42 



HARDWOOD RECORD 



OUNDNESS 



Ready Resources $925,845 



URPLUS 



and Reinsurance Reserve .. . 856,634 



AVINCS 



Returned to Subscribers. . . . 546,757 



ERVICE 

 60-day Inspections; Monthly Fire Bulletins. 



These are some of the vital features 

 upon which the management of the 



Lumbermen's Underwriting 

 Alliance 



bases its plea to the LUMBKKMEN FOR 

 A SHARE OF THEIR Insurance Lines^ 

 These safeguards are the result of TEN 

 YEARS of successful underwriting. 



$155,000.00 



in CASH DI\IDEXDS went into the treas- 

 uries of ALLIANCE Policyholders in 1914. 

 Owners of protected plants, with five or 

 more years' timber supply, are invited to 

 become iclcntitied with us. 



U. S. EPPERSON & COMPANY 



Attorney and Manager, KANSAS CITY 



=■< TOLEDO >= 



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 fornis, 

 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, arid 

 wish a list of members and annual statement we will 

 be glad to hear from you. 



Rankin-Benedict Underwriting Co. 



HARRY B. CI>ARK 



Western Representative 



Portland, Ore. 



Attorney in Fact 

 KANSAS CITY, 



MO. 



Toledo continues to grow. With this rotuarkable growtb comes a pros- 

 perity which is not equalled by every city. "The first week in Marchi for 

 instance, irives an estimated valuation of building; permits issued at $304,063 

 as compared with .STl.Oy-^ for the same week a .year ago. Toledo is to have 

 a good many large investment buildings this season. While thousands of 

 new homes have been built here in the past two or three years the demand 

 lor homes continues and at present it would seem that tlie erection of resi- 

 dence structures will continue. The factory orders are coming in better than 

 for some time past and the building trades will soon provide a ready market 

 lor considerable hardwood. The principal demand thus far has been for 

 plain oak. Prices are fairly firm. Yards are pretty well filled, but there is 

 some tendency to buy, although very little of a speculative nature. Hard- 

 wood crating is In pretty heavy demand Just now, in the lower grades. 



=■< INDIANAPOLIS >- 



While the hardwood market is gradually taking on a firmer tone, the 

 situation still is far from satisfactory. Business has been at a low ebb for 

 several months and it is having great difhoulty in regaining lost ground. 



.Many inquiries are being received, but tliese arc not developing any very 

 large salc«. Buying is cautious and apparently for current needs. Occa- 

 sionally some hardwood user, with a fair volume of orders ahead, places a 

 substantial order. 



Prices continue to hold their own and it is not believed there will he any 

 substantial advance soon. Considering the state of the market there Is 

 naturally a sulTiclent supply of all grades of hardwoods and this fact coupled 

 with light buying does not seem to justify an advance soon. 



■A'he veneer trade seems, to be gaining a little ground. In some parts of 

 the state veneer companies are reported to have an increased business. 



=•< CINCINNATI >•- 



An unsteady market, a trlUe less optimistic than two weeks ago, featured 

 tlie hardwood situation in Cincinnati during the past fortnight. This slight 

 depression, while quite general in its scope, proved hard to trace to Its 

 origin, unless it can be attributed to overconfldonco. A week or so back, the 

 breath of optimism was apparent in practically all branches of the business, 

 notwithstanding the widespread apathy in all other lines of business, and, 

 as expressed by one prominent local hardwood dealer, just when business was 

 beginning to again reach the surface level, too much was expected iu a shore - 

 time. Thus, the failure to regain former strength within a comparatively 

 short time Just when the silver lining began to glow, was taken by many to 

 be an omen of evil again. It cannot be denied that the market has suffered 

 lonsiderable of a slump recentl.v, hut when analyzed in the aggregate, a 

 steady, though to be sure slow. Improvement is marked. 



It appears that some bu.siness men are wont to count and tally by the 

 week as against the cumtilative market situation. While the last week o.r 

 two shows a retrograde movement when balanced off with the showing of a 

 mouth, the situation Is encouraging and strong ent)ugh upon which to base 

 future hopes. Near normal conditions arc confidently expected within the 

 next thirty days by those who choose to look upon the brighter side of all 

 things. Unmistakable signs of an early and open spring is a grand stimulus, 

 and already the inquiries from the builders is exceptionally strong. Judging 

 from the inquiries coming in from this eud, Cincinnati is about to witness 

 one of its greatest building booms. Some of the larger mills report an 

 unprecedented number of inquiries, while the actual demand keeps them 

 working full up, and In divers instances concerns are found hard pressed to 

 meet the demand. As is usual, the material back of the mills is limited, this 

 being the chief and apparently only cause of complaint to be heard in this 

 direction. Naturally, the millmen are Jubilant with the opening of spring 

 and welcome resumption of business after a long winter of comparative 

 idleness. 



Woodworking plants are reported in full operation and buying heavily, 

 and wholesalers are ready to snap up all that is available. 



Prices are holding up well, being backed by the increased demand and 

 steady How of inquirers from certain quarters. Heavy oak and basswood is 

 lielng moved rapidly and probably constitutes the best seller of the week. 

 There is little ash on hand and undergoing an insistent demand, while 

 chestnut is moving well for some concerns. Poplar had undergone a slight 

 backward movement recently and in some quarters is selling considerably 

 under market. An explanation of the latter is given by some as that those 

 who have a fair supply in the yards are anxious to move it at even almost 

 sacriflcing figures in order to do some business, but this view is not shared 

 generally. Surely, however, there appears to be no basis of price in many 

 grades, the market fluctuating day by day. An Instance is cited where a 

 considerable quantity of poplar was moved at a fifty per cent increase of 

 last quotations, while the same day another concern accepted a figure of 

 nearly fifty per cent below current quotations. However, it is said that 

 conditions other than the market played a prominent part in the latter trans- 

 action. 



What on the surface recently was taken to be a big movement by the rail- 

 road toward Improvements on account of the large volume of inquiries and 

 unseasonably heavy orders, has dwindled dov/n cousiderably this week and 

 Ihe demand is rather quiet in this direction. 



Inquiries from the furniture houses continue brisk, giving evidence of a 

 renewed activity in this line. Vehicle and implement manufacturers are 



