HARDWOOD RECORD 



53 



of hardwoods, arc rctrencbiug to some extent, and the ocononiie methods 

 pursued have helped to keep down the list of failures and litigations in 

 the lumber trade. Buying continues conservative, occasional spurts in 

 certain lines are noticeable, but it is admitted they simply cover some 

 special order. Although there has been a curtailment of output in mill 

 districts, hardwood lumber is freely offered at tempting prices, witli 

 very little encouragement from the buyer, who will not be bribed to 

 stock up. 



As to quotations, there is nothing reliable to guide the trade at this 

 time. Oak, which continues in the lead, has been shaded some. Maple, 

 birch and beecb keep fair reputation. Flooring has been .'ictive and 

 fairly strong. Chestnut and poplar are slow; low grades generally have 

 held a firm position. 



:■< BOSTON y- 



The situation in this market shows but liltlo chan*;o if any, although 

 what evidences there may be observed are toward an increased inquiry 

 and some failure to find stock available for orders. The depression and 

 restriction more sharply felt during the period of business contraction has 

 now given way to a methodical cultivation of buyiui;r opportunities or 

 "bargain hunt" for stock to fill what orders are secured. That there 

 are numerous hardwood items which are bought and sold here on a de- 

 creased price must be admitted and with this generally understood condi- 

 tion, buying is still reduced to a necessity basis. At the same time con- 

 tinued moderate activity in manufacturing keeps up a corresponding 

 demand, but with a well defined expectation of cut prices. With no good 

 reason to anticipate au immediate increase of trade the commonly stated 

 position of the dealers here is that the hardwood business must adjust 

 itself to circumstances :ind await the improvement of general business. 



=-< BALTIMORE >•- 



While in a general way the hardwood trade situation remains much 

 the same, the preponderance of opinion appears to be that some improve- 

 ment has taken place. Leading members of the trade seem to have 

 reached the conclusion that bottom has been touched and that the move- 

 ment now is upward, even though no decided progress has been scored 

 so far. Orders come in by .spurts. It does not appear that the quota- 

 tions have gone lower, but more or less fluctuation in the prices realized 

 prevails, and there is no very settled basis for the sellers to go on. A 

 millman may feel that lie has gone as low as he can, onl.v to find lliat 

 a competitor has made further concessions. But it must be understood 

 that the marking down of figures does not necessarily bring business. 

 The prospective buyer who is solicited for an order will not place it If 

 he can get along without any addition to his stocks. At this time, as 

 much as any other, the speculative business remains in abeyance, the 

 buyers taking up stocks only to meet their immediate wants. This 

 applies to practically all woods in general use. The better feeling with 

 respect to poplar, noteil some time ago. remains in evidence, being based 

 mainly on the larger shipments to foreign countries, which have devel- 

 oped greater wants than seemed at first likely. Stocks in England, for 

 instance, were relatively small when the war broke out. and after the 

 first shock the buyers there set about adding to their assortments because 

 they felt the lumber would be called for. It is much the same with oak, 

 of which wood a number of foreign shipments have been made of late. 

 Not only are the ordinary wants asserting themselves, but the prosecu- 

 tion of the war brings out requirements w-hich must be met. and it is 

 being found that the selection is smaller than existing conditions render 

 desirable. The foreign buyers have made some advances over and above 

 the increase in the freight rates, and the outlook for a still further gain 

 in the foreign movement is decidedly promising. This, of course. Is having 

 a favorable effect upon the situation at home, and most of the mills 

 continue in operation. Of course, a number of the plants which sawed 

 lumber especially suitable for the foreign trade have held down of late, 

 but relatively the prospect is encouraging. The furniture factories and 

 makers of store fixtures are still buying with some freedom, and the 

 increasing use of hardwoods for purposes whicli were formerly met by 

 other kinds of lumber furnishes an enlarged outlet. Much is hoped from 

 the improved financial conditions and the easier tone in the money market, 

 and the hardwood men are prepared to take advantage of any change 

 for the better that manifests itself. 



=-< COLUMBUS >-= 



There is a fairly good volume in the hardwood trade in Columbus and 

 central Ohio. The volume of business, however, is not up to that of 

 1913 for the same period, but considering the European war and general 

 business conditions the trade is satisfactory. Prices are fairly well main- 

 tained although there is some cutting in quarters where stocks have 

 accumulated. The tone of the market Is fair and future prospects are not 

 considered bad. 



One of the best features is the better buying done by certain lines of 

 manufacturing. Factories making furniture and vehicles are buying more 

 liberally. Implement concerns are not buying to any extent as the export 

 trade has been stopped. Stocks in the hands of factories are low and 

 purchasing agents are only buying what they need for the present. 



Retailers are experiencing a better demand, since building operations 

 are more active. For a time there was a lull in buMdlng due to the 



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