18 



HARDWOOD RECORD 



April 10, 1921 



and is making some of his old equipment do in place of new pur- 

 chases. In the aggregate, though, it develops that shipments and 

 orders are still holding their own without production. In fact, 

 figures for a month's period up to March, 1921, show that with a 

 representative listing of mills both shipments and orders were sub- 

 .stautially above total cut. This is not at all strange, although the 

 fact that concrete figures can be offered to substantiate the claim 

 might probably be a surprise to many, who because of the great 

 laxity in business have come to consider it purely from the actual 

 rather than the comparative standpoint. That leaves an outstanding 

 consideration that all men interested in lumber either from a buying 

 or selling standpoint must bear in mind, namely, that production has 

 been gradually receding from its fixed high point and must without 

 question develop along a rapidly declining curve for the balance of 

 the year. On the other hand consumption has established a practi- 

 eallv low level with a tendency now towards an enhanced curve. 

 Prices can not do more than effect a steadily increasing stability 

 until those two lines approximately meet, at which time prices must 

 regain sufficient position to show a fair profit on production. This 

 contention is supported by the record of FAS hardwoods, the prices 

 of which are far out of line with markets on other grades, simply 

 because, while demand for all woods is very low, the supply of FAS 

 is lower than demand. Therefore what sales as are made bring in 

 good returns. 



Prices and Conservation 



ONE OF THE MOST STRIKING TRUISMS relevant to the 

 question of forestry of this country originated with a trained 

 forester whose sense of practical values caused him to always con- 

 sider that the extent of forestry development in any region is de- 

 pendent upon economic conditions underlying the merchandising 

 of forest products. The version of this forester has been: "That 

 forestry is best which pays best." 



There have been other foresters of ability whose theoretical 

 training was beyond criticism, but who were unwilling to admit 

 the truth of this quotation and were not able to place the the- 

 oretical and sentimental considerations of forestry development 

 on the solid foundation of common sense and economic practica- 

 Ijility. Their opinions have been over-thrown by the record of 

 forestry in this, country and conversely the version of American 

 forestry as terselj- expressed in this saying has been borne out 

 literally by results since the birth of the movement. Without the 

 application of pronounced socialistic doctrines, doctrines which 

 would confiscate private timberlands and compel their operation 

 under the direction of the rankest theorists, regardless of whether 

 or not such regulation would fit economic conditions, nothing even 

 approximating the programs advocated by the theorists and senti- 

 mentalists, whose voices were heard loud and often in the begin- 

 ning of the forestry movement, could possibly have been ac- 

 complished. 



And ytet we need to apply the beginnings of a common sense 

 forestry program which will give full and fair consideration to 

 practical phases of the case; which will recognize that the fallen, 

 dead twigs of a tree have no commercial value in this country 



whereas they are systematically gathered in Europe and there 

 justify a foresti'y culture almost as intensive as the culture of the 

 finest hothouse flowers. We need a forestrj' program which will 

 limit the experiments in the development of selective cuttings and 

 other advanced silvieultural programs to those forests which rep- 

 resent a long time investment, namely, government preserves, where 

 the problem is not entirely one of maintaining an industry in the 

 face of keen competition, but has linked with it sentimental and 

 aesthetic considerations. The lumbermen, in fact, are eager to 

 support any common sense forestrj' program which will give them 

 tlie consideration to which they are entitled. 



But, can the lumberman be blamed for insisting that forestry 

 legislation must not be so much a burden upon him as to threaten 

 tlie very existence of lumbering, the third largest American in- 

 dustry? It is not conservation to leave thousands of feet of gum 

 logs in the woods to rot, but on the other hand, it is rank and 

 unjustified extravagance to bring those logs to the mill then to 

 ])roduce lumber from them and put it in pile at a cost of from 

 five dollars to fifteen dollars a thousand feet more than the product 

 would sell for. It is not conserving our forests to cull out all but 

 the best oak logs, but when it costs fifty dollars to bring logs to a 

 central point like Memphis, manufacture them and pile the lumber, 

 with a selling price that returns thirty to thirty-five dollars for the 

 full product of the log, the sentimental phases of conservation must 

 ))e suspended. 



While the consuming industries have justifiably evidenced great 

 interest in the conservation of forests, they obviously can not be 

 expected to pay more for lumber merely in the interest of conser- 

 vation. At the same time the consumer's interest in conservation 

 is vital and genuine and his future is clearly linked with efforts in 

 this direction. He should therefore realize that the principles he 

 is now advocating are seriously jeopardized by the prices he is will- 

 ing to pay for the product of the forest. 



The point of this editorial is that the progress of forestry de- 

 velopment is and always will be parallel with normal markets. 

 When the utilization of this or that forest product can not be ac- 

 complished at a profit, it will not be effected. In direct converse 

 ratio to the declining curve of supply of virgin stumpage will come 

 an inclining curve of lumber values. As this incline develops so 

 will develop conservation and applied forestry. Today it avails 

 nothing to conserve a foot of by-product when the principal prod- 

 uct does not command on the open market even its cost of 

 production. 



That forestry is and alwa}'s will be best that pays best. 



Hardwood Case Postponed 



A WIRE RECEIVED FROM WASHINGTON, D. C, at the hour 

 of going to press, announced that the rehearing of the American 

 Hardwood Lumber Maniifacturers ' Association case had been post- 

 poned by the Supreme Court until October 10. 



The Supreme Court has had the association's appeal under advise- 

 ment several months, and onlv recentlv called for a re-argument. 



Table of Contents 



REVIEW AND OUTLOOK: 



General Market Conditions 17 & 18 



Prices and Conservation 18 



SPECIAL ARTICLES: 



Motion Study as a Basis of Correct Cost 19-21 



Proposed Hardwood Sales Code 28-29 



Merit of Plywood Should Be Capitalized 31-32 



Overcoming Walnut Seasoning Difficulties 34 



Evansville Market Is a Success 40 & 42 



POWER LOGGING AND LUMBER HANDLING: 



Swamp Logging with Tractors 48 & 52 



NEWS FROM THE NATIONAL CAPITAL: 



Miscellaneous 30 & 47 



CLUBS AND ASSOCIATIONS: 



Miscellaneous 54 & 55 



Wholesalers Re-elect McClure President 22-24 



Socialistic Trend Is Attacked 25-27 & 47 



HARDWOOD NEWS 57-61 



HARDWOOD MARKET 61-64 



CLASSIFIED ADVERTISEMENTS 66-68 



HARDWOODS FOR SALE 68-70 



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