54 



HARDWOOD RECORD 



Urcrmbrr 2&. ItH' 



OLWDXESS 



Rcadx Resources $925,845 



URPLUS 



and RetnsurarKe Reserve. . . 856,634 



Returrjed to Subscribers. . . . 546.757 



ERl'lCE 

 60-da\; Inspections; Monthly; Fire Bulletins. 



These arc some of the vital features 

 upon which the mntin!::emcnt of the 



Lumbermen's Underwriting 

 Alliance 



bases its pica lu ihc LL.MUKRMEN FOR 

 A SHARE OF THEIR Insurance Lines. 

 These safeguards are the result of TEN 

 YEARS of successful underwriting. 



$155,000.00 



in C.\SH DIVIDENDS went into the treas- 

 uries of ALLIAN'CE Policyholders in 1914. 

 Owners of protected plants, with five or 

 more years' timber supply, are invited to 

 become identified with us. 



U. S. EPPERSON & COMPANY 



Attormey »n4 Manager, KANSAS CITY 



Over 



One Million Dollars 



in savings has been returned its members by the 



Manufacturing 

 Lumbermen's Underwriters 



and there remains to the credit of members over 



Nine Hundred Thousand 

 Dollars 



The membership, which is constantly increasing, 

 is now composed of nearly four hundred and fifty of 

 the best saw mill plants in the country. Insurance in 

 force exceeds thirty-five million and nearly three 

 million dollars has been paid in losses. If you have 

 a first-class plant adequately protected and are inter- 

 ested in low cost fire insurance, correct policy forms, 

 an inspection service which may save you from a dis- 

 astrous fire, with the certainty of a prompt and 

 equitable adjustment in case loss does occur, tmi 

 wish a list of members and annual statement we will 

 be glad to hear from you. 



Rankin-Benedict Underwriting Co. 



HARRT ■ CLARK Attorney in Fact 



w««t*rv R«»r*s«at&tlT« 



poHi»n«. Or. KANSAS CITY, MO. 



tlic Itimtwr iDduttrj'. It li brllfvrd (bat Improved trade coodltloDi will 

 gn'nily htlinulnic nianufaclurcra and an n rt-nult of tlili tfndcnr)' uf a 

 l)oII>r iiinrki-t It U alrrady nninMinrfN] that m-vpral larKc di'Vclopmcut* 

 will 1)0 begun at oocc. 



=■< LOUISVILLE >-= 



Thr proprr bollday atiiui^plnTi' Imi ln'cn iiruvldcd by tlie 8aota Claiii 

 of (be lumber trade, and bnrdwuod iiicii ben-nliuutii will tackle their 

 CbrUtmaa turkey, with Qxlu'a, with an eutbuiilaiim which waa DoUceably 

 lackluK Ju>t twi-lve aburt muntbii nifn. In (act, bualociis la *o good that 

 they will be able to forget It durlug the bolldayn, aod cad devote their 

 altentluD to enjiiylng a fi'iitlval of featlvnU wbule-lieartrdly, repeating 

 aliiiply, ".Now (food digextlun wait on iippetltv, uiiil bciilth on bulb '." 

 And when bu^lneHii In good enough to let the luinbermnn quit thIuklQg 

 of blmhelf 111 that coDDectloo fur a little while. It ban made lume progreoa 

 conipnred with Iti statua a Hhart time ago. The past ulnety dnya bare 

 brought about o change whicb U notblng abort of remarkable, and by 

 lotruduclug uD Immenaely Increaalng buying power on the part of con- 

 suniem It boH forced up values from a below-coat point to a level where 

 proflta COD once more be thought of. In general, the altuatlon points 

 to a running Ntart Into IDlit, and one of the beat }-c<ira that the lumber- 

 men have ever experienced. 



=•< ST. LOUIS >■= 



Because of the noarnesa to the bolldayn nnd uaual atock taking time, 

 buslneiw baa fallen off. Some buying by factories iind other clnaaea of 

 conxumerH In bclni; done and ordtra arc bcini.' received, but they are 

 moatly by mall owing to the fact thot road KuK'Hmen are arriving from 

 their territories In order to spend the holidays with their families. Uow- 

 ever. It Is expected that ns sooo as stock taking Is finished aud yards 

 know exactly their requirements, there will be considerable activity lu 

 order to replenish their slocks, as nearly oil of them nrc exceedingly lotv 

 and arc badly assorted, in spite of the fairly active buying during the 

 past fetr months. Tbc Item most In demand Is oak. liotb plain and quar- 

 tered oak are being called for rather freely. Tbc demand for tics and 

 other kinds of railway material Is also fairly good. Advances on Itcma 

 most in demand arc reported. On tbc whole, the hardwood situation U 

 rather satisfactory and in good shape. A splendid run of business la 

 anticipated shortly otter the new year begins. The cypress situation, 

 although somewhat better than It was. Is not quite as satisfactory as the 

 distributors of tbat doss of wood would like to sec It. Most of the recent 

 orders hove been small for Immediate delivery and prices quoted have 

 been met without any quibbling, provided prompt shipment is mode. Re- 

 ports from the mills state thot stocks ore not quite as large ns they gen- 

 erally ore. Most of tbc present orders arc for mixed cars and prices 

 continue firm. 



=•< MILWAUKEE >■: 



Logging opcrotlons ore now well under wny in northern Wisconsin, a 

 result of the snow and cold weather, which have arrived in most sec- 

 tions of the state. Indications are that the logging output will be 

 larger thon wos ontlclpoted some time ago. Trade bos been so active 

 all fall that stocks In first ond second bonds have been reduced to o lower 

 level than at this time a year ago. The outlook Is so bright that manu- 

 facturers In most cases feel that they will be justified in cutting more 

 limber this season. In the southern holf of Sawyer county, for Instance, 

 it la estimated by lumbermen that the cut will amount to 125,000,000 

 feet, as compared with 100,000,000 feet a yeor ogo. Lumber ond logging 

 concerns are toklng advantage of the present low prices of hay ond food 

 and the abundance of labor nnd are rushing operations. 



While the amount of new building which is being launched in Mil- 

 waukee at this time Is naturally beginning to foil off, there have been 

 enough large building projects launched of lote to give assurance of n 

 good business ahead. 



One of the most hopeful signs is the greatly Improved demand in the 

 factory field, due to the Increased activity in general lines of business. 

 The furniture and chair manufacturing concerns here in Milwaukee and 

 all over the state seem to be meeting with on especially fine buslnci^s. 

 Keports from Shcboygon, for Instance, say that the chair factories of that 

 city are operating overtime In the effort to catch up with the orders. 

 The farm Implement plants are showing more activity and are buying 

 stock more freely that they may be in readiness to handle the increase in 

 business which is anticipated. The sash and door manufacturers ore 

 naturally not buying quite so freely, now that the rush is over in the 

 building Held. Stocks on hand at these plonts arc light, however, and n 

 good demand is anticipated after the first of the year, when the annual 

 Inventories have been completed. 



There is o strong tone in the hardwood market and prices have ad- 

 vanced in some lines. In the northern woods, birch and maple ar"! 

 in brisk demand and are bringing higher prices. In view of the possible 

 shortage of available dry stocks In these lines. The increasing demond 

 for low grade stocks in basswood and other lines has been a feature in 

 the local market of late. Manufacturers arc receiving some good In- 

 quiries regarding purchases after the first of the year, but the tone of 

 the market is so strong that there Is a tendency not to accept large orders 

 for future shipment at the e.\i«tlng prices. 



All Three of Us Will Be Benefited if You Mention HARDWOOD RECORD 



