16 



HARDWOOD RECORD 



ingly is rather a psychological development as the extreme down- 

 heartedness of a very fair proportion of lumbermen has resulted 

 more from changed conditions than from actual hard times. They 

 have found it difficult to accommodate themselves to different methods 

 of purchasing. They have been u?ed to going out and placing good 

 sized orders at fair prices, and can not get used to the unsatisfactory 

 small order. They have never been peddlers and find it difficult to 

 adapt themselves to what might be described as the necessity for 

 peddling their wares. However, it seems that this condition of mind 

 is changing and that they are getting some measure of satisfaction 

 from even a small sale of lumber. If the truth were generally knowTi, 

 the actual aggregates in a good many cases would count up to pro- 

 portions which are not at all unsatisfactory, considering what the rest 

 of the world is going through. 



As to prices, unfortunately it must be admitted that lumber is not 

 being sold for what it is worth. On the other hand, the sawmill 

 man as a general thing is to be warmly commended for what is the 

 almost general policy of holding stock for what he thinks is a fair 

 market value wherever it is possible to do so. This point has been 

 touched on heretofore, but it is increasingly apparent that this is 

 the policy of the majority of the better class of sawmills in the 

 North and, South. That they are in a position to figure on this basis 

 IS an absolutely indisputable fact. Their stocks average only normal. 

 The consumers' stocks are practically nil. Many mills are shut down 

 and are now non-producers. Hence there is absolutely no reason for 

 presuming there will be any country-wide accumulation of stocks. 

 This argument in favor of fair prices is impossible of circumventing. 

 It should be borne in mind by every manufacturer in dealing either 

 with the consumer or with the wholesaler, and it should be borne in 

 mind by every wholesaler. 



One fortunate side of the financial tightness is the fact that it is 

 preventing to a 'very large degree speculative lumber buying. Large 

 wholesalers announce that they are doing practically no buying ex- 

 cept where bargains are being forced upon them, but in a good many 

 cases this same class of concerns would buy if they were able to secure 

 sufficient money for speculative purposes. The tendency of this con- 

 dition then is to keep down the bargain sales of lumber. 



It is difficult to say much that is new in this report as conditions 

 are shaping themselves slowly, but Hardwood Record firmly believes 

 that the last two weeks have seen real accomplishments by the Ameri- 

 can business men as a whole, and that the country has made rapid 

 progress in its effort in adapting itself to the changed conditions. 

 Hardwood Record has not been able to see during this fortnight 

 anything that can be argued as presaging the deeper submerging in 

 the mire of business stagnation. Lumber prices are not good, it is 

 true, but any changes which have been reported on actual sales, with 

 of course here and there the usual exceptions, have been changes for 

 the better. 



It seemingly would not be a wise procedure to prophecy notable 

 developments during the remainder of 1914, but Hardwood Record 

 believes that when the next year is two or three months old, Ameri- 

 can lumbermen will have experienced to a gratifying extent the 

 benefits of the tremendous advancement which American business will 

 have felt. Between now and then is the time to make plans for 

 taking full advantage of increased opportunities. 



The Cover Picture 



C HOWS A PERIOD OF LOW WATER in the Big Sandy. There 

 '-' is not much sand in sight within the area shown in the cover 

 picture of this number of Hardwood Record, but, nevertheless, the 

 name of the river is not misleading. The sand from which' the 

 stream is named occurs lower down the river's course; but the 

 origm of some of it is apparent in the picture. It was washed 

 from the faces of the cliffs or ground from the boulders in the 

 channel. There is not enough current' visible to do much <rrindin<T 

 but the photograph was taken in time of drought. When the floods 

 come, there are plenty of power and material for grinding sand • 



_ The Big Sandy river is the joint possession of three states Vir- 

 ginia West Virginia and Kentucky. It forms the boundary between 

 the two latter states for many miles along its lower course Its 



tributaries flow from the mountains, valleys, glens, ravines, caves 

 and forests of the three states. It is a region wild and beautiful. 

 Much of it is primeval forest, and it is peopled by mountaineers, 

 many of whom live in much the same way as their ancestors before 

 them. It is of interest that the first English-speaking army that 

 ever set foot on the banks of the Ohio river marched one hundred 

 and fifty-eight years ago down the identical defile shown in the 

 picture. The marching was rough, but the moccasined, single-file 

 Virginians, under their Scotch leader, General Andrew Lewis, got 

 through. The descendants of those soldiers live in these mountains 

 yet. 



The Big Sandy region has long been famous for its timber. The 

 picture does not show the best, because the faces of cliffs do not 

 grow that kind; but it is found among the coves and fertile val- 

 leys farther back. Well-informed timbermen have said that the 

 finest yellow poplar in America is found on the tributaries of the 

 Big Sandy river. Enormous quantities have been taken out since 

 lumber operations were commenced there half a century ago. Much 

 has been floated down the streams in times of flood and has reached 

 sawmiUs on the Ohio river. Artificial floods have been created by 

 building splash dams, and log drives of spectacular proportions 

 have been forced down the rocky channel. Without such assistance 

 the logs would lie stranded for months at a stretch. During recent 

 years railroads have penetrated the region, and the streams are less 

 important than formerly as a means of log transportation. 



Among the Delta Mills . 



O PECIFIC REPORTS from almost two hundred sawmills operating 

 '-' in the Delta states of the Mississippi river, which while on the 

 face are rather startling, augur well for the immediate future of the 

 hardwood business at least as far as that part of the country is con- 

 cerned. Actual figures show that out of 189 letters received from 

 such concerns, 126 are now shut down definitely, 21 are running on 

 short time, and 28 on full time. 



It can easily be seen from this that southern operators are plan- 

 ning to play safe under present conditions. The most important 

 thought, however, comes from the contemplation of the future. With 

 stocks at consuming points used up almost day by day, vfith about 

 three-fourths of the mills in that section non-producing, it can 

 readily be seen that there is no possibility of any great accumulation 

 of hardwood lumber. 



Of equal importance is the report on hardwood stocks now on 

 hand in the same mills. Of those reporting, 47 stated that their 

 stocks are over normal, 45 stated that they are about the same as 

 usual, and 4.') that they are less than usual. Considering that on an 

 average the mills replying are of equal importance as far as pro- 

 duction is concerned, it is definitely shown that the hardwood stocks 

 in the delta country are at the present vpriting practically normal. 



There is one idea suggested by this combination of circumstances 

 which above all others should impress itself upon the sawmiU men 

 and the wholesaler. That is, with only a normal stock at the mills, 

 with practically no stock to speak of at consuming points, with a fair 

 amount of lumber actually moving, there can be no possible excuse 

 for deliberately and voluntarily slashing prices, which would demoral- 

 ize not only the wholesale and producing element, but the consuming 

 element as well. There is not one consumer in a hundred who would 

 not be far better satisfied to have lumber on a normal basis as far 

 as selling price is concerned. 



Here it seems is an excellent opportunity for establishing a fairly 

 uniform market value for hardwood products, the value of which 

 would be fair to the producer as well as to the consumer. 



Action 



pOLLOWING THE GENERAL OPENING OF HOSTILITIES 

 among the warring nations, this country was flooded with a verit-' 

 able tidal wave of suggestions and advice concerning the best method 

 of procedure for securing to this country the fullest benefits which 

 are justifiably due it as a result of the removal from tlie various world 

 markets of competition of our commercial neighbors across the At- 

 lantic. A good deal of this advice was general in character but was 



