trade back on the clearly blazed trail 

 to the return to prosperity. That beginning has, according to the 

 best evidence H.\rdwood Eecord is capalde of showing, actually 

 lieen launched. 



Government Operation Must Be Opposed 



IN THE INTEREST of the continuation of what freedom from 

 governmental meddling it still enjoys, it is up to the lumber 

 industry to join witli the other commercial and industrial interests 

 of the country iu opposing the jiassage of the Federal Live Stock 

 Bill and the Federal Coal Bill. 



These bills not only purpose to impress upon the live stock and 

 coal industries, respectivcl.y, a degree of governmental regulations 

 tli.it amounts to substitution of government for private operation, 

 and goes far beyond any former attempt at governmental regula- 

 tion, but they threaten tlie ultimate nationalization of every large- 

 industry iu the country, having the slightest aspect of public 

 utility. If these bills are permitted to pass into the status of law .1, 

 jirecedent will be established against jn'ivate operation of industry 

 which it would be most difficult to overcome. If America is to 

 continue to pursue its present march of greatness the freedom of 

 Ainericau enterprise must be protected against the withering effect 

 of socialistic control. Such control must lie ojiposed with uucom- 

 jn-omising vigor at every point of attack. 



Hardwood Record is gratified to find that the National Whole- 

 sale Lumber Dealers' Association is co-operating with the Chamber 

 of Commerce of the United States in arousing American business, 

 against these two measures. The association's request that yoa 

 wire and write to your senators and congressmen, asking them to 

 oppose the bills, should be promptly acted upon. 



The Federal Live Stock Bill and the Federal Coal Bill originated 

 in the Senate, and since the former bill went to the Hou.se Commit- 

 tee on Agriculture the House committee has, voted to strike out all- 

 after the enacting clause and substitute provisions which are more- 

 moderate in character. However, the necessity for opposing these ■ 

 measures is not lessened, for if the House passes the bill in its more 

 moderate form, it will then have to go to conference and the 

 Senate's radical provisions may be restored. As the Chamber of 

 Commerce of the United States points out, "It is still of the utmost 

 importance that the individual members of the Senate and House 

 be advised of the sentiment of the country in respect to the prin- 

 cijilcs of government control iu the coal and packers' bills. 



REVIEW AND OUTLOOK: 



General Market Conditions 15-16 



Government Operation Must Be Opposed 16 



SPECIAL ARTICLES: 



Palmer Attacks Southern Pine Interests 17 



Lignum-Vitae Imports 18-19 



Central Forestry Conference Formed 20-21 



Rate Conference Comes After March 4 21-26 



The Southern Hardwood Situation .47-48 



What Is Good Kiln Drying? 23-25 



POWER LOGGING AND LUMBER HANDLING: 



Horse and Motor Truck Logging System Saves $5,000 in Three Months... 28 



NEWS FROM THE NATIONAL CAPITAL: 



Miscellaneous 22 



CLUBS AND ASSOCIATIONS: 



Miscellaneous 51-53 



Quixley Tells Wholesalers to Cheer Up 2« 



Plywood Manufacturers Adopt Grading Rules 31 



Table of Contents 



HARDWOOD NEWS 55-M 



HARDWOOD MARKET 58-63 



CLASSIFIED ADVERTISEMENTS 64-66 



HARDWOODS FOR SALE 66-68-70 



ADVERTISERS' DIRECTORY 63 



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