HARDWOOD RECORD 



43 



:< PITTSBURGH >.. 



I = 



The general situatiou l'.ere is so much improved, especially in au iujustrial 

 way, tbat hardwood men believe business cannot be withheld much longer. 

 Already some nice requisitions are coming out from the railroads. The 

 manufacturing trade has not taken hold as yet, but is expected to come into 

 the market at any time. Prices are beginning to stiffen. Yards show 

 pretty low stocks on inventory, and retailers who are optimistic are put- 

 ting in their inquiries for hardwood. Some retailers are inclined to wait 

 ■on business developments as the.\- believe that if business gets better they 

 can well afford to pay higher prices for lumber. Stocks of hardwoods are 

 not large and many good mills have been down on account of lack of water. 



-< BOSTON >.= 



The hardwood business in this district is quiet. The normal decrease in 

 buying at this season is not more noticeable than in previous years. In 

 fact, it is apparent that many users are now obliged by lowered stocks to 

 buy continuously instead of being able to stop purchases completely for 

 a considerable time at this period, which has heretofore been a policy with 

 a great many concerns. The practice maintained for a number of months 

 of postponing buying to the last limit awaiting price concessions is now 

 having an effect of strengthening prices. The use of the better grades 

 has been so nearly parallel to production that the closing of the mills 

 has found many with a very small percentage of their stock in these 

 grades, and in consequence the values of good lumber are holding prac- 

 tically unchanged. From a similar cause the offering of the lower grades 

 has been quite insistent, but increased call by the railroads which use a 

 great deal of the low grade, and buying for immediate wants by other 

 industries certain to take place in the near future, the mills holding this 

 class of stock show a great disinclination to make any further cuts in 

 prices. While the familiar reasons which deter dealers from trying to 

 stimulate buying by lowering quotations have a very strong influence, the 

 forthcoming raise in freight rates to the East makes it necesasry to hold 

 all transactions to a reasonably firm basis. Specialties in widths, grades, 

 etc., which are normally selected in general manufacturing or shipping 

 are growing more difficult to obtain and are in good demand and value. 



=-< BALTIMORE >= 



The new year is not sufficiently advanced to show its effect upon the 

 hardwood trade. For the present pronounced quiet prevails and the situa- 

 tion is not appreciably different from that which has existed for weeks 

 past. Members of the trade are still too much engrossed with details 

 incidental to the close of the year to give much attention to the soliciting 

 of orders, though the more hopeful feeling which began to manifest itself 

 about the beginning of December is still in evidence and has perhaps taken 

 ■on a more decided tone. This feeling, of course, is based upon expectations 

 and not upon recent developments. The end of a year is not a time for a 

 positive improvement to show itself, the trade being largely in abeyance. 

 But the forecasts of members of the trade are none the less almost uni- 

 formly favorable, being inspired by the belief that the improvement which 

 has already taken place in the situation will become more pronounced 

 before long and that while the holiday period may have interrupted the 

 revival temporarily, it has not permanently checked recovery. 



No very positive quickening in the demand from furniture manufacturers 

 is expected until after the exhibition in New York, which will give them 

 a clearer idea of probable requirements and the trend of the trade. Much 

 in the way of an augmented inquiry is hoped from the railroads as a result 

 ■of the freight rate decision. It the railroads do enter the market for hard- 

 woods to any extent, the trade will be greatly benefited and a general 

 stimulus will be given to it. 



As for the foreign business, it shows no material changes. Hope for a 

 considerable gain in the foreign demand is necessarily associated with the 

 restoration ot peace, and this aspect of the situation presents some en- 

 couragement. For the time being, of course, all of the belligerents deny 

 that they want peace, but.it seems likely that the conflict will not last 

 again as long as it has continued, and with the cessation of hostilities 

 imperative needs will assert themselves. Prices are still more or less 

 unsettled, but the mills are in no hurry to resume operations and stocks 

 are held down to moderate proportions. 



=-< COLUMBUS >- 



The market tor hardwoods in Columbus and central Ohio during the 

 past fortnight has been rather quiet. That condition is to be expected 

 because of the holiday season and the taking of the usual yearly inven- 

 tories. The tone of the market remains good, however, and future pros- 

 pects are said to be better. 



Dealers are not buying a great deal, but this condition is expected to 

 change as soon as stock taking is finished. It has been ascertained that 

 stocks are very low and that it will be necessary for dealers to replenish 

 their supply before much retail business can be done. The cold weather 

 has stopped practically all outside construction work and consequently the 

 demand is not so marked. 



Factories making implements, vehicles and furniture are the best cus- 

 tomers among the manufacturers. The feeling in manufacturing circles 

 is growing better and a better feeling in the lumber business Is anticipated 

 as a consequence. Stocks in the bands ot factories are small and the 



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