HARDWOOD RECORD 



55 



establishments. The demand from both sources is about equal but if there 

 is any preponderance it is on the side of manufacturing plants. The tone 

 of the market is still good and prospects for the future are not con- 

 sidered bad. 



One of the best features of the trade is the renewed activit.v whicli 

 has characterized building operations. This is true not only in Columbus 

 but also in the cities and towns in central Ohio. Since the European 

 war made money tight, banks and building and loan organizations have 

 become easier and many building project.s which were stopped temporarily 

 are now proceeding. This means an additional demand for hardwood 

 stoc'KS among the retail trade. Dealers' stocks are not large and the 

 retailer is still buying only for the immediate present. 



Factories engaged in manufacturing furniture and vehicles are pur- 

 chasers of hardwood stocks. The same is true of automobile concerns 

 which are buying wide sizes of poplar. Taking it all in all the prospects 

 from manufacturing lines are better than has been the case for several 

 months. 



Prices are fairly well maintained at the levels which have prevailed 

 for some time. Some declines off the list of several months ago have 

 been recorded. Generally speaking the list is upheld fairly well although 

 some cutting is indulged in to force trade. 



Quartered oak is holding up well although the demand is not very 

 strong. Prices are unchanged from the previous month. There is a 

 fairly good demand for plain sawed oak. 



< INDIANAPOLIS > 



The hardwood trade has not shown any improvetnent in the last two 

 weeks. Trade is inactive, although prices are still at a comparatively 

 good figure except gum. Automobile and furniture factories and building 

 operations, which normally consume large quantities of hardwoods are 

 practically at a standstill in the state. 



It is said banking conditions are largely responsible for present con- 

 ditions. Investigation has show"n vast sums of money in most banks but 

 for the most part banks are extending very little accommodation. The 

 manufacturers thus cannot obtain cash to carry on business and as a 

 result thousands of workmen are out of employment, or working part 

 time. As a further result, the ultimate consumers have nothing to buy 

 with. 



Hardwood mills are .greatly curtailing production. Some of the mills 

 have a large amount of stock on hands, one mill having fifty per cent 

 more hardwood lumber on hand than it had a year ago. A further cur- 

 tailment will bo made by some of the mills, if business does not improve 

 shortly. 



=■< TOLEDO y 



The hardwood situation is showing little change over what it was a 

 couple of weeks ago. The local yards are well filled and buying is ex- 

 tremely light. Dealers are uneasy owing to the tightness of the money 

 market and are not inclined to buy anything except what is needed to 

 cover present requirements. These present requirements continue to make 

 a demand for considerable lumber. The building business in Toledo con- 

 tinues and the high grade of structures erected here has not been af- 

 fecled by the general conditions of the market. Toledo people demand 

 quality and builders are giving it to them. Hardwoods are extensively 

 used in all residences, apartment houses and fiat buildings now being 

 put up and of course the investment structures make a market for goodly 

 quantities of hardwoods. The new schools to be constructed here will also 

 make a market for a large quantity of hardwoods. Toledo is to have 

 several new schools to take care of the rapidly increasing population. 

 Prices are holding fairly well and there is a fair demand for boxing 

 materials and for hardwood crating. 



=-< NASHVILLE >•- 



The hardv/ood situation has shown very little change the past two 

 weeks, and in fact the same story would have described the situation 

 for the past two months or more. However, the industry is becoming 

 more adjusted to the conditions brought about by the European war. 

 and is settling down to that basis. Business is running about twenty 

 per cent below normal, but there is little complaint from the hard- 

 wood firms In this territory, and they continue to take an optimistic and 

 hopeful view of the future. There is a good deal of curtailment of 

 production, but not a few of the concerns are operating their plants not 

 much below the- normal in order to keep their organizations. One firm 

 reported a shipment of a car of hardwood to Scotland last week, and 

 occasional export shipments are being made. Prices are fairly well main- 

 tained. Plain oak is probably the largest seller, with demand for 

 chestnut, poplar, ash and other hardwoods. Flooring is in fair demand. 



=-< LOUISVILLE y- 



The most encouraging feature of the situation at present is improved 

 collections. While there has been some renewing of notes, debts are 

 being liquidated quite generally, and consumers of lumber seem to be in 

 a position to take care of their obligations. This may be due to the fact 

 that they are operating on a smaller scale, and require less capital than 

 usual to take care of their business. The banks have not shut down on their 

 customers, but are discounting lumber paper without hesitation. In fact. 



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SRIEB DEFABTBIENT 



The A. H. Andrews Co. 



115-117 S. Wabash Avenue 



CHICAGO, ILLINOIS 



